The 5 Best Free Stock Screeners to Help You Invest Wisely [2024]

TradingView Stock screener

If you are interested in sifting through the vast gamut of stocks in the stock market to find the most attractive possibilities, then this blog post is for you.

Here, we'll explore a total of 5 free stock screeners as well as their paid versions that can streamline your research process and help you with identifying stocks based on the criteria you have selected. Whether you're a seasoned investor or you are just starting out, these stock screeners can be invaluable in guiding your investment choices. 

We have a list of the 6 best stock screeners, but before we review them, let’s cover our bases!

What is a Stock Screener, and How does it work?

A stock screener is a tool that investors and traders use to filter stocks based on specific criteria. For example, a trader might use a stock screener to find all the stocks that are trading below their 200-day moving average.

You can find a large number of screeners in the market, but most of them work in a similar way. First, you specify the criteria you want to use to filter the stocks. For example, you might want to only see stocks, in the I.T. industry, and trading with a PE ratio above 20.

Then, the stock screener will show you a list of all the stocks that meet your criteria i.e. have a PE ratio above 20. Once you have your required list, you can further research the stocks that interest you, decide to invest in them, or simply add them to a watch list.

There are many different stock screeners available, both free and paid. In this article, you will read about the best free and paid stock screeners that you can use to help you invest wisely.

But how can you select a good stock screener? Ease, accuracy, price? All three?

What You should Look for in a Stock Screener?

When you are looking for a stock screener, there are a few things that you should keep in mind.

The first thing that you should keep in mind is the ease of use. You will have to ensure that the stock screener is easy to use and navigate otherwise you will be stuck, wasting hours, figuring out how to use the tool.

Second, you have to be mindful that the stock screener has all the features you need. For example, if you are only interested in stocks with a return on invested capital above 10% (ROIC), make sure that the stock screener has your preferred criteria.

Third, you must make sure that the results of the stock screener you select are accurate. You can check this by tallying the numbers with the live data from stocks in the stock market.

Fourth, the stock screener should be up to date. You should never compromise on a stock screener that is outdated.

Finally, you want to make sure that the stock screener is available at an affordable price. There are many free stock screeners out there, so you should not have to spend a lot of money for a good one.

In this guide, we have taken care of many of those critical factors and only included the screeners that we believe are best for stock analysis.

With so many stocks to choose from, should you look at financial fundamentals?

What is the criteria You should Employ to Screen Stocks?

When you are screening stocks, there are many different criteria that you can use. However, not all of them will be relevant to your investment strategy.

Here are a few examples of criteria that you might want to use:

– Price to earnings ratio (P/E ratio)

– Earnings per share (EPS)

– Price to book ratio (P/B ratio)

– Debt to equity ratio (D/E ratio)

– Return on invested capital (ROIC)

– Free cash flow (FCF)

You can also use technical indicators such as moving averages, or support and resistance levels. However, these are not as ideal for most investors since they only give you a short-term view of the stock.

You can use your investment style as the criteria to determine which stock screener is the best for you individually. In addition, you can do backtesting to see if your stock picking criteria would have been successful had you implemented it in the past.

Lastly, we recommend checking out this video to show you what are the best ways to screen and find good stock investment opportunities.

Should you diversify, look at past performance, or not make any move?

Tips for Using Your Stock Screener to Get Good Profit

When you are using a stock screener, there are a few tips that you should keep in mind to get the most out of your investment portfolio.

You should never put all your eggs in one basket. Hence, you must diversify your portfolio. This means, you should invest in a variety of stocks or ETFs to reduce your risk.

Second, you should not blindly follow the results of the stock screener only because it meets your criteria. This does not guarantee that it is a good investment. You should always do your own research before investing in any stock. You can check out our recommended process here.

Third, you should always be prepared to sell a stock if it no longer meets your criteria. It is very important to keep reviewing your portfolio and making sure that all the stocks in it are still suitable investments.

