Investment Themes

Companies with pricing power

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Investment Themes

The world we live in has rarely been so unclear for companies. Economic cycles are crossing, consumption patterns are constantly changing and business models are being disrupted at lightning speed. Yet, in this apparent chaos, some companies manage to generate long-term performance. They do so thanks to an ingredient that is difficult to obtain but nevertheless necessary to thrive in an uncertain world: pricing power.

Pricing power is defined as the ability of a company to increase its prices without affecting the demand for its products or services. Companies with pricing power are thus able to modulate their pricing policy and sell at higher prices, without their sales volumes suffering, and even without their customers necessarily noticing. This pricing power is intrinsically linked to the elasticity of price to demand. If a company has no pricing power, a policy of increasing its prices would lead to a decrease in demand for its products. On the contrary, a company with pricing power can impose its price on customers because it knows that demand will remain strong. Warren Buffett once said that "pricing power is more important than good management". According to the Oracle of Omaha, "if you have the ability to raise your prices without losing customers to a competitor, you have a great business. On the contrary, if you need a prayer session before you raise your prices by a few cents, then you have a lousy business. These words convey a truth: pricing power is the best indicator for identifying a great business that can thrive over the long term because it has a sustainable competitive advantage. A company that wants to have this ability must bring to its market a unique value proposition, the result of a cross-analysis of its competitive field and its portfolio of resources (financial, human, technical, legal, etc.). This pricing power can have several origins, but it is often linked to the notion of moat to signal a company's sustainable competitive advantage. A firm's sustainable competitive advantage can take many forms: the low number of competitors or substitutes in the market, a firm's unmatched know-how, a strategic patent, a desirable and globally recognized brand, high barriers to entry and exit, or a unique or monopolistic positioning are all sustainable competitive advantages that provide pricing power. By studying these qualitative factors as well as the operational history of a company's profitability and growth, we have identified for you dozens of companies with pricing power. In an equity portfolio, these companies can contribute to the generation of resilient potential returns over time.

