Current Stock Screener via Morningstar

Cash / Total Assets % >= 5
Current Assets ($ mil) - Latest Quarter > Noncurrent Assets ($ mil) - Latest Quarter
Current Ratio - Latest Quarter >= 1.25
Financial Leverage - Latest Quarter <= 3
Cash Return % >= 5
Market Capitalization (mil $) >= 100 & Market Capitalization (mil $) <= 2000
Return on Assets % - Trailing 12 Months, Year 1, Year 2, Year 3 >= 6
Operating Margin % - Year 1, Year 2, Year 3 >= 8
Dividend Yield % > 1
% Below 5-Year High >= 20

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In an effort to always question my thinking and try different approaches to the stock idea generation process, or in this case, enhance/change my stock screener, I think I've found six really solid small cap companies. But it's never enough to just find a great company, because you also have to be able to purchase it at a great price, so the follow up valuation work is just as important.

Hawkins (HWKN): manufactures, blends, and distributes bulk and specialty chemicals in the United States. It operates through two segments, Industrial and Water Treatment.
Est. Intrinsic Value: $34 - Fairly Valued

Cal-Maine Foods (CALM): engages in the production, grading, packaging, marketing, and distribution of shell eggs primarily in the southeastern, southwestern, mid-western, and mid-Atlantic regions of the United States.
Est. Intrinsic Value: $33 - Fairly Valued

American Science & Engineering (ASEI): together with its subsidiary AS&E Global, Inc., engages in the development, manufacture, marketing, and sale of X-ray inspection systems for detection and security screening solutions in the United States and internationally.
Est. Intrinsic Value: $71 - Fairly Valued

Micrel (MCRL): designs, develops, manufactures, and markets high-performance analog power, mixed-signal, and digital integrated circuits (ICs) primarily in North America, Europe, and Asia.
Est. Intrinsic Value: $13 - Undervalued

PetMed Express (PETS): markets non-prescription and prescription pet medications; and other health products for dogs, cats, and horses.
Est. Intrinsic Value: $15 - Undervalued

National Presto Industries (NPK): engages in the production and sale of housewares/small appliances, defense products, and absorbent products in North America. The company operates in three segments: Housewares/Small Appliance, Defense Products, and Absorbent Products.
Est. Intrinsic Value: $115 - Undervalued