{"id":45647,"date":"2015-03-03T20:07:00","date_gmt":"2015-03-03T20:07:00","guid":{"rendered":"https:\/\/wp2.inovestor.com\/2015\/03\/total-tot\/"},"modified":"2015-03-03T20:07:00","modified_gmt":"2015-03-03T20:07:00","slug":"total-tot","status":"publish","type":"post","link":"https:\/\/www.inovestor.com\/fr-ca\/2015\/03\/total-tot\/","title":{"rendered":"Total (TOT)"},"content":{"rendered":"

Dans l’analyse de contenu StockPointer de cette semaine (voir pi\u00e8ce jointe), nous jetons un coup d’\u2248\u00ecil \u00e0 Total (TOT), que nous avons retir\u00e8 de notre portefeuille mod\u00e8le ADR le 3 novembre. Download <\/a><\/p>\n

Pour la premi\u00e8re fois depuis les 5 derni\u00e8res ann\u00e8es, le rendement sur capital de Total a chut\u00e8 en dessous de 10%, g\u00e8n\u00e8rant un \u00e8cart de performance n\u00e8gatif (-0,3%). La performance \u00e8conomique de TOT est en d\u00e8clin depuis septembre 2011, et malgr\u00e8 que l’action se n\u00e8gocie pr\u00e8sentement \u00e0 un ratio P\/VI de 0,79, nous pensons que cette tendance baissi\u00e8re est de mauvais augure pour le futur. Il est aussi important de noter que le ratio P\/VI actuel est un des plus \u00e8lev\u00e8s observ\u00e8s depuis les 5 derni\u00e8res ann\u00e8es.<\/p>\n

Total se n\u00e8gocie pr\u00e8sentement \u00e0 prime par rapport \u00e0 la valeur de ses op\u00e8rations courantes (COV), avec un FGV\/VE de 10%. TOT s’est n\u00e8goci\u00e8 \u00e0 escompte par rapport \u00e0 sa COV (FGV\/VE n\u00e8gatif) de mars 2010 \u00e0 d\u00e8cembre 2013.<\/p>\n

Avec un NOPAT (12 derniers mois) en baisse depuis septembre 2011 et des charges en capital en hausse, l’EVA est pass\u00e8 de 8,7$ milliards \u00e0 112$ millions aujourd’hui. TOT g\u00e8n\u00e8re presque un EVA n\u00e8gatif sur une base 12 derniers mois.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dans l’analyse de contenu StockPointer de cette semaine (voir pi\u00e8ce jointe), nous jetons un coup d’\u2248\u00ecil \u00e0 Total (TOT), que nous avons retir\u00e8 de notre portefeuille mod\u00e8le ADR le 3 novembre. Download Pour la premi\u00e8re fois depuis les 5 derni\u00e8res ann\u00e8es, le rendement sur capital de Total a chut\u00e8 en dessous de 10%, g\u00e8n\u00e8rant un […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[160],"tags":[164],"class_list":["post-45647","post","type-post","status-publish","format-standard","hentry","category-evenements","tag-inovestor"],"acf":[],"yoast_head":"\nTotal (TOT) - 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\/2015\/03\/total-tot\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Total (TOT)\" \/>\n<meta property=\"og:description\" content=\"Dans l’analyse de contenu StockPointer de cette semaine (voir pi\u00e8ce jointe), nous jetons un coup d’\u2248\u00ecil \u00e0 Total (TOT), que nous avons retir\u00e8 de notre portefeuille mod\u00e8le ADR le 3 novembre. 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