This study used the above five indicators separately to select stocks for investment and evaluates which strategy could produce the higher average returns than the market. SET TRI index was used as a proxy for market returns. The data were from the Securities Exchange of Thailand over the year 2002 to 2012. The five indicators were calculated from the annual financial statements disclosed by the end of February of the following year. Annual returns will be evaluated together with standard deviations. Sharpe ratios2 will be evaluated to compared the performance.