Why it matters
Deeply out-of-favour names with recovery potential. It is best used as a valuation shortlist, not a buy list: the strongest candidates still need balance-sheet, cash-flow and competitive-position checks.
%20--%3e%3csvg%20width='63.297821mm'%20height='39.29665mm'%20viewBox='0%200%2063.297821%2039.29665'%20version='1.1'%20id='svg8765'%20inkscape:version='1.1%20(c4e8f9ed74,%202021-05-24)'%20sodipodi:docname='OBALogoSingle2.svg'%20xmlns:inkscape='http://www.inkscape.org/namespaces/inkscape'%20xmlns:sodipodi='http://sodipodi.sourceforge.net/DTD/sodipodi-0.dtd'%20xmlns='http://www.w3.org/2000/svg'%20xmlns:svg='http://www.w3.org/2000/svg'%3e%3csodipodi:namedview%20id='namedview8767'%20pagecolor='%23ffffff'%20bordercolor='%23666666'%20borderopacity='1.0'%20inkscape:pageshadow='2'%20inkscape:pageopacity='0.0'%20inkscape:pagecheckerboard='0'%20inkscape:document-units='mm'%20showgrid='false'%20fit-margin-top='0'%20fit-margin-left='0'%20fit-margin-right='0'%20fit-margin-bottom='0'%20inkscape:zoom='1.1759259'%20inkscape:cx='179.85827'%20inkscape:cy='102.04724'%20inkscape:window-width='1920'%20inkscape:window-height='972'%20inkscape:window-x='0'%20inkscape:window-y='27'%20inkscape:window-maximized='1'%20inkscape:current-layer='layer1'%20/%3e%3cdefs%20id='defs8762'%20/%3e%3cg%20inkscape:label='Layer%201'%20inkscape:groupmode='layer'%20id='layer1'%20transform='translate(-31.351095,-50.101677)'%3e%3cpath%20style='fill:none;stroke:%233584e4;stroke-width:3.965;stroke-linecap:square;stroke-linejoin:round;stroke-miterlimit:4;stroke-dasharray:none;stroke-opacity:1'%20d='m%2077.07508,77.78787%2014.84134,8.87817%20V%2052.83397%20L%2034.08359,86.5521%20V%2053.69366%20l%2015.27351,9.31107'%20id='path8388'%20sodipodi:nodetypes='cccccc'%20/%3e%3c/g%3e%3c/svg%3e)
All Discover themes
Discover
Turnaround Candidates
Deeply out-of-favour names with recovery potential.
Turnarounds are high-risk, high-reward: deeply out-of-favour companies where a change of fortune can re-rate the stock. As a proxy this collection screens for names trading 40%+ below their 52-week high; use the Risk rating heavily — many will not recover.
What to check next
Look for durable margins, sensible debt, cash conversion and whether the market is pricing in a temporary problem or a permanent decline.
Main risk
This is a proxy screen, so treat the result as a starting point. Cheap or high-quality screens can still contain value traps when earnings are peaking, accounting quality is poor or the business model is losing relevance.
Showing the 40 largest of 956 — sort or filter to explore the rest.
- RewardRisk
- RewardRiskYield5.8%
- RewardRisk
- RewardRisk
- RewardRisk
- RewardRiskYield1.3%
- RewardRiskYield0.2%
- RewardRiskYield53.2%
- RewardRiskYield0.1%
- RewardRisk
- RewardRiskYield30.6%
- RewardRisk
- RewardRisk
- RewardRisk
- RewardRiskYield0.5%
- RewardRiskYield2.4%
- RewardRisk
- RewardRisk
- RewardRiskYield2.4%
- RewardRisk
- RewardRisk
- RewardRisk
- RewardRiskYield10.8%
- RewardRiskYield1.3%
- RewardRisk
- RewardRisk
- RewardRiskYield3.6%
- RewardRiskYield0.9%
- RewardRiskYield4.3%
- RewardRisk
- RewardRiskYield0.3%
- RewardRisk
- RewardRiskYield3.0%
- RewardRiskYield0.0%
- RewardRiskYield6.5%
- RewardRisk
- RewardRiskYield4.0%
- RewardRiskYield0.1%
- RewardRisk
- RewardRiskYield68.8%
Related collections
Frequently asked questions
What is the Turnaround Candidates collection?
Deeply out-of-favour names with recovery potential. It currently holds 956 stocks, each rated by Openbook's Reward and Risk scores. Turnarounds are high-risk, high-reward: deeply out-of-favour companies where a change of fortune can re-rate the stock.
How are Turnaround Candidates stocks selected?
Constituents are chosen by a rules-based screen over the full UK and US common-stock universe, then ranked by market capitalisation. This is a proxy screen — see the description above for the exact criteria and its limitations.
How often is the Turnaround Candidates list updated?
It is rebuilt from live market data, so the constituents and their rankings update as prices and company fundamentals change — there is no fixed, hand-edited list.
How should I use the Reward and Risk ratings?
Openbook's Reward rating combines a stock's growth, momentum, profitability and valuation into a single 0–100 score, and the Risk rating scores financial strength, volatility and size. Use them to compare names within this theme — broadly, a higher Reward alongside a lower Risk is more attractive. They are quantitative research signals, not investment advice.
Openbook Reward and Risk ratings and factor scores are quantitative signals for research, not investment advice. Data may be delayed. Some US-listed names carry partial factor coverage.