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 2.34 8.98 284 5.22 +123% str.buy
ABR Arbor Realty Trust 587 27 50 39 61 8.01 16.40 105 53.09 +563% str.buy
ACRE Ares Commercial Real Esta 419 40 29 29 13.22 26.61 101 28.22 +113% str.buy
ACY AeroCentury 43 1 0 1 14.30 33.87 137 15.66 +10% hold
AEG Aegon ADR 26081 310 618 323 2114 5.81 14.42 148 15.13 +160% str.buy
AEY ADDvantage Technologies G 42 4 0 0 11 1.43 3.37 136 0.84 -41% sell
AFI Armstrong Flooring 624 9 50 28 15.18 33.36 120 5.66 -63% str.sell
AFSI AmTrust Financial Service 3269 687 411 156 197 12.90 27.51 113 188.53 +1,361% str.buy
AGO Assured Guaranty 6504 881 69 119 42.26 94.75 124 85.38 +102% str.buy
AHL Aspen Insurance Holdings 3647 24 203 95 60 41.35 85.31 106 110.39 +167% str.buy
ALN American Lorain 194 3 4 0 38 0.36 5.51 1431 1.25 +246% str.buy
ALT Altimmune 19 2 194 0 15 2.53 63.99 2429 49.00 +1,837% str.buy
ANW Aegean Marine Petroleum N 590 66 52 4 39 4.05 20.82 414 3.39 -16% hold
APWC Asia Pacific Wire&Cable 136 3 0 13 2.85 11.67 309 2.63 -8% hold
ASFI Asta Funding 182 3 8 0 7 7.70 32.86 327 10.80 +40% buy
ATW Atwood Oceanics 3230 265 22 79 8.65 58.69 578 10.16 +17% hold
AVH Avianca Holdings ADR 1401 308 17 32 43 7.95 31.37 295 18.79 +136% str.buy
AVHI AV Homes 451 19 147 0 23 16.60 51.45 210 20.55 +24% buy
AWX Avalon Holdings 39 -0 0 4 1.85 10.26 454 2.56 +39% buy
AXS AXIS Capital Holdings 6272 513 172 84 57.34 115.66 102 139.21 +143% str.buy
BBOX Black Box 142 0 -7 7 16 3.08 8.85 187 2.21 -28% sell
BCOM B Communications 717 559 0 105 14.41 33.38 132 73.30 +409% str.buy
BCRH Blue Capital Reinsurance 183 14 19 9 16.25 39.62 144 19.36 +19% hold
BGFV Big 5 Sporting Goods 205 4 17 11 22 7.40 15.79 113 8.86 +20% hold
BNSO Bonso Electronics Interna 15 3 0 5 2.26 6.02 166 0.75 -67% str.sell
BORN China New Borun ADR 270 9 0 25 1.27 12.41 877 2.66 +109% str.buy
BRG Bluerock Residential Grow 455 -4 34 24 10.40 25.01 140 4.70 -55% str.sell
BRT BRT Apartments 151 31 0 14 10.58 22.34 111 2.76 -74% str.sell
BSPM Biostar Pharmaceuticals 37 -6 0 3 1.21 2.59 114 3.43 +183% str.buy
CAAS China Automotive Systems 300 0 23 1 32 5.30 12.97 145 2.32 -56% str.sell
CALI China Auto Logistics 24 4 0 4 2.08 10.43 402 827.59 +39,688% str.buy
CATO Cato Cl A 384 47 35 26 13.19 30.00 127 40.29 +205% str.buy
CBL CBL&Associates Properties 1229 173 226 176 8.18 18.35 124 1.75 -79% str.sell
CGA China Green Agriculture 370 8 25 0 38 1.23 12.74 935 8.21 +567% str.buy
CGI Celadon Group 381 56 25 2 28 6.50 16.44 153 11.07 +70% str.buy
CIM Chimera Investment 3124 552 454 188 19.37 43.38 124 57.98 +199% str.buy
CLD Cloud Peak Energy 952 2 22 0 80 3.34 13.23 296 2.96 -11% hold
CLWT Euro Tech Holdings 15 1 0 0 2 3.30 6.90 109 21.34 +547% str.buy
CMO Capstead Mortgage 1248 83 110 96 9.58 23.10 141 4.30 -55% str.sell
CMRE Costamare 1074 82 75 105 6.13 17.67 188 6.18 +1% hold
CNTF China TechFaith Wireless 259 10 0 10 2.50 30.32 1113 6.35 +154% str.buy
