Euronext: PE Absolu

Méthode dérivée du modèle de valorisation absolue de Vitaliy Katsenelson cfr. Value Stocks Like a Pro. The Absolute PE Model
Calcul du PE Absolu:

     1) Une croissance estimée de 0% correspond à un PE de base de 7.

     2) Ajout au PE de base pour une croissance entre 0 et 17% de 0.65* le pourcentage, pour une croissance >= à 17% le coefficient multiplicateur est limité à 0.5.

     3) ajouter le pourcentage  de dividende, pour un dividende < 1% ajouter 0.5

     Pour cette sélection je n'ai retenu que les valeurs avec un ‘current ratio’ > 1.5; j'ai également éliminé les valeurs avec un dividende anormal, dividende exceptionnel, dividende excédant la croissance.

ex:  ZODIAC  PE Absolu=7+(15.98*.65)+1.71=19,097 donc, le P/E actuel vaut 80% du PE absolu ce qui indique une sous-valorisation.

PE Absolu

Symbol	Company Name	P/E	Long Term Growth Rate (%)	Dividend Yield (%)	Absolute PE	PE/PE abs	Current Ratio
ALECT	ECT INDUSTRIES SA	9.06	23.7	3.08	21.93	0.41	1.53
CTRG	CATERING INTER	20.34	20.3	1.28	18.43	1.1	1.69
CSM	CSM N.V.	8.94	16.83	5.96	23.8995	0.37	1.96
ZC	ZODIAC	15.34	15.98	1.71	19.097	0.8	1.91
SAFT	SAFT GROUPE S.A.	16.08	15	5.91	22.66	0.71	2.29
LNA	LE NOBLE AGE	14.3	14.3	0	16.295	0.88	1.54
MAN	MANUTAN INTL	10.92	12.55	3.3	18.4575	0.59	2.3
RUI	RUBIS	18.84	11.78	3.64	18.297	1.03	1.66
IGE	IGE XAO	11.31	11.6	2.31	16.85	0.67	3.26
RIN	VILMORIN CLAUSE	21.49	11.27	1.89	16.2155	1.33	1.86
GTO	GEMALTO N.V.	20.75	10.05	0.67	13.8675	1.5	1.96
RI	PERNOD RICARD SA	18.9	10.02	1.88	15.393	1.23	1.95
SK	SEB	12.98	9.71	1.76	15.0715	0.86	2.07
SLIGR	SLIGRO FOOD GROUP	12.65	8	4.68	16.88	0.75	2.13
DCH	DELACHAUX S.A.	10.65	8	1.89	14.09	0.76	2.09
BOZ	BOIZEL CHANOINE	13.93	7.95	0.81	12.5725	1.11	4.08
BIM	BIOMERIEUX	15.96	7.84	1.49	13.586	1.17	1.83
BB	BIC	17.27	6.8	2.66	14.08	1.23	3.34
INF	INFOTEL	11.06	6.2	4.63	15.66	0.71	1.71
ML	MICHELIN S.A.	8.3	5.72	3.19	13.908	0.6	1.92
TFF	TONNELLERIE F	10.91	5.6	2.09	12.73	0.86	4.73
ITP	INTER PARFUMS	13.37	5.45	2.3	12.8425	1.04	2.12
IDIP	IDI	14.92	5	4.79	15.04	0.99	2.15
BOI	BOIRON	12.06	4.6	2.99	12.98	0.93	1.81
DSM	DSM N.V.	14.78	4.16	2.24	11.944	1.24	2.3
ALGUI	LEGUIDE.COM	8.42	3.5	0	9.275	0.91	5.94
MGIC	MGI COUTIER	4.8	3.4	1.25	10.46	0.46	1.59
VETO	VETOQUINOL S.A.	12.94	3.1	1.24	10.255	1.26	2.09
IFV	INFOVISTA	15.77	2.5	0	8.625	1.83	2.69
ASM	ASM INTL	12.6	2.3	1.42	9.915	1.27	2.4

Selection US Formule Magique et Piotroski

Sélection de valeur US au moyen de la "Formule Magique" filtrés avec le F-Score de Piotroski >=8.
Le Zacks Rank ne rentre pas en compte pour la détermination de la sélection.

