What is a Euronext screener?
A stock screener is a filtering tool that scans a universe of stocks and keeps only those that pass a set of quantitative criteria. Applied to Euronext, it should cover the three small-cap segments of the European exchange:
- Euronext Growth — a lighter regulated market, ~225 stocks, typical market cap between €10M and €500M, eligible for the French PEA-PME
- Euronext Access — an unregulated market, ~100 stocks, smaller market caps, low liquidity
- Euronext A/B/C — the main regulated market, large and mid caps
The value added by a screener comes down to two things: the freshness of the data (fundamentals 18 months old are useless for trading) and the precision of the criteria (a P/E calculated on an exceptional result distorts the whole ranking).
On Finviz or Yahoo Finance, fewer than 30% of Euronext Growth stocks have complete fundamental data. The reason: these platforms rely on data aggregators (LSEG, Bloomberg) whose coverage of European small caps is patchy. A screener dedicated to Euronext draws directly on regulatory filings and annual reports.
The 4 pillars of an effective screener
A good Euronext screener is not a list of 20 ratios ticked blindly. It is a hierarchy of filters organised into 4 pillars, applied in order of their discriminating power:
Simulator — estimate the filtered universe
Adjust the thresholds below to estimate the number of stocks that would pass each filter across the 4,120 small caps of the universe (Euronext Growth & Access, London, New York) universe:
Method: the Euronext screener in 5 steps
Define the starting universe
Choose your scope: Euronext Growth only (enough liquidity, PEA-PME eligible), or Growth + Access (more stocks but less liquidity). A minimum market-cap filter of €20M and an average daily volume > €50K is recommended to avoid stocks that are impossible to buy or sell.
Apply the growth filter first
The 3-year revenue CAGR is the most discriminating filter. It quickly eliminates value traps — companies that are cheap because they are declining. Recommended threshold: > 8% for industrial stocks, > 15% for tech/SaaS stocks.
Filter on valuation
Apply EV/EBITDA < 10 to the stocks that passed the growth filter. Note: some sectors (tech, SaaS) have structurally higher EV/EBITDA. Adjust the threshold by sector if your screener allows it.
Check balance sheet strength
Net debt / EBITDA < 2.5 and current ratio > 1.2 eliminate candidates with high financial risk. On Euronext Growth, banks' caution towards small caps makes a solid balance sheet non-negotiable — refinancing can be difficult in times of stress.
Cross-check with price momentum
Distance to the 52-week high < 35% confirms that the market already recognises the quality of the candidate. This filter avoids "falling knives" — stocks that are cheap because sellers dominate. Optional if you are deliberately seeking deeply discounted candidates with strong re-rating potential.
Comparison of screeners available on Euronext
| Screener | Euronext Growth coverage | Regulatory/GAAP data | ML score | PEA-PME filter | Updates |
|---|---|---|---|---|---|
| Screener Small Caps | ✓ 4,120 stocks | ✓ Yes | ✓ XGBoost | ✓ Yes | Daily |
| Generalist broker screeners | ~ Partial | ✗ No | ✗ No | ~ Manual | Daily |
| Market data aggregators | ~ ~60% | ✗ No | ✗ No | ✗ No | Weekly |
| Finviz | ✗ < 20% | ✗ No | ✗ No | ✗ No | Daily |
| Yahoo Finance | ✗ < 30% | ✗ No | ✗ No | ✗ No | Variable |
Advanced criteria: going beyond the P/E
The P/E is the best-known ratio but one of the least reliable for screening European small caps. Its limitations:
- Sensitive to exceptional items (asset disposal, one-off provision) that distort net income
- Not comparable across sectors with different capital intensity
- Unusable for growth companies that invest heavily
The most predictive ML criteria on Euronext Growth according to the model:
Applying "EV/EBITDA < 6" AND "3-year revenue CAGR > 20%" at the same time often yields an empty universe: fast-growing companies are rarely cheap. Except during market corrections, these two filters work against each other on European small caps.
Integrating the screener into an investment strategy
A screener is not a strategy — it is an entry filter into your analysis process. The recommended sequence:
- Quantitative screen → 15–30 stocks selected
- Reading the latest annual report → eliminate candidates with suspicious accounting signals (high accruals, excessive goodwill)
- Governance analysis → shareholder structure, management's track record
- Intrinsic valuation → a simplified DCF or a reasonable exit multiple
- Kelly sizing → position sizing based on conviction and risk
The screener speeds up steps 1 and 2 — it does not replace them. Its real value is making sure you do not miss any opportunity in a universe of 4,120 lightly covered small caps.
4,120 stocks scored daily across the 4 pillars. Customisable filters, public track record.