# High-Growth, Cash-Generative Large Caps on Sale
**Query:** US large-cap stocks with revenue growth above 15%, positive free cash flow and forward P/E below 25
**Data as of:** 2026-10-08

45 US large-caps (>= $10B) with 15%+ YoY revenue growth, positive free cash flow, and forward P/E below 25x — led by semis/storage hardware and energy, ranked by revenue growth.

### Valuation & Growth Quality Context

**Growth at a Reasonable Price: 45 names clearing 15%+ revenue growth, positive FCF, and a sub-25x forward P/E.**

This screen sits at the intersection of two things the market is currently charging a premium for — durable top-line growth and self-funded cash generation — while refusing to pay up for either. Data as of 2026-10-08.

**What stands out**
- **The mega-cap "cheap growth" pocket is real but narrow.** Only three names above $1T clear the filter (NVDA ~18x forward, AVGO ~18x, META ~21x). The market pays a discount on earnings-based multiples precisely because these are the largest, most widely owned, and most consensus-crowded growth franchises. NVDA and MU screen as the highest-quality combinations of growth, FCF margin, and technical structure.
- **Semis and hardware dominate the growth column.** CRDO (+206%), MU (+49%), WDC (+51%), STX (+39%) and SMCI (+47%) share a memory/storage/AI-interconnect cycle. That cycle's growth is real but *peak-cyclical* — the forward P/E is low partly because the "E" is an elevated earnings base. WDC's ~12x forward on +51% growth and STX's ~14x forward at nearly 14x EV/EBITDA show the market explicitly refusing to capitalize boom earnings.
- **Energy is the largest sector cluster** (EXE, EQT, OKE, LNG, AR, ENB). Growth here is largely acquisition- and price-driven (EXE's headline growth reflects the Expand/Chesapeake combination; EQT similarly), which inflates the top line without implying organic compounding. Free cash flow yields are strong, but the "growth" label deserves scrutiny.
- **Free cash flow quality varies sharply.** The strongest FCF margins and yields sit in financials and midstream — COF, GEN, KEY, OKE, LNG, EQT — while SMCI, STX, HL and WSE show thin FCF relative to market cap. Financial-sector FCF is a noisy metric and should be read alongside returns on equity rather than as a cash-conversion signal.
- **Bank and credit growth is accounting-sensitive.** KEY (+63%), COF (+37%) and SHG (+21%) revenue growth reflects net interest income normalization at high absolute rate levels; that is a cyclical tailwind that fades as the curve normalizes, not a durable growth rate.
- **Technical context is mixed.** Several of the highest-growth names (APP, ALNY, SE, DKS, GEN) are in downtrends or deep drawdowns — exactly how a valuation screen surfaces "cheap for a reason" setups. Names in confirmed uptrends with strong momentum scores (NVDA, MU, APH, SMCI, META) offer better confirmation.

**Caveats on the screen.** QXO was excluded: its reported revenue growth is an artifact of a business-model transition from a tiny prior-year base, not operational growth. Revenue growth for acquisition-led names (EXE, EQT, OKE, JHX, SHG, WSE) is not organic. A low forward P/E in a cyclical is often not a safety cushion — it frequently means earnings are peaking, so the multiple and the cycle move together.

