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Magic Formula
Email meJoel Greenblatt's ranking: good businesses at cheap prices. Each company is ranked on earnings yield and on return on capital, and the two ranks are added.
- Earnings yield: operating income over enterprise value
- Return on capital: operating income over total assets less current liabilities (return on capital employed, as the filings give no split of fixed assets)
- Banks, insurers and utilities left out, as Greenblatt did
- Market value of at least $1 billion; operating income positive
558 companies pass
The first 100 shown.
| Company | Market value | Rank | Earnings yield |
|---|---|---|---|
| Bath & Body Works IncBBWIRetail-Retail Stores, NEC | $3.5B$17.34 | 41 | 19.1% |
| Adobe IncADBEServices-Prepackaged Software | $94.7B$242.27 | 64 | 10.1% |
| CarGurus IncCARGServices-Computer Processing & Data Preparation | $2.6B$28.85 | 70 | 9.8% |
| International Seaways IncINSWWater Transportation | $5.9B$119.82 | 80 | 12.6% |
| Herbalife LtdHLFWholesale-Drugs, Proprietaries & Druggists' Sundries | $1.4B$13.03 | 80 | 16.4% |
| Gulfport Energy CorpGPORCrude Petroleum & Natural Gas | $2.9B$162.66 | 86 | 18.2% |
| Match Group IncMTCHServices-Computer Programming, Data Processing, Etc. | $9.4B$41.09 | 91 | 11.1% |
| Micron Technology IncMUSemiconductors & Related Devices | $1.2T$1,029.00 | 92 | 8.8% |
| CF Industries Holdings IncCFAgricultural Chemicals | $16.9B$111.54 | 109 | 18.1% |
| Crocs IncCROXRubber & Plastics Footwear | $5.5B$114.98 | 111 | 12.6% |
| HP IncHPQComputer & office Equipment | $27.3B$30.20 | 112 | 10.0% |
| Booking Holdings IncBKNGTransportation Services | $120.5B$160.34 | 132 | 7.5% |
| Stride IncLRNServices-Educational Services | $3.6B$85.59 | 135 | 14.0% |
| APA Corp (US)APACrude Petroleum & Natural Gas | $16.1B$45.88 | 140 | 15.9% |
| Gartner IncITServices-Management Services | $12.1B$191.15 | 143 | 8.2% |
| Altria Group IncMOCigarettes | $119.7B$71.68 | 145 | 7.7% |
| Autoliv IncALVMotor Vehicle Parts & Accessories | $8B$109.76 | 147 | 10.9% |
| Cognizant Technology Solutions CorpCTSHServices-Computer Programming Services | $28.1B$59.20 | 149 | 12.5% |
| PBF Energy IncPBFPetroleum Refining | $10.2B$84.27 | 149 | 18.0% |
| Expedia Group IncEXPETransportation Services | $31.4B$274.22 | 150 | 8.3% |
| Tapestry IncTPRLeather & Leather Products | $23.3B$116.24 | 152 | 7.7% |
| Masco CorpMASHeating Equip, Except Elec & Warm Air; & Plumbing Fixtures | $13.9B$68.75 | 154 | 7.8% |
| Otis Worldwide CorpOTISElectronic & Other Electrical Equipment (No Computer Equip) | $25.1B$65.95 | 155 | 7.0% |
| Kennametal IncKMTMachine Tools, Metal Cutting Types | $2.4B$31.92 | 157 | 15.6% |
| Lennox International IncLIIAir-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip | $12.4B$356.44 | 157 | 7.8% |
| Gap IncGAPRetail-Family Clothing Stores | $8.2B$23.23 | 170 | 22.3% |
| Power Solutions International IncPSIXEngines & Turbines | $1.2B$50.07 | 173 | 8.1% |
| Tenet Healthcare CorpTHCServices-General Medical & Surgical Hospitals, NEC | $21.2B$263.78 | 175 | 14.0% |
| Solventum CorpSOLVSurgical & Medical Instruments & Apparatus | $14.8B$87.29 | 177 | 10.6% |
| Marathon Petroleum CorpMPCPetroleum Refining | $127.8B$455.03 | 181 | 9.2% |
