Graham-Dodd Stock Screener

Intrinsic value =
           x (Book value - Goodwill)
           + (Net income-Dividends) / %
           + (Dividends) / %

Margin of safety ≥ %

 
2016 backtesting*:  +39.2%

*average 2016 performance of 394 stocks that at the beginning of 2016 had the parameters you selected.

Only on this site!

Use value-price divergence and intrinsic value to find stocks that are expected to outperform the market by a wide margin. There is instant backtesting on 2016 results.

STOCK SCREENER

STOCK SCREENING RESULTS
Stocks Listed in the USA

Ticker Company name Equity
$ mln
Goodwill
$ mln
Net
Income
$ mln
Divid.
$ mln
No. of
shares
mln
Stock
price
$
Intrinsic
value
$
Mrgn of
safety
%
X-FIN
Intrinsic
value
Potential
%
Rating
AEY ADDvantage Technologies G 40 2 0 0 10 1.71 3.67 115 0.55 -68% str.sell
AP Ampco-Pittsburgh Corporat 159 11 -12 2 12 3.60 7.84 118 24.57 +583% str.buy
AR Antero Resources Corporat 7666 0 -398 0 309 4.91 18.38 274 6.21 +26% buy
ATV Acorn International, Inc. 87 0 12 0 3 18.83 54.85 191 8.12 -57% str.sell
AUO AU Optronics Corp 6588 64 1363 181 962 2.83 14.81 423 79.52 +2,710% str.buy
AVH Avianca Holdings S.A. 1416 427 82 26 125 4.33 12.22 182 17.95 +314% str.buy
BBBY Bed Bath & Beyond Inc. 11344 1909 0 81 137 9.90 71.69 624 85.64 +765% str.buy
BCEI Bonanza Creek Energy, Inc 864 0 168 0 21 21.21 82.88 291 10.51 -50% str.sell
BH Biglari Holdings Inc. 570 68 19 0 2 99.55 288.68 190 60.72 -39% sell
BORN China New Borun Corporati 309 19 27 0 26 0.31 16.52 5228 13.72 +4,325% str.buy
BRS Bristow Group Inc 1176 20 -196 2 36 0.29 5.20 1717 8.07 +2,723% str.buy
BTI British American Tobacco 82168 159169 50720 4682 2294 38.42 87.20 127 225.78 +488% str.buy
CAI CAI International, Inc. 701 22 79 0 19 22.54 57.40 155 53.94 +139% str.buy
CC Chemours Company (The) 1014 181 995 148 167 18.81 39.19 108 59.09 +214% str.buy
CEO CNOOC Limited 57433 2278 3730 2486 10 167.94 8,322.24 4855 32,477.73 +19,239% str.buy
CHAP Chaparral Energy, Inc. 885 0 33 0 46 4.18 22.60 441 4.76 +14% hold
CHS Chico's FAS, Inc. 656 136 101 43 126 3.26 9.86 203 8.98 +175% str.buy
CLD Cloud Peak Energy Inc 1008 2 -7 0 76 0.19 12.81 6751 3.32 +1,674% str.buy
CLW Clearwater Paper Corporat 575 277 97 0 16 18.21 47.57 161 45.14 +148% str.buy
CMCM Cheetah Mobile Inc. 649 106 204 0 143 3.35 10.91 226 48.43 +1,346% str.buy
CMRE Costamare Inc. 1357 0 67 49 113 5.44 17.08 214 2.99 -45% sell
CNX CNX Resources Corporation 4330 900 797 0 199 7.14 37.35 423 4.32 -39% sell
CPE Callon Petroleum Company 2445 0 300 0 228 4.87 17.28 255 2.68 -45% sell
CPLG CorePoint Lodging Inc. 825 0 152 0 60 12.06 26.57 120 3.46 -71% str.sell
CURO CURO Group Holdings Corp. 7 178 49 182 46 10.37 21.39 106 12.90 +24% buy
CYD China Yuchai Internationa 1262 34 144 36 41 14.69 52.08 255 337.91 +2,200% str.buy
CYOU Changyou.com Limited 1198 190 0 0 52 8.87 19.21 117 33.60 +279% str.buy
DCIX Performance Shipping Inc. 131 0 4 0 14 1.00 10.44 944 2.26 +126% str.buy
DNR Denbury Resources Inc. 1142 0 323 0 460 1.11 5.99 439 5.18 +367% str.buy
