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
ABAC Aoxin Tianli Group 84 -2 0 8 2.05 9.66 371 5.53 +170% str.buy
ABIL Ability 18 15 15 26 0.68 6.52 859 8.41 +1,137% str.buy
ABR Arbor Realty Trust 587 27 50 39 51 8.10 19.58 142 49.15 +507% str.buy
ACRE Ares Commercial Real Esta 419 40 29 28 13.33 26.92 102 16.53 +24% buy
ACY AeroCentury 43 1 0 2 10.95 30.61 180 11.17 +2% hold
AEG Aegon ADR 26081 310 618 323 2062 6.03 14.78 145 92.42 +1,433% str.buy
AEY ADDvantage Technologies G 42 4 0 0 10 1.41 3.79 169 0.95 -33% sell
AFSI AmTrust Financial Service 3269 687 411 156 176 13.79 30.84 124 197.48 +1,332% str.buy
AGNC AGNC Investment 7356 623 799 333 21.50 43.49 102 5.53 -74% str.sell
AGO Assured Guaranty 6504 881 69 123 43.26 91.73 112 306.59 +609% str.buy
AHP Ashford Hospitality Prime 375 19 17 26 9.43 21.32 126 5.16 -45% sell
ALN American Lorain 194 3 4 0 38 0.43 5.51 1182 1.25 +190% str.buy
AMCN AirMedia Group ADR 387 150 0 62 2.57 18.19 608 1.55 -40% sell
AMID American Midstream Partne 902 218 -3 64 32 13.10 31.06 137 5.37 -59% str.sell
ANF Abercrombie&Fitch 1243 4 54 66 9.57 23.26 143 8.10 -15% hold
ANW Aegean Marine Petroleum N 590 66 52 4 39 4.90 20.71 323 3.37 -31% sell
AOI Alliance One Internationa 271 16 66 0 9 12.30 64.00 420 6.98 -43% sell
APTS Preferred Apartment Commu 884 -10 57 24 18.30 47.00 157 9.28 -49% sell
APWC Asia Pacific Wire&Cable 135 -8 0 14 2.95 6.87 133 2.44 -17% hold
AREX Approach Resources 563 -52 0 38 2.41 7.98 231 3.71 +54% str.buy
ARI Apollo Commercial Real Es 1932 158 160 94 18.07 37.64 108 22.04 +22% buy
ARLP Alliance Resource Partner 1088 136 339 248 72 18.35 53.73 193 36.29 +98% str.buy
ASFI Asta Funding 183 3 8 0 12 7.50 18.72 150 5.84 -22% sell
ATW Atwood Oceanics 3230 265 22 79 6.20 59.19 855 10.25 +65% str.buy
AVH Avianca Holdings ADR 1401 308 17 32 43 7.07 31.17 341 11.98 +70% str.buy
AWX Avalon Holdings 39 -0 0 4 2.11 10.25 386 2.56 +21% buy
BBOX Black Box 142 0 -7 7 15 3.75 9.63 157 2.41 -36% sell
BCOM B Communications 717 559 0 108 13.94 32.40 132 68.17 +389% str.buy
BCRH Blue Capital Reinsurance 183 14 19 9 19.55 39.64 103 19.37 -1% hold
BNSO Bonso Electronics Interna 15 3 0 5 2.47 5.53 124 0.69 -72% str.sell
BORN China New Borun ADR 270 9 0 26 1.29 12.24 849 2.62 +103% str.buy
BRG Bluerock Residential Grow 455 -4 34 24 10.38 25.49 146 4.79 -54% str.sell
BRT BRT Realty Trust 151 31 0 14 7.81 21.81 179 2.69 -66% str.sell
CAAS China Automotive Systems 300 0 23 1 31 5.19 13.41 158 3.94 -24% sell
CALI China Auto Logistics 24 4 0 4 2.11 11.12 427 1.52 -28% sell