Symb	Current ratio	Gross Margin Growth	Piotroski F-Score	Zacks Rank	Company name
MTRX	2.17	1.15	9	4	Matrix Service Co
HCKT	2.20	1.04	9	3	The Hackett Group
NSIT	1.59	1.06	9	3	Insight Enterpris
HSIC	1.93	1.09	9	2	Henry Schein, Inc
CLC	3.75	1.16	9	2	CLARCOR Inc. Comm
CMI	1.94	1.26	9	2	Cummins Inc. Comm
KRO	2.85	2.19	8	4	Kronos Worldwide
MMS	2.51	1.07	8	4	Maximus, Inc. Com
PH	1.91	1.08	8	4	Parker-Hannifin C
MCRS	3.05	1.11	8	4	MICROS Systems, I
CHRW	1.84	1.03	8	4	C.H. Robinson Wor
FOSL	3.18	1.20	8	4	Fossil, Inc.
ATR	2.36	1.11	8	4	AptarGroup, Inc.
KAI	1.81	1.23	8	3	Kadant Inc Common
RBCN	10.86	1.45	8	3	Rubicon Technolog
DOV	2.91	1.10	8	3	Dover Corporation
MMM	2.25	1.04	8	3	3M Company Common
ITW	2.30	1.16	8	3	Illinois Tool Wor
FDS	3.02	1.11	8	3	FactSet Research
CROX	3.11	1.24	8	3	Crocs, Inc.
PLCE	3.28	1.10	8	3	The Children's Pl
CEVA	11.82	1.27	8	3	CEVA, Inc.
FLIR	5.41	1.11	8	3	FLIR Systems, Inc
AGN	4.24	1.08	8	3	Allergan, Inc. Co
HSY	1.74	1.02	8	3	The Hershey Compa
CTSH	3.38	1.25	8	3	Cognizant Technol
HIBB	2.68	1.15	8	3	Hibbett Sports, I
CHD	2.03	1.07	8	3	Church & Dwight C
ETN	1.60	1.11	8	3	Eaton Corporation
EL	1.86	1.12	8	3	Estee Lauder Comp
BDC	2.31	1.29	8	3	Belden Inc Common
IPGP	3.90	1.76	8	3	IPG Photonics Cor
LBY	1.96	1.08	8	3	Libbey, Inc. Comm
PETM	1.87	1.10	8	3	PetSmart, Inc
NKE	2.94	1.11	8	3	Nike, Inc. Common
ATHN	3.89	1.35	8	3	athenahealth, Inc
KDN	7.35	1.12	8	3	Kaydon Corporatio
CY	1.78	1.06	8	3	Cypress Semicondu
CACI	1.62	1.26	8	2	CACI Internationa
DTLK	1.57	1.27	8	2	Datalink Corporat
AVAV	6.19	1.41	8	2	AeroVironment, In
BBBY	2.86	1.07	8	2	Bed Bath & Beyond
COH	2.34	1.14	8	2	Coach, Inc. Commo
ATU	1.84	1.25	8	2	Actuant Corporati
MSM	4.94	1.16	8	2	MSC Industrial Di
AXE	2.42	1.08	8	2	Anixter Internati
CPRT	1.84	1.07	8	2	Copart, Inc.
GPC	2.07	1.11	8	2	Genuine Parts Com
FMC	1.86	1.13	8	2	FMC Corporation C
MON	1.66	1.33	8	2	Monsanto Company
FUL	2.34	1.23	8	2	H. B. Fuller Comp
DCI	2.00	1.14	8	2	Donaldson Company
ORLY	1.68	1.09	8	2	O'Reilly Automoti
CUB	2.14	0.99	8	1	Cubic Corporation
MANH	1.98	1.24	8	1	Manhattan Associa
GDI	2.07	1.28	8	1	Gardner Denver, I
EMN	2.07	0.92	8	1	Eastman Chemical
LSTR	1.67	1.17	8	1	Landstar System,
LECO	2.27	1.29	8	1	Lincoln Electric

