Our growth at right price (GARP) screen for the FTSE All Share index has eight rules, which differ slightly from the seven tests that we use for the FTSE All Small Companies and The FTSE Aim All Share index. This is to make the All Share screen appropriate for larger companies. From the results, where very few large companies rank highly, we can see that the combination of growth and value is presently very hard to find beyond the small cap space.
- The only companies that pass all eight of the FTSE All Share screen tests are Bovis Homes (BVS) – although we always suggest treating housebuilder results with caution as the PEG ratio is less appropriate for this sector – and packaging specialist Macfarlane (MACF). Neither of these are big companies.
- The seven tests designed for small companies are all passed by Ten Entertainment Group (TEG) and Capital Drilling Limited (CAPD) on the All Small index. Five Aim firms get full marks including three precious metals miners, reflecting a popular play on the rising gold price this year.
