[aaavl2821]

There's a sort of common strategy that uses EV / FCF (or something like that) as a metric for cheapness and ROIC as a metric for "good" businesses (to avoid value traps). I believe it has done pretty well

[acconrad]

It's the Magic Formula (EV/EBIT and ROIC) and it has not always performed well:

https://seekingalpha.com/article/4116677-greenblatts-magic-w...