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 2.99 9.28 210 5.39 +80% str.buy
ACRE Ares Commercial Real Esta 419 40 29 29 13.16 26.73 103 28.58 +117% str.buy
ACY AeroCentury 43 1 0 1 14.29 33.87 137 15.66 +10% hold
AEG Aegon ADR 26081 310 618 323 2117 6.06 14.40 138 15.11 +149% str.buy
AEY ADDvantage Technologies G 42 4 0 0 10 1.44 3.73 159 11.85 +723% str.buy
AFI Armstrong Flooring 624 9 50 27 16.52 33.93 105 5.76 -65% str.sell
AFSI AmTrust Financial Service 3269 687 411 156 196 9.05 27.62 205 191.11 +2,012% str.buy
AGNC AGNC Investment 7356 623 799 363 19.82 39.85 101 193.93 +878% str.buy
AGO Assured Guaranty 6504 881 69 119 36.59 94.52 158 85.18 +133% str.buy
AHL Aspen Insurance Holdings 3647 24 203 95 60 41.00 85.49 109 110.62 +170% str.buy
ALN American Lorain 194 3 4 0 38 0.25 5.51 2106 1.25 +399% str.buy
ALT Altimmune 19 2 194 0 16 2.15 63.33 2845 51.67 +2,303% str.buy
ANH Anworth Mortgage Asset 655 22 65 98 5.49 11.17 104 9.51 +73% str.buy
ANW Aegean Marine Petroleum N 590 66 52 4 38 3.75 21.04 461 3.43 -9% hold
APWC Asia Pacific Wire&Cable 136 3 0 14 2.85 10.94 284 2.46 -14% hold
ASFI Asta Funding 182 3 8 0 7 7.05 33.06 369 10.87 +54% str.buy
AVH Avianca Holdings ADR 1401 308 17 32 43 7.68 31.16 306 18.66 +143% str.buy
AVHI AV Homes 451 19 147 0 22 17.35 51.97 200 20.77 +20% hold
AWX Avalon Holdings 39 -0 0 4 2.13 10.26 381 2.56 +20% buy
AXS AXIS Capital Holdings 6272 513 172 83 51.71 116.69 126 140.45 +172% str.buy
BBOX Black Box 142 0 -7 7 15 3.25 9.38 189 2.35 -28% sell
BCRH Blue Capital Reinsurance 183 14 19 9 12.05 39.72 230 19.41 +61% str.buy
BGFV Big 5 Sporting Goods 205 4 17 11 22 6.75 15.59 131 8.75 +30% buy
BNSO Bonso Electronics Interna 16 3 0 5 2.59 6.25 141 2.99 +15% hold
BORN China New Borun ADR 270 9 0 26 1.28 12.25 857 2.63 +105% str.buy
BRG Bluerock Residential Grow 455 -4 34 24 11.34 25.01 121 4.70 -59% str.sell
CAAS China Automotive Systems 300 0 23 1 32 5.09 13.27 161 2.37 -53% str.sell
CALI China Auto Logistics 24 4 0 4 3.19 10.90 242 864.70 +27,006% str.buy
CBL CBL&Associates Properties 1229 173 226 172 5.76 18.78 226 1.79 -69% str.sell
CCUR Concurrent Computer 43 28 5 10 6.09 21.02 245 1.73 -72% str.sell
CGA China Green Agriculture 398 9 25 0 39 1.29 13.33 934 5.88 +356% str.buy
CGI Celadon Group 381 56 25 2 28 7.05 16.25 131 10.95 +55% str.buy
CIG Companhia Energetica de M 4088 106 213 1249 2.06 4.55 121 9.48 +360% str.buy
CIM Chimera Investment 3124 552 454 188 18.42 43.47 136 58.10 +215% str.buy
CLD Cloud Peak Energy 952 2 22 0 75 4.30 14.11 228 3.16 -26% sell
CMFN CM Finance 170 24 18 14 8.50 27.76 227 6.61 -22% sell
CMO Capstead Mortgage 1248 83 110 96 8.88 23.03 159 4.27 -52% str.sell
CMRE Costamare 1074 82 75 107 5.65 17.39 208 6.08 +8% hold
CNTF China TechFaith Wireless 259 10 0 11 2.56 29.18 1040 6.12 +139% str.buy
COHN Cohen&Co 39 8 2 1 1 8.40 36.31 332 6.12 -27% sell
