"Screening" or selecting stocks based on certain metrics is an essential process in portfolio creation. It will help you
-discover new stocks - have a more objectif approach to the decision making process - save time.
Here are some free screeners available:
Finviz is one of the most widely used screeners as it provides a wide range of filters along with news related to the stocks you are looking for. It is often used by professional traders as the screening process is quick and user-friendly.
For $24.96/month you will have access to backtesting and portfolio creation tools.