Stock Screeners
- CANSLIM -

Several screeners can completely implement the CANSLIM screening requirements. In addition, several free screeners can come close enough to work. Remember: this is not a mechanical investing strategy, so screeners were considered adequate because the number of results to be checked manually were minimal.

Target requirements are included for reference at the bottom of the page.

Stock Screeners that work

The following fee-based screeners are capable of meeting the screening requirements stated below. Note that Portfolio123 is free with registration if you do not mind saving the criteria elsewhere.

• AAII Stock Investor Pro - AAII already has implemented 2 versions of CANSLIM and the requirements noted (different from their pre-defined screens) can be met. Trading liquidity of passing companies is an issue. Back-testing is clumsy.
• Portfolio123 – Registered users have access to the forums where CANSLIM is discussed. Paying a fee will get you the Portfolio123 implementation and the ability to back-test with valid data.
• StockScreen123 – Users of the fee-based system can use the O'Neill guru pre-defined screen. Although it does not match the criteria listed here, their interpretation is in the spirit of the strategy. Backtesting is possible although trading liquidity of the passing companies is an issue.
• Zacks Research Wizard – Users can implement these requirements. Back-testing data is available at extra cost but note that earlier data suffers from survivorship bias.

Screeners that work to some degree

The following online stock screeners failed to implement all of the requirements but were able to return a manageable list of results. Note that FinViz is free with registration:

• FinViz – Does not provide shares outstanding, number of institutional owners, relative strength or robust EPS data.  It was able to reduce the list of candidates to a manageable amount for further study. ROE is available as an alternative.  If this is your primary screening tool, you can get by.
• Morningstar Premium – Does not provide price as a percentage of 52 week high but everything else is there.  Relative strength against the S&P 500 is not a rank.  It would be simpler to run the screen without this since the value might change over time. Morningstar does provide a rating of the funds holding the stock.
• SmartMoney – Weak EPS growth choices and no relative strength.  However it did reduce the number of candidates to a manageable number. SmartMoney does provide net payout ratio so it is possible to tell if company is buying back shares.
• Zacks Free Stock Screener - Weak EPS growth choices and no relative strength. Substitute percent of hi-lo range for % of high. It produced a manageable number of results but the screen criteria cannot be saved in the free screener. Not recommended.

Screeners that fail to implement CANSLIM

The following are all free stock screeners but are not worth the effort for this strategy:

• AOL Money & Finance Stock Screener – Not close enough to bother.
• Google – Not enough criteria to reduce the number of results sufficiently and screen criteria cannot be saved.
• Morningstar (free) screener – No.
• VectorVest – Only shares outstanding is available.
• Yahoo - Not close enough to bother.

Return to CANSLIM strategy discussion

Target screening requirements

Based on the published implementations and the requirements set forth in several books and articles, the following are the primary CANSLIM criteria: