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The following is a list of stocks that have had negative returns over the last year. All of these stocks are more efficient than their industry competitors, as measured by trailing twelve month (TTM) receivables turnover, inventory turnover and asset turnover ratios.

We last wrote about this screen on September 16, 2010. On that day, the screen produced 15 companies. Since then, 9 out of 15 companies mentioned in that article have outperformed the S&P 500 index (a success rate of 60.00%). The screen averaged a return of 13.05% vs. an index return of 10.29%. Click here to access a full breakdown of the screen's past performance.

We won't go into a detailed discussion about the other fundamentals affecting these companies. That's not the goal here. Treat this list as a starting point for your own analysis.

Industry averages and efficiency data sourced from Reuters.com. Full analysis below.

Interactive Chart: Press Play to compare analyst ratings for the top 5 stocks mentioned below.


The list has been sorted by annual return, from worst to best.

1. Petroleo Brasileiro (NYSE:PBR): Oil & Gas Drilling & Exploration Industry. Market cap of $147.4B. TTM Acc Receivable at 13.25 vs. industry avg. at 6.71. TTM Inventory Turnover at 5.97 vs. industry avg. at 3.71. TTM Asset Turnover at 0.6 vs. industry avg. at 0.52. Short float at 0.54%, which implies a short ratio of 0.63 days. The stock has lost -30.2% over the last year.

2. NRG Energy, Inc. (NYSE:NRG): Electric Utilities Industry. Market cap of $4.62B. TTM Acc Receivable at 9.07 vs. industry avg. at 6.61. TTM Inventory Turnover at 12.5 vs. industry avg. at 11.46. TTM Asset Turnover at 0.34 vs. industry avg. at 0.22. Short float at 4.75%, which implies a short ratio of 4.46 days. The stock has lost -23.83% over the last year.

3. BP plc (NYSE:BP): Major Integrated Oil & Gas Industry. Market cap of $135.43B. TTM Acc Receivable at 9.19 vs. industry avg. at 6.71. TTM Inventory Turnover at 13.48 vs. industry avg. at 3.71. TTM Asset Turnover at 1.21 vs. industry avg. at 0.52. Short float at 0.22%, which implies a short ratio of 0.76 days. The stock has lost -20.85% over the last year.

4. Nokia Corporation (NYSE:NOK):
Communication Equipment Industry. Market cap of $36.74B. TTM Acc Receivable at 5.43 vs. industry avg. at 4.89. TTM Inventory Turnover at 12.37 vs. industry avg. at 6.2. TTM Asset Turnover at 1.15 vs. industry avg. at 0.77. Short float at 1.78%, which implies a short ratio of 2.56 days. The stock has lost -17.77% over the last year.

5. FirstEnergy Corp. (NYSE:FE): Electric Utilities Industry. Market cap of $10.87B. TTM Acc Receivable at 7.53 vs. industry avg. at 6.61. TTM Inventory Turnover at 13.95 vs. industry avg. at 11.46. TTM Asset Turnover at 0.38 vs. industry avg. at 0.22. Short float at 9.49%, which implies a short ratio of 7.67 days. The stock has lost -17.65% over the last year.

6. Aluminum Corporation Of China Limited (NYSE:ACH): Aluminum Industry. Market cap of $12.3B. TTM Acc Receivable at 58.45 vs. industry avg. at 11.15. TTM Inventory Turnover at 4.87 vs. industry avg. at 1.34. TTM Asset Turnover at 0.74 vs. industry avg. at 0.23. Short float at 1.88%, which implies a short ratio of 9.81 days. The stock has lost -17.64% over the last year.

7. Exelon Corp. (NYSE:EXC): Diversified Utilities Industry. Market cap of $26.48B. TTM Acc Receivable at 10.09 vs. industry avg. at 6.61. TTM Inventory Turnover at 13.18 vs. industry avg. at 11.46. TTM Asset Turnover at 0.36 vs. industry avg. at 0.22. Short float at 2.09%, which implies a short ratio of 3.01 days. The stock has lost -17.56% over the last year.

8. PPL Corporation (NYSE:PPL): Electric Utilities Industry. Market cap of $12.2B. TTM Acc Receivable at 14.59 vs. industry avg. at 6.61. TTM Inventory Turnover at 17.36 vs. industry avg. at 11.46. TTM Asset Turnover at 0.34 vs. industry avg. at 0.22. Short float at 1.66%, which implies a short ratio of 1.86 days. The stock has lost -16.5% over the last year.

9. Quest Diagnostics Inc. (NYSE:DGX): Medical Laboratories & Research Industry. Market cap of $8.7B. TTM Acc Receivable at 8.34 vs. industry avg. at 4.11. TTM Inventory Turnover at 55.92 vs. industry avg. at 19.9. TTM Asset Turnover at 0.88 vs. industry avg. at 0.62. Short float at 2.42%, which implies a short ratio of 2.77 days. The stock has lost -13.16% over the last year.