CPLP Capital Product Partners 928 52 68 135 3.22 11.31 251 3.34 +4% hold
CPSS Consumer Portfolio Servic 186 29 0 23 4.25 14.56 243 12.45 +193% str.buy
CRESY Cresud ADR 1050 180 97 167 51 21.39 43.26 102 4,360.11 +20,284% str.buy
CXDC China XD Plastics 732 102 0 50 4.85 25.08 417 16.54 +241% str.buy
CYS CYS Investments 1536 16 174 151 8.05 16.42 104 6.86 -15% hold
CZZ Cosan Cl A 1983 226 110 455 271 8.39 16.91 101 19.66 +134% str.buy
DCP DCP Midstream 6821 236 312 483 143 34.25 73.62 115 11.48 -66% str.sell
DDE Dover Downs Gaming&Entert 116 1 0 33 0.98 3.64 272 0.87 -11% hold
DLNG Dynagas LNG Partners 368 67 67 35 12.54 29.25 133 9.41 -25% sell
DRAD Digirad 66 6 14 4 20 2.45 7.51 206 1.11 -55% str.sell
DS Drive Shack 218 77 38 67 5.14 11.85 131 0.81 -84% str.sell
DSWL Deswell Industries 76 0 1 2 16 2.85 5.73 101 1.20 -58% str.sell
DX Dynex Capital 467 43 52 49 7.01 19.13 173 5.85 -17% hold
ELP Companhia Paranaense de E 4700 303 117 255 7.20 26.62 270 4.60 -36% sell
EQR Equity Residential 10229 4292 4774 367 68.32 151.28 121 6.96 -90% str.sell
ESND Essendant 781 298 64 20 38 9.17 24.06 162 6.74 -27% sell
ESV ENSCO 8251 890 12 305 5.45 41.88 668 6.77 +24% buy
EVK Ever-Glory International 85 7 0 15 2.35 8.11 245 8.33 +255% str.buy
EXXI Energy XXI Gulf Coast 474 2248 0 33 4.90 352.61 7096 3.57 -27% sell
FOSL Fossil Group 1006 355 79 0 49 7.95 21.56 171 53.81 +577% str.buy
FTFT Future FinTech Group 135 -6 0 5 1.52 20.31 1236 6.53 +329% str.buy
GAIA Gaia Cl A 98 11 87 0 15 12.20 34.43 182 1.44 -88% str.sell
GASS StealthGas 574 -8 0 40 3.75 13.40 257 3.60 -4% hold
GLBR Global Brokerage Cl A -73 23 162 1 6 1.10 117.08 10544 0.00 -100% str.sell
GNRT Gener8 Maritime 1437 0 67 0 83 4.65 21.35 359 4.33 -7% hold
GNW Genworth Financial Cl A 14393 867 560 0 499 3.38 32.74 869 39.51 +1,069% str.buy
GURE Gulf Resources Inc 349 28 36 0 47 1.52 10.71 604 10.45 +588% str.buy
HCHC HC2 Holdings 54 3 112 121 43 5.22 28.27 442 0.30 -94% str.sell
HESM Hess Midstream Partners 2238 206 0 54 19.43 59.97 209 10.27 -47% sell
HMY Harmony Gold Mining ADR 2210 27 33 438 1.83 5.73 213 1.26 -31% sell
HOS Hornbeck Offshore Service 1403 -64 0 37 3.90 29.25 650 9.47 +143% str.buy
HT Hersha Hospitality Trust 835 117 65 42 17.48 41.72 139 4.99 -71% str.sell
IHC Independence Holding 437 42 123 2 15 27.80 68.30 146 31.11 +12% hold
INSW International Seaways 1180 -18 0 29 17.17 37.27 117 12.10 -30% sell
IVR Invesco Mortgage Capital 2242 254 204 111 17.36 40.65 134 16.62 -4% hold
JASO JA Solar Holdings ADR 935 99 0 48 7.45 30.06 304 33.89 +355% str.buy
JKS JinkoSolar Holding ADR 935 264 0 33 27.17 69.28 155 39.97 +47% buy
JONE Jones Energy Cl A 527 -43 2 96 1.08 3.34 209 1.37 +26% buy
KBSF KBS Fashion Group 83 -12 0 2 5.29 12.95 145 11.68 +121% str.buy
KEP Korea Electric Power ADR 61892 2 6082 1816 1284 17.35 78.97 355 32.54 +88% str.buy
KGJI Kingold Jewelry 282 93 0 66 2.29 11.31 394 76.37 +3,235% str.buy