Our selection

Technology
Other Software
3,569B +13.94%
Technology
Application Software
161B -15.06%
Financials
Other Financial & Commodity Market Operators
65.05B +32.56%
Technology
Other Semiconductors
1,182B +8.30%
Consumer Non-Cyclical
Distilleries
249B -6.50%
Financials
Other Financial & Commodity Market Operators
11.69B +9.11%
Technology
Other Semiconductors
926B -1.86%
Energy
Other Oil & Gas Transportation Services
7.02B +28.07%
Technology
Financial Technology (Fintech) (NEC)
58.18B +11.61%
Healthcare
Other Pharmaceuticals
331B -22.70%
Financials
Securities & Commodity Exchanges
8.72B +5.59%
Financials
Other Financial & Commodity Market Operators
16.83B +31.30%
Financials
Securities & Commodity Exchanges
98.05B +17.17%
Industrials
Other Professional Information Services
154B +0.92%
Technology
Internet Security & Transactions Services
637B +7.70%
Technology
Internet Security & Transactions Services
489B +2.31%
Financials
Other Financial & Commodity Market Operators
56.98B +21.04%
Consumer Non-Cyclical
Distilleries
63.9B -15.50%
Industrials
Rating Agencies
84.66B -0.60%
Consumer Cyclical
Other Casinos & Gaming
15.1B -16.58%
Consumer Non-Cyclical
Distilleries
22.59B -11.88%
Healthcare
Other Pharmaceuticals
115B +11.35%
Financials
Other Financial & Commodity Market Operators
103B +20.64%
Financials
Other Financial & Commodity Market Operators
49.59B +11.74%
Industrials
Other Professional Information Services
42.07B -9.38%
Consumer Cyclical
Sporting & Outdoor Goods
1.27B -2.59%
Consumer Cyclical
Quick Service Restaurants
207B -0.09%
Real Estate
Other Specialized REITs
24.53B +12.00%
Industrials
Other Ground Freight & Logistics
74.68B +5.52%
Consumer Non-Cyclical
Other Tobacco
108B +27.15%
Technology
Other Internet Services
588B +19.28%
Technology
E-commerce & Auction Services
46.3B -16.57%
Consumer Cyclical
Handbags & Luggage
276B -1.77%
Healthcare
Bio Therapeutic Drugs
13.49B -5.09%
Technology
Other Semiconductors
180B +5.78%
Technology
Search Engines
2,107B -8.43%
Technology
Other Internet Services
520B +37.02%
Technology
Security Software
77.17B +6.71%
Healthcare
Veterinary Medical Equipment & Supplies
41.81B +25.76%
- - 82.31B -
Consumer Cyclical
Other Apparel & Accessories
15.73B -1.02%
Technology
Phones & Smart Phones
2,936B -21.50%
Technology
Other Semiconductor Equipment & Testing
301B -2.02%
Industrials
Industrial Valve Manufacturing
12.39B -1.46%
Technology
Semiconductor Machinery Manufacturing
29.32B -7.23%
Healthcare
Other Pharmaceuticals
228B +7.07%
Consumer Non-Cyclical
Other Tobacco
284B +51.73%
Technology
Other Software
47.55B -6.21%
Healthcare
Veterinary Drugs
69.03B -4.83%
Consumer Non-Cyclical
Energy Drinks
61.63B +20.13%
Industrials
Other Professional Information Services
88.36B +16.28%
Consumer Non-Cyclical
Other Non-Alcoholic Beverages
298B +11.16%
Consumer Cyclical
Quick Service Restaurants
38.46B +3.13%
Industrials
Other Ground Freight & Logistics
64.1B -4.41%
Basic Materials
Industrial Gas
216B +9.49%
Healthcare
Other Pharmaceuticals
254B +1.41%
Healthcare
Bio Therapeutic Drugs
54.27B -27.93%
Technology
Other IT Services & Consulting
96.34B +7.50%
Consumer Non-Cyclical
Other Brewers
28.3B -27.60%
Technology
Enterprise Software
340B +7.05%
Technology
Application Software
63.15B -0.15%
Healthcare
Other Pharmaceuticals
116B -11.66%
Healthcare
Other Pharmaceuticals
79.09B +7.65%
Industrials
Financial Information Providers
47.17B +11.12%
Healthcare
Diagnostic & Testing Substances
5.81B -6.01%
Healthcare
Other Advanced Medical Equipment & Technology
139B -15.30%
Technology
Application Software
37.87B +3.21%
Consumer Cyclical
Quick Service Restaurants
21.65B +1.40%
Consumer Non-Cyclical
Other Distillers & Wineries
56.86B -25.16%
Financials
Other Financial & Commodity Market Operators
77.19B -3.54%
Technology
Enterprise Software
16.1B +29.38%
Consumer Cyclical
Games, Toys & Children Vehicles
107B +43.30%
Consumer Cyclical
Plumbing Fixtures & Fittings
25.88B +21.10%
Basic Materials
Industrial Gas
61.28B -5.05%
Consumer Cyclical
Other Apparel & Accessories
27.4B -40.22%
Healthcare
Other Medical Equipment, Supplies & Distribution
31.76B +4.17%
Technology
Enterprise Software
16.47B +0.04%
Technology
Other Software
33.75B -41.58%
Consumer Non-Cyclical
Cosmetics & Perfumes
228B +8.23%
Healthcare
