★ BEST INVESTING TOOLS COMPARISON ★
VOL. XCIV, NO. 247
Source check: The Ledger Terminal checked August 4, 2026
Tool Comparison
Magic Formula Investing vs The Ledger Terminal
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 • From $100.80/yr · Web
- You care about stock comparison, data visualizations, and watchlist, things Magic Formula Investing doesn't offer
- 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.
See alternativesOutbound links may include affiliate or sponsor codes.
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: 16 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
Vote once to reveal the community verdict.
The Ledger Terminal
Vote once to reveal the community verdict.
Key differences at a glance
- Broader coverage
- The Ledger Terminal16 vs 2 categories
- Free trial
- The Ledger Terminal7 days
- Free plan
- Both
See for yourself
How they stack up
The side-by-side table: pricing, platforms, data, and coverage at a glance.ShowHide
How they stack up
The side-by-side table: pricing, platforms, data, and coverage at a glance.| Attribute | ||
|---|---|---|
| Pricing & plans | ||
Starting price | Free | Free • From $100.80/yr |
Free tier | Yes | Yes |
Free trial | — | 7 days |
Plan limits | — | 7 limits: Free: anonymous daily stock views: 5, Free: authenticated daily stock views: 10 +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 | 16 |
Regions | North America | North America |
| 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 |
Where each one shines
What Magic Formula Investing and The Ledger Terminal each do best.ShowHide
Where each one shines
What Magic Formula Investing and The Ledger Terminal each do best.What Magic Formula Investing does best
- Tools for running the official Magic Formula screener with only two inputs: minimum market cap and either 30 or 50 ranked results.
- Screening for companies ranked on high earnings yield and high return on capital, with the accounting adjustments described by the official methodology.
- Magic Formula Investing serves as a simple value-quality idea list before checking financial statements, business quality, debt, cyclicality, and current valuation context.
- Focus on U.S.-listed equities because the official universe excludes foreign companies and ADRs.
- Sector exclusions: financial and utility companies are removed 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.
- Research coverage for 10,000+ quality-filtered U.S.-listed stocks while noting that OTC stocks, shell companies, penny stocks, and SPACs are excluded in the pricing FAQ.
- Views for reviewing 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.
Every detail we compared
Every tracked attribute for Magic Formula Investing and The Ledger Terminal, side by side.ShowHide
Every detail we compared
Every tracked attribute for Magic Formula Investing and The Ledger Terminal, side by side.| 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 America |
Coverage details | Countries: USIdentifiers: Ticker | Countries: USIdentifiers: 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 |
What you'll actually pay
Plans, billing, trials, and per-month pricing for both tools.ShowHide
What you'll actually pay
Plans, billing, trials, and per-month pricing for both tools.| Tier | ||
|---|---|---|
| Free plan | Free | Freeanonymous daily stock views: 5 · authenticated daily stock views: 10 |
| Entry paid plan | — | $100.80/yr≈ $8.40/mo“Pro (Annual)”public starting price monthly usd: 12 · introductory first year usd: 100.8 · +3 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.
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.
Keep researching
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Feedback
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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.