Finally, you should always remember that past performance is not indicative of future results. Just because a stock has done well in the past does not mean that it will continue to do well in the future.

These are just a few tips to keep in mind when you are using a stock screener. If you follow these tips, you should be able to get the most out of your investment portfolio.

You can build your own screener! Can you believe it?

How Can You Build Your Own Screener?

If you want to build your own stock screener, there are a few things that you need to keep in mind.

First, you need to decide what criteria you want to use for screening stocks to meet your investment strategy and style.

Second, you need to find a good stock screener software that meets your needs. There are many different stock screener software programs out there, so you need to find one that is easy to use and has all the features that you need.

Third, you need to backtest your stock screener to see if it is effective. This means that you need to test it out on historical data to see if it would have been successful in the past. This step is great to perform a sanity-check of your investment assumptions and learn more about what makes a successful investment. For the most user-friendly and robust backtesting software, check out TrendSpider.

Lastly, you should always remember to diversify your portfolio. This means that you should not put all your eggs in one basket and invest only in stocks that meet your criteria. Instead, you should diversify and invest in a variety of stocks or ETFs to reduce your risk (particularly as an inexperienced beginner).

These are just a few things that you need to keep in mind if you want to build your own stock screener. If you follow these tips, you should be able to create an effective stock screener that will help you find good investment opportunities.

Building Your Own Stock Screener in Excel – Wisesheets

Excel is one of the best tools you can use for stock analysis in terms of its simplicity and flexibility. Most people know how to use this and this allows them to conduct analysis in a short time frame.

Wouldn't it be great if there was a screener that worked on Excel? Such a screener would allow you to customize the data according to your needs and your preferred criteria as well as highlight the best investment opportunities.

From there, you could efficiently conduct further research and calculations all in the same place.

If this piques your interest, then you are in the right place. Our team, at Wisesheets, has developed a screening functionality for Wisesheets that allows users to easily filter lists of companies based on the sector, exchange, key metrics, financial results, and more. It is discussed in detail below.

In order to build your own stock screener, you need to follow the steps below.

Make a list of the stocks by either going to Google and finding a stock list, or go to Wisesheets and get the stocks that meet your specific criteria as shown below.

Wisesheets list of companies in the stock screener

Then, select the criteria you want to get data for e.g. Price, EPS etc.

Wisesheets stock's criteria in the screener

The best way to get this data is to go the the add-in of Wisesheets in Excel and click on 'Screener'. Then narrow down your selection e.g. Market Capitalization (greater than) 1,000,000, Beta (greater than) 0.2 etc. and after that click on 'Get Data'. The output is shown below.

Wisesheets stock screener in Excel

You can then go to cell A1, then select Shift+Ctrl+Right Arrow+Down Arrow. This will select your entire data collection. Then go to 'Sort & Filter'. You can select any filter e.g. select companies with PE values greater than 3.

If you want to visually sort different values of a particular criteria, you can select any one of the criteria again e.g. the PE ratio, and then click on 'Conditional Formatting'. Then select 'Highlight cell rules', and after that opt for 'greater than'. In the field, write your preferred value e.g. 20 and select 'Light Red Fill with Dark Red Text'. This will highlight PE ratios greater than 20 in red. Then go to Conditional Formatting again and select Highlight cell rules, but this time opt for 'less than'. Now, write 20 and select 'Green Fill with Dark Green Text'. This will highlight PE ratios less than 20 in green, as shown below.

Wisesheets Conditional Formatting for PE Ratio

Wisesheets is available for $60 per year with customizable screeners, charting options, filtering abilities etc.

If you want more choice in screeners, then there are many other great options available too!

The Top 5 Stock Screeners to Help You Invest Wisely

Let’s review the best stock screeners available in the market these days!

