QUANTITATIVE STRATEGY DOSSIERJoel Greenblatt (Gotham Capital)

Joel Greenblatt Magic Formula

Greenblatt's Magic Formula ranks equities by two mathematically rigorous factors: high capital efficiency (ROIC > 20%) and high enterprise earnings yield (EBIT/EV), identifying outstanding businesses selling at bargain valuations.

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📐 Quantitative Screening Rules & Mathematical Bounds

  • Top-Decile Return on Capital: ROIC >= 25% indicating wide economic moat.
  • High Earnings Yield: EBIT / Enterprise Value >= 8.5%.
  • Piotroski F-Score >= 8: Pristine accounting quality with zero debt dilution risk.
  • Minimum Liquidity Tier: Market Cap >= $1B with robust institutional float.

🎯 Current Matching Candidates

Updated Daily Pre-Market
CPRXCatalyst Pharmaceuticals$21.40 (+1.9%)
🟢 IN_BUY_ZONEPiotroski: 9/9
Optimal Entry: $20.80 - $21.40
Target 1 (+2.5x ATR): $23.80
Stop Loss Floor: $19.85
Capital Efficiency: ROIC 42.8%

Execution Setup: Orphan disease franchise with 88%+ gross margins and pristine 9/9 Piotroski balance sheet.

LNTHLantheus Holdings$100.78 (-4.09%)
🟢 IN_BUY_ZONEPiotroski: 9/9
Optimal Entry: $97.50 - $100.78
Target 1 (+2.5x ATR): $112.40
Stop Loss Floor: $93.20
Capital Efficiency: ROIC 38.5%

Execution Setup: Radiopharmaceutical diagnostic monopoly trading at deep valuation discount.

MEDPMedpace Holdings$395.10 (+1.45%)
🟢 IN_BUY_ZONEPiotroski: 9/9
Optimal Entry: $384.00 - $395.10
Target 1 (+2.5x ATR): $432.00
Stop Loss Floor: $368.50
Capital Efficiency: ROIC 34.2%

Execution Setup: Full-service clinical CRO compounder with zero long-term debt.

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