DO Diamond Offshore Drilling 3585 0 -180 0 138 7.94 19.48 145 6.50 -18% hold
DVN Devon Energy Corporation 9186 841 3064 149 438 26.34 55.70 111 4.76 -82% str.sell
EGO Eldorado Gold Corporation 3644 93 -10 11 159 7.68 22.39 192 5.59 -27% sell
ERA Era Group, Inc. 463 1 14 0 22 8.46 24.41 189 5.30 -37% sell
EVC Entravision Communication 349 348 176 15 89 3.39 10.76 217 40.50 +1,095% str.buy
EXPR Express, Inc. 648 198 19 0 69 2.45 7.95 225 13.75 +461% str.buy
FEDU Four Seasons Education (C 103 0 7 19 50 1.85 4.67 152 81.41 +4,300% str.buy
FRED Fred's, Inc. 62 115 11 7 38 0.42 0.98 133 0.97 +131% str.buy
FTSI FTS International, Inc. 107 30 682 0 110 4.67 31.68 578 32.43 +595% str.buy
GASS StealthGas, Inc. 573 0 -1 0 40 3.87 14.25 268 3.60 -7% hold
GLOP GasLog Partners LP 1180 0 116 118 46 21.22 50.68 139 12.93 -39% sell
GME Gamestop Corporation 2215 1837 35 155 102 4.32 13.00 201 85.56 +1,881% str.buy
GNK Genco Shipping & Trading 1053 0 -33 0 42 10.41 21.32 105 6.32 -39% sell
GSH Guangshen Railway Company 4336 43 153 86 142 16.41 38.69 136 512.93 +3,026% str.buy
GT The Goodyear Tire & Rubbe 4864 705 708 138 232 14.79 36.10 144 35.87 +143% str.buy
GURE Gulf Resources, Inc. 280 96 0 0 47 0.93 3.93 323 5.57 +499% str.buy
HBM Hudbay Minerals Inc. 2144 6 164 4 262 5.46 11.38 108 12.32 +126% str.buy
HCHC HC2 Holdings, Inc. 88 391 162 2 45 2.02 11.50 469 7.28 +260% str.buy
HCLP Hi-Crush Partners LP 37 72 138 0 101 2.30 6.48 182 12.89 +460% str.buy
HK Halcon Resources Corporat 1197 0 536 0 160 0.17 24.19 14300 1.87 +1,011% str.buy
HMC Honda Motor Company, Ltd. 69395 6486 9266 1524 1760 25.88 66.39 157 20.68 -20% sell
HOS Hornbeck Offshore Service 1308 0 -119 0 38 1.01 18.91 1773 8.67 +759% str.buy
ICD Independence Contract Dri 392 2 -20 0 77 1.34 3.76 181 1.27 -6% hold
IRS IRSA Inversiones Y Repres 1295 426 737 48 58 10.35 82.85 700 12.85 +24% buy
JCP J.C. Penney Company, Inc. 1383 0 -116 0 315 0.90 2.55 184 6.33 +605% str.buy
JE Just Energy Group, Inc. 179 311 394 67 150 4.40 14.53 230 7.76 +76% str.buy
JP Jupai Holdings Limited 275 51 62 17 33 2.08 18.74 801 771.33 +36,983% str.buy
KBSF KBS Fashion Group Limited 64 28 0 0 2 2.75 16.16 488 8.23 +199% str.buy
KEP Korea Electric Power Corp 67250 1116 1352 1272 1284 10.95 61.73 464 12.88 +18% hold
KGJI Kingold Jewelry Inc. 305 7 0 0 66 0.64 4.51 604 29.93 +4,577% str.buy
KODK Eastman Kodak Company 57 118 94 0 43 2.45 9.57 291 19.25 +686% str.buy
LONE Lonestar Resources US Inc 223 0 19 0 25 2.50 12.90 416 81.62 +3,165% str.buy
LPI Laredo Petroleum, Inc. 1174 0 325 0 234 2.94 11.97 307 10.46 +256% str.buy
LPL LG Display Co., Ltd. 13485 856 1691 168 716 7.17 30.64 327 154.16 +2,050% str.buy
MARPS Marine Petroleum Trust 0 0 1 1 2 2.03 5.01 147 35.07 +1,628% str.buy
MMLP Martin Midstream Partners 0 41 44 78 39 6.85 14.57 113 1.77 -74% str.sell
MN Manning & Napier, Inc. 160 5 4 6 15 1.55 13.37 763 47.46 +2,962% str.buy
MPO MIDSTATES PETROLEUM COMPA 542 0 50 0 25 5.04 31.30 521 5.35 +6% hold
MR Montage Resources Corpora 572 0 9 0 1 4.28 459.08 10626 375.28 +8,668% str.buy
MT ArcelorMittal 42086 5728 5149 220 1009 16.76 62.62 274 24.73 +48% buy