### Large-Cap Growth at a Reasonable Price

| Symbol | Company | Sector | Industry | Market Cap | Revenue Growth (YoY) | Free Cash Flow | FCF Yield | Forward P/E | P/E (TTM) | Net Margin | EV/EBITDA | 1M Return | 6M Return | Technical Setup | Momentum Score | Comments |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| CRDO | Credo Technology Group Holding | Information Technology | Semiconductors | 3.982e+10 | 205.68% | 4.07e+08 | 0.98% | 23.23 | 84.41 | 35.37% | 87.534 | 26.17% | 96.29% | Sideways channel (39%), Uptrend | 98.7 | Purest AI-interconnect play — its active electrical cables and optical DSPs sit inside hyperscaler rack builds, so growth is tied to the pace of scale-out deployments rather than consumer demand. Flaw: extreme customer concentration in a handful of hyperscalers, and an EV/EBITDA near 90x means any order pause gets punished hard. |
| EXE | Expand Energy Corporation | Energy | Oil & Gas E&P | 2.057e+10 | 186.28% | 1.839e+09 | 9.01% | 10.01 | 7.66 | 15.00% | 3.837 | -8.03% | -9.61% | Downtrend | 28.1 | Growth is almost entirely the Chesapeake combination rather than organic volume; the merged entity is now the largest US gas producer, making it a leveraged call on gas prices rather than a compounding business. Cost synergies are the real story to watch. |
| APP | Applovin Corporation | Communication Services | Advertising Agencies | 9.41e+10 | 69.99% | 3.966e+09 | 4.20% | 13.34 | 21.55 | 60.83% | 19.723 | -8.18% | -26.12% | Downtrend | 86.9 | Its ad-tech auction is a genuinely high-margin machine, but those margins carry regulatory and app-store platform risk, and hedge-fund-like concentration in the shareholder base amplifies drawdowns. The discount to peers reflects doubt about durability of the margin, not the growth. |
| RDDT | Reddit, Inc. | Communication Services | Internet Content & Information | 3.01e+10 | 69.40% | 6.842e+08 | 2.33% | 16.25 | 36.39 | 24.05% | 33.276 | 6.85% | 13.07% | Downtrend | 91.1 | Advertising scale is inflecting while the data-licensing business adds a high-margin, search-AI-driven revenue layer. User-growth deceleration and heavy AI infrastructure spending are the swing factors; profitability is still early-stage. |
| NVDA | NVIDIA Corporation | Information Technology | Semiconductors | 5.565e+12 | 65.47% | 1.026e+11 | 1.79% | 17.95 | 35.3 | 55.60% | 25.933 | 3.16% | 25.61% | Uptrend | 99.9 | Rare case of the largest market cap in the market trading at a modest forward multiple — the bear case is customer concentration among a few hyperscalers and the notion that AI capex is peaking; the bull case is that its software/CUDA moat keeps pricing power intact through the cycle. |
| ALNY | Alnylam Pharmaceuticals, Inc. | Health Care | Biotechnology | 3.004e+10 | 65.19% | 4.654e+08 | 1.55% | 17.84 | 39.12 | 8.45% | 29.781 | -12.97% | -30.11% | Downtrend | 32.8 | Revenue ramp comes from its RNAi label expansions, which are royalty- and partner-driven and thus high-margin with limited incremental cost. Binary clinical/competitive risk in the cardiomyopathy franchise is the reason the multiple sits below biotech growth peers. |
| EQT | EQT Corporation | Energy | Oil & Gas E&P | 3.311e+10 | 63.92% | 2.838e+09 | 8.67% | 13.41 | 12.28 | 26.90% | 6.187 | -3.09% | -10.45% | Downtrend | 34.7 | Appalachian gas pure-play where growth reflects post-merger scale and higher realizations; the equity is effectively a levered gas-price option with a midstream-backed cash-flow floor. Watch compressed margins if in-basin differentials widen. |
| KEY | KeyCorp | Financials | Banks - Regional | 2.145e+10 | 62.65% | 2.056e+09 | 9.72% | 9.41 | 11.75 | 24.34% | — | -7.50% | -5.34% | Downtrend | 77.6 | Regional bank revenue growth is a rates artifact — net interest income normalizing off a low deposit base. The key risks are credit quality in commercial real estate and deposit costs if the curve moves against it. |
