Investment Themes
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% | ||
News of the components
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