Source: Reproduces Joel Greenblatt, The Little Book That Still Beats the Market (2005)
Names ranking near the top of Greenblatt's magic formula (the two-axis rank of high ROIC and high earnings yield), with an Altman Z-Score of 3.0+ and no losses in the last 5 years layered on. The original book prescribes mechanically holding the top ~30 names for a year and rebalancing; in the Japanese market the top of that rank tends to collect structurally declining industries and one-off profits, so a solvency cutoff is added here.
Free, no login. The button opens the screener with the above conditions applied.
Data comes from annual securities reports disclosed on EDINET (Japan FSA), via EDINET DB. Price-related values are as of each company's fiscal year-end (back-calculated from the disclosed trailing PER), not live quotes. Coverage: all TSE-listed companies, with names added progressively.
Mechanizes "buy good companies (high ROIC) cheaply (high earnings yield)" as the average percentile rank across both axes. A score of 0.8+ means top-tier on both. The original book recommends holding the top ~30 names for a year and rebalancing. (Source: Joel Greenblatt, The Little Book That Still Beats the Market (2005))
A bankruptcy prediction model (the original 1968 formula) that weights and combines working capital, retained earnings, operating income, market cap, and revenue. 3.0+ is the "safe" zone, below 1.8 is the "distress" zone. Used here to mechanically filter out the "cheap but dying" companies that net-cash-style screening tends to surface. (Source: Altman (1968))
Number of the last 5 fiscal years (0-5) in which net income was negative. 3+ flags chronic losses. A quick check that a seemingly-cheap stock isn't a habitual underperformer, and also a building block of the Graham-style defensive investor criteria (no losses in the last 5 years). (Source: This tool's core design)
Drops ROIC (the quality axis) from the magic formula and ranks by earnings yield (EBIT/EV) alone — a contrarian value approach based on the idea that good companies don't necessarily stay good (mean reversion), so quality is deliberately ignored. A U.S. backtest spanning 1973-2017 reported this beating both the magic formula and the S&P 500. This column is the percentile rank of earnings yield among all stocks (0-1, closer to 1 means higher earnings yield); the top decile (0.9+) is the rough guide. (Source: Tobias Carlisle, The Acquirer's Multiple (2017))