Tool Comparison
Magic Formula Investing vs The Ledger Terminal
- Paid from
- —
- Free plan
- Yes
- Platforms
- Web
Best if
- Paid from
- —
- Free plan
- Yes
- Platforms
- Web
Best if
- You want stock comparison, data visualizations, and watchlist.
- You're a long-term investor who cares more about fundamentals than headlines
Pick Magic Formula Investing instead if
Magic Formula Investing
Free · Web
- Go this way if it's completely free.
Start here
The Ledger Terminal
Free • Paid plans available · Web
- You want stock comparison, data visualizations, and watchlist.
- You're a long-term investor who cares more about fundamentals than headlines
Skip both if: Neither one clicks with how you research; there are strong third options.
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Our take
The bottom line
Magic Formula Investing and The Ledger Terminal cover a lot of the same ground (2 shared categories, screeners and stock ideas), so for the basics you won't go far wrong with either. The Ledger Terminal simply does more: 17 categories to Magic Formula Investing's 2, including stock comparison, data visualizations, and watchlist. Magic Formula Investing counters by being completely free.
What readers say
Magic Formula Investing
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The Ledger Terminal
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Key differences at a glance
- Global coverage
- The Ledger Terminal
- Free trial
- The Ledger Terminal7 days
- Broader coverage
- The Ledger Terminal17 vs 2 categories
- Free plan
- Both
What Magic Formula Investing does best
- The official Magic Formula screener with two inputs, minimum market cap and either 30 or 50 results.
- Screening for companies ranked on high earnings yield and high return on capital, with the accounting adjustments described by the official methodology.
- A narrow value and quality idea list for further research.
- Focus on U.S.-listed equities because the official universe excludes foreign companies and ADRs.
- Financial and utility companies are excluded from the official screen.
What The Ledger Terminal does best
- Direct access to one-page stock tearsheets that combine business description, historical financials, valuation visuals, quality checks, SEC filing links, and relevant news.
- More than 10,000 US stocks, plus UK companies sourced from ESEF filings.
- Review SEC EDGAR-derived financial-statement history with source filing links, automated QA checks, annual and quarterly data, and trailing twelve months where available.
- Log-scale valuation charts to compare price against fair value views such as P/E, P/FCF, P/CF, and P/OE owner earnings.
- Support for applying a 9-point quality checklist covering profitability, growth, capital efficiency, shareholder returns, fair value, and balance-sheet health.
Side by side
Pricing comparison
See for yourself
Side by side
Price, platforms, data, and market coverage.ShowHide
Side by side
| Attribute | ||
|---|---|---|
| Pricing & plans | ||
Starting price | Free | Free • Paid plans available |
Free tier | Yes | Yes |
Free trial | — | 7 days |
Plan limits | — | 7 limits: Free: anonymous daily stock views: 1, Free: authenticated daily stock views: 6 +5 more |
| Platforms & access | ||
Web app | Yes | Yes |
Mobile app | No | No |
API access | No | No |
Broker sync | — | No |
Integrations | — | SEC EDGAR source links and Third-party financial data |
| Audience & fit | ||
Experience level | Beginner, Intermediate, Advanced | Beginner, Intermediate, Advanced |
Best for | — | Retail Traders, Pro Retail +7 more |
Categories covered | 2 | 17 |
Regions | North America | North America, Europe |
| Data & capabilities | ||
Data quality | 3 signals: Latency: End of Day, Granularity: EOD +1 more | 3 signals: Latency: End of Day, Granularity: EOD +1 more |
Data partners | — | 3 partners: SEC EDGAR, Third-party financial data +1 more |
Capabilities | — | Universe builder and Factors: Value, Quality, Growth, and Size |
Security | — | Data residency: EU and Other and Encryption in transit |
| Try it | Visit Magic Formula Investing | Visit The Ledger Terminal |
Standout features
The best features of Magic Formula Investing and The Ledger Terminal.ShowHide
Standout features
What Magic Formula Investing does best
- The official Magic Formula screener with two inputs, minimum market cap and either 30 or 50 results.
- Screening for companies ranked on high earnings yield and high return on capital, with the accounting adjustments described by the official methodology.
