Magic Formula Stock Screen — Spain
Joel Greenblatt's Magic Formula ranks companies on two things at once: how much they earn on the capital they use, and how cheap they are on their earnings. This screen is a simplified version: a return on equity of at least 20% combined with a P/E of 15 or less, among profitable companies.
The rules of this screen
A stock listed in Spain appears below only if it passes every rule:
- P/E (trailing 12 months) of 15 or less
- Return on equity (ROE) of at least 20%
- Net profit margin of at least 5%
Data comes from company filings and market prices, refreshed after every trading day. Stocks with a missing value for any rule are left out.
Magic Formula Stock Screen — Spain: top stocks by market cap
18 Spanish stocks match this screen. All 18 by market cap, data as of 13 Nov 2026.
| # | Company | Ticker | Sector | Mkt Cap | P/E | Div Yield | 1Y |
|---|---|---|---|---|---|---|---|
| 1 | Petróleo Brasileiro S.A. - Petrobras | XPBRBME | Energy | €106.7B | 4.6 | 7.35% | +150.6% |
| 2 | Petróleo Brasileiro S.A. - Petrobras | XPBRABME | Energy | €103.9B | 4.1 | 8.20% | +148.8% |
| 3 | Aena S.M.E., S.A. | AENABME | Industrials | €43.4B | 14.4 | 3.79% | +31.0% |
| 4 | Grupo Financiero Banorte, S.A.B. de C.V. | XNORBME | Financial Services | €30.9B | 10.4 | 7.99% | -52337.3% |
| 5 | Naturgy Energy Group, S.A. | NTGYBME | Utilities | €28.7B | 14.3 | 7.73% | +16.8% |
| 6 | International Consolidated Airlines Group S.A. | IAGBME | Industrials | €23.5B | 8.3 | 1.81% | +25.0% |
| 7 | CIE Automotive, S.A. | CIEBME | Consumer Cyclical | €3.2B | 9.4 | 3.53% | -6.0% |
| 8 | Grenergy Renovables, S.A. | GREBME | Industrials | €1.9B | 15.0 | 0.00% | -11.4% |
| 9 | Línea Directa Aseguradora, S.A., Compañía de Seguros y Reaseguros | LDABME | Financial Services | €1.4B | 14.2 | 5.20% | +16.2% |
| 10 | Volcan Compañía Minera S.A.A. | XVOLBBME | Basic Materials | €771.5M | 3.3 | 0.00% | +25.0% |
| 11 | eDreams ODIGEO S.A. | EDRBME | Consumer Cyclical | €493.8M | 14.6 | 0.00% | -31.0% |
| 12 | Naturhouse Health, S.A. | NTHBME | Consumer Defensive | €129.6M | 14.4 | 9.17% | +13.6% |
| 13 | Axon Partners Group, S.A. | APGBME | Industrials | €87.0M | 13.7 | 0.00% | +11.3% |
| 14 | Llorente & Cuenca, S.A. | LLYCBME | Industrials | €37.2M | 10.7 | 0.00% | -60.0% |
| 15 | Catenon, S.A. | COMBME | Industrials | €17.5M | 7.6 | 0.00% | -6.6% |
| 16 | Robot, S.A. | RBTBME | Industrials | €17.2M | 10.0 | 0.00% | +113.8% |
| 17 | Profithol, S.A. | SPHBME | Technology | €9.8M | 0.4 | 0.00% | +46.6% |
| 18 | Asturiana de Laminados, S.A. | ELZBME | Industrials | €7.4M | 0.4 | 0.00% | -51.7% |
The same rules on every market the screener covers: the US, Canada, Europe, Australia and more. Free, no account needed.
Run this screen on all 18,000+ stocksHow to use this screen
Greenblatt's original uses return on tangible capital and earnings yield (EBIT / enterprise value) and excludes banks and utilities; ROE and P/E are proxies. He also recommends holding a basket of 20 to 30 names for a year, because single picks often disappoint.
This page lists the stocks that pass a set of rules. It is not a recommendation to buy or sell any of them, and past results of a strategy say nothing certain about future returns.