Hangzhou First Applied Material Co., Ltd.

A middle-of-the-pack grower that's turning around. Earnings are outgrowing revenue, a sign of improving margins and operating leverage. Quality of growth is high even if the top line is moderate. The strongest point: after shrinking over the last 3 years, revenue is set to grow 10%/yr from here. The one thing to watch: revenue has shrunk over the past 3 years.

Returns rank poorly over both the short and long run, and the price is still falling. Momentum is firmly negative — catching this is a bet against the tape, not with it. Wait for a base to form. The one thing to watch: the multi-year record is weak.

A fairly-priced stock. A mix of reasonable multiples and yields without extreme cheapness. Can work in diversified value portfolios, but not a standout bargain. The strongest point: its forward P/E of 20x is 28% below that median, and its three-year P/E of 16x is 43% below. The one thing to watch: the dividend is thin.

A middle-of-the-pack business on quality. Margins, returns and balance sheet sit around the market average. Workable, but not a standout on business quality. The strongest point: best on free cash flow margin at 13%, better than 60% of companies worldwide. The one thing to watch: profits are rare: the company is mostly loss-making.