Value & GARP
Turnaround Candidates
Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Market filter active: the list shows 0 hits from Germany
Erst der Absturz, dann die Wende: Wer einen Turnaround früh erkennt, kauft weit unter den alten Höchstkursen — wie bei Puma, die sich von Anfang 2001 bis Mitte 2003 verfünffachte, nachdem die Sanierung griff. Genau solche Kandidaten sucht dieser Scanner mit einem 4-Säulen-Modell: zwei Pflicht-Säulen sichern Absturz und Überleben, der Wende-Check mit 8 Punkten belegt die tatsächliche Wende.
Was dieser Scanner prüft
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Der Absturz Pflicht
Die Aktie notiert mindestens 50 % unter ihrem Allzeithoch. Ohne echten Absturz kein Turnaround — sonst fängt man normale Wachstumsaktien.
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Das Überleben Pflicht
Altman-Z-Score außerhalb der Gefahrenzone, höchstens ein Bilanz-Warnsignal, positives Eigenkapital. Die wichtigste Säule: Der klassische Turnaround-Fehler ist die Pleite vor der Wende.
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Die operative Wende Wende-Check · 4 Punkte
Umsatz stabilisiert sich, Nettomarge und operativer Cashflow verbessern sich, die Bilanz heilt. Es zählt die Richtung, nicht der Zustand — Verluste dürfen bleiben, solange sie schrumpfen.
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Die Markt-Bestätigung Wende-Check · 4 Punkte
Kurs zurück über der 50-Tage-Linie, die relative Stärke dreht, Insider kaufen netto, große Fonds stocken auf — der Markt beginnt umzudenken.
Angezeigt wird, wer beide Pflicht-Säulen erfüllt und mindestens 6 der 8 Wende-Check-Punkte erreicht — die Spalte «Wende-Check» zeigt den Stand jeder Aktie. Handelbarkeit ist Voraussetzung (Kurs > 3 $, Ø-Dollar-Volumen > 2 Mio $), Reverse-Split-verzerrte Titel sind ausgeschlossen. Quelle: Fundamentaldaten. · No global trading filters — this strategy checks the entire stock universe purely against its own criteria (mega caps over $50B included).
Important: Ein Turnaround bleibt eine Wette auf die Wende — die Liste ist eine Recherche-Einladung, kein Kaufsignal.
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The Criteria in Detail
Säule 1 — Der Absturz (Pflicht)
- Die Aktie notiert mindestens 50 % unter ihrem Allzeithoch. Ohne echten Absturz kein Turnaround; sonst fängt man normale Wachstumsaktien.
Säule 2 — Das Überleben (Pflicht)
- Der Altman-Z-Score — ein bewährtes Pleite-Frühwarnsystem aus mehreren Bilanzkennzahlen — liegt außerhalb der Gefahrenzone.
- Die Bilanz zeigt höchstens ein Warnsignal.
- Das Eigenkapital ist positiv.
- Die wichtigste Säule: Der klassische Turnaround-Fehler ist die Insolvenz vor der Wende. Wer eine der beiden Pflicht-Säulen nicht erfüllt, fliegt raus.
Säule 3 — Die operative Wende (4 Wende-Check-Punkte)
- Der Umsatz ist im jüngsten Quartal nicht mehr rückläufig — oder der Rückgang verringert sich zwei Quartale in Folge.
- Die Nettomarge liegt über dem Stand von vor drei Quartalen und steigt zuletzt.
- Der operative Cashflow ist positiv oder verbessert sich zwei Quartale in Folge.
- Die Bilanz heilt: Altman-Z-Score oder Zinsdeckung liegen über dem Stand von vor drei Quartalen.
Säule 4 — Die Markt-Bestätigung (4 Wende-Check-Punkte)
- Der Kurs steht wieder über der 50-Tage-Linie.
- Die relative Stärke der letzten 3 Monate übertrifft die der letzten 12 — der Markt beginnt umzudenken.
- Insider kaufen netto eigene Aktien.
- Die großen Fonds stocken ihre Beteiligungen auf.
Terms in This Scanner Explained
(19)
- ADR (Average Daily Range)
- The average daily swing of a stock in percent - measured over 10 or 30 trading days (columns "ADR 10D/30D"). An ADR of 5% means: on a normal day the gap between the intraday low and high runs about 5%. Traders look for movement - that is why stocks with an ADR under 1% are filtered out globally. Not to be confused with ADR meaning "American Depositary Receipt" (a US certificate for foreign shares) - here ADR always means the daily swing.
- AI Classification
- Our company-by-company assessment of the AI boom based on SEC filings (the last four quarterly 10-Q reports and two annual 10-K reports): "Sells AI" (AI is a revenue source), "Threatened" (AI is a concrete business risk), "Uses AI" (operational use), or "Neutral" (no material AI exposure). Every classification requires at least two direct quote citations - otherwise the column shows "-". Not a quality judgment or a buy recommendation; the full file is on the stock page, methodology at /stocks/ai-rating-methodology.
- Altman Z-Score
- A bankruptcy early-warning system developed by Edward Altman: several balance-sheet ratios are combined into one score. Values above 3 are considered a safe zone, values below about 1.1 a distress zone with elevated bankruptcy risk.
- Analysis (Full Company Analysis)
- If the Analysis column shows "Read," there is an in-depth Minnow Street company analysis for this stock: business model, scanner findings, quarterly results, evidence from SEC filings, plus opportunities and risks. One click opens it directly.
- Avg/Yr 3Y (Average Annual Return)
- The stock's average annual return over the past 3 years. Shows at a glance whether a stock delivers over the long run or just had a short hot streak.
- Earnings Date
- The date of the next quarterly earnings report. Price gaps in either direction are common around this date - that is why we color it red when it is 7 days away or less, and yellow when it is 14 days away or less: elevated risk for fresh positions.