| GoDaddy IncGDDYServices-Computer Integrated Systems Design | $13.2B$104.35 | 182 | 8.0% |
| Accenture PLCACNServices-Business Services, NEC | $128.7B$209.06 | 183 | 8.6% |
| Lowe's Companies IncLOWRetail-Lumber & Other Building Materials Dealers | $104.3B$186.00 | 185 | 7.4% |
| Magnolia Oil & Gas CorpMGYCrude Petroleum & Natural Gas | $5.7B$24.10 | 186 | 9.7% |
| A O Smith CorpAOSHousehold Appliances | $7.8B$56.38 | 186 | 8.1% |
| PayPal Holdings IncPYPLServices-Business Services, NEC | $49.5B$55.53 | 189 | 11.6% |
| Laureate Education IncLAURServices-Educational Services | $5.4B$39.47 | 189 | 8.1% |
| Domino's Pizza IncDPZWholesale-Groceries & Related Products | $10.3B$309.36 | 190 | 6.4% |
| Dollar Tree IncDLTRRetail-Variety Stores | $22.3B$118.64 | 191 | 9.1% |
| Brinker International IncEATRetail-Eating Places | $8.2B$193.87 | 191 | 7.3% |
| Vontier CorpVNTTotalizing Fluid Meters & Counting Devices | $4.4B$32.24 | 191 | 10.1% |
| Blue Bird CorpBLBDTruck & Bus Bodies | $1.8B$56.29 | 194 | 9.5% |
| Fair Isaac CorpFICOServices-Business Services, NEC | $14.4B$667.58 | 199 | 6.3% |
| EOG Resources IncEOGCrude Petroleum & Natural Gas | $77.7B$148.16 | 201 | 11.0% |
| Universal Health Services IncUHSServices-General Medical & Surgical Hospitals, NEC | $10.6B$177.35 | 203 | 13.4% |
| HF Sinclair CorpDINOPipe Lines (No Natural Gas) | $21.6B$121.30 | 206 | 11.7% |
| Pool CorpPOOLWholesale-Misc Durable Goods | $5.8B$159.54 | 206 | 8.4% |
| Maximus IncMMSServices-Business Services, NEC | $3.1B$59.39 | 214 | 12.3% |
| Yeti Holdings IncYETISporting & Athletic Goods, NEC | $3B$39.79 | 219 | 7.4% |
| Expand Energy CorpEXECrude Petroleum & Natural Gas | $20.4B$88.22 | 222 | 15.6% |
| Autozone IncAZORetail-Auto & Home Supply Stores | $48.7B$2,939.85 | 223 | 6.3% |
| Valero Energy CorpVLOPetroleum Refining | $124.9B$433.75 | 226 | 7.8% |
| Sandisk CorpSNDKComputer Storage Devices | $217.2B$1,487.33 | 228 | 5.8% |
| Leidos Holdings IncLDOSServices-Computer Integrated Systems Design | $15.3B$121.68 | 233 | 9.9% |
| First Solar IncFSLRSemiconductors & Related Devices | $19.1B$177.82 | 234 | 10.4% |
| Gen Digital IncGENServices-Prepackaged Software | $13.9B$23.25 | 234 | 9.8% |
| Carter's IncCRIApparel & Other Finishd Prods of Fabrics & Similar Matl | $1.2B$32.36 | 237 | 25.6% |
| Booz Allen Hamilton Holding CorpBAHServices-Management Consulting Services | $8.9B$73.94 | 238 | 8.6% |
| TechnipFMC PLCFTIOil & Gas Field Machinery & Equipment | $27.3B$69.57 | 238 | 6.2% |
| Epam Systems IncEPAMServices-Computer Programming Services | $5.8B$113.24 | 241 | 11.1% |
| Las Vegas Sands CorpLVSHotels & Motels | $23.4B$36.17 | 241 | 8.3% |
| Best Buy Co IncBBYRetail-Radio, Tv & Consumer Electronics Stores | $18.3B$87.01 | 244 | 8.1% |
| Scotts Miracle-Gro CoSMGAgricultural Chemicals | $2.9B$49.86 | 245 | 8.0% |
| Crown Holdings IncCCKMetal Cans | $11.8B$108.26 | 246 | 9.5% |
| Corpay IncCPAYServices-Business Services, NEC | $26.1B$397.92 | 248 | 8.0% |
| Lockheed Martin CorpLMTGuided Missiles & Space Vehicles & Parts | $117.6B$509.59 | 250 | 6.8% |
| Paychex IncPAYXServices-Engineering, Accounting, Research, Management | $37B$103.98 | 251 | 6.3% |