| TLN | Talen Energy Corporation | Utilities | Utilities - Independent Power Producers | 1.699e+10 | 59.97% | 6.06e+08 | 3.39% | 12.33 | — | -8.70% | 40.468 | 12.37% | 14.85% | — | 49 | Independent power producer whose growth hinges on selling nuclear and gas capacity into data-center demand — an AI-adjacent utility with genuine pricing power in constrained markets. Hyperscaler contract negotiation headlines make it volatile. |
| OKE | ONEOK, Inc. | Energy | Oil & Gas Midstream | 5.692e+10 | 54.99% | 2.447e+09 | 4.41% | 14.35 | 15.59 | 10.29% | 12.091 | -5.77% | 2.02% | — | 58.3 | Midstream growth is acquisition-led (EnLink/Medallion) and fee-based, so it converts to distributable cash flow more reliably than E&P growth does. Refined-products and NGL exports are the structural tailwind. |
| HL | Hecla Mining Company | Materials | Other Precious Metals & Mining | 1.07e+10 | 53.03% | 3.102e+08 | 2.90% | 15.73 | 20.16 | 22.61% | 13.643 | -19.76% | -13.28% | — | 92.2 | Silver/gold miner where revenue leverage to metal prices is enormous, but the group has been the market's weakest segment recently — operational execution and cost inflation, not demand, drive the equity. Thin FCF conversion versus market cap is the caution. |
| APH | Amphenol Corporation | Information Technology | Electronic Components | 2.104e+11 | 51.71% | 4.378e+09 | 2.03% | 13.27 | 21.28 | 18.64% | 21.98 | 5.06% | 24.32% | Upward channel (44%), Uptrend | 99.6 | Compounder masquerading as a cyclical — IT datacom, defense and industrial connectors give it diversified end-market exposure, with the AI/server interconnect ramp the incremental growth driver. Premium multiple is the trade-off for that consistency. |
| SGI | Somnigroup International Inc. | Consumer Discretionary | Furnishings, Fixtures & Appliances | 1.435e+10 | 51.63% | 6.332e+08 | 4.45% | 17.36 | 24.64 | 5.14% | 15.578 | -8.63% | -19.41% | Downward channel (35%), Downtrend | 64.2 | Mattress and bedding roll-up (Tempur Sealy/Tempur-Pedic plus Mattress Firm integration); growth is merger-driven in a housing-sensitive category. Integration synergies are the catalyst, consumer discretionary weakness the risk. |
| WDC | Western Digital Corporation | Information Technology | Computer Hardware | 1.472e+11 | 50.70% | 1.279e+09 | 0.84% | 12.39 | 14.6 | 19.84% | 33.039 | -18.45% | 16.47% | — | 93 | Storage/hard-drive upcycle with hyperscale nearline demand tightening supply — a textbook cyclical earnings inflection that the market is deliberately not capitalizing. The risk is that the multiple is a peak-cycle multiple, not a cheap one. |
| IP | International Paper Company | Consumer Discretionary | Packaging & Containers | 1.688e+10 | 49.25% | 1.164e+09 | 6.91% | 10.66 | — | -14.88% | 7.624 | -7.97% | -5.26% | — | 32.4 | Packaging producer where revenue reflects price realizations and the DS Smith combination; earnings are depressed by restructuring and impairment items. Paper demand is tied to industrial activity, so the growth is not self-sustaining. |
| MU | Micron Technology, Inc. | Information Technology | Semiconductors | 1.17e+12 | 48.85% | 1.668e+09 | 0.14% | 6.69 | 23.42 | 22.84% | 15.155 | 0.79% | 145.78% | Uptrend | 99.2 | Memory is the highest-beta expression of AI capex — HBM supply agreements give visibility, but DRAM/NAND pricing turns are violent. The low forward multiple is the market pricing in mean reversion from peak earnings, so the multiple is not a safety cushion. |
| SMCI | Super Micro Computer, Inc. | Information Technology | Computer Hardware | 2.81e+10 | 46.59% | 1.532e+09 | 5.19% | 8.03 | 13.12 | 4.77% | 10.185 | 9.86% | 84.19% | Uptrend | 98.4 | Server assembler with AI-rack leverage and structurally thin gross margins; revenue growth has historically not translated into durable earnings power. Accounting/governance history adds a discount that a low multiple alone does not compensate for. |
