{"id":3408,"date":"2021-02-15T00:41:46","date_gmt":"2021-02-14T23:41:46","guid":{"rendered":"https:\/\/www.theia-recherche.com\/financial-research\/methodology\/prix-et-valeur\/"},"modified":"2021-03-17T15:44:42","modified_gmt":"2021-03-17T14:44:42","slug":"price-and-value","status":"publish","type":"page","link":"https:\/\/theia-recherche.com\/en\/financial-research\/methodology\/price-and-value\/","title":{"rendered":"Price and value"},"content":{"rendered":"<section id=\"bt_bb_section6ac4dbe6d8e82\" class=\"bt_bb_section bt_bb_layout_boxed_1500 bt_bb_vertical_align_top\"  data-bt-override-class=\"null\"><div class=\"bt_bb_port\"><div class=\"bt_bb_cell\"><div class=\"bt_bb_cell_inner\"><div class=\"bt_bb_row \"  data-bt-override-class=\"{}\"><div class=\"bt_bb_row_holder\" ><div  class=\"bt_bb_column col-xxl-6 col-xl-6 bt_bb_vertical_align_top bt_bb_align_left bt_bb_padding_double bt_bb_animation_fade_in animate\" style=\"; --column-width:6;\" data-width=\"6\" data-bt-override-class=\"{}\"><div class=\"bt_bb_column_content\"><div class=\"bt_bb_column_content_inner\"><div class=\"bt_bb_floating_element bt_bb_floating_element_horizontal_position_left bt_bb_floating_element_vertical_position_top bt_bb_floating_element_animation_delay_default bt_bb_floating_element_animation_duration_default bt_bb_floating_element_animation_style_ease_out bt_bb_hidden_xs bt_bb_hidden_ms bt_bb_hidden_sm\" style=\"mix-blend-mode: multiply; left: 35%; margin-top: 4em;\" data-speed=\"1.0\"><div class=\"bt_bb_floating_element_html\" data-speed=\"1.0\"><span  style=\"height: 4px; width: 80px; border-radius: 3px; transform: rotate(-45deg);background-color: rgba(226, 213, 198, 1);\"><\/span><\/div><\/div><div class=\"bt_bb_floating_element bt_bb_floating_element_horizontal_position_right bt_bb_floating_element_vertical_position_bottom bt_bb_floating_element_animation_delay_default bt_bb_floating_element_animation_duration_default bt_bb_floating_element_animation_style_ease_out bt_bb_hidden_xs bt_bb_hidden_ms bt_bb_hidden_sm\" style=\"mix-blend-mode: multiply; left: 1%; top: 29%;\" data-speed=\"1.6\"><div class=\"bt_bb_floating_element_html\" data-speed=\"1.6\"><span  style=\"height: 4px; width: 60px; border-radius: 3px; transform: rotate(-45deg);background-color: rgba(7, 182, 205, 1);\"><\/span><\/div><\/div><div class=\"bt_bb_separator bt_bb_border_style_none bt_bb_bottom_spacing_medium bt_bb_hidden_md bt_bb_hidden_lg\" data-bt-override-class=\"null\"><\/div><div class=\"bt_bb_separator bt_bb_border_style_none bt_bb_bottom_spacing_large bt_bb_hidden_xs bt_bb_hidden_ms bt_bb_hidden_sm\" data-bt-override-class=\"null\"><\/div><div class=\" bt_bb_row_inner\"   data-bt-override-class=\"{}\"><div class=\"bt_bb_row_inner_holder\"  ><div  class=\"bt_bb_column_inner col-xxl-10 col-xl-10 bt_bb_vertical_align_top bt_bb_align_left bt_bb_padding_normal\"  data-width=\"10\" data-bt-override-class=\"{}\"><div class=\"bt_bb_column_inner_content\"><div class=\"bt_bb_column_inner_content_inner\"><header class=\"bt_bb_headline bt_bb_dash_none bt_bb_size_extralarge bt_bb_align_inherit\" data-bt-override-class=\"{&quot;bt_bb_size_&quot;:{&quot;current_class&quot;:&quot;bt_bb_size_extralarge&quot;,&quot;def&quot;:&quot;extralarge&quot;,&quot;xl&quot;:&quot;extralarge&quot;},&quot;bt_bb_align_&quot;:{&quot;current_class&quot;:&quot;bt_bb_align_inherit&quot;,&quot;def&quot;:&quot;inherit&quot;,&quot;xl&quot;:&quot;inherit&quot;}}\"><h2 class=\"bt_bb_headline_tag\"><span class=\"bt_bb_headline_content\"><span>Price <b>and value<\/b><br \/><br \/>\n<\/span><\/span><\/h2><\/header><div class=\"bt_bb_separator bt_bb_border_style_solid bt_bb_top_spacing_normal bt_bb_bottom_spacing_normal\" data-bt-override-class=\"null\"><\/div><div  class=\"bt_bb_text\" ><\/p>\n<p>A never-ending story. The purpose of the financial analysis of a listed company is to compare a price (the stock market price, which reflects the bid\/ask at a given moment) and the estimation of a current and future intrinsic value. Depending on the company and the sector, Theia Recherche uses at least two valuation methods: DCF, stock market comparables, EVA, NAV, etc.