| Paycom Software IncPAYCServices-Prepackaged Software | $10.3B$232.22 | 252 | 5.9% |
| Home Depot IncHDRetail-Lumber & Other Building Materials Dealers | $290.2B$290.74 | 253 | 6.2% |
| American Eagle Outfitters IncAEORetail-Family Clothing Stores | $3B$18.17 | 254 | 15.2% |
| Intuit IncINTUServices-Prepackaged Software | $81.3B$302.75 | 259 | 7.0% |
| McKesson CorpMCKWholesale-Drugs, Proprietaries & Druggists' Sundries | $109.5B$938.84 | 263 | 5.7% |
| Enerpac Tool Group CorpEPACMisc Industrial & Commercial Machinery & Equipment | $1.8B$34.93 | 265 | 7.3% |
| DaVita IncDVAServices-Misc Health & Allied Services, NEC | $11.5B$179.25 | 266 | 9.9% |
| Ingredion IncINGRGrain Mill Products | $6B$95.09 | 269 | 12.6% |
| Honeywell International IncHONAircraft Engines & Engine Parts | $65.8B$207.73 | 272 | 9.2% |
| Yum! Brands IncYUMRetail-Eating Places | $39.5B$144.82 | 273 | 5.3% |
| Kontoor Brands IncKTBMen's & Boys' Furnishgs, Work Clothg, & Allied Garments | $3.6B$65.62 | 278 | 7.8% |
| ETSY IncETSYServices-Business Services, NEC | $7.1B$76.71 | 280 | 5.4% |
| Cimpress PLCCMPRCommercial Printing | $1.8B$74.21 | 280 | 8.0% |
| Factset Research Systems IncFDSServices-Computer Programming, Data Processing, Etc. | $10.3B$287.18 | 280 | 6.3% |
| Simpson Manufacturing Co IncSSDCutlery, Handtools & General Hardware | $7B$171.12 | 280 | 7.6% |
| Armstrong World Industries IncAWIPlastics Products, NEC | $6.9B$161.87 | 282 | 6.0% |
| Jack Henry & Associates IncJKHYServices-Computer Integrated Systems Design | $10.5B$149.31 | 285 | 6.0% |
| Snap-On IncSNACutlery, Handtools & General Hardware | $18.6B$360.37 | 287 | 7.5% |
| Halliburton CoHALOil & Gas Field Services, NEC | $27.1B$32.55 | 288 | 10.2% |
| CDW CorpCDWRetail-Catalog & Mail-Order Houses | $17.8B$142.17 | 291 | 7.2% |
| McDonald's CorpMCDRetail-Eating Places | $166.5B$235.23 | 291 | 6.2% |
| Sonoco Products CoSONPaperboard Containers & Boxes | $4.7B$47.92 | 292 | 11.1% |
| Resmed IncRMDSurgical & Medical Instruments & Apparatus | $33.2B$230.05 | 293 | 5.9% |
| Tetra Tech IncTTEKServices-Engineering Services | $8.5B$33.34 | 293 | 6.7% |
| Versant Media Group IncVSNTTelevision Broadcasting Stations | $4.3B$30.64 | 294 | 21.9% |
| United Parks & Resorts IncPRKSServices-Miscellaneous Amusement & Recreation | $1.5B$32.67 | 294 | 8.5% |
| Illinois Tool Works IncITWGeneral Industrial Machinery & Equipment | $75.2B$264.13 | 294 | 5.2% |
| Pilgrims Pride CorpPPCPoultry Slaughtering and Processing | $6.8B$28.65 | 295 | 9.9% |
| Installed Building Products IncIBPGeneral Bldg Contractors - Residential Bldgs | $4.9B$185.44 | 304 | 6.6% |
| Dorman Products IncDORMMotor Vehicle Parts & Accessories | $3.6B$120.40 | 305 | 8.0% |
| Carlisle Companies IncCSLFabricated Rubber Products, NEC | $12.8B$320.36 | 308 | 6.8% |
| Oshkosh CorpOSKMotor Vehicles & Passenger Car Bodies | $7.8B$125.23 | 309 | 9.7% |
| FTI Consulting IncFCNServices-Management Consulting Services | $3.8B$136.16 | 310 | 8.4% |
Earnings, sales and cash flow are the last four reported quarters where all four are on file, or the latest fiscal year; prices are the latest stored close, Oct 9, 2026. Figures come from each company's own filings. A screen is a place to start reading, not a recommendation.