| STX | Seagate Technology Holdings PLC | Information Technology | Computer Hardware | 1.762e+11 | 38.86% | 8.18e+08 | 0.45% | 13.99 | 55.66 | 16.15% | 42.26 | -12.47% | 54.96% | Uptrend | 90.5 | Nearline HDD demand from cloud buildouts supports pricing, but HAMR transition capex and the memory-cycle correlation make this a cyclical, not a franchise, story. Dividend commitment limits reinvestment flexibility. |
| AFRM | Affirm Holdings, Inc. | Financials | Credit Services | 2.603e+10 | 38.80% | 6.017e+08 | 2.37% | 20.75 | 70.14 | 1.62% | 46.81 | 13.21% | 57.42% | Uptrend | 84.5 | Buy-now-pay-later lender valued on growth rather than cash flow; the balance-sheet funding mix and consumer credit normalization are the real risks. Sensitive to rates and to retail spending, but partnership distribution is a genuine moat. |
| HALO | Halozyme Therapeutics, Inc. | Health Care | Biotechnology | 1.247e+10 | 37.55% | 6.446e+08 | 5.13% | 10.57 | 32.21 | 22.69% | 13.234 | 2.28% | 63.74% | Uptrend | 99.1 | Royalty-like biotech whose ENHANZE drug-delivery platform generates high-margin, recurring licensing revenue — closer to a specialty pharma fee stream than a binary clinical story. Pipeline concentration in a few partners is the key exposure. |
| COF | Capital One Financial Corporati | Financials | Credit Services | 1.223e+11 | 36.62% | 2.614e+10 | 21.75% | 8.29 | 10.98 | 4.59% | — | -5.43% | 3.20% | — | 79.8 | Discover integration plus a rates-driven net interest margin are inflating revenue and FCF in ways that are not comparable to fee-based lenders. Credit normalization in card, and the deal-synergy execution, are the swing factors. |
| SE | Sea Limited | Consumer Discretionary | Internet Retail | 5.689e+10 | 36.38% | 4.511e+09 | 7.78% | 18.07 | 35.86 | 7.02% | 26.505 | -14.55% | 8.69% | — | 89.2 | Southeast Asian e-commerce plus fintech and gaming — the fastest-growing digital economy footprint of any name here, but heavy investment spending and regional competition compress earnings. FCF is finally compounding, which is the re-rating catalyst. |
| B | Barrick Mining Corporation | Materials | Gold | 6.775e+10 | 31.22% | 5.67e+08 | 0.84% | 9.09 | 10.33 | 42.19% | 6.466 | -10.32% | -5.35% | — | 84.8 | Gold miner with growth from higher realized prices and volume recovery; the equity is a clean precious-metals beta with a low multiple, but the sector's trend has broken down, so the cheapness tracks the metal's direction more than operational merit. |
| ARES | Ares Management Corporation | Financials | Asset Management | 3.857e+10 | 28.86% | 3.249e+09 | 8.46% | 16.16 | 53.58 | 17.55% | 36.047 | -12.56% | 13.24% | — | 87.9 | Alternative asset manager where fee-related earnings compound with AUM and are relatively insensitive to market beta — the growth is recurring and capital-light. The risk is credit-fund performance and a high trailing multiple from carried-interest timing. |
| DKS | Dick's Sporting Goods Inc | Consumer Discretionary | Specialty Retail | 1.326e+10 | 28.06% | 4.002e+08 | 3.10% | 8.24 | 13.11 | 4.93% | 9.143 | 1.91% | -35.72% | Downtrend | 14.9 | Growth came substantially from the Foot Locker combination into a weak athletic-retail backdrop, so the multiple is discounting a consumer that has not yet recovered. Synergy delivery is the catalyst; category softness the headwind. |
| DASH | DoorDash, Inc. | Consumer Discretionary | Internet Retail | 8.307e+10 | 27.93% | 2.174e+09 | 2.62% | 24.15 | 100.9 | 6.82% | 70.019 | -2.81% | 24.04% | — | 72.8 | Delivery volume growth plus advertising and grocery attach are diversifying revenue away from a single core; profitability is nascent and the valuation is the richest growth-adjusted multiple in this list. Competitive intensity in US delivery is the risk. |