LIVE Live Ventures 24 0 18 0 2 14.70 56.69 286 1,476.59 +9,945% str.buy
LPG Dorian LPG 976 -1 0 55 7.63 17.62 131 4.43 -42% sell
LXU LSB Industries 638 112 8 28 8.03 43.58 443 5.62 -30% sell
MHLD Maiden Holdings 1361 57 49 77 87 6.15 22.33 263 41.48 +574% str.buy
MITT AG Mortgage Investment Tr 656 64 67 28 19.07 47.11 147 5.89 -69% str.sell
MMAC MMA Capital Management 125 42 0 6 26.10 57.24 119 18.22 -30% sell
MN Manning&Napier 163 5 9 10 15 3.85 16.78 336 73.49 +1,809% str.buy
NAP Navios Maritime Midstream 273 25 35 21 7.82 26.81 243 7.48 -4% hold
NAT Nordic American Tankers 871 19 -4 126 102 4.15 14.34 245 3.28 -21% sell
NAVI Navient 3699 681 201 274 12.49 29.57 137 3.37 -73% str.sell
NFEC NF Energy Saving 27 -2 0 7 1.02 2.40 136 0.95 -6% hold
NNA Navios Maritime Acquisiti 575 2 63 32 150 1.29 6.97 440 1.06 -18% hold
NRP Natural Resource Partners 152 97 22 12 25.35 61.07 141 3.11 -88% str.sell
NTIP Network-1 Technologies 53 23 0 24 2.75 6.95 153 16.10 +486% str.buy
NTL Nortel Inversora ADR 691 140 92 3 43.17 629.81 1359 4,836.58 +11,104% str.buy
NVGS Navigator Holdings 956 45 0 56 9.95 21.27 114 4.30 -57% str.sell
NYMT New York Mortgage Trust 848 25 68 118 112 6.33 15.67 148 10.35 +64% str.buy
OAKS Five Oaks Investment 142 -8 33 22 4.14 12.06 191 1.60 -61% str.sell
ODP Office Depot 1852 363 529 26 519 3.28 8.22 151 6.15 +87% str.buy
ONP Orient Paper 173 7 0 21 1.27 9.70 664 4.75 +274% str.buy
ORM Owens Realty Mortgage 216 24 5 10 16.40 35.38 116 5.29 -68% str.sell
OSN Ossen Innovation ADR 90 5 0 20 2.39 5.81 143 2.19 -9% hold
PDLI PDL BioPharma 751 64 17 154 2.84 7.50 164 136.63 +4,711% str.buy
PFIN P&F Industries Cl A 48 4 7 2 4 7.40 24.59 232 3.04 -59% str.sell
PHII PHI 600 -27 0 16 11.50 29.30 155 9.45 -18% hold
PHIIK PHI Non-Voting 600 -27 0 16 12.24 29.95 145 9.66 -21% sell
PMT PennyMac Mortgage Investm 1351 76 132 67 15.32 35.72 133 14.18 -7% hold
QCP Quality Care Properties 3037 81 0 94 14.77 36.76 149 8.11 -45% sell
RAS RAIT Financial Trust 454 25 58 93 0.39 9.33 2293 1.22 +213% str.buy
RCM R1 RCM 159 177 0 105 3.87 9.95 157 1,009.41 +25,983% str.buy
RDC Rowan Cos. 5114 321 0 126 13.87 53.34 285 10.15 -27% sell
RIG Transocean 15802 778 0 391 10.35 50.37 387 10.11 -2% hold
RSO Resource Capital 704 -30 77 31 9.60 29.92 212 12.77 +33% buy
SALM Salem Media Group 214 26 9 7 26 4.90 10.26 109 2.40 -51% str.sell
SCKT Socket Mobile 16 4 12 0 6 3.49 12.00 244 20.04 +474% str.buy
SDLP Seadrill Partners 1193 3 281 107 92 3.87 34.09 781 45.46 +1,075% str.buy
SDR SandRidge Mississippian T 122 16 16 62 1.19 4.54 281 0.92 -23% sell
SDRL SeaDrill 9521 -181 0 507 0.31 17.00 5384 4.70 +1,415% str.buy
SDT SandRidge Mississippian T 33 15 15 28 1.15 6.54 468 4.72 +310% str.buy
SLM SLM 5637 394 1418 284 432 10.33 31.84 208 3.03 -71% str.sell
SMRT Stein Mart 70 0 15 48 1.14 3.03 165 4.82 +323% str.buy
