The most valuable indicators in the Continental telecom group, according to White, are price to cash flow, dividend yield and price to book.

FORBES: One ratio does not fit all

Its price-to-book ratio of 2.2x and dividend yield of 2.3 percent make it a relatively expensive market.

FORBES: January All-Country Allocation Strategy

In my Greenblatt model, I calculate return on capital and earnings yield in the same ways that Greenblatt lays out in his book.

FORBES: Four Magic Formula Buys