| LNG | Cheniere Energy, Inc. | Energy | Oil & Gas Midstream | 5.739e+10 | 27.21% | 2.461e+09 | 4.38% | 13.38 | 21.05 | 26.68% | 11.556 | 0.71% | 5.03% | Uptrend | 48.2 | LNG export capacity expansion drives contracted, take-or-pay-style revenue — a rare energy name with fee-based growth visibility, though the market marks it as a full-volatility commodity equity. New liquefaction train ramp is the catalyst. |
| GEN | Gen Digital Inc. | Information Technology | Software - Infrastructure | 1.362e+10 | 27.06% | 1.523e+09 | 11.36% | 6.89 | 13.3 | 19.46% | 10.876 | -23.56% | 25.06% | — | 97.8 | Security-software consolidator; revenue growth is subscription-led and largely acquisition-supported (MoneyLion, Avast integration), with high-margin renewals. The steep recent drawdown reflects balance-sheet/leverage concerns more than demand. |
| OWL | Blue Owl Capital Inc. | Financials | Asset Management | 1.453e+10 | 25.04% | 1.198e+09 | 8.39% | 9.38 | 77.25 | 10.64% | 12.736 | -14.64% | 16.79% | — | 77.7 | Credit-focused alternative manager with fast-growing fee-earning AUM; direct-lending credit marks and redemption dynamics are the pressure points the market is discounting. Growth is fee-based and capital-light when markets cooperate. |
| JHX | James Hardie Industries plc. | Materials | Building Materials | 1.46e+10 | 24.71% | 2.059e+08 | 1.44% | 15.61 | 114.32 | 2.15% | 14.949 | -13.01% | 21.20% | Uptrend | 63.8 | Building products roll-up (James Hardie plus AZEK) with growth from the combination and price/mix; housing-repair demand is the cyclical lever and leverage from the deal is the constraint. Integration synergies are the catalyst. |
| FSLR | First Solar, Inc. | Information Technology | Solar | 1.922e+10 | 24.09% | 1.187e+09 | 6.13% | 7.75 | 18.27 | 29.28% | 8.567 | -11.94% | -9.33% | Downtrend | 59.6 | Thin-film solar manufacturer whose growth rests on utility-scale bookings and domestic manufacturing credits — policy support, not demand, is the thesis driver. Sector sentiment has been badly damaged, so the low multiple is a policy-risk discount. |
| TOST | Toast, Inc. | Information Technology | Software - Infrastructure | 1.765e+10 | 24.05% | 6.45e+08 | 3.65% | 17.64 | 38.65 | 5.56% | 39.001 | -5.92% | 17.60% | Uptrend | 97.2 | Restaurant software platform monetizing payments take-rate on top of SaaS; revenue growth is structural as it displaces legacy POS, but it is still scaling toward durable profitability. Rate and restaurant-unit growth sensitivity are the risks. |
| AVGO | Broadcom Inc. | Information Technology | Semiconductors | 1.719e+12 | 23.87% | 2.691e+10 | 1.50% | 18.44 | 60.02 | 36.20% | 42.767 | -0.98% | 1.82% | Downtrend | 97.4 | Custom AI silicon plus infrastructure software gives it one of the most visible multi-year AI revenue backlogs; the valuation is cheap on earnings largely because of amortization and deal-financing optics. Customer concentration in a few hyperscalers remains the central risk. |
| FIVE | Five Below, Inc. | Consumer Discretionary | Specialty Retail | 1.155e+10 | 22.90% | 4.117e+08 | 3.66% | 21.18 | 26.48 | 7.53% | 18.827 | -15.13% | -6.87% | — | 69.8 | Off-price/value retailer recovering on traffic and store expansion; growth is unit-driven but exposed to tariffs and lower-income consumer stress. The multiple prices a recovery, not a defensive profile. |
| BRO | Brown & Brown, Inc. | Financials | Insurance Brokers | 2.133e+10 | 22.83% | 1.382e+09 | 6.69% | 13.22 | 20.37 | 18.08% | 10.962 | -4.18% | -3.44% | — | 37.3 | Insurance broker with annuity-like commission streams and growth from the Accession/RSC acquisitions; organic growth is steady and capital-light. Valuation reflects confidence in that durability rather than growth optionality. |
| WSE | Wise Group plc | Information Technology | Information Technology Services | 1.149e+10 | 22.46% | 7.534e+09 | 64.85% | 16.83 | 24.33 | 26.34% | 7.463 | -5.50% | — | — | 82.3 | Cross-border money-transfer platform taking share from banks, with revenue scaling on customer balances and interest income. Growth is real but the reported FCF figures reflect customer-fund float mechanics rather than pure operating cash generation. |