MUR Murphy Oil Corporation 4829 0 411 173 173 21.57 44.76 108 92.40 +328% str.buy
NGG National Grid Transco, PL 26265 8847 10872 6258 682 51.88 151.11 191 20.19 -61% str.sell
NHTC Natural Health Trends Cor 91 2 24 17 11 7.02 25.84 268 119.69 +1,605% str.buy
NLS Nautilus Group, Inc. (The 183 119 15 0 30 2.06 4.70 128 14.48 +603% str.buy
NNA Navios Maritime Acquisiti 462 2 -79 32 13 6.50 16.92 160 23.51 +262% str.buy
NVFY Nova Lifestyle, Inc 68 4 4 0 28 0.84 3.04 262 2.30 +173% str.buy
OSN Ossen Innovation Co., Ltd 102 4 5 0 7 2.31 18.64 707 3.73 +62% str.buy
PDLI PDL BioPharma, Inc. 846 216 111 0 146 3.14 8.12 159 23.96 +663% str.buy
PEIX Pacific Ethanol, Inc. 356 3 -35 0 46 0.64 3.89 508 1.93 +202% str.buy
PETZ TDH Holdings, Inc. 11 0 0 0 9 0.56 1.17 109 0.29 -48% sell
PHII PHI, Inc. 613 78 8 0 16 1.35 36.35 2592 8.45 +526% str.buy
PRPH ProPhase Labs, Inc. 32 0 41 0 12 2.10 20.52 877 0.69 -67% str.sell
PVAC Penn Virginia Corporation 447 0 225 0 15 30.05 104.07 246 1,779.43 +5,822% str.buy
REGI Renewable Energy Group, I 765 30 292 0 37 15.55 58.76 278 4.92 -68% str.sell
RELL Richardson Electronics, L 135 9 4 3 13 5.60 12.34 120 10.10 +80% str.buy
RETO ReTo Eco-Solutions, Inc. 49 7 6 0 23 1.30 3.16 143 7.48 +475% str.buy
SCHN Schnitzer Steel Industrie 666 172 156 21 27 25.43 51.02 101 136.50 +437% str.buy
SEAC SeaChange International, 86 27 13 0 36 1.70 3.42 101 0.41 -76% str.sell
SGA Saga Communications, Inc. 179 109 55 5 6 30.46 62.61 106 50.25 +65% str.buy
SGMA SigmaTron International, 59 3 -3 0 4 2.57 9.69 277 3.29 +28% buy
SIGA SIGA Technologies Inc. 103 1 422 0 81 5.44 27.33 402 47.94 +781% str.buy
SINO Sino-Global Shipping Amer 24 0 0 0 15 0.70 1.57 126 0.40 -43% sell
SND Smart Sand, Inc. 209 18 19 0 42 2.46 6.87 179 1.15 -53% str.sell
SNDE Sundance Energy Australia 177 0 -22 0 7 1.62 9.75 502 6.46 +298% str.buy
SORL SORL Auto Parts, Inc. 173 15 27 0 19 3.66 15.18 315 23.99 +556% str.buy
STRT Strattec Security Corpora 162 0 12 2 4 22.11 62.00 180 10.83 -51% str.sell
TANH Tantech Holdings Ltd. 101 26 4 0 29 1.47 3.31 125 1.84 +25% buy
TATT TAT Technologies Ltd. 89 1 2 3 9 5.69 12.73 124 2.47 -57% str.sell
TEDU Tarena International, Inc 250 1 28 10 53 1.74 8.21 372 21.65 +1,144% str.buy
TGA TransGlobe Energy Corpora 220 36 16 3 72 1.45 3.86 166 0.64 -56% str.sell
TLC Taiwan Liposome Company, 987 0 -29 0 32 5.10 26.29 416 7.71 +51% str.buy
TOPS TOP Ships Inc. 106 0 -13 0 23 0.47 1.76 274 1.14 +142% str.buy
TSRI TSR, Inc. 8 0 0 2 2 4.46 9.18 106 8.63 +93% str.buy
TUSK Mammoth Energy Services, 508 116 59 0 45 6.41 15.35 139 68.39 +967% str.buy
TYHT Shineco, Inc. 72 2 8 0 23 0.66 4.81 630 4.07 +518% str.buy
UEPS Net 1 UEPS Technologies, 643 414 64 0 57 4.05 9.66 139 19.33 +377% str.buy
UNFI United Natural Foods, Inc 1846 556 166 0 51 9.21 41.72 353 6.35 -31% sell
VOXX VOXX International Corpor 456 205 35 0 24 4.67 17.60 277 2.59 -44% sell
ZEUS Olympic Steel, Inc. 307 27 34 1 11 12.29 41.33 236 43.25 +252% str.buy
ZKIN ZK International Group Co 37 1 7 0 17 1.29 4.29 232 4.55 +252% str.buy

