S&P 400 rebalance candidate screen

Additions to the S&P MidCap 400 are made at the discretion of the S&P Dow Jones Indices index committee, and the methodology says in its own words that meeting every criterion does not guarantee inclusion. So this page does not predict a committee decision. It applies each published entry rule to every company we track, one rule at a time, and publishes the companies that clear all of them, which is the strongest claim the published rules support.

The figures come from primary sources: company market value and liquidity from settled closing prices and volumes, earnings and public float from the company's own SEC filings, and listing exchange and industry classification from the filings too. Every rule on every card shows the figure it was judged on and the bar it was judged against, so a verdict can be checked rather than trusted.

A rule reports one of four outcomes, and the difference between the last two is the whole point. Pass means the figure was read and it clears the bar. Fail means the figure was read and it does not. Not evaluated means a figure the rule needs could not be read, which is a fact about our data and not about the company, so no verdict is reached at all. Not applied means the rule exists in the methodology and we have no way to test it, so it is named on the page and left out of the verdict rather than quietly counted as passed.

The first list is the companies outside the S&P 400 that clear every published entry rule. The second is current members whose own figures no longer clear one, which is a watchlist and not a deletion notice: this index does not remove a company for failing the entry rules, and most real deletions are mergers and acquisitions.

A company that could not be measured is listed in its own bucket and appears in no other list. A figure we cannot read is not evidence about a company, so it never counts as a pass and never counts as a failure.

There is no fixed reconstitution date. Share counts and float are refreshed quarterly, and changes happen through the year, including promotions into the S&P 500 and demotions from it, which the committee treats as ordinary migrations rather than deletions.

Scoring runs once per Eastern trading day, from settled closing prices and the filings on file that morning. Every model revision is immutable, so a new model may append a higher revision for that trading day without erasing what the earlier model said. Readers use the highest revision, while every published answer remains available for grading.