Quality large caps by fwd P/E
Query: US large-cap quality stocks with ROE above 20%, net margin above 15%, positive revenue growth, ranked by forward P/E · data as of 2026-10-14
Built a large-cap quality-growth screen (≥$10B market cap, ROE >20%, net margin >15%, positive revenue growth) ranked by forward P/E ascending — 44 names, led by Texas Pacific Land, gold miners (Harmony, Gold Fields), PDD, Gen Digital and AerCap, with a narrative on reading cheap high-ROE multiples and per-row qualitative comments.
Large-cap quality-growth screen (≥$10B, ROE >20%, net margin >15%, positive revenue growth), ranked by forward P/E. 44 names as of October 14, 2026.
High-Quality Growth at a Discount — Large Caps (as of October 14, 2026)
| Symbol | Security Name | Sector | Industry | Market Cap | ROE | Net Margin | Revenue Growth (YoY) | Forward P/E | P/E (TTM) | 1M Return | 6M Return | Comments |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TPL | Texas Pacific Land Corporation | Energy | Oil & Gas E&P | 2.446e+10 | 30.94% | 60.31% | 13.09% | 4.85 | 45.11 | -4.59% | -14.77% | Land-and-royalty model tied to Permian activity rather than commodity prices directly, so cash flow holds up better than E&P peers in downturns; the rich trailing multiple reflects the market capitalizing that fee stream. |
| HMY | Harmony Gold Mining Company Lim | Materials | Gold | 1.074e+10 | 29.99% | 19.69% | 20.39% | 4.88 | 10.25 | -14.29% | 1.25% | South African gold miner; the deep discount reflects sovereign/power-supply risk and a high-cost asset base rather than the metal itself. Earnings are highly geared to the rand gold price. |
| GFI | Gold Fields Limited | Materials | Gold | 3.167e+10 | 24.05% | 24.81% | 15.57% | 6.62 | 9.02 | -17.15% | -23.28% | Precious-metal producer with scale and a lower-risk jurisdiction mix; cheap multiple is a bet on the gold miners' earnings staying elevated after the recent sector pullback. |
| PDD | PDD Holdings Inc. | Consumer Discretionary | Internet Retail | 1.159e+11 | 23.67% | 22.66% | 14.45% | 6.65 | 8.52 | 4.32% | -20.12% | Heavily discounted versus global e-commerce peers on US-China policy and de minimis tariff risk, not on business quality. Temu's international ramp is the swing factor for growth. |
| GEN | Gen Digital Inc. | Information Technology | Software - Infrastructure | 1.425e+10 | 37.27% | 19.46% | 27.06% | 7.21 | 13.92 | -23.79% | 22.18% | Consumer security software with subscription revenue; margins benefit from AVG/Avast cross-selling. Cheap multiple reflects mature end-market growth rather than balance-sheet strain. |
| AER | AerCap Holdings N.V. | Industrials | Rental & Leasing Services | 2.268e+10 | 20.47% | 44.04% | 6.50% | 7.92 | 7.09 | 4.32% | -1.47% | Aircraft lessor: profitability is a function of rental rates and residual values, both strong while OEM delivery delays keep supply tight. Cyclicality of aircraft values is the key risk. |
| RNR | RenaissanceRe Holdings Ltd. | Financials | Insurance - Reinsurance | 1.411e+10 | 31.42% | 28.16% | 9.86% | 8.28 | 5.89 | 3.29% | 9.54% | Reinsurer earning exceptional returns on a hard property-catastrophe market; the discount embeds a normalizing pricing cycle and a heavy-cat loss season. |
| EIX | Edison International | Utilities | Utilities - Regulated Electric | 2.133e+10 | 27.14% | 24.34% | 9.76% | 8.52 | 5.72 | 3.28% | -20.08% | Regulated utility carrying elevated wildfire-liability exposure in California — the cheap multiple and high ROE are the market charging for that litigation tail risk. |