The top 5 best free stock screeners you can use right now are:

  1. TradingView
  2. Finviz
  3. StockRover
  4. Yahoo Finance
  5. Investing.com

Let's dive deeper into each of these so you know what to expect, what makes them a valuable option, and how you can get the most value from each.

TradingView

Ranging from simple to complex, the TradingView screener can be utilized by any type of investor. Its interface is user-friendly. It is also very customizable. You can filter out stocks by market cap, price range, volume, and other fundamental and technical factors. The screener is available on the free version, with some additional features in the paid plans. This screener offers data coverage for almost all essential stock exchanges worldwide.

TradingView Stock screener

The free version of this screener only allows limited data export capabilities, such as exporting chart data in CSV format. The subscription fee for paid users is a minimum of €155.40 per year.

Pros

  1. The free plan allows users to access a variety of features without incurring any cost
  2. Provides a range of advanced analytical tools, e.g. charting, for savvy investors
  3. Offers an engaged community of traders and investors
  4. Provides access to a wide range of global markets. These include stocks, commodities, cryptocurrencies etc.
  5. Gives seamless trading directly from the platform through integrations with several brokers
  6. The platform is available on both Android and iOS devices

Cons

  1. The free plan has restricted access to certain features, such as, charting, technical indicators etc.
  2. Certain users have reported problems with the efficiency and responsiveness of customer service
  3. The free version only allows data to be exported in a CSV format

Finviz

Finviz is another web-based stock screener that offers a great free option as well as paid subscriptions. It has a variety of services, such as, a powerful stock screener, heatmaps for visualizing market activity, portfolio organization tools, sector performance analysis, futures insights, and in-depth charting capabilities. Its screener can filter stocks by fundamental metrics like market cap, price range, volume, valuation ratios etc.

However, unlike TradingView, the structure is a bit more complicated and less aesthetically pleasing. You can also not export data to MS Excel in the free version of Finviz.

Finviz stock screener

The paid subscription starts at $39.50/month and gives advanced charting, backtesting, correlations, alerts, and up to 100 portfolios and screener presets. The paid version is also free of advertisements. For active investors, a paid subscription is an excellent option to consider.

Pros:

  1. Free option available
  2. Gives access to the stock screener, maps, groups, portfolio management tools, insider trading data, and other features
  3. Lots of customization options
  4. Gives access to global exchanges

Cons:

  1. Cannot save custom screens or export data on the free version
  2. Paid subscription is required for more comprehensive filtering and real-time data
  3. Less intuitive to use
  4. Includes distracting ads on the free version

StockRover

Stockrover is a web application that offers both free and paid plans. It gives access to over 500 financial metrics, covering price performance, operational and financial data, as well as sector and industry information.

It has a library of pre-built screeners based on fundamental qualities, momentum, etc. The free plan has access to the pre-built screeners and basic filtering. It is a comprehensive tool that caters to investors of all levels, from those looking to quickly scan for ideas using pre-built screens to more advanced users creating custom filters.

The paid subscription starts at $7.99/month and gives you access to more comprehensive filtering criteria, fundamental data, detailed charts, and real-time quotes for global markets.

StockRover stock screener

Pros:

  1. Free option available
  2. Comprehensive filtering criteria included
  3. Easy to compare stocks through portfolios and watchlists
  4. Provides stock ratings, fair value estimates, and analyst ratings
  5. Ability to create custom screeners or use pre-built ones based on investment strategies

Cons:

  1. Need to create an account before accessing it
  2. Does not support crypto, options, forex, or futures data
  3. Only covers North American markets
  4. Customer support is email-only for free users, with an extra $50/year fee for phone support on paid plans
  5. More complicated to use

Yahoo Finance

Yahoo Finance is a great free option for both investors that are just starting out and those that are experts. The screener has a user-friendly interface. It can filter and find investments based on specific criteria such as price, industry, and financial metrics. Users can create and save custom screeners, select from dozens of key statistics, financial highlights, and valuation measures to narrow down their search. It provides access to premade screeners. One can also export data in CSV format.