Selection Euronext Piotroski

Sélection d'action sur Euronext Paris, Bruxelles, Amsterdam avec un F-score de Piotroski >= 7

Market	Ticker	Free Cash Flow Yield	Operating Income (Growth - TTM)	Piotroski Score	Price / Book	Total Debt / Equity	PE Ratio (TTM)	Company
EPA	TEC	0.04	0.73	8	2.37	0.36	19.12	Technip
EPA	FP	0.04	0.26	7	1.22	0.51	6.49	TOTAL S.A.
AMS	ASML	0.05	0.12	8	3.88	0.2	9.99	ASML Holding N.V.
AMS	DSM	0.07	1.73	7	0.95	0.38	8	Koninklijke DSM NV
EBR	TUB	0.07	0.3	8	0.72	0.18	28.46	Financiere de Tubize SA
EPA	ERF	0.07	1.92	7	2.83	1.46	21.4	Eurofins Scientific SE
EPA	DIM	0.07	0.33	7	1.82	0.4	15.78	Sartorius Stedim Biotech SA
EPA	DSY	0.07	0.46	9	3.47	0.15	27.96	Dassault Systemes S.A.
AMS	RAND	0.09	0.46	7	1.68	0.6	14.71	Randstad Holding nv
EPA	ALEFT	0.09	1.01	7	∞	∞	38.87	eFront S.A.
AMS	BBED	0.12	0.07	8	4.85	0.03	10.03	Beter Bed Holding N.V.
EPA	LSS	0.13	0.49	8	3.42	0.59	8.18	Lectra SA
AMS	MT	0.16	0.2	7	0.65	0.46	17.21	ArcelorMittal
AMS	ARCAD	0.16	0.14	7	2.39	1.2	11.49	ARCADIS NV
EPA	RXL	0.2	0.25	7	0.77	0.61	9.62	Rexel SA
AMS	ASM	0.21	0.74	7	2	0.27	7	ASM International N.V. (Amsterdam)
AMS	BESI	0.22	1.56	8	0.68	0.11	4.44	BE Semiconductor Industries NV
AMS	KENDR	0.22	1.01	7	1.65	0.12	10.11	Kendrion NV
EPA	ALTEV	0.24	0.03	8	∞	0.05	∞	Environnement SA
EBR	COMB	0.26	3.02	7	0.92	0.33	3.33	Compagnie Du Bois Sauvage SA
EBR	IRIS	0.27	0.89	7	0.79	0.08	14.16	I.R.I.S. Group SA
EBR	SOF	0.32	1.09	7	0.65	0.02	12.94	Sofina SA
EBR	KIN	0.32	0.02	7	2.74	0.55	11.55	Kinepolis Group NV
EBR	COFB	0.36	0.09	7	0.92	1.14	11.72	Cofinimmo NV/SA
EPA	ALMER	0.49	13.5	7	1.34	1.9	10.58	SAPMER
AMS	BOKA	0.5	0.48	7	2.03	0.47	10.68	Koninklijke Boskalis Westminster NV
EBR	SIP	0.54	0.61	7	1.53	0.01	5.51	SIPEF NV

Euronext: Value et dividende élevé

Liste de valeurs Euronext avec un dividende et un ROE moyen élevé,  un P/E bas et dont la recommandation de FT est acheter ou surperformance.

