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Balance Sheet & Debt

Increasing CFO (3-Year Trend)

Increasing CFO (3-Year Trend) is a Balance Sheet & Debt screen. It checks every NSE-listed stock against 1 condition computed from nightly data, after excluding heavily pledged promoters and very small market caps. This page explains the rule, each figure and its source. It lists no stocks and is not advice.

What it does and why

Accounting earnings are an opinion; cash flow from operations is a fact. Businesses with creative accounting — channel stuffing, aggressive revenue recognition, capitalising recurring expenses — can report strong PAT growth while the business is actually consuming cash. The CFO growth screen is a Buffett-style filter: it asks whether the company's profits are translating into real, spendable cash at the business level, and whether that cash generation is improving over time. A single year of strong CFO could be a working capital release or a one-time collection; three consecutive years of growth in operating cash flow is structurally meaningful. This screener is intentionally distinct from the point-in-time FCF Yield screen — yield tells you today's cash return, while this screen tells you whether the cash machine is getting stronger.

The rule, step by step

A stock must satisfy every condition below. Conditions are grouped under the pillar they test.

Cash Quality

Described in the philosophy; not a pass/fail condition in the current rule

Trend

  • Operating Cash Flow Rising is true

Hard excludes

  • Promoter pledge above 30% of the promoter's holding
  • Market cap below ₹500 crore
Passes the screen

Ranked by Market Cap, highest first.

The figures it uses

Operating Cash Flow Rising

Used in a condition
Formula
True when operating cash flow rose in each of the last two year-on-year steps (three annual statements)
Input fields
cashFlowsFromOperatingActivities
Source of record
FinEdge · /api/v1/financials/{symbol}?statement_code=cf&period=annual
Refresh
Recomputed nightly (06:30 IST job); rows older than 3 days are excluded from screens

Operating Cash Flow

Shown with results
Formula
Cash flows from operating activities, latest annual cash-flow statement
Input fields
cashFlowsFromOperatingActivities
Source of record
FinEdge · /api/v1/financials/{symbol}?statement_code=cf&period=annual
Refresh
Recomputed nightly (06:30 IST job); rows older than 3 days are excluded from screens

Market Cap

Used for ranking
Formula
Close × paid-up equity shares ÷ 10,000,000 (₹ crore)
Input fields
close, paidUpEquityShares
Source of record
Upstox · public historical candles, NSE_EQ|{ISIN} (no auth)FinEdge · /api/v1/daily-quotes/{symbol} (fallback)FinEdge · /api/v1/shareholdings/summary/{symbol}?period=quarterly
Corporate actions
Adjusted for corporate actions before use
Refresh
Recomputed nightly (06:30 IST job); rows older than 3 days are excluded from screens

Promoter Pledge

Hard exclude input
Formula
Pledged shares as a share of the promoter's own holding: pledgedSharesPct ÷ promoter holding × 100; blank when the quarter is not listed
Input fields
pledgedSharesPct, promoter holding
Source of record
FinEdge · /api/v1/shareholdings/summary/{symbol}?period=quarterlyFinEdge · /api/v1/shareholdings/pattern/{symbol}?period=quarterly
Refresh
Recomputed nightly (06:30 IST job); rows older than 3 days are excluded from screens

What each figure means

CFO Latest Year (₹ Cr)

Cash flow from operations for the most recent completed fiscal year, in Indian crore rupees. Sourced from the FinEdge cash flow statement (statement_code=cf).

High is better

CFO YoY Growth Year 1 (%)

Percentage change in operating cash flow from the year before the latest year to the latest year. Computed as (CFO_latest / CFO_prior_year - 1) × 100.

High is better

CFO YoY Growth Year 2 (%)

Percentage change in operating cash flow from two years ago to one year ago. Computed as (CFO_prior_year / CFO_two_years_ago - 1) × 100.

High is better

CFO 3-Year CAGR (%)

Compound annual growth rate of operating cash flow over the past three fiscal years. Computed as (CFO_latest / CFO_three_years_ago)^(1/3) - 1, expressed as a percentage.

High is better

Try the rule

Type hypothetical values to see which conditions they satisfy. These are not real stocks and nothing here is stored.

  • Operating Cash Flow Rising is true—

Enter values to begin

A worked example

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Evidence

What the harness measured

no_verified_figureNot yet tested

We have not measured this screen yet, so there is no record to explain.

Live monitoring

Not yet testable — 0 of 6 points needed to chart a rolling information coefficient.

  • 5-day IC -0.051 · signal date 2026-10-14 · n 4447

This is a historical, statistical measurement produced by FINOME TECHNOLOGIES PVT LTD's research harness on past data. It is not a prediction, and past results do not indicate future results. The universe is today's Nifty 500 constituents, so the sample is affected by survivorship bias. It describes how a screen's selections behaved in the past and does not constitute investment advice or a recommendation.

Run this screen

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Rule version 1.0.0

Questions

How is this screen calculated?
Each stock is tested against 1 condition using figures computed from exchange prices and company filings, adjusted for corporate actions. The rule is versioned; this page shows version 1.0.0.
How often does the screen update?
The figures are recomputed once each trading day after the nightly compute. A stock whose figures are more than three days old is left out rather than shown stale.
Is this investment advice?
No. This is educational material describing a screening method. It does not recommend any security and does not consider your circumstances.
Educational use only — GoQuant is a research tool. This page explains a screening method and is not a recommendation. Investment advice is provided by FINOME TECHNOLOGIES PVT LTD (AltQube), SEBI-registered Investment Adviser, registration no. INA000018373, under a signed advisory agreement and after a risk profile. Past performance is not indicative of future results.