Joel Greenblatt 的神奇公式(Magic Formula)是一個價值投資的選股策略。
這個策略的目標是：找到價格便宜的優質公司。
在 The Little Book that Beats the Market 一書中，Joel Greenblatt 提到，神奇公式在1988年至2009年的20年間，其年化回報率高達23.8%，大幅跑贏標普500指數僅9.6%的同期回報，表現無疑相當驚人。
神奇公式通過兩個簡單的核心指標，資本報酬率(ROIC)和盈余殖利率(Earning Yield)，來尋找「質優」和「價廉」的股票。
具體而言，資本報酬率(ROIC)是用來判斷管理層運用公司資產經營能力的高低；當然，買入經營能力好的公司，投資回報自然較高。
而盈余殖利率(Earning Yield)則是用來分析股票的估值；當股票被嚴重低估時，盈余殖利率就會飆升，投資者在這時候買入股票的潛在回報就會相對較高。
財報說自動計算出上市公司的資本報酬率(ROIC)和盈余殖利率(Earning Yield)，并進行綜合排名。
該榜單還加入財報說 CBS 評分和體質燈號機制，供您綜合參考。
溫馨提示：
神奇公式有其局限性，投資者應綜合多年財報數據、股價趨勢等因素進一步分析考量。
建議結合股價斜率榜、CBS 財報打分榜共同使用。
免責聲明：
本榜單僅供公司分析使用，不構成投資建議或推薦；過往業績不代表未來表現，股市有風險，投資需謹慎。
共 1387 間公司，其中 A 股 269 間公司
| 序號 | 公司 | 資本報酬率（ROIC） | 盈余殖利率 | CBS | 燈號 |
|---|---|---|---|---|---|
| 1 | [解鎖榜單] | 73.7% | 19.63% | 98.47 | 低估 |
| 2 | [解鎖榜單] | 23.5% | 8.45% | 96.37 | 低價 |
| 3 | [解鎖榜單] | 31.2% | 4.00% | 95.85 | 中等 |
| 4 | [解鎖榜單] | 22.2% | 3.13% | 95.51 | 過熱 |
| 5 | [解鎖榜單] | 40.7% | 10.70% | 95.25 | 低估 |
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立即開通專業版會員| 序號 | 公司 | 資本報酬率（ROIC） | 盈余殖利率 | CBS 評分 | 燈號 | 自選 |
|---|---|---|---|---|---|---|
| 1 | [解鎖榜單] | 14.3% | 12.67% | 70.08 | 低價 | |
| 2 | [解鎖榜單] | 481.3% | 13.78% | 75.98 | 低價 | |
| 3 | [解鎖榜單] | 52.5% | 27.50% | 93.58 | 低價 | |
| 4 | [解鎖榜單] | 11.9% | 17.54% | 82.06 | 低價 | |
| 5 | [解鎖榜單] | 24.5% | 18.34% | 82.72 | 低價 | |
| 6 | [解鎖榜單] | 20.2% | 10.63% | 86.39 | 中等 | |
| 7 | [解鎖榜單] | 144.7% | 6.06% | 80.5 | 低估 | |
| 8 | [解鎖榜單] | 17.5% | 11.34% | 81.2 | 中等 | |
| 9 | [解鎖榜單] | 12.5% | 8.56% | 82.52 | 低價 | |
| 10 | [解鎖榜單] | 17.8% | 17.00% | 75.16 | 中等 | |
| 11 | [解鎖榜單] | 17.8% | 11.32% | 75.49 | 中等 | |
| 12 | [解鎖榜單] | 16.1% | 13.87% | 84.13 | 低估 | |
| 13 | [解鎖榜單] | 21.2% | 7.01% | 94.2 | 低估 | |
| 14 | [解鎖榜單] | 19.2% | 7.78% | 77.32 | 低價 | |
| 15 | 承德露露 000848 | 23.5% | 8.45% | 96.37 | 低價 | |
| 16 | [解鎖榜單] | 21.5% | 8.38% | 75.09 | 中等 | |
| 17 | [解鎖榜單] | 13.3% | 8.72% | 70.88 | 低價 | |
| 18 | [解鎖榜單] | 11.8% | 10.64% | 78.97 | 過熱 | |