Name	Dividend Yield	Consensus	EBITDA Margin	P/E Ratio	ROE 5Y average	Industry Name
ABC Arbitrage SA	8.37%	Buy	71.84%	11.58	36.14%	Investment Services
Beter Bed Holding NV	8.09%	Outperform	12.26%	11.71	53.55%	Retail (Specialty)
Societe Internationale de Plantations d'Heveas SA	7.62%	Buy	45.67%	5.38	31.04%	Fabricated Plastic & Rubber
Neopost SA	7.38%	Outperform	30.02%	12.17	29.95%	Office Equipment
Total SA	7.16%	Outperform	20.21%	7.47	23.00%	Oil & Gas - Integrated
Macintosh Retail Group NV	7.04%	Outperform	7.12%	6.67	19.49%	Retail (Specialty)
Hitechpros SA	6.68%	Outperform	10.45%	10.39	17.41%	Software & Programming
Clasquin SA	6.52%	Outperform	4.66%	11.65	21.03%	Air Courier
Gerard Perrier Industrie SA	6.40%	Outperform	9.98%	8.98	16.89%	Electronic Instr. & Controls
Canal + SA	6.32%	Outperform	6.00%	13.12	17.33%	Broadcasting & Cable TV
Van de Velde NV	5.77%	Outperform	31.16%	12.59	24.50%	Apparel/Accessories
Sechilienne Sidec SA	5.66%	Outperform	36.85%	7.6	22.30%	Electric Utilities
Alten SA	5.50%	Outperform	10.59%	10.66	15.41%	Computer Services
VM Materiaux SA	5.31%	Outperform	5.75%	4.16	17.68%	Construction - Raw Materials
EVS Broadcast Equipment SA	5.21%	Outperform	45.63%	16	64.64%	Communications Equipment
Harvest SA	5.00%	Outperform	19.53%	13.53	29.95%	Software & Programming
Amsterdam Commodities NV	4.93%	Buy	7.85%	10.41	29.07%	Food Processing
Sligro Food Group NV	4.84%	Outperform	6.57%	12.23	16.66%	Food Processing
Bigben Interactive SA	4.83%	Outperform	13.09%	11.38	46.74%	Recreational Products
Vinci SA	4.81%	Outperform	15.80%	10.31	18.16%	Construction Services
Thermador Groupe SA	4.66%	Buy	17.13%	12.21	19.76%	Misc. Capital Goods
Reed Elsevier NV	4.58%	Outperform	18.42%	16.35	30.59%	Printing & Publishing
Maisons France Confort MFC SA	4.50%	Outperform	6.83%	6.65	23.96%	Construction Services
Royal Dutch Shell Plc	4.48%	Outperform	11.88%	6.96	18.88%	Oil & Gas - Integrated
Koninklijke Boskalis Westminster NV	4.22%	Outperform	22.88%	9.86	24.11%	Construction Services
Melexis Naamloze Vennootschap	3.98%	Outperform	33.45%	10.58	39.88%	Semiconductors
Hal Trust	3.88%	Outperform	20.02%	10.68	17.60%	Misc. Financial Services
Lectra SA	3.83%	Outperform	17.34%	6.75	16.10%	Software & Programming
Societe Des Autoroutes Paris Rhin Rhone SA	3.69%	Outperform	60.60%	13.41	112.51%	Misc. Transportation
HES Beheer NV	3.62%	Buy	24.35%	14.05	17.85%	Misc. Transportation
Stef SA	3.58%	Outperform	7.58%	8.56	16.10%	Trucking
Unilever NV	3.46%	Outperform	16.79%	16.69	33.58%	Food Processing
Pharmagest Interactive SA	3.39%	Outperform	20.63%	11.95	24.39%	Software & Programming
Rentabiliweb Group SA	3.38%	Outperform	15.54%	13.88	20.25%	Software & Programming
Akka Technologies SA	3.19%	Buy	10.17%	8.97	22.80%	Computer Services
Arcadis NV	3.17%	Outperform	11.97%	12.38	24.89%	Construction Services
Eutelsat Communications SA	3.16%	Outperform	79.24%	18.49	17.57%	Communications Services
Compagnie d'Entreprises CFE SA	3.08%	Buy	10.56%	9.27	17.72%	Construction Services
Saft Groupe SA	3.06%	Outperform	17.51%	19.5	22.34%	Appliance & Tool
Fugro NV	3.04%	Outperform	23.63%	14.64	26.95%	Construction Services
Brunel International NV	2.96%	Outperform	6.34%	19.23	22.07%	Business Services
Koninklijke Ahold NV	2.86%	Outperform	6.97%	12.99	17.20%	Retail (Grocery)
Tessi SA	2.85%	Buy	19.18%	8.03	27.33%	Software & Programming
Danone SA	2.78%	Outperform	17.68%	15.09	15.29%	Food Processing
Imtech NV	2.76%	Buy	6.44%	14.36	25.30%	Construction Services
Docdata NV	2.63%	Buy	8.34%	24.57	18.05%	Computer Services