{"id":3601,"date":"2022-01-02T16:28:10","date_gmt":"2022-01-02T15:28:10","guid":{"rendered":"https:\/\/hytecpartners.com\/shv\/?page_id=3601"},"modified":"2026-02-24T22:26:13","modified_gmt":"2026-02-24T21:26:13","slug":"modeles-de-performance","status":"publish","type":"page","link":"https:\/\/hytecpartners.com\/shv\/?page_id=3601","title":{"rendered":"Mod\u00e8les de performance"},"content":{"rendered":"
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Mod\u00e8les de Performance<\/span><\/h1>\n<\/div>\n<\/div>\n<\/div>\n
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Valoriser la Situation ou les Perspectives<\/h1>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n
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Mod\u00e8les, Pond\u00e9rations, Ajustements<\/span><\/h1>\n<\/div>\n<\/div>\n<\/div>\n
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Nous pr\u00e9senterons ici des mod\u00e8les de valorisation, des correctif en fonction de la position et du march\u00e9 , enfin nous parlerons de la pond\u00e9ration entre les mod\u00e8les <\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Mod\u00e8les <\/span><\/h5>\n<\/div>\n<\/div>\n<\/div>\n
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Valoriser la situation<\/strong> (actif corporel et incorporel, cout de substitution, .. )<\/p>\n

ou Valoriser les performances <\/strong>actuelles et les perspectives.<\/p>\n

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Pond\u00e9ration<\/span><\/h5>\n<\/div>\n<\/div>\n<\/div>\n
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Plusieurs mod\u00e8les de valorisation sont \u00e9valu\u00e9s. Une pond\u00e9ration des r\u00e9sultats est r\u00e9alis\u00e9e suivant les mod\u00e8les les plus repr\u00e9sentatifs de l’activit\u00e9 et de la finalit\u00e9 de l’op\u00e9ration d’\u00e9valuation.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Ajustements<\/span><\/h5>\n<\/div>\n<\/div>\n<\/div>\n
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Les valeurs d’entreprise sont ajust\u00e9es en fonction de leur position concurrentielle et du march\u00e9 dans lequel elles agissent.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Nous parlerons ici de <\/span>valeurs d’entreprise.<\/strong><\/p>\n

Toutes les \u00e9valuation s’appuient sur des “<\/span>comptes de r\u00e9f\u00e9rence”<\/strong> qui sont d<\/span>es comptes de cloture d’exercice ou d’arr\u00e9t\u00e9 comptable propre \u00e0 l’op\u00e9ration d’\u00e9valuation.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n

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Les Mod\u00e8les <\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Valoriser la situation (actif corporel et incorporel, cout de substitution, .. )<\/p>\n

ou alors les performances actuelles et les perspectives.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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1 – Valoriser la situation<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Mod\u00e8le de l’ actif net.<\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n
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Il est compos\u00e9 de l’actif corporel et de l’actif incorporel.<\/p>\n

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L’actif corporel<\/strong> est issu du retraitement de la la situation nette comptable. Les correctifs concernent les \u00e9l\u00e9ments particuliers de la soci\u00e9t\u00e9, Par exemple un immobilier dont la valeur n’est pas refl\u00e9t\u00e9e au bilan ou le retrait de la valeur nette des immobilisations incorporelles.<\/p>\n

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L’actif incorporel ( ou “Goodwill”) <\/strong>est une appr\u00e9ciation \u00e9conomique des savoirs faire et des acquis de l’entreprise. Ceci peut ^tre par exemple des ann\u00e9es de R&D capitalis\u00e9e dans les produits vendus, des brevets, des contrats commerciaux d’exclusivit\u00e9s, une position particuli\u00e8re de leader sur un march\u00e9..<\/p>\n

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Valeur de l’actif net = Actif corporel + Actif incorporel <\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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VOIR Un EXEMPLE<\/span><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Mod\u00e8le “Make or Buy”<\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n
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C’est l’\u00e9valuation du co\u00fbt n\u00e9c\u00e9ssaire pour reconstituer \u00e0 l’identique une entreprise \u00e9quivalente ayant les m\u00eames capacit\u00e9s.<\/span><\/p>\n

Les \u00e9l\u00e9ments \u00e0 prendre en compte peuvent \u00eatre:<\/span><\/p>\n