{"id":45605,"date":"2016-05-05T12:49:00","date_gmt":"2016-05-05T12:49:00","guid":{"rendered":"https:\/\/wp2.inovestor.com\/2016\/05\/lockheed-martin-lmt\/"},"modified":"2016-05-05T12:49:00","modified_gmt":"2016-05-05T12:49:00","slug":"lockheed-martin-lmt","status":"publish","type":"post","link":"https:\/\/www.inovestor.com\/fr-ca\/2016\/05\/lockheed-martin-lmt\/","title":{"rendered":"Lockheed Martin (LMT)"},"content":{"rendered":"<p>Dans l&rsquo;analyse de contenu d&rsquo;aujourd&rsquo;hui, nous revenons sur les r\u00e8sultats du premier trimestre de Lockheed Martin (LMT), mis-\u00e0-jour mercredi dernier dans StockPointer. Lockheed Martin fait partie de notre portefeuille mod\u00e8le US-Large depuis le 2 mars 2015 et a obtenu, depuis cette date, un rendement total d&rsquo;environ 20%.  <a href=\"http:\/\/wp1.inovestor.com\/wp-content\/uploads\/Content\/FR\/LMT-FR.pdf\"> <img decoding=\"async\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAABQAAAAYCAYAAAD6S912AAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAAJcEhZcwAADsMAAA7DAcdvqGQAAAAadEVYdFNvZnR3YXJlAFBhaW50Lk5FVCB2My41LjEwMPRyoQAAAN5JREFUSEvdlcENwyAMAIn64NkROkSePMoKzJERMgEzZMwoH1DkYhSiJDJgIvXRPk4Cy1xsS1bENE3Q9z2LYRjAOScAIIswxpCPc2itYVkWUoZE4ZYU7mSS9N6fPlyScoQiCZVSse2StEmIefM8wziOWWmzEPPWdRU5KVfYXfOC9E1Jb1WY4lSlTUJ8WMJaCywhwlkA9HCFz0B3ie0cR8KusMT\/CiURi\/x2y9m2SpSEry3pcThXCcJ917\/eMvmgRq1CXLHjLNMdR5DGkM4xLwjlSUgt+h2isOU3WsNaCx9FtNaZP8PEygAAAABJRU5ErkJggg==\" \/> Download <\/a><\/p>\n<p>La valeur intrins\u00e8que de Lockheed a bondit de 190$ \u00e0 280$ ce trimestre gr\u221a\u00a2ce \u00e0 un NOPAT en hausse et un taux de croissance \u00e8lev\u00e8, de 34%, de l&rsquo;investissement en capital au cours des 12 derniers mois. Le ratio P\/VI nous indique un potentiel d&rsquo;appr\u00e8ciation de 19% dans la valeur du titre, une des marges les plus int\u00e8ressantes depuis 2012. Le rendement sur capital a l\u00e8g\u00e8rement diminu\u00e8, passant de 16.4% \u00e0 14.4%, mais ceci est principalement d\u00fb \u00e0 une augmentation un peu plus rapide du capital investi que du NOPAT, un ph\u00e8nom\u00e8ne courant lorsqu&rsquo;une compagnie investit des montants aussi \u00e8lev\u00e8s en capital au cours d&rsquo;une courte p\u00e8riode.<\/p>\n<p>Consid\u00e8rant que la valeur des op\u00e8rations courantes (COV) a augment\u00e8 de 22% au cours des 12 derniers mois, la prime de valeur de croissance future (FGV) de 16.7% para\u00eet raisonnable.<\/p>\n<p>Pour ce qui est de la performance \u00e8conomique de LMT, l&rsquo;EVA total g\u00e8n\u00e8r\u00e8 par la compagnie est \u00e0 son point historique le plus \u00e8lev\u00e8 et sa croissance est tr\u00e8s stable depuis fin 2013. Le NOPAT a \u00e8galement augment\u00e8 \u00e0 chaque ann\u00e8e depuis 5 ans, une caract\u00e8ristique positive que nous recherchons constamment.<\/p>\n<p>En terminant avec la performance comptable de Lockheed, les dividendes ont connu un taux de croissance moyen de 16% par ann\u00e8e depuis 5 ans, et la compagnie a \u00e8galement rachet\u00e8 des actions \u00e0 chaque ann\u00e8e. Les fonds lib\u00e8r\u00e8s, ou free cash-flows, sont \u00e0 leur point le plus \u00e8lev\u00e8s en 5 ans et d\u00e8montrent que LMT pourrait \u00eatre en bonne position pour maintenir sa croissance du dividende, ses rachats d&rsquo;actions, pour rembourser sa dette plus rapidement ou pour augmenter le taux de croissance du capital investit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dans l&rsquo;analyse de contenu d&rsquo;aujourd&rsquo;hui, nous revenons sur les r\u00e8sultats du premier trimestre de Lockheed Martin (LMT), mis-\u00e0-jour mercredi dernier dans StockPointer. Lockheed Martin fait partie de notre portefeuille mod\u00e8le US-Large depuis le 2 mars 2015 et a obtenu, depuis cette date, un rendement total d&rsquo;environ 20%. Download La valeur intrins\u00e8que de Lockheed a bondit [&hellip;]<\/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":[436],"class_list":["post-45605","post","type-post","status-publish","format-standard","hentry","category-intelligence","tag-lmt"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lockheed Martin (LMT) - 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\/05\/lockheed-martin-lmt\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lockheed Martin (LMT)\" \/>\n<meta property=\"og:description\" content=\"Dans l&rsquo;analyse de contenu d&rsquo;aujourd&rsquo;hui, nous revenons sur les r\u00e8sultats du premier trimestre de Lockheed Martin (LMT), mis-\u00e0-jour mercredi dernier dans StockPointer. Lockheed Martin fait partie de notre portefeuille mod\u00e8le US-Large depuis le 2 mars 2015 et a obtenu, depuis cette date, un rendement total d&rsquo;environ 20%. 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