| TCOM | Trip.com Group Limited | Consumer Discretionary | Travel Services | 2.483e+10 | 22.23% | 1.945e+09 | 7.83% | 8.97 | 5.66 | 53.50% | -1.096 | -3.14% | -26.06% | Downtrend | 29.7 | China travel recovery play with an unusually profitable margin structure for OTAs; the discount reflects geopolitical and international-travel normalization risk rather than business quality. Inbound travel is the incremental catalyst. |
| META | Meta Platforms, Inc. | Communication Services | Internet Content & Information | 1.836e+12 | 22.17% | 4.611e+10 | 2.51% | 20.77 | 27.17 | 30.08% | 13.63 | 10.37% | 14.92% | Uptrend | 86.1 | One of the few mega-caps combining 20%+ growth with a moderate multiple; ad efficiency gains and AI-driven engagement are funding a very large capex program. The market's main question is whether that infrastructure spend earns an adequate return. |
| SCHW | Charles Schwab Corporation (The | Financials | Capital Markets | 1.675e+11 | 22.01% | 8.763e+09 | 5.30% | 12.41 | 17.64 | 37.01% | — | -9.08% | 0.24% | — | 81.2 | Revenue growth is driven by net interest income and asset gathering as cash sorting normalizes — a rate-cycle beneficiary with sticky, fee-heavy revenue. Bank deposit competition and rate cuts are the earnings risk, not credit. |
| AR | Antero Resources Corporation | Energy | Oil & Gas E&P | 1.109e+10 | 21.97% | 6.87e+08 | 6.28% | 8.33 | 10.33 | 12.79% | 6.77 | -7.82% | -5.63% | Downtrend | 27.8 | Appalachian gas producer with liquids optionality; growth is price-and-volume driven and the equity trades as a gas-price beta. Low multiple is a commodity-discount, not a quality signal. |
| ENB | Enbridge Inc | Energy | Oil & Gas Midstream | 1.042e+11 | 21.92% | 2.313e+09 | 2.22% | 20.11 | 24.89 | 11.49% | 13.234 | -7.20% | -12.33% | Downtrend | 8.9 | Growth is largely the gas transmission and utility acquisitions plus rate-base additions; the yield-like cash flow is regulated and inflation-linked, which is why it trades at a mid-teens multiple despite modest organic growth. |
| NBIX | Neurocrine Biosciences, Inc. | Health Care | Drug Manufacturers - Specialty & Generic | 1.436e+10 | 21.45% | 7.487e+08 | 5.13% | 11.82 | 20.68 | 16.73% | 17.225 | -8.95% | 7.30% | — | 74.9 | Specialty neuro-drug name with a growing non-stimulant ADHD/late-stage pipeline; revenue is product-driven with limited royalty leakage. Single-franchise concentration and generic competition are the enduring risks. |
| AEIS | Advanced Energy Industries, Inc | Industrials | Electrical Equipment & Parts | 1.138e+10 | 21.38% | 1.259e+08 | 1.08% | 18.71 | 52.54 | 8.25% | 30.898 | -0.45% | -24.15% | Downward channel (68%), Downtrend | 69.6 | Semiconductor power-supply and RF equipment supplier levered to datacenter power delivery — revenue growth is real but customer concentration in a few OEMs makes order timing lumpy. Deep downtrend shows the market pricing a capex pause. |
| SHG | Shinhan Financial Group Co Ltd | Financials | Banks - Regional | 3.138e+10 | 20.76% | 4.016e+06 | 0.01% | 8.07 | 9.79 | 6.15% | — | -7.75% | 20.11% | Uptrend | 98.2 | Korean bank whose growth reflects high policy rates and net interest margin expansion in a market with deep value-discount dynamics. Governance reform and shareholder-return policy are the re-rating catalysts, not growth durability. |
| AJG | Arthur J. Gallagher & Co. | Financials | Insurance Brokers | 6e+10 | 20.66% | 1.712e+09 | 2.94% | 15.72 | 38.75 | 10.72% | 18.966 | -4.19% | 7.81% | — | 26.3 | Diversified broker with consistent, commission-and-fee based growth and a long history of bolt-on M&A; organic growth is steady and defensively positioned. The multiple is a premium to peers, so it prices continued execution. |

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