- EPS (Earnings per Share)
- Quarterly earnings divided by the number of shares outstanding. The most important growth metric: if EPS rises strongly over several quarters, the company is earning more money per share.
- Free Cash Flow (FCF)
- Operating cash flow minus capital expenditures - the money left over for everything else (debt paydown, acquisitions, or buybacks). Consistently positive free cash flow is one of the most honest signs of a healthy business model.
- Funda Rating (Fundamental Rating A+ to F)
- Our proprietary fundamental rating from -100 to +100 with a school-grade rank from A+ to F. Every stock is scored against all others by percentile: growth in earnings and revenue, earnings surprises, analyst estimates, and quality criteria such as margins, cash flow, and balance-sheet strength. A/A+ are the fundamentally strongest stocks in the universe.
- Insider Buying / Selling
- Purchases and sales of a company's own stock by executives and officers - subject to SEC disclosure in the US. Insiders sell for many reasons (a house, taxes), but they buy for essentially one reason: they think the stock is too cheap.
- Long / Short
- Long = betting on rising prices (buying the stock). Short = betting on falling prices (selling borrowed shares to buy them back cheaper later). Our short scanners are warning or watch lists - not buy candidates.
- Market Capitalization (Mkt Cap)
- The market value of the company: share price x total shares outstanding, shown here in billions of dollars. Micro caps (< $0.3B) are small and volatile, mega caps (> $200B) are heavyweights. Our scanner universe is deliberately capped at $50B - we look for stocks with room to run.
- Net Margin
- How much of revenue is left as profit? Net income divided by revenue, in percent. A 20% margin means: out of every dollar of revenue, 20 cents is left as profit. Rising margins are a strong quality signal.
- Operating Cash Flow (OCF)
- The cash that actually flows into the company from day-to-day operations - without accounting effects such as depreciation. A company can report book profits while still burning cash; operating cash flow reveals that.
- Piotroski F-Score
- A balance-sheet health check developed by Joseph Piotroski: 9 yes/no criteria covering earnings, cash flow, leverage, and efficiency produce a score from 0 to 9. Scores of 7 or higher are considered financially very solid, scores under 3 a warning sign.
- Reverse Split
- A share consolidation, e.g., 10 old shares become 1 new share - the price appears to jump tenfold without the company becoming worth more. Struggling companies use this to avoid looking like a penny stock; we automatically filter out such distorted stocks.
- Sector & Industry
- Two levels of industry classification: sector is broad (e.g., Technology), industry is narrow (e.g., Semiconductors). Many strategies watch industry strength, because strong stocks are almost always found in strong industries.
- Stage (Weinstein Stages 1-4)
- Stan Weinstein divides every price chart into four stages: Stage 1 = basing (sideways after a downtrend), Stage 2 = uptrend (the only buying stage), Stage 3 = topping, Stage 4 = downtrend (avoid, or short candidate). Measured against the 30-week line (150-day moving average) and its slope.
- Stress RS (Strength on Stress Days)
- A stress day is a day on which both the overall market and the stock's own sector fell at least 0.5%. Stress RS counts on how many of these days the stock still closed green (shown as "g/n" = green days out of n stress days) and turns that into a rating from 1 to 99. High values point to buyers stepping in even on weak days - often a sign of institutional accumulation.
Hit List
Tip: clicking a column header sorts the table by that column; a second click flips the direction.
| Symbol | Turn Check | Earnings | Avg/Y 3Y | Stress RS | Stage | Funda Rating | Piotroski | MktCap | Industry | AI Rating | Deep Dive | Deep-Dive Report | Sector | Price | YTD | 6 Mo. | 1 Year | Off High | Price Target | RS | EPS Rating | ADR 10D | ADR 30D | Beta | P/E | P/E (f) | P/S | P/B | P/FCF | PEG | EV/EBITDA | EBIT Margin | Gross Margin | Net Margin | ROE | ROA | Debt/Eq | Equity Ratio | Sales +/Y | Div. Yield | Payout Ratio | Altman Z | Inst. % | Short % | Analysts |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No stocks currently pass this scanner. | |||||||||||||||||||||||||||||||||||||||||||||
Frequently Asked Questions
A turnaround is the reversal of fortune of a struggling company: first the stock crashes, then the business turns around — and whoever spots the turn early buys far below the old highs. Famous example: Puma quintupled from early 2001 to mid-2003 once its restructuring took hold. This scanner hunts exactly these candidates with a 4-pillar model.
All scanners are recalculated daily across the entire stock universe — most recently on 21. July 2026. The data basis is fundamental data and SEC filings (10-K annual reports and 10-Q quarterly reports).
Currently, 64 stocks pass this scanner's criteria (as of 21. July 2026). The 25 strongest hits are shown.
No global trading filters — this strategy checks the entire stock universe purely against its own criteria (mega caps over $50B included).
The Turn Check counts how many of eight turnaround signals a stock shows. Four check the operational turn — as direction over recent quarters, because a turnaround is a movement, not a state: sales are no longer declining in the latest quarter (or the decline has narrowed two quarters in a row), net margin sits above its level of three quarters ago and has been rising lately, operating cash flow is positive or improving two quarters in a row, and the Altman Z-Score or interest coverage sits above its level of three quarters ago (the balance sheet is healing). Losses are still allowed to be losses — what matters is that they're shrinking. Four signals check market confirmation: price above the 50-day line, relative strength over the last 3 months above that of the last 12, insiders buying on a net basis, big funds adding. Only stocks scoring at least 6 of the 8 points make the scanner — after first passing the entry requirement: at least 50% below the all-time high AND survival secured (Altman Z-Score outside the danger zone, at most one balance-sheet red flag, positive equity).
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Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.