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CANSLIM & Growth

PEAD — Internal EPS Beat (Post-Earnings Drift)

PEAD — Internal EPS Beat (Post-Earnings Drift) is a CANSLIM & Growth 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

Post-Earnings Announcement Drift (PEAD) is one of the most robust and well-replicated anomalies in empirical finance: stocks that report strong earnings surprises tend to drift upward for 40 to 60 trading days following the announcement as the market gradually absorbs and reprices the information. In developed markets, PEAD is typically measured against analyst consensus estimates. In the Indian mid and small cap universe, analyst coverage is sparse and consensus estimates are often unavailable or unreliable. This screener sidesteps that limitation by using the company's own prior-year quarter as the benchmark — a strong internal YoY EPS beat (>25%) is treated as a proxy for an earnings surprise. The 3-quarter average trend metric ensures the signal is not a one-off aberration from a low base, confirming that the earnings acceleration is real and sustained.

The rule, step by step

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

Earnings Beat Signal

  • EPS Growth YoY (Quarter) ≥ 25

Post-Earnings Drift Setup

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

Hard excludes

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

Ranked by EPS Growth YoY (Quarter), highest first.

The figures it uses

EPS Growth YoY (Quarter)

Used in a condition
Formula
(Latest quarter EPS − same quarter a year earlier) ÷ that earlier EPS × 100, earlier EPS positive
Input fields
eps
Source of record
FinEdge · /api/v1/financials/{symbol}?statement_code=pl&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

Market Cap

Hard exclude input
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

What each figure means

EPS YoY Growth — Latest Quarter (%)

Year-over-year percentage change in EPS for the most recently reported quarter, computed as (eps_latest_qtr / eps_same_qtr_prior_year - 1) * 100. Uses continuing operations EPS only — eps_continuing after stripping profitLossFromDiscontinuedOperationsAfterTax per CLAUDE.md.

High is better

EPS — Latest Quarter (₹)

Absolute EPS (earnings per share in ₹) for the most recently reported quarter, using continuing operations EPS from FinEdge quarterly financials.

High is better

EPS YoY Growth — 3-Quarter Average (%)

Simple average of YoY EPS growth rates across the last three reported quarters, using continuing operations EPS for each quarter. Computed as mean(eps_yoy_growth_q1, eps_yoy_growth_q2, eps_yoy_growth_q3) where q1 is the latest quarter.

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.

  • EPS Growth YoY (Quarter) ≥ 25—

Enter values to begin

How sensitive is it?

How many stocks pass if this threshold were set differently. Counts only; no stocks are named.

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

  • 5-day IC -0.120 · signal date 2026-10-14 · n 4447
  • 22-day IC -0.061 · signal date 2026-09-12 · n 3840

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.