{"id":45599,"date":"2016-07-28T18:56:00","date_gmt":"2016-07-28T18:56:00","guid":{"rendered":"https:\/\/wp2.inovestor.com\/2016\/07\/brinker-international-eat\/"},"modified":"2016-07-28T18:56:00","modified_gmt":"2016-07-28T18:56:00","slug":"brinker-international-eat","status":"publish","type":"post","link":"https:\/\/www.inovestor.com\/fr-ca\/2016\/07\/brinker-international-eat\/","title":{"rendered":"Brinker International (EAT)"},"content":{"rendered":"

Dans l’analyse de contenu d’aujourd’hui, nous discutons de Brinker International (EAT), compagnie bas\u00e8e \u00e0 Dallas qui d\u00e8tient les cha\u00eenes de restaurants Chili’s et Maggiano’s pr\u00e8sents dans 31 pays. Brinker pr\u00e8sente plusieurs signaux EVA positifs, et avec un SPscore de 77%, cette compagnie pourrait \u00e8ventuellement \u00eatre ajout\u00e8e \u00e0 notre mod\u00e8le US-Large. Download <\/a><\/p>\n

La courbe de la valeur intrins\u00e8que de Brinker est tr\u00e8s stable et en forte croissance depuis 2012. Pour la premi\u00e8re fois, le prix de l’action se n\u00e8gocie en-dessous de sa valeur intrins\u00e8que, soit \u00e0 un ratio P\/VI de 0.79, un potentiel d’appr\u00e8ciation du titre de 26%. La croissance de la valeur intrins\u00e8que s’explique par la performance \u00e8conomique qui ne cesse de s’am\u00e8liorer depuis 5 ans : le rendement sur capital a augment\u00e8 \u00e0 chaque ann\u00e8e et est pass\u00e8 de 11% en 2011 \u00e0 15.7% aujourd’hui. En 2011, le NOPAT g\u00e8n\u00e8r\u00e8 avec un capital investit de 1.76G$ \u00e8tait de 193M$. En 2016, le capital investit est \u00ac\u00b4 seulement \u00ac\u00aa de 1.71G$ mais g\u00e8n\u00e8re un NOPAT de 269M$, ce qui est 40% plus \u00e8lev\u00e8 que 4 ans auparavant!<\/p>\n

La valeur de croissance future (FGV) de -12.9% est \u00e8galement tr\u00e8s, tr\u00e8s attrayante. Celle-ci d\u00e8montre que l’action se n\u00e8gocie \u00e0 escompte, mais cet escompte est d’autant plus int\u00e8ressant consid\u00e8rant que c’est la premi\u00e8re fois que l’occasion se pr\u00e8sente en 5 ans. La valeur des op\u00e8rations courantes (COV) offre aussi une croissance constante et qui s’acc\u00e8l\u00e8re depuis d\u00e8but 2015. Avoir la possibilit\u00e8 d’acheter \u00e0 escompte le titre d’une compagnie en croissance est ce que nous consid\u00e8rons un \u00ac\u00b4 sc\u00e8nario id\u00e8al \u00ac\u00aa.<\/p>\n

Au niveau de l’EVA, sa croissance est irr\u00e8prochable et tr\u00e8s lin\u00e8aire. La compagnie r\u00e8ussit \u00e0 cr\u00e8er de plus en plus de richesse pour ses actionnaires de fa\u00e7on tr\u00e8s efficace.<\/p>\n

La performance comptable de Brinker est aussi impressionnante. Le chiffre d’affaires, les profits d’op\u00e8ration et les b\u00e8n\u00e8fices par action ont augment\u00e8 \u00e0 chaque ann\u00e8e depuis 5 ans. Gr\u221a\u00a2ce \u00e0 des fonds lib\u00e8r\u00e8s constamment positifs, la compagnie a \u00e8t\u00e8 en mesure de faire cro\u00eetre son dividende \u00e0 un taux moyen de 19% par ann\u00e8e en plus de racheter pr\u00e8s de 27% des actions en circulation en 5 ans. Un seul b\u00e8mol : la compagnie a beaucoup recourt \u00e0 l’effet de levier, les passifs \u00e8tant plus importants que les actifs.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dans l’analyse de contenu d’aujourd’hui, nous discutons de Brinker International (EAT), compagnie bas\u00e8e \u00e0 Dallas qui d\u00e8tient les cha\u00eenes de restaurants Chili’s et Maggiano’s pr\u00e8sents dans 31 pays. Brinker pr\u00e8sente plusieurs signaux EVA positifs, et avec un SPscore de 77%, cette compagnie pourrait \u00e8ventuellement \u00eatre ajout\u00e8e \u00e0 notre mod\u00e8le US-Large. Download La courbe de la […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[434],"class_list":["post-45599","post","type-post","status-publish","format-standard","hentry","category-intelligence","tag-eat"],"acf":[],"yoast_head":"\nBrinker International (EAT) - Inovestor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.inovestor.com\/fr-ca\/2016\/07\/brinker-international-eat\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brinker International (EAT)\" \/>\n<meta property=\"og:description\" content=\"Dans l’analyse de contenu d’aujourd’hui, nous discutons de Brinker International (EAT), compagnie bas\u00e8e \u00e0 Dallas qui d\u00e8tient les cha\u00eenes de restaurants Chili’s et Maggiano’s pr\u00e8sents dans 31 pays. Brinker pr\u00e8sente plusieurs signaux EVA positifs, et avec un SPscore de 77%, cette compagnie pourrait \u00e8ventuellement \u00eatre ajout\u00e8e \u00e0 notre mod\u00e8le US-Large. 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