CATO Cato Cl A 384 47 35 26 14.80 30.45 106 40.71 +175% str.buy
CBL CBL&Associates Properties 1229 173 226 168 8.30 19.25 132 1.83 -78% str.sell
CGA China Green Agriculture 370 8 25 0 38 1.23 12.92 950 8.24 +570% str.buy
CGI Celadon Group 381 56 25 2 27 4.45 17.26 288 11.63 +161% str.buy
CHMI Cherry Hill Mortgage Inve 154 25 16 8 18.84 47.83 154 13.55 -28% sell
CIM Chimera Investment 3124 552 454 188 19.03 43.35 128 110.90 +483% str.buy
CLD Cloud Peak Energy 952 2 22 0 74 3.16 14.39 356 3.23 +2% hold
CMO Capstead Mortgage 1248 83 110 97 9.68 22.86 136 3.22 -67% str.sell
CMRE Costamare 1074 82 75 88 6.34 21.13 233 7.39 +17% hold
CNTF China TechFaith Wireless 259 10 0 11 2.58 27.45 964 5.75 +123% str.buy
CPLP Capital Product Partners 928 52 68 136 3.50 11.24 221 3.35 -4% hold
CPSS Consumer Portfolio Servic 186 29 0 23 3.95 14.10 257 15.81 +300% str.buy
CRC California Resources -557 279 0 42 6.65 20.06 202 0.00 -100% str.sell
CXDC China XD Plastics 732 102 0 50 4.60 25.06 445 18.99 +313% str.buy
CYD China Yuchai Internationa 1112 31 75 17 41 17.39 37.83 118 43.59 +151% str.buy
CZZ Cosan Cl A 1983 226 110 455 266 7.33 17.21 135 18.64 +154% str.buy
DCP DCP Midstream 6821 236 312 483 143 30.46 73.92 143 11.52 -62% str.sell
DDE Dover Downs Gaming&Entert 116 1 0 32 0.99 3.80 284 0.91 -8% hold
DHT DHT Holdings 685 9 66 93 3.75 11.44 205 7.79 +108% str.buy
DLNG Dynagas LNG Partners 368 67 67 36 14.24 29.18 105 4.54 -68% str.sell
DRAD Digirad 66 6 14 4 19 3.80 7.84 106 1.10 -71% str.sell
DS Drive Shack 218 77 38 65 2.52 12.20 384 0.84 -67% str.sell
DX Dynex Capital 467 43 52 49 7.16 19.19 168 2.38 -67% str.sell
EARN Ellington Residential Mor 142 12 16 9 14.61 30.82 111 63.19 +333% str.buy
ELP Companhia Paranaense de E 4700 303 117 241 8.97 28.19 214 4.87 -46% sell
EQR Equity Residential 10229 4292 4774 366 67.91 151.77 123 6.99 -90% str.sell
ERA Era Group 468 -8 0 20 8.29 21.42 158 5.86 -29% sell
ESND Essendant 781 298 64 20 27 11.71 33.87 189 9.48 -19% hold
ESV ENSCO 8251 890 12 286 4.28 44.55 941 7.20 +68% str.buy
ETP Energy Transfer Partners 18642 3897 297 3542 545 18.37 62.33 239 6.77 -63% str.sell
EVK Ever-Glory International 85 7 0 15 2.40 7.98 233 8.14 +239% str.buy
EXFO EXFO 181 22 9 0 22 4.10 9.24 125 2.25 -45% sell
EXPR Express 636 57 0 77 5.84 11.92 104 20.66 +254% str.buy
EXXI Energy XXI Gulf Coast 474 2248 0 36 10.82 328.10 2932 3.32 -69% str.sell
FOSL Fossil Group 1006 355 79 0 47 7.86 22.26 183 55.49 +606% str.buy
GAIA Gaia Cl A 98 11 87 0 15 11.40 33.86 197 1.41 -88% str.sell
GASS StealthGas 574 -8 0 42 3.02 12.79 324 3.44 +14% hold