<\/p>\n<p>Our discussions with many investors have confirmed a long-held belief: there is no point in displaying a rating because investors make up their own minds, which is the core of their skill. On the other hand, a relevant way to help them in their investment decision is to propose a valuation based on a central scenario, which Theia Recherche considers the most likely, and two alternative scenarios allowing the impact of unforeseeable positive or negative elements to be measured.<\/p>\n<p>\n<\/div><div class=\"bt_bb_separator bt_bb_border_style_none bt_bb_bottom_spacing_medium\" data-bt-override-class=\"null\"><\/div><div class=\"bt_bb_button bt_bb_color_scheme_5 bt_bb_icon_position_left bt_bb_style_lined bt_bb_size_large bt_bb_width_inline bt_bb_shape_inherit bt_bb_target_self bt_bb_align_inherit\" style=\"; --primary-color:#191919; --secondary-color:#057689;\" data-bt-override-class=\"{&quot;bt_bb_size_&quot;:{&quot;current_class&quot;:&quot;bt_bb_size_large&quot;,&quot;def&quot;:&quot;large&quot;,&quot;xl&quot;:&quot;large&quot;},&quot;bt_bb_align_&quot;:{&quot;current_class&quot;:&quot;bt_bb_align_inherit&quot;,&quot;def&quot;:&quot;inherit&quot;,&quot;xl&quot;:&quot;inherit&quot;}}\"><a href=\"\/en\/contact\" target=\"_self\" class=\"bt_bb_link\" title=\"Contact\"><span class=\"bt_bb_button_text\" >Contact<\/span><\/a><\/div><\/div><\/div><\/div><div  class=\"bt_bb_column_inner col-xxl-2 col-xl-2 bt_bb_vertical_align_top bt_bb_align_left bt_bb_padding_normal\"  data-width=\"2\" data-bt-override-class=\"{}\"><div class=\"bt_bb_column_inner_content\"><div class=\"bt_bb_column_inner_content_inner\"><\/div><\/div><\/div><\/div><\/div><div class=\"bt_bb_separator bt_bb_border_style_none bt_bb_bottom_spacing_medium bt_bb_hidden_md bt_bb_hidden_lg\" data-bt-override-class=\"null\"><\/div><div class=\"bt_bb_separator bt_bb_border_style_none bt_bb_bottom_spacing_large bt_bb_hidden_xs bt_bb_hidden_ms bt_bb_hidden_sm\" data-bt-override-class=\"null\"><\/div><\/div><\/div><\/div><div  class=\"bt_bb_column col-xxl-6 col-xl-6 bt_bb_vertical_align_bottom bt_bb_align_left btLazyLoadBackground bt_bb_column_background_image bt_bb_padding_normal bt_bb_mobile_align_to_both_edge\" style=\"padding-left: 0;background-image:url(&#039;https:\/\/theia-recherche.com\/wp-content\/plugins\/bold-page-builder\/img\/blank.gif&#039;);; --column-width:6;\" data-background_image_src='https:\/\/theia-recherche.com\/wp-content\/uploads\/2021\/03\/Methodo-5-Prix-entrepreneur-1340649-1920.jpg' data-width=\"6\" data-bt-override-class=\"{&quot;bt_bb_align_&quot;:{&quot;current_class&quot;:&quot;bt_bb_align_left&quot;,&quot;def&quot;:&quot;left&quot;,&quot;xl&quot;:&quot;left&quot;}}\"><div class=\"bt_bb_column_content\"><div class=\"bt_bb_column_content_inner\"><div class=\"bt_bb_floating_element bt_bb_floating_element_horizontal_position_right 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--><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":3,"featured_media":0,"parent":3357,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-3408","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Price and value - Theia Recherche<\/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:\/\/theia-recherche.com\/en\/financial-research\/methodology\/price-and-value\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Price and value - Theia Recherche\" \/>\n<meta property=\"og:url\" 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