Top 50 Magic Formula Spain | Magic Formula Investing

Top 50 Spain

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Top 50 Methodology Spain

Spain market currently offers exceptional opportunities for "value" investors. Using the Magic Formula, we have identified the 50 companies combining a high Earnings Yield and a solid ROC.

Flash Market Analysis

Current analysis of the Spain market highlights a strong Top 5 (including IAG.MC, LOG.MC, PUIG.MC, AMS.MC, AENA.MC) with an average Earnings Yield of 11.3% and an average ROC of 2050.6%. These figures confirm the presence of high-profitability stocks undervalued by the market.

Data is refreshed at the close of each trading session. Magic Formula Investing does not constitute investment advice.

MMagic Rank	Ticker	Price	Var.	EYEarnings Yield	ROC	EV
1	IAGInternational Consolidated Airlines Group S.A	€4.59	+1.64%	23.8%	Exceptional6550.6%*	20.2 B
2	LOGCia de Distribucion Integral	€33.30	+0.12%	9.4%	Exceptional1675.7%*	4.1 B
3	PUIGPuig Brands SA	€15.27	-13.44%	8.3%	290.9%	9.7 B
4	AMSAmadeus IT Group S.A.	€51.46	-0.27%	7.3%	Exceptional1553.1%*	24.2 B
5	AENAAena SA	€23.80	+0.42%	7.7%	182.9%	37.5 B
6	ANAAcciona	€254.40	+1.68%	8.1%	69.2%	21.2 B
7	TEFTelefonica	€4.07	+0.79%	3.8%	Exceptional3832.0%*	49.1 B
8	REPRepsol S.A.	€22.26	-2.80%	8.9%	36.0%	30.2 B
9	ITXIndustria de Diseno Textil SA	€50.78	+0.87%	5.7%	148.6%	144.7 B
10	ROVILaboratorios Farmaceuticos ROVI	€59.05	-1.59%	5.8%	44.6%	3.0 B
11	IDRIndra A	€52.68	+1.82%	4.3%	55.2%	10.9 B
12	FERFerrovial S.A.	€58.46	+0.14%	2.0%	114.3%	48.4 B
13	MTSArcelorMittal SA	€56.70	+3.59%	4.4%	25.4%	46.7 B
14	ACSACS Actividades de Construccion y Servicios SA	€123.60	+0.08%	4.0%	35.5%	36.1 B
15	ACXAcerinox	€15.25	+2.95%	3.0%	9.7%	4.8 B

Methodology Note

* Exceptional ROC

A rating above 1000% signifies companies with 'Negative Working Capital'. This occurs when current liabilities exceed tangible assets, meaning the business effectively operates using its suppliers' or customers' money.

Note: Traditional ROC is capped at 999% to prioritize these high-efficiency structures in our ranking algorithm.

In-depth Market Analysis: Spain

By examining fundamental data for the Spain market, it appears that Joel Greenblatt's strategy continues to isolate exceptional stocks like International Consolidated Airlines Group S.A (IAG.MC) or Cia de Distribucion Integral (LOG.MC). The current ranking shows that Top 50 leaders display remarkable operational efficiency with an average return on capital of 2050.6%. The systematic approach applied here allows focusing on raw capital performance. Investors may note that companies such as Puig Brands SA (PUIG.MC) and Amadeus IT Group S.A. (AMS.MC) are excellently positioned thanks to their cash-flow generation capacity relative to their enterprise value.

The methodology used to generate this ranking is based on decimal ranking of companies according to two criteria: earnings yield (to ensure not overpaying) and return on capital (to ensure company quality). For the Spain market, this identifies opportunities often ignored by traditional analysts.

This Top 50 ranking for the Spain market is generated by filtering companies with a market capitalization greater than 50 million dollars, excluding financial values and utilities in accordance with Greenblatt's original methodology.

Data is refreshed at the close of each trading session. Magic Formula Investing does not constitute investment advice.