10. Dish Network Corp. (NASDAQ:DISH): CATV Systems Industry. Market cap of $8.33B. TTM Acc Receivable at 15.31 vs. industry avg. at 4.86. TTM Inventory Turnover at 18.21 vs. industry avg. at 9.2. TTM Asset Turnover at 1.38 vs. industry avg. at 0.39. Short float at 4.45%, which implies a short ratio of 3.55 days. The stock has lost -12.48% over the last year.

11. Total SA (NYSE:TOT): Major Integrated Oil & Gas Industry. Market cap of $116.62B. TTM Acc Receivable at 8.6 vs. industry avg. at 6.71. TTM Inventory Turnover at 6.89 vs. industry avg. at 3.71. TTM Asset Turnover at 1.02 vs. industry avg. at 0.52. Short float at 0.11%, which implies a short ratio of 0.62 days. The stock has lost -10.82% over the last year.

12. The AES Corporation (NYSE:AES): Electric Utilities Industry. Market cap of $8.98B. TTM Acc Receivable at 6.7 vs. industry avg. at 6.61. TTM Inventory Turnover at 20.65 vs. industry avg. at 11.46. TTM Asset Turnover at 0.4 vs. industry avg. at 0.22. Short float at 0.78%, which implies a short ratio of 1.24 days. The stock has lost -10.6% over the last year.

13. L-3 Communications Holdings Inc. (NYSE:LLL): Aerospace/Defense Products & Services Industry. Market cap of $8.08B. TTM Acc Receivable at 12.33 vs. industry avg. at 6.85. TTM Inventory Turnover at 48.01 vs. industry avg. at 3.23. TTM Asset Turnover at 1.03 vs. industry avg. at 0.48. Short float at 3.4%, which implies a short ratio of 4.75 days. The stock has lost -10.27% over the last year.

14. Abbott Laboratories (NYSE:ABT): Drug Manufacturer. Market cap of $73.61B. TTM Acc Receivable at 5.8 vs. industry avg. at 3.35. TTM Inventory Turnover at 4.28 vs. industry avg. at 1.55. TTM Asset Turnover at 0.63 vs. industry avg. at 0.4. Short float at 0.56%, which implies a short ratio of 1.1 days. The stock has lost -8.97% over the last year.

15. Toyota Motor Corp. (NYSE:TM): Auto Manufacturer. Market cap of $121.14B. TTM Acc Receivable at 13.2 vs. industry avg. at 3.84. TTM Inventory Turnover at 12.32 vs. industry avg. at 2.85. TTM Asset Turnover at 0.7 vs. industry avg. at 0.26. Short float at 0.15%, which implies a short ratio of 3.35 days. The stock has lost -8.05% over the last year.

16. United Microelectronics Corporation (NYSE:UMC): Semiconductor Equipment & Materials Industry. Market cap of $8.13B. TTM Acc Receivable at 6.65 vs. industry avg. at 1.48. TTM Inventory Turnover at 8.98 vs. industry avg. at 1.48. TTM Asset Turnover at 0.49 vs. industry avg. at 0.17. Short float at 0.26%, which implies a short ratio of 2.4 days. The stock has lost -7.94% over the last year.

17. Microsoft Corporation (NASDAQ:MSFT): Application Software Industry. Market cap of $233.91B. TTM Acc Receivable at 7.21 vs. industry avg. at 3.6. TTM Inventory Turnover at 10.61 vs. industry avg. at 8.23. TTM Asset Turnover at 0.76 vs. industry avg. at 0.37. Short float at 1.01%, which implies a short ratio of 1.22 days. The stock has lost -6.56% over the last year.

18. Lockheed Martin Corporation (NYSE:LMT): Aerospace/Defense Products & Services Industry. Market cap of $24.79B. TTM Acc Receivable at 7.33 vs. industry avg. at 6.85. TTM Inventory Turnover at 19.77 vs. industry avg. at 3.23. TTM Asset Turnover at 1.27 vs. industry avg. at 0.48. Short float at 2.32%, which implies a short ratio of 2.76 days. The stock has lost -6.1% over the last year.

19. Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk. (NYSE:TLK): Telecom Services - Foreign Industry. Market cap of $17.5B. TTM Acc Receivable at 17.94 vs. industry avg. at 5.55. TTM Inventory Turnover at 42.8 vs. industry avg. at 18.83. TTM Asset Turnover at 0.74 vs. industry avg. at 0.51. Short float at 0.43%, which implies a short ratio of 2.88 days. The stock has lost -5.95% over the last year.

20. Advanced Micro Devices, Inc. (NYSE:AMD): Semiconductor Industry. Market cap of $5.5B. TTM Acc Receivable at 9.71 vs. industry avg. at 1.48. TTM Inventory Turnover at 6.22 vs. industry avg. at 1.48. TTM Asset Turnover at 0.97 vs. industry avg. at 0.17. Short float at 8.48%, which implies a short ratio of 2.19 days. The stock has lost -5.94% over the last year.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 20 Highly Efficient Companies That Are Underperforming