Subject: Re: Concerns with ROE
One solution is to avoid screening for extremely high ROE. Instead look for above average ROE, and include a check on debt levels (increased debt will decrease equity).

After running a screen in gtr1, the field descriptions can be seen in the Command Translation.
equityq1.s is [SI Equity (Common) Q1]
ceqq1.c is [CPiT Com/Ord Equity - Total Q1]

ROA or ROIC could be used in place of ROE, but ROE backtests better in many screens. Possible measures for marginal expansion costs:

Equity = Assets - Liabilities
Assets
Invested Capital = Equity + Debt - Cash

ROA: pref(ratio(netinc12mq1d.s,assetsq1.s),ratio(ni12mq1d.c,atq1.c))

Cash: pref(plus(max(0,cashq1.s),max(0,stinvq1.s)),max(0,cheq1.c))
Debt: pref(plus(max(0,ltdebtq1.s),max(0,stdebtq1.s)),plus(max(0,dlttq1.c),max(0,dlcq1.c)))
Equity: pref(equityq1.s,ceqq1.c)
IC: linear(1,Equity,1,Debt,-1,Cash)
R: pref(gopinc12m.s,oeps12q1.c)
ROIC: if(IC>0,ratio(R,IC),R)