In addition to their free stock screener, Morningstar offers a more robust screener as part of their Premium membership package. If, like many investors, you screen for mutual funds as well as stocks, the package may be the best overall value for you.
And if you rely on their full set of proprietary Morningstar ratings, there is no other game in town.
In addition to offering many of the usual fundamental data points, they offer all the data points in the Morningstar rating system. One data point sure to please Warren Buffet aficionados is the availability of a proprietary economic moat measure
If your investing strategies call for technical analysis, you will need to make that analysis elsewhere – stock technical analysis is not available.
Custom screens can be saved by name for later recall / use and can be created by modifying the Morningstar pre-defined screens. A brief explanation of the screen rationale is available for each of their pre-defined stock screens.
The date of the fundamental data is not available directly as a data point. Once the passing companies are available, however, clicking on the ticker of any company in the results list takes you to financial information for the company. Dates are available there.
It is possible to compare valuation and growth data to sector and benchmark values or absolute values. The year over year historical data is extensive (5 years of financial statement data) and trailing twelve month data is available. Quarter over quarter is not available.
Running the screen creates a list of companies passing the screen. Company data points listed in the results can be selected independent of the screening criteria. You can also go directly to Morningstar’s financial data for any of the companies. Multiple reports can be created and saved if more than one data view is desired.
Passing companies can be saved in the portfolio manager where they can be tracked or downloaded for offline analysis. It is possible to de-select a company if you do not wish to move it to the portfolio manager.
Neither the criteria operators nor the data points allow for limiting the number of results by percentile or ranking. This is a curious omission since Morningstar provides another tool, QuickRank, where ranking is featured.
If ranking or limiting results is important to you, the workaround is to sort the list by one or more of the fields in the resulting report and de-select the unwanted companies.
Morningstar is best known for their fund style boxes, fund research, the Morningstar 5 star mutual fund ratings. Now they offer proprietary stock ratings and an economic moat measure as screening criteria. This sets their stock screener apart from most other free screeners.
Both “OR” logic and “AND” logic are provided.
Unfortunately, neither custom formulas nor backtesting are available. A “test” of your screen results is offered as a function of the portfolio manager. While better than nothing, it is not backtesting.
It is not possible to screen against a custom basket of stocks created externally or residing in a portfolio. If you need a custom list, you need to create it within the screen.
Your personal investing strategies identify the data and logic needs of the best screener for you.
The following investing strategies have been implemented as sample stock screens to illustrate using the Morningstar Premium screener:
This is a quality product focused on the Morningstar stock ratings and stock screens that look back into the historical performance of a company. For many, the Premium package will be the best stock screener available – particularly if you invest in both stocks and mutual funds.
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