The paid subscription starts at $7.95/month. It gives access to real-time data which includes stocks, ETFs, cryptocurrencies etc. The screener covers 100+ exchanges.

Yahoo Finance stock screener

Pros:

  1. The free version allows users to filter stocks based on various criteria without requiring a subscription or account creation
  2. The interface is clean and easy to navigate
  3. Comprehensive data coverage
  4. One of the few free resources that allows users to screen for sustainable ESG (environmental, social, and governance) stocks
  5. Users can create and save their own custom screeners

Cons:

  1. Need a premium account to export data
  2. Lacks some advanced features that are available on paid platforms, e.g. more detailed financial data and technical indicators
  3. The free version of the screener does not provide premium data, such as, analyst ratings and financial news
  4. Cannot save the custom screener on the free version
  5. Limited filtering criteria and customization on the free option

Investing.com

Investing.com is a good free option for investors looking for global market data. It allows users to filter and find investments based on specific criteria. These include market capitalization, sector, and financial metrics. With a vast array of filters and criteria, users can create custom screens. It provides real-time data and updates. It allows users to save and share their custom screens, making it easy to track and monitor their investments over time.

The paid subscription starts at $4.99/month. The paid plans provide users with an ad-free experience.

Investing.com stock screener

Pros:

  1. The screener provides real-time market data
  2. Simple interface
  3. Users can create custom screens to identify potential investment opportunities
  4. Ability to compare same sector companies
  5. Easily export results to the watchlist
  6. Easy to use and access, with simple registration and login processes

Cons:

  1. Limited screening options on both free and paid options
  2. Lacks some advanced features that are available on paid platforms. These include detailed financial data and technical indicators
  3. Does not allow users to export the data
  4. Difficult to customize
  5. The free version of the screener does not provide premium data, such as, analyst ratings and financial news, which are available on paid platforms

The Verdict

If price is not a top concern, then €155.40 per year, a feature-rich and highly customizable option, TradingView stands out. It has a user-friendly interface and advanced analytical tools, including charting and technical indicators, making it an excellent choice for both novice and experienced investors. It also offers a comprehensive free plan with access to a wide range of global markets.

For those seeking a free option with advanced functionalities, Finviz seems to be a great option. It offers a powerful stock screener, heatmaps, portfolio tools, and sector performance analysis, all within the free version. However, the free plan includes ads and limits data export capabilities.

The paid subscription, starting at $39.50/month, has advanced features, such as, real-time data, backtesting, and an ad-free experience. Finviz's strong customization options and access to global exchanges make it a valuable tool for investors seeking a deeper market analysis.

If you are seeking familiarity, easy of use, customization and advanced features, then for $60 per year, Wisesheets is an excellent option with access to a global selection of stock exchanges, cryptocurrencies etc. You can customize your screener according to your criteria, chart, filter etc. Lastly, you do not have to learn any new platform because it is available on Excel which almost all of us feel quite comfortable with using.

Guillermo Valles
 | Website

Hello! I'm a finance enthusiast who fell in love with the world of finance at 15, devouring Warren Buffet's books and streaming Berkshire Hathaway meetings like a true fan.

I started my career in the industry at one of Canada's largest REITs, where I honed my skills analyzing and facilitating over a billion dollars in commercial real estate deals.

My passion led me to the stock market, but I quickly found myself spending more time gathering data than analyzing companies.

That's when my team and I created Wisesheets, a tool designed to automate the stock data gathering process, with the ultimate goal of helping anyone quickly find good investment opportunities.

Today, I juggle improving Wisesheets and tending to my stock portfolio, which I like to think of as a garden of assets and dividends. My journey from a finance-loving teenager to a tech entrepreneur has been a thrilling ride, full of surprises and lessons.

I'm excited for what's next and look forward to sharing my passion for finance and investing with others!

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