Value (low P/E)
The cheapest profitable companies measured by P/E.
2023-04-03 to 2026-11-06, 100,000 EUR to 94,681 EUR, after 941 EUR in trading costs. On average 10.0 stocks held; the portfolio is turned over 2.6 times a year.
This strategy uses annual report figures, which our data has from 2023, so its results start then rather than ten years back.
How it works
Every quarter, buy the ten liquid, profitable companies with the lowest price relative to earnings in their latest annual report.
The idea
Cheap stocks have beaten expensive ones over long periods, as the market overreacts to bad news. Some are cheap for good reason: earnings about to fall, often in cyclical sectors.
Equity (EUR)
Year by year
| Year | Value (low P/E) | Benchmark | Difference |
|---|---|---|---|
| 2026 (part of year) | −11.0% | −0.9% | −10.1% |
| 2025 | +20.2% | +21.1% | −0.8% |
| 2024 | −14.0% | −0.7% | −13.3% |
| 2023 (part of year) | +2.9% | −0.0% | +2.9% |
Backtests are simulations on historical data, not investment advice. Past results don't guarantee future returns.