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
AAV Advantage Oil&Gas 1030 0 74.7 0 185 3.30 7.59 130 1.39 -58% str.sell
ABAC Renmin Tianli Group 91 2 1.1 0 8 2.23 11.81 430 6.81 +205% str.buy
ACY AeroCentury 0 1 7.4 0 1 15.75 36.00 129 342.27 +2,073% str.buy
AKG Asanko Gold 429 0 6.1 0 203 1.13 2.26 100 0.53 -53% str.sell
ALO Alio Gold 197 0 11.9 0 39 1.43 6.58 360 3.47 +143% str.buy
ALT Altimmune 32 34 193.9 0 7 0.40 138.21 34454 0.89 +123% str.buy
AMS American Shared Hospital 30 0 1.9 0 6 2.92 6.58 125 1.26 -57% str.sell
ANFI Amira Nature Foods 262 3 25.1 0 37 1.97 10.39 428 3.10 +57% str.buy
ANW Aegean Marine Petroleum N 590 74 51.9 0 45 1.57 17.23 998 3.52 +124% str.buy
APWC Asia Pacific Wire&Cable 136 0 2.9 0 14 2.63 10.75 309 2.43 -8% hold
ASPS Altisource Portfolio Solu 339 206 308.9 0 18 34.00 93.19 174 29.97 -12% hold
BH Biglari Holdings 571 67 50.1 0 2 185.83 377.25 103 70.92 -62% str.sell
BIDU Baidu ADR 17434 3215 2766.2 0 35 259.98 801.43 208 4,789.05 +1,742% str.buy
BORN China New Borun ADR 269 19 9.2 0 26 1.10 11.38 935 2.40 +119% str.buy
BTE Baytex Energy 1504 0 68.5 0 235 3.26 7.86 141 1.60 -51% str.sell
BXE Bellatrix Exploration 608 0 -71.8 0 49 0.95 5.08 435 3.10 +227% str.buy
CAI CAI International 564 24 72.1 0 19 22.06 47.39 115 7.11 -68% str.sell
CALI China Auto Logistics 24 0 4 0 4 2.37 11.00 364 34.20 +1,343% str.buy
CETX Cemtrex 39 3 4.4 0 10 2.02 5.80 187 1.02 -50% sell
CGA China Green Agriculture 398 32 25.2 0 38 1.15 12.95 1026 4.52 +293% str.buy
CGI Celadon Group 381 62 24.8 0 28 3.45 15.82 359 4.25 +23% buy
CIEN Ciena 2136 368 1262 0 142 25.83 56.89 120 30.80 +19% hold
CLD Cloud Peak Energy 1008 2 -6.6 0 73 3.18 13.33 319 3.45 +8% hold
CLRO ClearOne 77 18 2.4 0 9 3.63 7.89 117 4.09 +13% hold
CLW Clearwater Paper 575 277 97.3 0 16 23.60 49.03 108 34.71 +47% buy
CMRE Costamare 1219 0 72.9 0 101 7.40 15.68 112 3.02 -59% str.sell
CPLP Capital Product Partners 933 0 38.5 0 124 3.12 9.08 191 1.88 -40% sell
CSS CSS Industries 294 64 28.5 0 9 16.31 41.39 154 21.99 +35% buy
CXDC China XD Plastics 713 32 31.6 0 50 3.61 16.78 365 29.30 +712% str.buy
DAC Danaos 549 0 83.9 0 110 1.70 8.80 418 1.25 -27% sell
EBR Centrais Eletricas Brasil 13576 234 1100.9 0 1087 4.62 17.34 275 1,839.16 +39,709% str.buy
EGO Eldorado Gold 3644 93 -9.9 0 754 1.14 4.64 307 1.18 +3% hold
ELP Companhia Paranaense de E 4565 1984 294.4 0 274 5.65 14.79 162 6.20 +10% hold
ESV ENSCO 8732 0 -303.7 0 333 6.81 21.66 218 6.56 -4% hold
EURN Euronav 1888 0 204 0 158 8.45 18.41 118 5.02 -41% sell
EVC Entravision Communication 349 348 176.3 0 90 4.75 9.81 106 1,389.75 +29,158% str.buy
EVK Ever-Glory International 104 6 12.5 0 15 3.63 10.70 195 27.65 +662% str.buy
FTFT Future FinTech Group 135 32 -5.5 0 4 1.95 18.88 868 8.37 +329% str.buy
GASS StealthGas 574 0 -7.8 0 40 3.78 13.38 254 3.59 -5% hold
GLBS Globus Maritime 44 0 -6.5 0 3 0.44 3.83 771 3.67 +733% str.buy
GLOP GasLog Partners 910 0 112.8 0 25 24.05 58.96 145 9.10 -62% str.sell
GLOW Glowpoint 12 8 5.8 0 38 0.18 0.87 382 0.03 -86% str.sell
GPOR Gulfport Energy 3102 0 435.2 0 180 11.86 29.32 147 4.31 -64% str.sell
GURE Gulf Resources Inc 377 29 2.6 0 47 1.33 7.68 478 5.65 +325% str.buy
HBM Hudbay Minerals 2144 6 163.9 0 244 5.30 12.12 129 11.85 +124% str.buy
HEBT Hebron Technology Cl A 31 1 5.9 0 12 1.74 4.96 185 15.97 +818% str.buy
HGSH China HGS Real Estate 162 0 6.3 0 45 1.61 4.30 167 0.90 -44% sell
HK Halcon Resources 1072 0 535.7 0 133 3.77 28.20 648 2.02 -47% sell
HNRG Hallador Energy 249 0 33.1 0 30 6.58 13.82 110 2.08 -68% str.sell
HOS Hornbeck Offshore Service 1438 0 27.4 0 37 4.86 42.57 776 9.72 +100% str.buy
JCTCF Jewett-Cameron Trading 20 0 2.7 0 2 7.90 16.75 112 15.10 +91% str.buy
JE Just Energy Group -112 268 334.6 0 147 3.68 8.80 139 1.62 -56% str.sell
JMEI Jumei International Holdi 560 14 20.5 0 149 2.07 4.35 110 2.88 +39% buy
KBSF KBS Fashion Group 83 1 -11.9 0 2 5.08 11.25 121 10.25 +102% str.buy
KEP Korea Electric Power ADR 59450 815 5925.1 0 642 13.62 137.48 909 122.19 +797% str.buy
KGJI Kingold Jewelry 390 0 26.2 0 66 1.25 7.89 532 86.19 +6,795% str.buy
KODK Eastman Kodak 57 118 94 0 43 3.70 9.51 157 15.12 +309% str.buy
KT KT ADR 9474 2506 587.1 0 245 12.84 40.42 215 20.03 +56% str.buy
LPG Dorian LPG 976 0 -1.4 0 55 7.80 17.62 126 4.44 -43% sell
LPL LG Display ADR 10739 742 751.6 0 358 9.54 38.42 303 6.98 -27% sell
MN Manning&Napier 160 5 3.6 0 14 3.05 12.36 305 51.16 +1,577% str.buy
MNK Mallinckrodt 6522 11858 2134.4 0 98 21.66 54.45 151 87.47 +304% str.buy
NAO Nordic American Offshore 234 0 -32.2 0 21 1.16 3.48 200 2.79 +140% str.buy
NAT Nordic American Tankers 871 19 -4.5 0 93 2.39 8.92 273 2.29 -4% hold
NAVB Navidea Biopharmaceutical 11 0 74.9 0 162 0.21 2.38 1033 0.02 -92% str.sell
NHLD National Holdings 39 10 12.5 0 12 3.23 7.63 136 66.18 +1,949% str.buy
NL NL Industries 335 27 116.1 0 49 8.55 18.13 112 3.45 -60% str.sell
NNA Navios Maritime Acquisiti 573 2 63 0 150 0.59 5.91 901 1.26 +114% str.buy
NTIP Network-1 Technologies 53 1 23.2 0 23 2.90 7.30 152 451.55 +15,471% str.buy
OBE Obsidian Energy 1701 0 -66 0 504 1.04 2.72 162 0.84 -19% hold
ONP Orient Paper 173 0 7.3 0 21 1.00 9.98 898 2.06 +106% str.buy
OPHT Ophthotech 38 0 114.2 0 36 2.61 16.92 548 0.26 -90% str.sell
ORIG Ocean Rig UDW Cl A 2203 0 -5.4 0 25 27.32 87.04 219 22.03 -19% hold
PBIB Porter Bancorp 0 0 38.5 0 6 14.45 32.08 122 0.00 -100% str.sell
PDLI PDL BioPharma 846 216 110.7 0 155 2.54 7.64 201 63.71 +2,408% str.buy
PHI PLDT ADR 108175 70280 20006 0 216 25.29 638.54 2425 5,695.95 +22,423% str.buy
PIR Pier 1 Imports 292 0 30.1 0 81 2.16 5.46 153 8.27 +283% str.buy
PKX POSCO ADR 35091 5047 855.5 0 80 67.54 429.02 535 93.89 +39% buy
PRPH ProPhase Labs 33 0 41.8 0 16 3.00 15.13 404 0.52 -83% str.sell
PRTS U.S. Auto Parts Network 40 1 24 0 35 1.39 4.54 227 0.38 -73% str.sell
