No. of Recommendations: 2
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).Thanks for that info.
Not backtested but looking at Fidelity Screener the change has some significance.
The obvious is sectors are more distributed with less IT.
ROE_GMI (FH,Q) AS OF 09:13 AM ET 12/07/2023
Criteria: (Name) Criteria: (range) Count (%)
Security Type Common Stock 7992
Security Price No Filter
Company Headquarters Location United States of America 5802
Market Capitalization Mega, Large, Medium & Small 1365 100%
Current Ratio (MRQ) Very high, high & Medium 643 47%
Quick Ratio (MRQ) Very high, high & Medium 548 40%
S&P GMI Financial Health Very high, high 159 12%
S&P GMI Quality Very high, high 125 9%
Return on Equity (TTM) Very high, high & Medium 80 6%
Sector Exc. Financial & REIT 72 5%
Industry Industry 72 5%
Sub-Industry Sub-Industry 72 5%
Current SoR Profile CountIF() %
Sector -- --
Industrials 17 24%
Health Care 17 24%
Materials 12 17%
Information Technology 11 15%
Consumer Discretionary 4 6%
Energy 4 6%
Communication Services 3 4%
Consumer Staples 3 4%
Utilities 1 1%
Financials 0 0%
REIT 0 0%
Market Capitalization -- --
Mega 4 6%
Large 11 15%
Medium 24 33%
Small 33 46%
-- --
Total Count 72 100%