CPLP Capital Product Partners 928 52 68 135 3.55 11.34 220 3.35 -6% hold
CPSS Consumer Portfolio Servic 186 29 0 22 4.50 15.33 241 13.11 +191% str.buy
CUO Continental Materials 52 7 4 0 2 19.05 38.64 103 100.79 +429% str.buy
CXDC China XD Plastics 732 102 0 50 4.66 25.08 438 16.54 +255% str.buy
DCP DCP Midstream 6821 236 312 483 144 33.15 73.56 122 11.47 -65% str.sell
DDE Dover Downs Gaming&Entert 116 1 0 33 1.04 3.65 251 0.88 -16% hold
DLNG Dynagas LNG Partners 368 67 67 32 13.70 32.40 136 10.42 -24% sell
DRAD Digirad 66 6 14 4 20 3.25 7.51 131 1.11 -66% str.sell
DS Drive Shack 218 77 38 67 3.08 11.89 286 0.82 -73% str.sell
DSWL Deswell Industries 76 0 1 2 16 2.65 5.62 112 1.17 -56% str.sell
DX Dynex Capital 467 43 52 49 7.19 19.19 167 5.74 -20% sell
ELP Companhia Paranaense de E 4700 303 117 241 9.37 28.19 201 4.87 -48% sell
EQR Equity Residential 10229 4292 4774 367 66.72 151.35 127 6.97 -90% str.sell
ESV ENSCO 8251 890 12 307 5.54 41.57 650 6.72 +21% buy
EVK Ever-Glory International 85 7 0 14 2.45 8.29 238 8.51 +247% str.buy
EXXI Energy XXI Gulf Coast 474 2248 0 32 10.25 364.60 3457 3.69 -64% str.sell
FOSL Fossil Group 1006 355 79 0 51 9.00 20.51 128 51.20 +469% str.buy
FTFT Future FinTech Group 135 -6 0 6 2.26 19.04 742 6.12 +171% str.buy
GAIA Gaia Cl A 98 11 87 0 15 11.30 35.04 210 1.46 -87% str.sell
GASS StealthGas 574 -8 0 41 3.32 12.95 290 3.48 +5% hold
GCO Genesco 921 271 97 0 21 25.15 52.87 110 61.39 +144% str.buy
GLBR Global Brokerage Cl A -73 23 71 1 6 1.35 41.65 2985 0.00 -100% str.sell
GNRT Gener8 Maritime 1437 0 67 0 86 4.84 20.54 324 4.16 -14% hold
GNW Genworth Financial Cl A 14393 867 560 0 488 3.83 33.43 773 40.35 +953% str.buy
GURE Gulf Resources Inc 349 28 36 0 47 1.79 10.76 501 10.51 +487% str.buy
HCHC HC2 Holdings 54 3 112 121 42 4.99 28.71 475 0.30 -94% str.sell
HESM Hess Midstream Partners 2238 206 0 55 22.26 59.30 166 10.15 -54% str.sell
HGSH China HGS Real Estate 155 5 0 44 1.42 4.11 189 4.67 +229% str.buy
HIBB Hibbett Sports 334 61 0 21 13.75 30.13 119 47.48 +245% str.buy
HMY Harmony Gold Mining ADR 2126 64 72 0 449 1.89 5.40 186 1.15 -39% sell
HOS Hornbeck Offshore Service 1403 -64 0 37 4.01 29.46 635 9.54 +138% str.buy
HT Hersha Hospitality Trust 835 117 65 42 18.41 41.70 126 4.99 -73% str.sell
IESC IES Holdings 223 40 121 0 21 16.65 36.76 121 19.92 +20% hold
IFMI Institutional Financial M 39 8 2 1 13 1.16 3.63 213 0.61 -47% sell
IHC Independence Holding 437 42 123 2 15 24.40 66.95 174 28.94 +19% hold
IRDM Iridium Communications 1344 111 15 97 9.95 20.41 105 6.08 -39% sell
IVR Invesco Mortgage Capital 2242 254 204 112 17.10 40.62 138 16.21 -5% hold
JASO JA Solar Holdings ADR 935 99 0 48 8.19 29.62 262 22.01 +169% str.buy
JKS JinkoSolar Holding ADR 935 264 0 32 26.29 70.05 166 22.74 -14% hold
JONE Jones Energy Cl A 527 -43 2 98 1.63 3.29 102 1.35 -17% hold