- A narrow value and quality idea list for further research.
- Focus on U.S.-listed equities because the official universe excludes foreign companies and ADRs.
- Financial and utility companies are excluded from the official screen.
What The Ledger Terminal does best
- Direct access to one-page stock tearsheets that combine business description, historical financials, valuation visuals, quality checks, SEC filing links, and relevant news.
- More than 10,000 US stocks, plus UK companies sourced from ESEF filings.
- Review SEC EDGAR-derived financial-statement history with source filing links, automated QA checks, annual and quarterly data, and trailing twelve months where available.
- Log-scale valuation charts to compare price against fair value views such as P/E, P/FCF, P/CF, and P/OE owner earnings.
- Support for applying a 9-point quality checklist covering profitability, growth, capital efficiency, shareholder returns, fair value, and balance-sheet health.
All details
Every attribute we track for Magic Formula Investing and The Ledger Terminal.ShowHide
All details
| Attribute | ||
|---|---|---|
| Coverage & fit | ||
Asset types | Stocks | Stocks |
Experience | BeginnerIntermediateAdvanced | BeginnerIntermediateAdvanced |
Target audience | Not specified | Retail TradersPro RetailLong-term InvestorsValue InvestorsQuality InvestorsGrowth InvestorsDividend InvestorsAnalysts+1 more |
Regions | North America | North AmericaEurope |
Coverage details | Countries: USIdentifiers: Ticker | Countries: US and GBIdentifiers: Ticker |
| Data | ||
Data freshness | End of Day | End of Day |
Data granularity | EOD | EOD |
Pricing sources | Not specified | VendorModel |
Data partners | Not specified | SEC EDGARThird-party financial dataFinancial outlets and wire services |
| Access & integrations | ||
Import methods | Not specified | Manual |
Integrations | Not specified | SEC EDGAR source linksThird-party financial data |
Export formats | Not specified | Excel |
| Plans & trust | ||
Security & compliance | Not specified | Data residency: EU and OtherEncryption in transit |
Capability signals | Not specified | Universe builderFactors: Value, Quality, Growth, and Size |
Vendor & support | Not specified | The Ledger TerminalCountry: PortugalSupport: Email |
Curation ratings | Methodology 4/5Reliability 4/5UX 3/5 | Not specified |
Green tags are exclusive to that tool in this comparison.
Pricing
Plans, billing, free trials, and monthly prices.ShowHide
Pricing
| Tier | ||
|---|---|---|
| Free plan | Free | Freeanonymous daily stock views: 1 · authenticated daily stock views: 6 · +2 more |
| Entry paid plan | — | Subscription“Pro (Annual)”annual renewal usd: 144 · financial history years: 15 · +1 more |
| Free trial | — | 7 days |
Questions we keep getting
What's the difference between Magic Formula Investing and The Ledger Terminal?
Magic Formula Investing leans toward screeners and stock ideas, while The Ledger Terminal puts more weight on stock ideas, screeners, and stock comparison. They overlap in 2 categories, so for most people it comes down to workflow preference and price.
How much do Magic Formula Investing and The Ledger Terminal cost?
Good news: both Magic Formula Investing and The Ledger Terminal have free plans, so you can run them side by side and only pay if you hit a wall.
Should I choose Magic Formula Investing or The Ledger Terminal?
It depends on what you're after. Pick Magic Formula Investing if you prefer its overall approach; go with The Ledger Terminal if you'd rather have stock comparison and data visualizations. And if you only need the basics both share, let price decide.
Which covers international markets: Magic Formula Investing or The Ledger Terminal?
The Ledger Terminal has documented international coverage (North America and Europe), so it's the safer bet if you hold non-US stocks. Magic Formula Investing is more region-specific, mainly North America.
Can I export data from Magic Formula Investing and The Ledger Terminal?
The Ledger Terminal exports to Excel. Magic Formula Investing is stingier about getting data out.
Which has a better stock screener: Magic Formula Investing or The Ledger Terminal?
Both Magic Formula Investing and The Ledger Terminal include stock screeners, and they differ more in interface than raw power; try both and see which one clicks for you.
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Curation & Accuracy
This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).
Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.