This guide walks through using QuanterLab's fundamental analysis tools, from the Multi-Factor Screener through the deep-dive research units.
The Multi-Factor Screener (FM099MFSX)
Access it from the Dashboard → Fundamental Analysis, or directly from the Fundamental ribbon tab. Select an index to begin.
Step 1: Select Your Universe
Choose a stock index to screen. Available indexes include S&P 500, NASDAQ 100, FTSE 100, DAX 40, CAC 40, Euro STOXX 50, Nikkei 225, and Hang Seng. The screener fetches live financial data for every constituent.
Step 2: Configure Factor Weights
Four expandable panels let you adjust the importance of each factor. The total must sum to 100%:
- Value — P/E, P/B, P/S, EV/EBITDA, FCF Yield, Earnings Yield
- Quality — ROE, ROA, ROIC, Gross Margin, Operating Margin, Net Margin, Debt/Equity, Current Ratio, Interest Coverage
- Momentum — 1-Month, 3-Month, 6-Month, 12-Month, and YTD returns
- Growth — Revenue Growth, EPS Growth, 3Y Revenue CAGR, 3Y EPS CAGR, FCF Growth, Book Value Growth
Within each panel, individual metrics can be set to Off, Low, Medium, or High importance.
For a value-focused screen, set Value to 40% and reduce Momentum to 10%. For growth investing, set Growth to 40% and Quality to 30%. The equal-weight default (25% each) is a balanced starting point.
Step 3: Set Options
- Normalization — Z-score (default, sensitive to distribution shape) or Percentile Rank (more robust to outliers)
- Outlier Handling — Winsorization at 1st/99th percentile caps extreme values to prevent one outlier from distorting the entire ranking
- Results Count — Show top 25, 50, 75, or 100 stocks
- Sector Exclusion — Optionally exclude specific sectors (useful for removing Financials or Utilities which have different financial structures)
Step 4: Review Results
The results table shows each stock ranked by composite score (0-100), with individual factor scores. Additional tabs show:
- Sector Distribution — How the top results break down by sector
- Excluded Stocks — Companies removed due to missing data, with specific reasons
- Metric Details — Valid, missing, and extreme value counts per metric
Deep-Dive Research Units
After screening, dive deeper into individual stocks using the eight research modules. Each takes a single ticker and produces a comprehensive report.
Profitability Quality Analyzer (FM003)
Analyzes gross margin, operating margin, net margin, asset turnover, ROE, and ROA over multiple years. Shows margin trend charts and identifies improving or deteriorating profitability.
Cash Flow Quality Analyzer (FM004)
Examines operating cash flow consistency, free cash flow generation, cash conversion ratios, and capex coverage. Compares cash flow trends to reported earnings to detect potential quality issues.
Earnings Quality Analyzer (FM005)
Evaluates earnings stability, accrual ratios, and the relationship between reported earnings and actual cash generation. Flags companies where earnings may not be sustainable.
Capital Allocation Analyzer (FM006)
Studies debt management, coverage ratios, capital expenditure decisions, and shareholder return policies (dividends, buybacks). Identifies companies that deploy capital effectively.
Piotroski F-Score (FM007)
Implements Joseph Piotroski's 9-signal scoring system using quarterly data over 40 periods. Evaluates profitability (4 signals), leverage/liquidity (3 signals), and operating efficiency (2 signals). Score of 8-9 indicates strong fundamentals; 0-2 indicates weak.
Valuation Multiples (FM008)
Comprehensive valuation analysis using P/E, P/B, P/S, EV/EBITDA, Price/FCF, and EV/Sales. Compares current multiples to 10 years of historical data and sector peers. Shows whether a stock is trading above or below its historical range.
Intrinsic Value / DCF (FM009)
Discounted Cash Flow analysis estimating fair value per share. Incorporates analyst price targets, DCF-derived intrinsic value, and calculates upside or downside from the current market price.
Macro Economic Overlay (FM010)
Maps 47 macroeconomic indicators across six categories: Fed Policy, Inflation, Employment, Growth, Consumer, and Housing/Risk. Includes six preset bundles (Essential 8, Fed Watcher, Inflation Focus, Growth Cycle, Risk Monitor, Housing & Rates). Calculates stock-specific macro sensitivity (macro beta) showing how a stock responds to each economic indicator.
The Macro Overlay pulls from both the Financial Modeling Prep (FMP) API and the Federal Reserve Economic Data (FRED) database, providing the most comprehensive coverage of economic indicators.
Connecting It All Together
- Screen — Run the Multi-Factor Screener and note your top 10-15 candidates
- Score — Check the Piotroski F-Score for each candidate (target 7+)
- Deep Dive — Run Profitability and Cash Flow analyzers on your top 5
- Value — Use Valuation Multiples and Intrinsic Value to confirm the stock is reasonably priced
- Macro Check — Run the Macro Overlay to understand how your candidates respond to the current economic environment
- Optimize — Feed your final selections into MVO, HRP, or IVO for position sizing