| ALL | Allstate Corporation (The) | Financials | Insurance - Property & Casualty | 5.972e+10 | 32.48% | 15.17% | 5.58% | 8.57 | 4.73 | -8.18% | 8.79% | Auto and home insurer printing peak underwriting margins after years of rate increases; the debate is how much of that pricing sticks once claims inflation normalizes. |
| ADBE | Adobe Inc. | Information Technology | Software - Application | 9.367e+10 | 61.90% | 30.00% | 10.53% | 8.75 | 13.78 | -6.63% | -1.63% | Highest-quality software franchise on the list, but the low forward multiple reflects investor concern about generative-AI disruption to its creative seat-based model. |
| RCI | Rogers Communication, Inc. | Communication Services | Telecom Services | 1.959e+10 | 28.44% | 48.83% | 3.22% | 8.86 | 3.78 | -13.36% | -4.86% | Canadian wireless and cable incumbent; levered balance sheet and a mature market cap growth, so the discount is a capital-structure story more than an operating one. |
| FUTU | Futu Holdings Limited | Financials | Capital Markets | 1.534e+10 | 28.34% | 49.62% | 67.78% | 8.96 | 12.11 | 0.67% | -32.49% | Hong Kong online brokerage levered to Chinese retail trading volumes; earnings are highly sensitive to A-share and Hong Kong market activity and cross-border policy. |
| GSK | GSK plc | Health Care | Drug Manufacturers - General | 1.015e+11 | 39.41% | 19.25% | 4.11% | 9.32 | 15.01 | -4.28% | -15.68% | Pharma with a specialty/HIV tilt; cheap multiple reflects pipeline and patent-cliff questions on legacy respiratory and shingles franchises rather than current cash generation. |
| GDDY | GoDaddy Inc. | Information Technology | Software - Infrastructure | 1.309e+10 | 368.73% | 17.67% | 8.26% | 9.37 | 15.36 | 0.96% | 26.13% | Very high ROE is a function of a small equity base after sustained buybacks, so it overstates operating quality — the real story is domain renewals and payments attach. |
| AMP | Ameriprise Financial, Inc. | Financials | Asset Management | 4.38e+10 | 57.36% | 18.84% | 5.49% | 9.62 | 11.99 | -11.36% | 11.49% | Asset manager with an advisory-heavy wealth franchise; earnings benefit from market levels and rate-sensitive cash sweep revenue, so a rate-cut cycle is a mild headwind. |
| PYPL | PayPal Holdings, Inc. | Financials | Credit Services | 4.799e+10 | 26.13% | 15.78% | 4.32% | 9.68 | 10.6 | 4.26% | 13.83% | The discount reflects slow branded-checkout growth and competitive pressure from newer payment rails; Braintree margin repair and cost discipline are the turnaround levers. |
| DECK | Deckers Outdoor Corporation | Consumer Discretionary | Footwear & Accessories | 1.128e+10 | 40.97% | 18.71% | 9.76% | 9.9 | 11.78 | 6.85% | -23.93% | Hoka and Ugg franchise with strong gross margins but high exposure to a fickle consumer and to a single hot brand; the market worries about Hoka's deceleration. |
| BCE | BCE, Inc. | Communication Services | Telecom Services | 2.211e+10 | 27.95% | 28.67% | 4.60% | 10.25 | 4.05 | -14.10% | -15.22% | Canadian telecom trading at a deep discount on leverage, dividend coverage and competitive pricing pressure — a yield-and-value story with policy overhang. |
| NEM | Newmont Corporation | Materials | Gold | 1.175e+11 | 20.52% | 31.62% | 21.34% | 10.54 | 14.07 | -10.17% | -0.87% | Gold major with diversified, low-cost operations; earnings are geared to a metal price that has stalled, so the discount moves with the gold cycle rather than company execution. |
| NVO | Novo Nordisk A/S | Health Care | Drug Manufacturers - General | 2.067e+11 | 52.79% | 33.14% | 6.43% | 11.19 | 9.39 | -10.37% | -5.40% | GLP-1 leader; the compressed multiple is a competitive-response story as rival obesity drugs scale, not a profitability problem — the pipeline readouts are the catalyst. |
