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5 Best Free Stock Analysis Tools for Investors

A tremendous amount of free stock research and analysis tools are available online.

Best Free Stock Analysis and Research

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It's best to do your homework before you pull the trigger on a stock option.

The U.S. stock market is off to a great start in 2024. Through Feb. 23, both the S&P 500 and the Nasdaq-100 are up more than 7% year to date (YTD). The Dow Jones Industrial Average is up nicely as well, though not as dramatically. That well-known index has gained just over 3% YTD.

You may be thinking about taking money off the sidelines and investing in this red-hot market. If you have a long-term time horizon, that's probably a good idea. The equities markets go up and down, but historically, good quality stocks tend to appreciate over time.

Before you pull the trigger on that stock you've got your eye on, you need to do a little homework first. It's smart to review past performance, become familiar with company fundamentals , learn about management and get an independent, third-party opinion before you place a buy order.

The problem is, high-quality stock analysis tools and professional research can be very expensive. Where can a retail investor go for high-level stock research and helpful analysis tools without breaking the bank?

Thankfully, there are plenty of investing resources that any investor can access for free. Here are some of the best places to conduct your equity research at no cost to you:

• Your online broker.
• TradingView.
• Morningstar at the public library.
• S&P Global Market Intelligence.

Your Online Broker

Most brokerage platforms provide their clients with reasonable access to their proprietary equity research as well as valuable analysis tools such as charting and backtesting utilities. Generally, the larger and more established the broker, the better the research. You can expect excellent quality research, tools and advice to be included on platforms like E*Trade, which is owned by Morgan Stanley (ticker: MS ), TD Ameritrade, owned by Charles Schwab Corp. ( SCHW ) and Merrill Edge, owned by Bank of America Corp. ( BAC ), and the online brokerage of Charles Schwab Corp. ( SCHW ), which includes features from the recently acquired TD Ameritrade. Popular online and app-based brokers like Interactive Brokers Group Inc. ( IBKR ) and Robinhood Markets Inc. ( HOOD ) get high marks in this department as well.

Broker-provided research reports are usually only one or two pages long and are well worth reading. You'll also find easy-to-access tools like stock screeners and news feeds as well.

Just log on to your account and look for a tab or button that says "research." Most systems are designed to be highly intuitive and user-friendly. If you run into difficulty accessing their tools or research, just contact customer service via chat, email or phone.

Did you know that a public company's financial filings and virtually all other government-mandated reports are public information and can be accessed by anyone, at any time free of charge? It's true. And it makes the Securities and Exchange Commission (SEC) an excellent free resources for stock research.

The SEC doesn't publish research reports or give opinions on stocks, but through its Electronic Data Gathering, Analysis and Retrieval System, called EDGAR for short, it does catalog and provide free access to every document a public company files with that regulatory agency.

Want to know a stock's revenue, profit, expenses or cash flow for the latest quarter or for the last few decades? Are you curious about the CEO's compensation? It's all on EDGAR for you to download and view, and it's very easy to find. Just navigate over to the SEC's website and click on the "filings" tab. From there, page down to the EDGAR - Search and Access . There you can navigate to a search that works for you, and an incredible wealth of information is available with a few clicks of your mouse.

TradingView

There is a category of investment analysis websites broadly called charting platforms. That name, however, is insufficient in light of all they offer and all the free investing tools they provide. With more than 50 million users, TradingView is among the most popular charting and investing platforms on the internet.

TradingView is a comprehensive combination of charting, analysis and research tools. All members have access to breaking news, historical investment data and the site's social network. It offers premium subscriptions for a reasonable fee, but investors can conduct a surprising amount of in-depth research with basic access which is available for free.

You can view customizable charts with multiple layers of pricing, volume and trend data , you can screen stocks by market capitalization, stock market sector and other criteria, and you can develop your own strategies and ideas and test them in various hypothetical situations. Beyond the research capabilities, TradingView offers an opportunity to communicate and learn from other investors on the platform.

It will ask you to open an account by registering with an email and password, but access isn't temporary or on a trial basis. You can use the many free tools for as long as you want and upgrade to premium only when you're ready.

Morningstar at the Public Library

A standard library card can be your key to an incredible amount of free market research. Many public libraries around the country maintain a premium subscription to Morningstar as well as other professional investment research outlets. Like almost all public library resources, Morningstar equity research is free to registered members.

Check with your local or state library system to see if it has Morningstar. While you're at it, look for other subscription-based research companies like CFRA or Zacks. Chances are they will have one or more. Once you've confirmed it has what you're looking for, dust off your old library card – or apply for a new one for free – and start browsing the catalog of investment resources.

In most cases, you won't even have to visit a physical library branch. Modern libraries offer members access to Morningstar online at no additional cost. You can download detailed financial and analyst reports, use the available portfolio and stock screening tools, and benefit from the educational resources Morningstar produces, all for free.

S&P Global Market Intelligence

S&P Global is one of the most respected research firms in the world. Institutional investors pay tens of thousands of dollars a year for premium access to its S&P Capital IQ research and trading platform. Those exorbitant price levels are out of reach for most retail investors but, thankfully, S&P offers many market insights and research online for free.

The Research & Insights page of S&P's website is loaded with articles, posts, notes and news that can be an invaluable resource to the small investor. Some information requires you have an account, but you can create one for free to access those reports. The site is updated several times a week so the data and information is always current.

You'll find sophisticated but accessible market intelligence on sectors from tech to health care and everything in between. The page has a search bar in the upper right corner so you can quickly find exactly what you're looking for.

Click on the "subscribe now" button and you'll be directed to the S&P newsletter subscription hub. There you can sign up for any of dozens of professional quality investment industry newsletters on a wide variety of subjects. Free research will be delivered to your email inbox on a monthly basis at no cost and with no obligation.

Best Long-Term Stocks to Buy Now

Glenn Fydenkevez Feb. 12, 2024

Tags: investing , stock market , money , financial literacy , Morgan Stanley , TD Ameritrade , Charles Schwab , Bank of America , Interactive Brokers Group

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