Other Advanced Medical Equipment & Technology
148B -24.54%
Consumer Cyclical
Jewelry
109B +9.43%
Consumer Non-Cyclical
Other Non-Alcoholic Beverages
45.11B +3.39%
Consumer Non-Cyclical
Consumer Goods Conglomerates
76.7B +10.40%
Healthcare
Medical Prosthetics
18.02B -16.64%
Industrials
Air & Gas Compressors
73.09B -11.46%
Consumer Non-Cyclical
Other Personal Products
370B -5.74%
Consumer Non-Cyclical
Other Household Products
47.25B +6.77%
Consumer Non-Cyclical
Consumer Goods Conglomerates
143B -1.88%
Consumer Cyclical
Other Apparel & Accessories
267B -26.98%
Consumer Non-Cyclical
Other Distillers & Wineries
25.63B -18.88%
Healthcare
Other Pharmaceuticals
6.14B +3.66%
Basic Materials
Other Commodity Chemicals
120B +15.43%
Healthcare
Other Medical Equipment, Supplies & Distribution
22.08B +4.43%
Consumer Non-Cyclical
Other Distillers & Wineries
2.74B -21.54%
Consumer Non-Cyclical
Cosmetics & Perfumes
3.29B -7.94%
Consumer Cyclical
Bicycle Manufacturing
12.46B -6.83%
Consumer Cyclical
Other Apparel & Accessories Retailers
17.5B +28.95%
Healthcare
Specialty & Advanced Pharmaceuticals
54.94B -21.59%
Industrials
Agricultural Machinery
142B +23.90%
Industrials
Other Heavy Electrical Equipment
106B -3.36%
Industrials
Other Electrical Components & Equipment
141B -9.69%
Healthcare
Veterinary Drugs
3.08B +0.79%
Healthcare
Diagnostic & Testing Substances
16.14B +14.78%
Consumer Cyclical
Quick Service Restaurants
69.83B -14.05%
Consumer Cyclical
Other Casinos & Gaming
7.02B -11.45%
Technology
Other Semiconductors
51.19B +8.92%
Consumer Non-Cyclical
Carbonated Soft Drinks
177B -15.12%
Consumer Non-Cyclical
Other Food Processing
262B +11.20%
Consumer Non-Cyclical
Distilleries
7.77B -6.78%
Industrials
Other Business Support Services
10.1B +0.80%
Consumer Cyclical
Other Broadcasting
212B +5.85%
Healthcare
Other Advanced Medical Equipment & Technology
58.5B -11.05%
Consumer Cyclical
Luxury Clothing
8.03B -2.61%
Healthcare
Glasses, Spectacles & Contact Lenses
128B +2.46%
Consumer Cyclical
Tire & Tube Manufacturers
6.98B +10.78%
- - 15.1B -
Technology
Other IT Services & Consulting
192B -12.91%
Technology
Other Computer Hardware
12.6B -7.28%
Energy
Photovoltaic Solar Systems & Equipment
4.77B -46.96%
Basic Materials
Other Specialty Chemicals
42.38B 0.00%
Consumer Cyclical
Sailing Yachts & Motorboats
1.22B -6.76%
- - 60B -
Industrials
Other Electrical Components & Equipment
190B +11.93%
Industrials
Portable Motors & Generators
7.42B -19.05%
Healthcare
Other Advanced Medical Equipment & Technology
5.96B +29.94%
Consumer Cyclical
Other Restaurants & Bars
105B +1.13%
Consumer Cyclical
Other Tires & Rubber Products
25.93B +0.31%
Healthcare
Other Biotechnology & Medical Research
12.52B +22.69%
Consumer Cyclical
Other Home Furnishings Retailers
3.54B -51.96%
Consumer Cyclical
Other Apparel & Accessories Retailers
25.51B -24.17%
Consumer Cyclical
Other Apparel & Accessories
1.09B +6.37%
Consumer Cyclical
Other Appliances, Tools & Housewares
4.77B -9.03%
Consumer Cyclical
Internet & Mail Order Department Stores
2,256B -3.13%
Consumer Cyclical
Motorcycles & Scooters
2.84B -22.44%
Technology
Other Household Electronics
157B +9.53%
Healthcare
Other Medical Equipment, Supplies & Distribution
5.41B -15.98%
Technology
Other Household Electronics
2.19B -27.18%
Healthcare
Other Pharmaceuticals
30.78B +40.86%
Industrials
Commercial Aircraft Manufacturing
148B +5.30%
Consumer Cyclical
Sports & Outdoor Footwear
87.84B -21.36%
Consumer Cyclical
Sports & Outdoor Footwear
40.61B -16.62%
- - 42.26B -
Consumer Cyclical
Watches
8.7B -17.82%
Consumer Cyclical
Other Apparel & Accessories Retailers
5.11B +7.76%
Consumer Non-Cyclical
Other Personal Products
26.88B -0.35%
Consumer Cyclical
Other Auto & Truck Manufacturers
54.23B -9.02%
Consumer Cyclical
Other Auto & Truck Manufacturers
51.72B -8.15%
Healthcare
Other Managed Healthcare
279B -39.27%
Consumer Cyclical
Other Apparel & Accessories Retailers
2.02B -18.85%
Industrials
Commercial Aircraft Manufacturing
149B +11.68%
Energy
Photovoltaic Solar Systems & Equipment
1B +24.85%
Consumer Cyclical
Other Apparel & Accessories
91.39B -27.31%

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Sector allocation

Ratings chart - Surperformance

Ratings ESG MSCI

  1. Stock Market
  2. Investment Themes
  3. Companies with pricing power