Stocks that pass Graham's defensive-investor tests
Ranked by status, then by the share of tests passed. Updated daily using 5 investment models.
0 of 1,340 stocks Graham's model rates pass all seven tests, as of Nov 6, 2026. INGR ranks first.
Data as of
| # | Ticker | Tests passed | Graham | Score |
|---|---|---|---|---|
| 1 | INGR | 6/6 | Strong | 5.3 |
| 2 | UFPI | 6/6 | Strong | 4.6 |
| 3 | ALG | 6/6 | Strong | 4.3 |
| 4 | WTRG | 6/6 | Strong | 3.9 |
| 5 | FFBC | 5/5 | Strong | 8.3 |
| 6 | CATY | 5/5 | Strong | 8.2 |
| 7 | OFG | 5/5 | Strong | 8.1 |
| 8 | STBA | 5/5 | Strong | 7.6 |
| 9 | WABC | 5/5 | Strong | 7.3 |
| 10 | MTB | 5/5 | Strong | 7.1 |
| 11 | UNM | 5/5 | Strong | 7.1 |
| 12 | TRMK | 5/5 | Strong | 7.0 |
| 13 | FCF | 5/5 | Strong | 6.9 |
| 14 | FULT | 5/5 | Strong | 6.9 |
| 15 | RF | 5/5 | Strong | 6.7 |
| 16 | IBOC | 5/5 | Strong | 6.6 |
| 17 | ORI | 5/5 | Strong | 6.5 |
| 18 | RDN | 5/5 | Strong | 6.5 |
| 19 | CVBF | 5/5 | Strong | 6.4 |
| 20 | HOMB | 5/5 | Strong | 6.4 |
| 21 | SSB | 5/5 | Strong | 6.3 |
| 22 | FNB | 5/5 | Strong | 6.0 |
| 23 | WTFC | 5/5 | Strong | 6.0 |
| 24 | ZION | 5/5 | Strong | 5.9 |
| 25 | SBSI | 5/5 | Strong | 5.8 |
| 26 | AGO | 5/5 | Strong | 5.7 |
| 27 | BAC | 5/5 | Strong | 5.5 |
| 28 | HBAN | 5/5 | Strong | 5.3 |
| 29 | WAFD | 5/5 | Strong | 5.3 |
| 30 | TOL | 5/5 | Strong | 5.0 |
| 31 | BKU | 5/5 | Strong | 4.4 |
| 32 | RYN | 5/5 | Strong | 4.4 |
| 33 | GNTX | 5/5 | Strong | 4.3 |
| 34 | WFC | 5/5 | Strong | 4.3 |
| 35 | ALLY | 5/5 | Strong | 3.6 |
| 36 | KBH | 5/5 | Strong | 3.5 |
| 37 | LEN | 5/5 | Strong | 3.2 |
| 38 | PLAB | 6/7 | Attractive | 6.8 |
| 39 | BCC | 6/7 | Attractive | 5.1 |
| 40 | SMCI | 6/7 | Attractive | 5.0 |
| 41 | OTTR | 6/7 | Attractive | 4.9 |
| 42 | AX | 5/6 | Attractive | 7.0 |
| 43 | HAFC | 5/6 | Attractive | 6.3 |
| 44 | MTG | 5/6 | Attractive | 6.3 |
| 45 | APOG | 5/6 | Attractive | 5.9 |
| 46 | CUBI | 5/6 | Attractive | 5.8 |
| 47 | FHN | 5/6 | Attractive | 5.7 |
| 48 | NBHC | 5/6 | Attractive | 5.6 |
| 49 | SYF | 5/6 | Attractive | 5.6 |
| 50 | MHO | 5/6 | Attractive | 5.3 |
Graham's rules, as AlphaStocks applies them
| Test | Passes when |
|---|---|
| Adequate size | annual sales ≥ $100M |
| Strong financial condition | current ratio ≥ 2 and long-term debt ≤ net current assets |
| Positive earnings every year | 10 years |
| Uninterrupted dividends | 20 years |
| Per-share earnings growth over ten years | ≥ +33.3% (3-year averages, ten years apart) |
| Moderate P/E on 3-year average earnings | ≤ 15 |
| Moderate price to book value | P/B ≤ 1.5 or P/E × P/B ≤ 22.5 |
| Strong financial condition (public utility) | debt ≤ 2 × book equity |
How the tests become a status
- Strong: 7 of 7 passed
- Attractive: 5–6 of 7 passed
- Neutral: 3–4 of 7 passed
- Reject: 0–2 of 7 passed
- Insufficient data: fewer than 5 criteria evaluable
Not applicable to
Graham's model rates every sector profile.
Adapted for
- Bank — Criterion 2 (working capital) not applicable: ch. 14 sets no working-capital test for financial enterprises; the other six are evaluated.
- Insurer — Criterion 2 (working capital) not applicable: ch. 14 sets no working-capital test for financial enterprises; the other six are evaluated.
- Asset manager — Criterion 2 (working capital) not applicable: ch. 14 sets no working-capital test for financial enterprises; the other six are evaluated.
- Holding company — Criterion 2 (working capital) not applicable: ch. 14 sets no working-capital test for financial enterprises; the other six are evaluated.
- Utility — Criterion 2 uses Graham's utility test: debt ≤ 2 × book equity.
- REIT — Criterion 2 (working capital) not applicable: ch. 14 sets no working-capital test for financial enterprises; the other six are evaluated.
Source
The Intelligent Investor, Benjamin Graham. Cited as: The Intelligent Investor (rev. ed.), ch. 14.
With fewer evaluable criteria the count is scaled to seven. The bands are ours; Graham gives the criteria, not a grade.
How AlphaStocks computes the Graham Defensive-Investor Criteria →