| 19 | [解鎖榜單] | 18.1% | 6.91% | 81.2 | 過熱 | |
| 20 | [解鎖榜單] | 17.2% | 14.99% | 73.69 | 低價 | |
| 21 | [解鎖榜單] | 27.2% | 4.76% | 90.23 | 低價 | |
| 22 | [解鎖榜單] | 13.5% | 12.19% | 81.26 | 低價 | |
| 23 | [解鎖榜單] | 14.6% | 10.14% | 81.61 | 中等 | |
| 24 | [解鎖榜單] | 13.2% | 9.77% | 79.81 | 中等 | |
| 25 | [解鎖榜單] | 21.2% | 9.72% | 87.06 | 中等 | |
| 26 | [解鎖榜單] | 31.5% | 8.99% | 94.87 | 低價 | |
| 27 | [解鎖榜單] | 14.0% | 9.75% | 78.38 | 低估 | |
| 28 | [解鎖榜單] | 22.2% | 5.57% | 78.89 | 低估 | |
| 29 | [解鎖榜單] | 14.1% | 7.07% | 70.42 | 中等 | |
| 30 | [解鎖榜單] | 20.5% | 17.36% | 76.75 | 低估 | |
| 31 | [解鎖榜單] | 12.2% | 11.58% | 71.76 | 中等 | |
| 32 | [解鎖榜單] | 11.9% | 6.76% | 76.78 | 中等 | |
| 33 | [解鎖榜單] | 17.6% | 13.04% | 82.45 | 低價 | |
| 34 | [解鎖榜單] | 22.1% | 10.17% | 83.99 | 中等 | |
| 35 | [解鎖榜單] | 12.7% | 9.18% | 81.72 | 中等 | |
| 36 | [解鎖榜單] | 18.3% | 15.05% | 86.62 | 低價 | |
| 37 | [解鎖榜單] | 17.4% | 10.81% | 77.4 | 中等 | |
| 38 | [解鎖榜單] | 17.9% | 9.61% | 88.88 | 低價 | |
| 39 | [解鎖榜單] | 33.3% | 10.38% | 89.18 | 中等 | |
| 40 | [解鎖榜單] | 28.5% | 12.20% | 84.98 | 中等 | |
| 41 | [解鎖榜單] | 40.7% | 10.70% | 95.25 | 低估 | |
| 42 | [解鎖榜單] | 12.1% | 11.76% | 70.83 | 過熱 | |
| 43 | [解鎖榜單] | 27.2% | 13.12% | 87.73 | 低價 | |
| 44 | [解鎖榜單] | 20.8% | 3.57% | 74.56 | 低價 | |
| 45 | [解鎖榜單] | 17.8% | 9.18% | 74.16 | 中等 | |
| 46 | [解鎖榜單] | 26.2% | 4.28% | 91.43 | 中等 | |
| 47 | [解鎖榜單] | 8.7% | 13.53% | 70.31 | 過熱 | |
| 48 | [解鎖榜單] | 24.1% | 23.28% | 83.79 | 中等 | |
| 49 | [解鎖榜單] | 27.9% | 3.32% | 93.21 | 中等 | |
| 50 | [解鎖榜單] | 20.8% | 6.88% | 87.62 | 中等 | |
| 51 | [解鎖榜單] | 14.3% | 12.54% | 79.29 | 過熱 | |
| 52 | [解鎖榜單] | 15.5% | 2.04% | 72.52 | 低價 | |
| 53 | [解鎖榜單] | 15.8% | 11.53% | 86.38 | 中等 | |
| 54 | [解鎖榜單] | 35.2% | 26.17% | 83.01 | 低估 | |
| 55 | [解鎖榜單] | 11.7% | 10.93% | 79.9 | 低價 | |
| 56 | [解鎖榜單] | 29.3% | 9.46% | 87.43 | 中等 | |
| 57 | [解鎖榜單] | 12.0% | 5.70% | 70.76 | 低價 | |
| 58 | [解鎖榜單] | 18.2% | 8.06% | 78.27 | 低價 | |
| 59 | [解鎖榜單] | 11.9% | 9.20% | 79.45 | 中等 | |
