Magic Formula Stocks in Asia: Cheap and High Return

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	Below Intrinsic Value Graham Number Lynch Fair Value Piotroski F-Score Magic Formula Low EV/EBITDA Cash Rich Financially Strong Low Shiller P/E Analyst Upside
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Joel Greenblatt's Magic Formula buys good companies at bargain prices: a high return on capital shows a good business and a high earnings yield shows a cheap price. This is an approximation of his ranking method. This screen lists stocks on Asian exchanges with an enterprise value below 10 times EBIT (an earnings yield above 10%) and a return on invested capital above 20%, cheapest first. Prices are in each exchange's local currency, and the list covers stocks traded in Tokyo, Hong Kong, Singapore, Seoul and Jakarta with at least about US$0.7 million in average daily trading value.

Screening formula:
exch(tse,hkse,ses,krx,ise) and (type(stock) and ((exch(tse) and advol(21) > 100) or (exch(hkse) and advol(21) > 5) or (exch(ses) and advol(21) > 1) or (exch(krx) and advol(21) > 1000) or (exch(ise) and advol(21) > 10000))) and enterprise_ebit > 0 and enterprise_ebit < 10 and roic > 20 and sortby(enterprise_ebit, asc) and show(enterprise_ebit as ev_ebit, roic as roic)