GCO Genesco 921 271 97 0 19 26.75 59.05 121 68.00 +154% str.buy
GLBR Global Brokerage Cl A -73 23 71 1 5 1.30 49.70 3723 0.00 -100% str.sell
GNRT Gener8 Maritime 1437 0 67 0 86 4.36 20.60 372 4.18 -4% hold
GNW Genworth Financial Cl A 14393 867 560 0 499 3.50 32.73 835 39.48 +1,028% str.buy
GURE Gulf Resources Inc 349 28 36 0 47 1.72 10.71 523 10.39 +504% str.buy
HCHC HC2 Holdings 54 3 112 121 40 4.68 30.03 542 0.32 -93% str.sell
HIBB Hibbett Sports 334 61 0 21 11.80 29.93 154 46.98 +298% str.buy
HMY Harmony Gold Mining ADR 2126 64 72 0 441 1.72 5.49 219 1.17 -32% sell
HOS Hornbeck Offshore Service 1403 -64 0 35 2.73 30.62 1022 9.92 +263% str.buy
HT Hersha Hospitality Trust 835 117 65 41 18.42 42.97 133 5.14 -72% str.sell
IESC IES Holdings 223 40 121 0 20 15.05 38.66 157 31.54 +110% str.buy
IFMI Institutional Financial M 39 8 2 1 12 1.15 3.93 241 0.66 -42% sell
IHC Independence Holding 437 42 123 2 17 21.65 59.76 176 21.68 +0% hold
IRDM Iridium Communications 1344 111 15 91 10.35 21.65 109 6.21 -40% sell
IVR Invesco Mortgage Capital 2242 254 204 113 17.10 39.99 134 4.95 -71% str.sell
JASO JA Solar Holdings ADR 935 99 0 47 6.28 30.71 389 19.46 +210% str.buy
JKS JinkoSolar Holding ADR 935 264 0 30 27.45 75.91 177 24.84 -10% hold
JONE Jones Energy Cl A 527 -43 2 82 1.20 3.94 228 1.61 +34% buy
KEP Korea Electric Power ADR 61892 2 6082 1816 1283 19.32 79.02 309 32.50 +68% str.buy
KGJI Kingold Jewelry 282 93 0 64 1.55 11.59 648 13.12 +746% str.buy
LIVE Live Ventures 24 0 18 0 2 10.32 57.23 455 1,414.25 +13,604% str.buy
LPG Dorian LPG 986 130 0 54 6.52 30.39 366 9.33 +43% buy
LXU LSB Industries 638 112 8 34 6.41 36.07 463 4.65 -28% sell
MHLD Maiden Holdings 1361 57 49 77 80 7.30 24.06 230 47.80 +555% str.buy
MITT AG Mortgage Investment Tr 656 64 67 28 19.14 47.38 148 5.93 -69% str.sell
MMAC MMA Capital Management 125 42 0 6 24.45 56.19 130 10.32 -58% str.sell
MN Manning&Napier 163 5 9 10 15 3.45 17.27 401 75.62 +2,092% str.buy
NAP Navios Maritime Midstream 273 25 35 19 8.71 30.47 250 3.63 -58% str.sell
NAT Nordic American Tankers 871 19 -4 126 88 5.36 16.68 211 3.82 -29% sell
NFEC NF Energy Saving 27 -2 0 7 0.85 2.42 185 0.96 +13% hold
NLY Annaly Capital Management 12568 72 1434 1221 1026 12.35 25.13 103 3.76 -70% str.sell
NMM Navios Maritime Partners 680 -53 0 82 1.93 5.05 162 2.07 +7% hold
NNA Navios Maritime Acquisiti 575 2 63 32 149 1.19 7.04 491 1.07 -11% hold
NRP Natural Resource Partners 152 97 22 13 25.15 59.06 135 3.00 -88% str.sell
NTL Nortel Inversora ADR 691 140 92 3 34.02 605.69 1680 7,974.22 +23,340% str.buy