KBSF KBS Fashion Group 83 -12 0 2 2.25 11.50 411 10.38 +361% str.buy
KEP Korea Electric Power ADR 61892 2 6082 1816 1299 17.52 78.02 345 32.15 +83% str.buy
KGJI Kingold Jewelry 282 93 0 64 1.83 11.59 534 78.26 +4,176% str.buy
KOSS Koss 18 1 0 7 1.52 3.27 115 14.20 +834% str.buy
KT KT ADR 9873 219 614 159 453 14.13 29.82 111 39.55 +180% str.buy
LIVE Live Ventures 24 0 18 0 2 10.77 56.77 427 1,402.52 +12,922% str.buy
LPG Dorian LPG 976 -1 0 56 7.51 17.39 132 4.37 -42% sell
LXU LSB Industries 638 112 8 27 7.50 46.14 515 5.94 -21% sell
MHLD Maiden Holdings 1361 57 49 77 86 7.65 22.48 194 41.76 +446% str.buy
MITT AG Mortgage Investment Tr 656 64 67 28 19.48 47.18 142 5.90 -70% str.sell
MMAC MMA Capital Management 125 42 0 6 24.95 57.24 129 17.75 -29% sell
MN Manning&Napier 163 5 9 10 15 3.70 16.53 347 72.41 +1,857% str.buy
NAP Navios Maritime Midstream 273 25 35 20 7.44 28.87 288 8.06 +8% hold
NAT Nordic American Tankers 871 19 -4 126 106 5.37 13.82 157 3.17 -41% sell
NAVI Navient 3699 681 201 274 14.06 29.55 110 3.37 -76% str.sell
NFEC NF Energy Saving 27 -2 0 7 0.84 2.51 198 1.00 +18% hold
NNA Navios Maritime Acquisiti 575 2 63 32 155 1.25 6.74 440 1.02 -18% hold
NRP Natural Resource Partners 152 97 22 12 25.00 60.68 143 3.09 -88% str.sell
NSEC National Security Group 48 3 0 2 12.15 25.62 111 43.26 +256% str.buy
NTL Nortel Inversora ADR 691 140 92 3 38.15 701.93 1740 5,390.48 +14,030% str.buy
NYMT New York Mortgage Trust 848 25 68 118 112 6.34 15.67 147 10.35 +63% str.buy
OAKS Five Oaks Investment 142 -8 33 22 4.24 11.94 182 1.59 -63% str.sell
ONP Orient Paper 173 7 0 21 0.80 9.70 1112 4.75 +493% str.buy
OSN Ossen Innovation ADR 90 5 0 19 1.55 6.07 291 2.28 +47% buy
PACD Pacific Drilling 2666 -37 0 19 0.45 130.37 28872 35.02 +7,683% str.buy
PDLI PDL BioPharma 751 64 17 162 3.31 7.13 115 129.09 +3,800% str.buy
PFIN P&F Industries Cl A 48 4 7 2 4 7.70 24.13 213 2.98 -61% str.sell
PHII PHI 600 -27 0 16 12.16 28.60 135 9.23 -24% sell
PHIIK PHI Non-Voting 600 -27 0 16 12.22 29.97 145 9.67 -21% sell
PMT PennyMac Mortgage Investm 1351 76 132 67 16.99 35.74 110 14.44 -15% hold
QCP Quality Care Properties 3037 81 0 93 14.68 36.94 152 8.15 -45% sell
RAS RAIT Financial Trust 454 25 58 89 0.60 9.78 1529 1.28 +113% str.buy
RCM R1 RCM 159 177 0 105 3.38 9.95 194 1,009.39 +29,764% str.buy
RDC Rowan Cos. 5114 321 0 128 11.87 52.44 342 9.98 -16% hold
RFP Resolute Forest Products 1693 81 -81 0 93 4.90 12.92 164 4.31 -12% hold
RIG Transocean 15802 778 0 405 9.77 48.59 397 9.75 -0% hold
RSO Resource Capital 704 -30 77 32 10.34 29.46 185 12.57 +22% buy
RTK Rentech 148 29 169 2 23 0.34 42.45 12386 1.30 +281% str.buy
SCKT Socket Mobile 16 4 12 0 6 3.71 11.97 223 20.00 +439% str.buy
SDLP Seadrill Partners 1193 3 281 107 93 3.63 33.80 831 44.86 +1,136% str.buy
SDR SandRidge Mississippian T 122 16 16 62 1.34 4.57 241 0.93 -31% sell
SDRL SeaDrill 9521 -181 0 524 0.48 16.46 3328 4.55 +847% str.buy