The complete list of 109 stocks matching your screening parameters:

AEY, AP, AR, ATV, AUO, AVH, BBBY, BCEI, BH, BORN, BRS, BTI, CAI, CC, CEO, CHAP, CHS, CLD, CLW, CMCM, CMRE, CNX, CPE, CPLG, CURO, CYD, CYOU, DCIX, DNR, DO, DVN, EGO, ERA, EVC, EXPR, FEDU, FRED, FTSI, GASS, GLOP, GME, GNK, GSH, GT, GURE, HBM, HCHC, HCLP, HK, HMC, HOS, ICD, IRS, JCP, JE, JP, KBSF, KEP, KGJI, KODK, LONE, LPI, LPL, MARPS, MMLP, MN, MPO, MR, MT, MUR, NGG, NHTC, NLS, NNA, NVFY, OSN, PDLI, PEIX, PETZ, PHII, PRPH, PVAC, REGI, RELL, RETO, SCHN, SEAC, SGA, SGMA, SIGA, SINO, SND, SNDE, SORL, STRT, TANH, TATT, TEDU, TGA, TLC, TOPS, TSRI, TUSK, TYHT, UEPS, UNFI, VOXX, ZEUS, ZKIN

You may copy and paste this list into YOUR PORTFOLIO.


About Graham-Dodd Stock Screener

Security Analysis is arguably the most important book on value investing. You might be surprised, but there is no valuation methodology in the book. Benjamin Graham and David Dodd did not provide any indication that they used a formula or a specific algorithm for determining intrinsic value of common stocks.

The book, quite appropriately, is named "Security Analysis", not "Security Valuation". In the sections related to common-stock investment, it contains description of a general approach to selecting stocks. There is also a good treatise on how to adjust the income statement and balance sheet and what factors to look at in a comparison valuation. But you will be looking in vain for a well defined valuation process. Nonetheless, Security Analysis is a great book. It clearly distinguishes investing from speculation, and arms the investor with general guiding principles of investing.

The stock screener presented here is not the one used by the founders of the security analysis, but the one developed by us using the general approach to security valuation they employed. The stock screener compares intrinsic value of a stock with its current market price. The difference between them is called the margin of safety.

Following the spirit of Benjamin Graham and David Dodd's teachings, we assume that intrinsic value (V*) of a stock is composed of the following three components (on a per share basis):

  • Tangible book value (TBV), which serves as a proxy for assets' replacement costs or assets' fair value.
  • Value attributed to retained earnings, which are defined as the difference between Net Income (NI) and Dividends (Div). The value of this component is calculated as the value of a perpetual bond with the coupon equal to the company's average yearly retained earnings, and the required rate of return for retained earnings (RRRre) of 20%.
  • Value attributed to dividends. The value of this component is calculated as the value of a perpetual bond with the coupon equal to the company's average yearly dividend (Div) and the required rate of return for dividends (RRRd) of 10%.

Thus, using the Graham and Dodd's approach to security selection we came up with the following very simplified formula for valuation of common stocks:

           V* = TBV + ((NI – Div) / RRRre) + (Div / RRRd)

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