NVGS Navigator Holdings 956 45 0 54 10.00 21.90 119 4.43 -56% str.sell
NYMT New York Mortgage Trust 848 25 68 118 111 6.21 15.82 155 3.53 -43% sell
OAKS Five Oaks Investment 142 -8 33 18 4.12 15.22 270 2.02 -51% str.sell
ONP Orient Paper 173 7 0 21 0.88 9.79 1013 4.79 +445% str.buy
ORM Owens Realty Mortgage 216 24 5 10 17.19 34.89 103 5.22 -70% str.sell
OSN Ossen Innovation ADR 90 5 0 19 1.93 5.97 209 2.24 +16% hold
PACD Pacific Drilling 2666 -37 0 20 0.68 122.86 17968 33.01 +4,754% str.buy
PDLI PDL BioPharma 751 64 17 162 2.79 7.15 156 13.75 +393% str.buy
PFIN P&F Industries Cl A 48 4 7 2 4 6.20 24.92 302 3.08 -50% str.sell
PHII PHI 600 -27 0 15 10.85 31.97 195 10.31 -5% hold
PHIIK PHI Non-Voting 600 -27 0 15 11.04 31.56 186 10.18 -8% hold
PMT PennyMac Mortgage Investm 1351 76 132 67 17.42 35.76 105 26.44 +52% str.buy
QCP Quality Care Properties 3037 81 0 94 15.18 36.70 142 8.10 -47% sell
RAS RAIT Financial Trust 454 25 58 90 1.09 9.65 786 1.26 +16% hold
RDC Rowan Cos. 5114 321 0 124 9.25 54.16 486 10.31 +11% hold
RFP Resolute Forest Products 1693 81 -81 0 87 4.75 13.88 192 4.64 -2% hold
RIG Transocean 15802 778 0 357 7.58 55.22 629 11.08 +46% buy
RLOG Rand Logistics 40 10 -4 0 18 0.27 0.57 109 0.42 +57% str.buy
RSO Resource Capital 704 -30 77 31 10.31 30.12 192 27.19 +164% str.buy
RTK Rentech 148 29 169 2 20 0.26 49.56 18961 1.51 +482% str.buy
SCKT Socket Mobile 16 4 12 0 5 4.17 13.30 219 21.91 +425% str.buy
SDLP Seadrill Partners 1193 3 281 107 86 2.67 36.50 1267 41.75 +1,463% str.buy
SDR SandRidge Mississippian T 122 16 16 50 1.33 5.63 324 1.14 -14% hold
SDRL SeaDrill 9521 -181 0 425 0.31 20.25 6432 5.59 +1,705% str.buy
SDT SandRidge Mississippian T 33 15 15 27 1.31 6.75 415 4.87 +272% str.buy
SENEA Seneca Foods Cl A 405 54 0 10 29.35 68.75 134 10.31 -65% str.sell
SFL Ship Finance Internationa 1134 146 168 94 13.50 28.65 112 3.00 -78% str.sell
SGMA Sigmatron International 60 3 2 0 4 7.60 16.85 122 11.29 +49% buy
SGOC SGOCO Group 87 37 -5 0 7 1.05 3.49 232 1.74 +66% str.buy
SLD Sutherland Asset Manageme 513 49 47 31 14.90 32.51 118 4.20 -72% str.sell
SLM SLM 5637 394 1418 284 421 10.40 32.67 214 3.11 -70% str.sell
SMRT Stein Mart 70 0 15 44 1.25 3.30 164 5.17 +313% str.buy
SNFCA Security National Financi 128 3 14 0 15 6.20 12.86 107 34.56 +457% str.buy
SORL SORL Auto Parts 139 19 0 19 5.44 12.01 121 20.85 +283% str.buy
SPP Sanchez Production Partne 360 19 44 13 14.00 50.39 260 6.72 -52% str.sell
SPU SkyPeople Fruit Juice 135 -6 0 4 2.60 25.70 888 8.26 +218% str.buy
SSI Stage Stores 380 -38 17 25 1.51 10.86 619 3.75 +148% str.buy