SDT SandRidge Mississippian T 33 15 15 29 1.29 6.39 395 4.61 +257% str.buy
SGOC SGOCO Group 87 37 -5 0 10 1.18 2.46 109 1.23 +4% hold
SKYS Sky Solar Holdings ADR 128 4 0 54 1.34 2.72 103 1.02 -24% sell
SLM SLM 5637 394 1418 284 431 10.84 31.90 194 3.04 -72% str.sell
SMRT Stein Mart 70 0 15 47 1.29 3.11 141 4.96 +284% str.buy
SNFCA Security National Financi 128 3 14 0 15 5.45 13.32 144 42.77 +685% str.buy
SNMP Sanchez Midstream Partner 360 19 44 15 10.75 46.23 330 6.16 -43% sell
SNOA Sonoma Pharmaceuticals 21 9 0 4 5.36 15.57 190 1.24 -77% str.sell
SORL SORL Auto Parts 139 19 0 19 4.04 12.61 212 16.26 +302% str.buy
SSI Stage Stores 380 -38 17 27 1.90 10.00 426 49.62 +2,512% str.buy
SSW Seaspan 1747 75 -139 203 118 7.16 16.91 136 3.55 -50% str.sell
STLY Stanley Furniture 20 -5 21 15 1.20 6.75 462 0.34 -72% str.sell
SVU Supervalu 376 710 650 0 38 20.74 76.70 270 76.67 +270% str.buy
SXCP SunCoke Energy Partners 739 74 119 120 47 16.85 39.77 136 3.56 -79% str.sell
SYNT Syntel -183 1 -57 1262 85 18.49 68.95 273 3.83 -79% str.sell
TA TravelCenters of America 552 51 -2 0 40 4.10 12.32 200 18.73 +357% str.buy
TNK Teekay Tankers 933 8 63 47 164 1.64 9.02 450 5.03 +207% str.buy
TNP Tsakos Energy Navigation 1405 56 40 86 4.45 21.93 393 4.09 -8% hold
TOO Teekay Offshore Partners 1356 129 33 79 155 2.64 11.57 338 1.99 -25% sell
TOPS TOP Ships 47 1 0 5 0.38 10.64 2701 92.54 +24,253% str.buy
TWMC Trans World Entertainment 198 39 3 0 36 2.10 4.82 129 1.29 -38% sell
VC Visteon 586 45 75 1736 31 122.04 310.90 155 24.69 -80% str.sell
VSI Vitamin Shoppe 440 211 25 0 24 5.25 14.61 178 37.47 +614% str.buy
VST Vistra Energy 6597 1907 22688 0 430 18.22 274.81 1408 2.73 -85% str.sell
WBT Welbilt -44 845 80 1362 139 22.77 45.56 100 1.93 -92% str.sell
XIN Xinyuan Real Estate ADR 900 73 21 66 6.17 20.65 235 30.44 +393% str.buy
ZX China Zenix Auto Internat 367 -4 0 45 1.40 7.71 451 2.04 +46% buy

The complete list of 150 stocks matching your screening parameters:

ABAC, ABR, ACRE, ACY, AEG, AEY, AFI, AFSI, AGO, AHL, ALN, ALT, ANW, APWC, ASFI, ATW, AVH, AVHI, AWX, AXS, BBOX, BCOM, BCRH, BGFV, BNSO, BORN, BRG, BRT, BSPM, CAAS, CALI, CATO, CBL, CGA, CGI, CIM, CLD, CLWT, CMO, CMRE, CNTF, CPLP, CPSS, CUO, CXDC, DCP, DDE, DLNG, DRAD, DS, DSWL, DX, ELP, EQR, ESV, EVK, EXXI, FOSL, FTFT, GAIA, GASS, GCO, GLBR, GNRT, GNW, GURE, HCHC, HESM, HGSH, HIBB, HMY, HOS, HT, IESC, IFMI, IHC, IRDM, IVR, JASO, JKS, JONE, KBSF, KEP, KGJI, KOSS, KT, LIVE, LPG, LXU, MHLD, MITT, MMAC, MN, NAP, NAT, NAVI, NFEC, NNA, NRP, NSEC, NTL, NYMT, OAKS, ONP, OSN, PACD, PDLI, PFIN, PHII, PHIIK, PMT, QCP, RAS, RCM, RDC, RFP, RIG, RSO, RTK, SCKT, SDLP, SDR, SDRL, SDT, SGOC, SKYS, SLM, SMRT, SNFCA, SNMP, SNOA, SORL, SSI, SSW, STLY, SVU, SXCP, SYNT, TA, TNK, TNP, TOO, TOPS, TWMC, VC, VSI, VST, WBT, XIN, 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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