Advanced formulas with MSN Deluxe Stock Screener



MSN Deluxe stock screener is probably the best free screening tool on the internet. This article shows a step by step guide to build your own advanced formulas.

For this purpose, we will build the Improved Return On Invested Capital formula derived in Improved Magic Formula Investing with MSN Deluxe Screener.







The Improved Return On Invested Capital (called MSN ROIC here) formula is:

Return On Invested Capital * PreTax Margin
MSN ROIC = ---------------------------------------------
[Net Margin * ( 1 - 1 / Interest Coverage )]


As you can see, this is a fairly complex formula. And yet, MSN Screener allows to program it and filter stocks with it.

Let's build it:

  1. Go to MSN Deluxe Screener

    The screener must be installed. If not, first install by clicking below the message "Try it Now !" and follow the instructions (requires Internet Explorer).


  2. Once in the Deluxe Screener interface, click on “Click here to add criteria”.

    stock screener fields


  3. From the “field list”, select “Return On Invested Capital” which is the 1st parameter of our formula:

    Return On Invested Capital

    You should see the following:

    Return On Invested Capital 2


  4. Position your mouse at the end of "Return On Invested Capital" and click.
    You should see this now:

    Return On Invested Capital 3


  5. Type “*”, then select the next parameter of the formula which is “PreTaxMargin”.

    Pre Tax Margin


  6. Type “/(”, then select the next parameter of the formula which is “Net Profit Margin”.

    Net Profit Margin


    You will probably get an "Error" message. Just click "OK".


    MSN Screener Formula Error message


    You should now have the following formula:

    Net Profit Margin 2


  7. Repeat step 6 with the remaining parameters of the formula and the operators of interest: +, -, /, *, parenthesis.


    You may face the "Error" message a few times. Don't bother, just click "OK". MSN shows this message merely because the formula is not yet completed (e.g. an expected closing parenthesis has not yet been entered).

    Here is the formula completed:

    Stock Screener Formula Completed


    Notice the double parentheses at the end. You should not get anymore "Error" message after entering those parentheses (Of course, if you build a different formula, you may not need any parenthesis).
  1. You can then complete the "Operator" and "Value" fields.
    Here is what I get after running the screen.

    MSN Screener Improved Return On Invested Capital Formula

    You can see that MSN computes and ranks the stocks based on the complex formula entered.

Tips when building Advanced Formulas with MSN Stock Screener

A/ Before selecting a new parameter in the field list, check the position of the blinking cursor (mouse). The next parameter you select will simply appear at that position

Below the cursor is at the end (see red circle):

MSN Stock Screener Advanced Formula Tips

B/ You can position the cursor anywhere. This is useful to correct a mistake.

C/ If you make a mistake (for instance you selected the wrong parameter or entered the wrong operator), don't worry ! Just delete the erroneous part by positioning the cursor just behind the portion to be deleted and press the "backspace" button of your keyboard.

D/ Although you can build long formulas, there is a limit. If that happens, MSN will show you the message "Formula too Complex". You can either simplify your formula (this is what I did in the PE/ROIC formula in the final screen on the Improved Magic Formula Investing page) or try to use 2 or more screening criterion.



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