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The Icahn Screener

"The CEO's job is to maximize shareholder value."

— Carl Icahn

Carl Icahn's Philosophy

Carl Icahn is an activist investor who seeks companies trading below their true value. Unlike other investors who wait for change, Icahn forces change by acquiring large stakes and demanding board representation.

Key Principles

  • Asset Value: Buy companies worth more than their stock price
  • Activism: Force management to unlock shareholder value
  • Change Catalyst: Look for companies that need shaking up
  • Cash Rich: Prefer companies with cash on balance sheet
  • Stubborn Persistence: Willing to fight long battles

💡 Did You Know?

Icahn's famous battles include Yahoo, Motorola, and Apple. His investment in Netflix in 2012 returned over 1,000% when he sold in 2015.

Screener Criteria

Price to Book
< 1.0
Trading below assets
Free Cash Flow
Positive
Cash generation
Cash Position
Strong
Balance sheet strength
Underperformance
Yes
Vs sector/market
Institutional
< 60%
Ownership concentration

⚡ Analyze Any Stock

Enter a ticker symbol to see how it measures up against Icahn's criteria

Try: INTC, BMY, WDC, XRX, HPQ, or any US stock ticker

Example Results

Companies matching Icahn's criteria (for educational purposes only)

📚 Educational Data Updated: Delayed data for learning purposes
Company Ticker P/B Cash Issues Potential
Intel
Semiconductors		 INTC 0.8 $25B Behind in AI chips High
Bristol-Myers
Pharmaceuticals		 BMY 0.9 $12B Patent cliffs Moderate
Western Digital
Data storage		 WDC 0.7 $2B Cyclical downturn High
Meets Criteria
Below Threshold
High Strong activist potential
← Back to Screeners Learn More About Icahn

Deep Dive: Understanding Icahn's Criteria

⚡ Activist Investing Strategy

Icahn doesn't just buy stocks and wait—he actively forces change to unlock value:

  • Board Representation: Gain seats to influence decisions
  • Asset Sales: Force sale of underperforming divisions
  • Management Changes: Replace ineffective executives
  • Stock Buybacks: Push for return of capital to shareholders
  • Strategic Alternatives: Explore mergers or acquisitions

📊 Asset Value vs Market Price

The core of Icahn's strategy is finding the disconnect between price and value:

  • Book Value: Net assets minus liabilities on the balance sheet
  • P/B Ratio: Stock price divided by book value per share
  • Icahn's Target: P/B < 1.0 means trading below liquidation value
  • Catalyst Needed: Why is it cheap? What will change that?
  • Margin of Safety: Assets provide downside protection

🏆 Famous Icahn Battles and Successes

Icahn's most notable activist campaigns that created massive returns:

  • Netflix (2012): $321M investment, sold for $1.6B+ (400%+ gain)
  • Apple (2013-2016): Pushed for massive buyback program
  • Herbalife: Multi-year battle vs Ackman, Icahn won big
  • Time Warner: Pushed for AOL spinoff, created billions in value
  • TWA (1980s): The original "corporate raider" playbook