| 60 | [解鎖榜單] | 14.4% | 5.00% | 80.62 | 中等 | |
| 61 | 洋河股份 002304 | 19.8% | 4.92% | 90.76 | 低價 | |
| 62 | [解鎖榜單] | 16.2% | 3.91% | 88.13 | 中等 | |
| 63 | [解鎖榜單] | 23.4% | 8.72% | 87.77 | 低估 | |
| 64 | [解鎖榜單] | 25.1% | 19.22% | 72.31 | 低價 | |
| 65 | [解鎖榜單] | 10.6% | 4.49% | 70.39 | 低價 | |
| 66 | [解鎖榜單] | 11.6% | 5.76% | 71.52 | 過熱 | |
| 67 | [解鎖榜單] | 18.3% | 5.68% | 73.98 | 低價 | |
| 68 | [解鎖榜單] | 14.3% | 7.57% | 81.83 | 過熱 | |
| 69 | [解鎖榜單] | 17.7% | 21.32% | 80.12 | 中等 | |
| 70 | [解鎖榜單] | 18.7% | 8.77% | 79.7 | 中等 | |
| 71 | [解鎖榜單] | 18.4% | 10.27% | 70.87 | 低價 | |
| 72 | [解鎖榜單] | 42.8% | 5.46% | 83.55 | 低價 | |
| 73 | [解鎖榜單] | 18.6% | 7.23% | 82.61 | 低價 | |
| 74 | [解鎖榜單] | 14.8% | 6.31% | 70.17 | 過熱 | |
| 75 | [解鎖榜單] | 11.8% | 7.87% | 74.07 | 中等 | |
| 76 | [解鎖榜單] | 16.1% | 8.96% | 85.83 | 中等 | |
| 77 | [解鎖榜單] | 15.9% | 5.19% | 85.27 | 低估 | |
| 78 | [解鎖榜單] | 16.5% | 3.10% | 82.19 | 低價 | |
| 79 | [解鎖榜單] | 30.0% | 4.16% | 87.34 | 低價 | |
| 80 | [解鎖榜單] | 16.6% | 9.70% | 78.72 | 低價 | |
| 81 | [解鎖榜單] | 14.5% | 2.15% | 71.37 | 低價 | |
| 82 | [解鎖榜單] | 17.9% | 2.09% | 84.46 | 低價 | |
| 83 | [解鎖榜單] | 18.8% | 6.31% | 72.46 | 低價 | |
| 84 | [解鎖榜單] | 9.6% | 14.76% | 71.36 | 過熱 | |
| 85 | [解鎖榜單] | 23.3% | 5.75% | 72.42 | 低價 | |
| 86 | [解鎖榜單] | 30.5% | 3.78% | 93.14 | 低價 | |
| 87 | [解鎖榜單] | 25.8% | 5.21% | 87.6 | 低價 | |
| 88 | [解鎖榜單] | 14.8% | 8.04% | 78.54 | 中等 | |
| 89 | [解鎖榜單] | 10.1% | 6.28% | 71.93 | 低價 | |
| 90 | [解鎖榜單] | 21.0% | 8.09% | 74.03 | 低價 | |
| 91 | [解鎖榜單] | 15.9% | 13.79% | 75.81 | 低價 | |
| 92 | [解鎖榜單] | 23.4% | 5.37% | 85.8 | 中等 | |
| 93 | [解鎖榜單] | 10.9% | 5.30% | 77.4 | 中等 | |
| 94 | ?？低?/a> 002415 | 20.3% | 5.19% | 79.14 | 中等 | |
| 95 | [解鎖榜單] | 10.9% | 5.61% | 72.99 | 中等 | |
| 96 | 貴州茅臺 600519 | 30.9% | 3.33% | 92.08 | 低價 | |
| 97 | [解鎖榜單] | 10.1% | 9.47% | 75.84 | 低價 | |
| 98 | [解鎖榜單] | 12.9% | 7.56% | 74.4 | 中等 | |
| 99 | [解鎖榜單] | 15.2% | 3.87% | 71.05 | 低價 | |
| 100 | [解鎖榜單] | 9.2% | 7.04% | 72.01 | 中等 |