Duplicate

Negative Enterprise Value Screen 177 Qualifying

Negative Enterprise Value is a deep value bargain strategy inspired by the writings of investment writer, Jae Jun. It looks for companies that are priced so cheaply by the market that their cash balance is worth more than their enterprise value (the sum of the company's market cap and total long term debts). On paper, these stocks present an arbitrage opportunity: you could buy all of the debt and equity using the company's cash to cover the cost and simply pocket the difference. Jae Jun says: "If done correctly, it looks like this strategy is hugely profitable, but it does come with a lot of volatility." Jae Jun's back-testing for the US market exhibited significant outperformance over a 10 year period. A word of warning: company cash balances change all the time, so it's essential to know precisely how much cash a company has got. Likewise, make sure all debts are taken into account when it comes to calculating enterprise value.

To learn more about this strategy please click here »

Negative Enterprise Value

by Jae Jun

Back-tested by Jae Jun on Old School Value for the US market, this strategy exhibited significant outperformance over a 10 year period, albeit with significant volaility.

 

This screen uses the following criteria:

  • EV £m < 0
  • Mkt Cap £m > 15
  • Sector not in F inancials,

Results are sorted by:

  • EV £m in descending order


And limited to the first 200 Results


Can these rules be improved? Submit a suggestion »
Want to make your own version? Create a Duplicate

Performance Tracking


Returns FTSE 100
1 week 1.8% 1.3% -2.9% -1.4% -1.1% 1.3% -0.1% -0.2%
1 month 11.0% 9.0% 11.5% 9.6% 3.3% 4.9% 5.5% 3.5%
3 months 5.8% 10.7% 33.4% 4.6% 16.5% 8.3% 0.8% 0.5%
6 months 0.4% 20.1% 29.8% -3.3% 26.6% 12.0% 16.8% 5.7%
1 year 22.7% 54.3% 28.1% 27.6% 4.5% 12.9% 22.3% 7.1%
2 years 24.9% 67.4% 52.2% - - - - 18.6%
Annualised -3.4% -1.3% 18.5% 24.1% 10.2% 23.2% 40.7%
 
Risks
Max Drawdown -70.6% -58.9% -64.6% -23.8% -45.1% -10.2% -22.7%
Avg Holdings 9.3 17.8 22.1 1.5 5.2 25 8.9
Diversification Moderate Good Good Low Low Good Moderate

 Studies based on equal weighted portfolios of max 25 stocks rebalanced quarterly. Qualifying shares below updated daily. Past performance not indicative of future returns.



Please subscribe to see the companies that qualify for this independent study of the Negative Enterprise Value Screen Strategy.
Plans start from as little as $35 per month. 14 day FREE TRIAL available.

177 Qualifying

Ticker Name Mkt Cap £m EV £m RS 1y Sector Flag
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Consumer Cyclicals Japan
Subscriber Subscriber Technology Japan
Subscriber Subscriber Basic Materials Japan
Subscriber Subscriber Consumer Cyclicals Japan
Subscriber Subscriber Industrials Lithuania
Subscriber Subscriber Technology Taiwan
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Consumer Cyclicals Hong Kong
Subscriber Subscriber Basic Materials Hong Kong
Subscriber Subscriber Technology Korea, Republic of
Subscriber Subscriber Consumer Cyclicals Canada
Subscriber Subscriber Basic Materials Australia
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Technology Japan
Subscriber Subscriber Basic Materials Japan
Subscriber Subscriber Technology Japan
Subscriber Subscriber Healthcare United Kingdom
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Technology United States
Subscriber Subscriber Industrials Singapore
Subscriber Subscriber Consumer Defensives Hong Kong
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Technology Japan
Subscriber Subscriber Consumer Defensives Australia
Subscriber Subscriber Healthcare Australia
Subscriber Subscriber Consumer Defensives United States
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Basic Materials Korea, Republic of
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Technology Japan
Subscriber Subscriber Consumer Cyclicals Korea, Republic of
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Consumer Cyclicals Japan
Subscriber Subscriber Basic Materials Singapore
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Technology Japan
Subscriber Subscriber Technology Japan
Subscriber Subscriber Healthcare Australia
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Technology India
Subscriber Subscriber Healthcare United Kingdom
Subscriber Subscriber Utilities Sweden
Subscriber Subscriber Consumer Defensives Taiwan
Subscriber Subscriber Basic Materials Japan
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Consumer Defensives Hong Kong
Subscriber Subscriber Energy Singapore
Subscriber Subscriber Industrials Hong Kong
Subscriber Subscriber Consumer Defensives Japan
Subscriber Subscriber Consumer Cyclicals Taiwan
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Technology United States
Subscriber Subscriber Technology United Kingdom
Subscriber Subscriber Consumer Defensives Japan
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Basic Materials United Kingdom
Subscriber Subscriber Industrials Korea, Republic of
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Technology United States
Subscriber Subscriber Technology Korea, Republic of
Subscriber Subscriber Consumer Cyclicals Singapore
Subscriber Subscriber Consumer Cyclicals United Kingdom
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Technology Korea, Republic of
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Industrials Korea, Republic of
Subscriber Subscriber Industrials Korea, Republic of
Subscriber Subscriber Technology Singapore
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Consumer Cyclicals United States
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Technology Australia
Subscriber Subscriber Technology Hong Kong
Subscriber Subscriber Consumer Defensives Japan
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Industrials Korea, Republic of
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Energy United Kingdom
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Basic Materials Germany
Subscriber Subscriber Basic Materials Germany
Subscriber Subscriber Basic Materials Singapore
Subscriber Subscriber Technology Japan
Subscriber Subscriber Basic Materials Australia
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Energy Japan
Subscriber Subscriber Basic Materials Canada
Subscriber Subscriber Consumer Cyclicals Japan
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Consumer Cyclicals Japan
Subscriber Subscriber Consumer Cyclicals Taiwan
Subscriber Subscriber Consumer Cyclicals Hong Kong
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Consumer Defensives Japan
Subscriber Subscriber Industrials Korea, Republic of
Subscriber Subscriber Technology United States
Subscriber Subscriber Consumer Defensives United States
Subscriber Subscriber Consumer Cyclicals Hong Kong
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Healthcare Japan
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Consumer Defensives Hong Kong
Subscriber Subscriber Healthcare Japan
Subscriber Subscriber Technology Hong Kong
Subscriber Subscriber Basic Materials Korea, Republic of
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Technology Hong Kong
Subscriber Subscriber Consumer Cyclicals Hong Kong
Subscriber Subscriber Basic Materials Hong Kong
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Consumer Cyclicals Japan
Subscriber Subscriber Consumer Cyclicals Hong Kong
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Healthcare United States
Subscriber Subscriber Consumer Cyclicals Japan
Subscriber Subscriber Technology Japan
Subscriber Subscriber Technology Japan
Subscriber Subscriber Consumer Cyclicals Hong Kong
Subscriber Subscriber Industrials Germany
Subscriber Subscriber Industrials Japan
Subscriber Subscriber Energy United Kingdom
Subscriber Subscriber Technology Japan
Subscriber Subscriber Consumer Cyclicals Hong Kong
Subscriber Subscriber Industrials Japan