QD Qudian ADR 779 0 83 0 79 7.55 15.11 100 6.06 -20% hold
RDC Rowan Cos. 5386 0 72.7 0 126 14.32 45.63 219 10.69 -25% sell
RYAM Rayonier Advanced Materia 694 60 325 0 43 17.08 52.53 208 16.85 -1% hold
SDLP Seadrill Partners 0 3 281 0 75 3.72 18.69 403 15.87 +327% str.buy
SGMA Sigmatron International 62 7 1.4 0 4 7.20 15.50 115 6.78 -6% hold
SINO Sino-Global Shipping Amer 19 0 3.6 0 9 1.19 4.11 245 0.53 -56% str.sell
SKM SK Telecom ADR 13359 4732 1389.2 0 71 23.44 219.34 836 183.27 +682% str.buy
SMFG Sumitomo Mitsui Financial 0 0 5667 0 1414 7.79 20.04 157 0.00 -100% str.sell
SNOA Sonoma Pharmaceuticals 21 0 9.3 0 4 2.41 16.88 600 1.31 -46% sell
SORL SORL Auto Parts 139 8 27 0 19 4.82 14.00 190 45.03 +834% str.buy
SSI Stage Stores 380 15 -37.9 0 27 2.36 6.50 175 3.38 +43% buy
SSW Seaspan 1949 75 175.2 0 106 9.03 25.94 187 4.42 -51% str.sell
SSY Sunlink Health Systems 22 2 2.7 0 9 1.40 3.72 166 0.56 -60% str.sell
STON StoneMor Partners 841 136 -30.5 0 35 3.57 15.79 342 5.04 +41% buy
SVU Supervalu 376 749 650 0 38 20.61 75.71 267 45.75 +122% str.buy
SWN Southwestern Energy 1979 0 1046 0 498 5.32 14.48 172 0.99 -81% str.sell
TA TravelCenters of America 567 128 9.3 0 40 4.60 12.14 164 2.74 -40% sell
TAHO Tahoe Resources 2625 112 81.8 0 313 4.54 9.34 106 2.01 -56% str.sell
TANH Tantech Holdings 80 2 4.3 0 23 1.43 4.33 203 1.01 -29% sell
TIS Orchids Paper Products 142 21 6.7 0 10 4.24 15.45 264 3.03 -29% sell
TKC Turkcell Iletisim Hizmetl 39549 722 5222 0 2200 6.07 29.52 386 565.08 +9,209% str.buy
TNK Teekay Tankers 921 26 62.9 0 156 1.04 7.75 646 3.59 +245% str.buy
TNP Tsakos Energy Navigation 1405 0 55.8 0 85 3.37 19.81 488 4.13 +23% buy
TWMC Trans World Entertainment 198 67 3.2 0 32 0.93 4.59 394 1.02 +10% hold
TYHT Shineco 62 1 8.5 0 21 1.35 4.93 265 2.76 +105% str.buy
VIRC Virco Manufacturing 59 0 22.8 0 15 4.70 11.53 145 0.98 -79% str.sell
VISI Volt Information Sciences 84 0 27.1 0 21 3.85 10.45 171 1.00 -74% str.sell
VSLR Vivint Solar 781 1 209.1 0 113 5.30 16.15 205 1.73 -67% str.sell
XIN Xinyuan Real Estate ADR 900 0 73 0 133 4.60 9.51 107 54.00 +1,074% str.buy

The complete list of 109 stocks matching your screening parameters:

AAV, ABAC, ACY, AKG, ALO, ALT, AMS, ANFI, ANW, APWC, ASPS, BH, BIDU, BORN, BTE, BXE, CAI, CALI, CETX, CGA, CGI, CIEN, CLD, CLRO, CLW, CMRE, CPLP, CSS, CXDC, DAC, EBR, EGO, ELP, ESV, EURN, EVC, EVK, FTFT, GASS, GLBS, GLOP, GLOW, GPOR, GURE, HBM, HEBT, HGSH, HK, HNRG, HOS, JCTCF, JE, JMEI, KBSF, KEP, KGJI, KODK, KT, LPG, LPL, MN, MNK, NAO, NAT, NAVB, NHLD, NL, NNA, NTIP, OBE, ONP, OPHT, ORIG, PBIB, PDLI, PHI, PIR, PKX, PRPH, PRTS, QD, RDC, RYAM, SDLP, SGMA, SINO, SKM, SMFG, SNOA, SORL, SSI, SSW, SSY, STON, SVU, SWN, TA, TAHO, TANH, TIS, TKC, TNK, TNP, TWMC, TYHT, VIRC, VISI, VSLR, XIN

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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