SSW Seaspan 1747 75 -139 203 106 6.68 18.81 182 3.95 -41% sell
STLY Stanley Furniture 20 -5 21 14 1.09 7.04 546 0.35 -68% str.sell
STNG Scorpio Tankers 1315 -25 87 169 3.22 9.64 199 1.95 -39% sell
SXCP SunCoke Energy Partners 739 74 119 120 45 16.75 41.09 145 5.99 -64% str.sell
SYNT Syntel -183 1 -57 1262 83 18.45 70.21 281 3.86 -79% str.sell
TA TravelCenters of America 552 89 -2 0 34 3.55 13.36 276 234.15 +6,496% str.buy
TIPT Tiptree Cl A 293 25 3 27 6.35 15.85 150 131.41 +1,969% str.buy
TIS Orchids Paper Products 133 8 13 14 10 10.04 25.43 153 4.14 -59% str.sell
TNK Teekay Tankers 921 8 63 47 153 1.48 9.58 547 3.84 +159% str.buy
TNP Tsakos Energy Navigation 1405 56 40 84 4.46 22.35 401 4.17 -7% hold
TOO Teekay Offshore Partners 1356 129 33 79 146 2.40 12.26 411 2.11 -12% hold
TOPS TOP Ships 47 1 0 4 1.32 11.59 778 100.59 +7,520% str.buy
TUES Tuesday Morning 227 4 0 43 1.70 5.71 236 1.31 -23% sell
TWMC Trans World Entertainment 198 39 3 0 34 1.65 5.17 214 1.18 -28% sell
UAN CVR Partners 625 41 -27 70 114 3.11 7.01 125 1.28 -59% str.sell
VC Visteon 586 45 75 1736 32 114.52 299.24 161 45.85 -60% str.sell
VIRC Virco Manufacturing 59 23 0 15 5.55 11.60 109 0.98 -82% str.sell
VSI Vitamin Shoppe 440 211 25 0 23 6.05 15.46 155 39.64 +555% str.buy
XIN Xinyuan Real Estate ADR 900 73 21 66 5.04 20.91 315 32.17 +538% str.buy
YECO Yulong Eco-Materials 47 9 0 12 0.58 7.69 1226 11.95 +1,960% str.buy
ZX China Zenix Auto Internat 367 -4 0 51 1.70 6.77 298 1.79 +5% hold

The complete list of 165 stocks matching your screening parameters:

ABAC, ABIL, ABR, ACRE, ACY, AEG, AEY, AFSI, AGNC, AGO, AHP, ALN, AMCN, AMID, ANF, ANW, AOI, APTS, APWC, AREX, ARI, ARLP, ASFI, ATW, AVH, AWX, BBOX, BCOM, BCRH, BNSO, BORN, BRG, BRT, CAAS, CALI, CATO, CBL, CGA, CGI, CHMI, CIM, CLD, CMO, CMRE, CNTF, CPLP, CPSS, CRC, CXDC, CYD, CZZ, DCP, DDE, DHT, DLNG, DRAD, DS, DX, EARN, ELP, EQR, ERA, ESND, ESV, ETP, EVK, EXFO, EXPR, EXXI, FOSL, GAIA, GASS, GCO, GLBR, GNRT, GNW, GURE, HCHC, HIBB, HMY, HOS, HT, IESC, IFMI, IHC, IRDM, IVR, JASO, JKS, JONE, KEP, KGJI, LIVE, LPG, LXU, MHLD, MITT, MMAC, MN, NAP, NAT, NFEC, NLY, NMM, NNA, NRP, NTL, NVGS, NYMT, OAKS, ONP, ORM, OSN, PACD, PDLI, PFIN, PHII, PHIIK, PMT, QCP, RAS, RDC, RFP, RIG, RLOG, RSO, RTK, SCKT, SDLP, SDR, SDRL, SDT, SENEA, SFL, SGMA, SGOC, SLD, SLM, SMRT, SNFCA, SORL, SPP, SPU, SSI, SSW, STLY, STNG, SXCP, SYNT, TA, TIPT, TIS, TNK, TNP, TOO, TOPS, TUES, TWMC, UAN, VC, VIRC, VSI, XIN, YECO, ZX

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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