SNFCA Security National Financi 133 3 12 0 16 5.20 12.01 131 22.57 +334% str.buy
SNMP Sanchez Midstream Partner 360 19 44 15 11.35 46.22 307 6.16 -46% sell
SNOA Sonoma Pharmaceuticals 21 9 0 4 4.92 15.32 211 1.22 -75% str.sell
SSI Stage Stores 380 -38 17 28 1.77 9.97 463 49.44 +2,693% str.buy
SSW Seaspan 1747 75 -139 203 120 5.90 16.55 180 7.32 +24% buy
SSY Sunlink Health Systems 22 0 3 0 9 1.49 4.04 171 0.60 -60% str.sell
STLY Stanley Furniture 20 -5 21 15 0.89 6.63 645 0.33 -63% str.sell
SVU Supervalu 376 710 650 0 38 16.32 75.92 365 2,390.86 +14,550% str.buy
SXCP SunCoke Energy Partners 739 74 119 120 46 16.95 40.24 137 3.60 -79% str.sell
SYNT Syntel -183 1 -57 1262 84 25.12 69.78 178 3.88 -85% str.sell
TA TravelCenters of America 552 51 -2 0 40 4.83 12.41 157 18.87 +291% str.buy
TIPT Tiptree Cl A 293 25 3 29 7.00 14.91 113 80.89 +1,056% str.buy
TNK Teekay Tankers 933 8 63 47 159 1.43 9.26 547 5.16 +261% str.buy
TNP Tsakos Energy Navigation 1405 56 40 84 4.22 22.34 429 4.16 -1% hold
TOO Teekay Offshore Partners 1356 129 33 79 154 2.39 11.61 386 1.99 -17% hold
TOPS TOP Ships 47 1 0 10 0.57 5.12 799 44.54 +7,715% str.buy
TWMC Trans World Entertainment 198 39 3 0 36 1.75 4.82 175 1.10 -37% sell
UAN CVR Partners 625 41 -27 70 113 3.16 7.05 123 1.29 -59% str.sell
VC Visteon 586 45 75 1736 31 129.17 307.97 138 24.46 -81% str.sell
VIRC Virco Manufacturing 59 23 0 15 5.15 11.33 120 0.96 -81% str.sell
VOXX VOXX International 390 54 4 0 24 6.35 14.72 132 3.47 -45% sell
VSI Vitamin Shoppe 440 211 25 0 24 4.20 14.88 254 38.16 +809% str.buy
VST Vistra Energy 6597 1907 22688 0 428 19.15 276.17 1342 2.74 -86% str.sell
WBT Welbilt -44 845 80 1362 139 21.61 45.45 110 1.93 -91% str.sell
WHLR Wheeler Real Estate Inves 147 5 -11 18 9 9.93 20.41 106 4.83 -51% str.sell
XELB Xcel Brands 106 12 3 0 18 2.70 5.90 119 1.27 -53% str.sell
ZX China Zenix Auto Internat 367 -4 0 52 1.54 6.73 337 1.78 +16% hold

The complete list of 149 stocks matching your screening parameters:

ABAC, ACRE, ACY, AEG, AEY, AFI, AFSI, AGNC, AGO, AHL, ALN, ALT, ANH, ANW, APWC, ASFI, AVH, AVHI, AWX, AXS, BBOX, BCRH, BGFV, BNSO, BORN, BRG, CAAS, CALI, CBL, CCUR, CGA, CGI, CIG, CIM, CLD, CMFN, CMO, CMRE, CNTF, COHN, CPLP, CPSS, CRESY, CXDC, CYS, CZZ, DCP, DDE, DLNG, DRAD, DS, DSWL, DX, ELP, EQR, ESND, ESV, EVK, EXXI, FOSL, FTFT, GAIA, GASS, GLBR, GNRT, GNW, GURE, HCHC, HESM, HMY, HOS, HT, IHC, INSW, IVR, JASO, JKS, JONE, KBSF, KEP, KGJI, LIVE, LPG, LXU, MHLD, MITT, MMAC, MN, NAP, NAT, NAVI, NFEC, NNA, NRP, NTIP, NTL, NVGS, NYMT, OAKS, ODP, ONP, ORM, OSN, PDLI, PFIN, PHII, PHIIK, PMT, QCP, RAS, RCM, RDC, RIG, RSO, SALM, SCKT, SDLP, SDR, SDRL, SDT, SLM, SMRT, SNFCA, SNMP, SNOA, SSI, SSW, SSY, STLY, SVU, SXCP, SYNT, TA, TIPT, TNK, TNP, TOO, TOPS, TWMC, UAN, VC, VIRC, VOXX, VSI, VST, WBT, WHLR, XELB, 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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