| HALO | Halozyme Therapeutics, Inc. | Health Care | Biotechnology | 1.326e+10 | 220.76% | 22.69% | 37.55% | 11.24 | 34.26 | 9.95% | 71.67% | Royalty-based drug delivery platform earning extraordinary returns on capital; the growth engine is per-unit royalties on partnered subcutaneous formulations, with patent timing the main risk. |
| ZTS | Zoetis Inc. | Health Care | Drug Manufacturers - Specialty & Generic | 3.111e+10 | 82.68% | 28.23% | 2.28% | 11.32 | 12.28 | 2.53% | -36.95% | Animal-health pure play with pricing power and a portfolio skewed to companion animals; the high ROE is partly leverage-assisted, and vet-visit softness is the watch item. |
| CF | CF Industries Holdings, Inc. | Materials | Agricultural Inputs | 1.808e+10 | 31.28% | 25.38% | 19.34% | 11.46 | 8.86 | -11.86% | -0.20% | Nitrogen fertilizer producer whose cheap multiple is a direct function of natural-gas spreads and global grain economics — a commodity-cycle earnings call. |
| NTES | NetEase, Inc. | Communication Services | Electronic Gaming & Multimedia | 7.923e+10 | 21.71% | 30.90% | 11.65% | 11.67 | 15.76 | 3.55% | 7.85% | Chinese gaming and education platform; new-title performance and gaming-approval cadence are the drivers, and the valuation discount reflects China regulatory risk. |
| TIGO | Millicom International Cellular | Communication Services | Telecom Services | 1.347e+10 | 37.61% | 23.41% | 0.26% | 11.76 | 20.08 | -15.46% | 4.90% | LatAm mobile operator executing a multi-year convergence and cash-generation story; cheap on capital returns with currency and political risk in the discount. |
| CHKP | Check Point Software Technologi | Information Technology | Software - Infrastructure | 1.369e+10 | 36.67% | 38.78% | 6.25% | 11.86 | 13.75 | -2.69% | -0.45% | Steady-margin cybersecurity vendor; the low multiple reflects slower growth versus cloud-native peers, but the annuity subscription base and net cash support the valuation. |
| ORCL | Oracle Corporation | Information Technology | Software - Infrastructure | 3.958e+11 | 40.72% | 25.70% | 17.35% | 11.96 | 22.39 | -6.64% | -22.57% | Rapid cloud-infrastructure backlog has re-rated the business, but the equity is now a proxy for AI-buildout financing risk — debt-funded capex against a 4.6% ten-year. |
| SOLV | Solventum Corporation | Health Care | Medical Instruments & Supplies | 1.485e+10 | 31.31% | 18.69% | 0.86% | 12.08 | 10.67 | -3.11% | 26.28% | 3M healthcare spinoff; multiple reflects post-separation margin recovery and portfolio decisions — a self-help execution story in med-tech. |
| APP | Applovin Corporation | Communication Services | Advertising Agencies | 8.808e+10 | 141.05% | 60.83% | 69.99% | 12.49 | 20.17 | -20.90% | -43.57% | Ad-tech platform whose software margins drive exceptional returns on capital; the key risk is sensitivity to mobile-ad budgets and regulatory scrutiny on targeting. |
| INCY | Incyte Corporation | Health Care | Biotechnology | 2.261e+10 | 22.88% | 25.03% | 21.22% | 12.52 | 14.19 | -8.35% | 14.90% | Biotech with a profitable Jakafi base and a pipeline attempting to diversify; patent-cliff timing on the lead drug is the central valuation debate. |
| CPAY | Corpay, Inc. | Information Technology | Software - Infrastructure | 2.581e+10 | 30.54% | 23.67% | 13.93% | 12.58 | 23.91 | -3.61% | 21.32% | Payments and vehicle-fleet platform with consistent double-digit growth; cheap multiple reflects corporate-spend cyclicality more than competitive erosion. |
| APH | Amphenol Corporation | Information Technology | Electronic Components | 2.039e+11 | 30.80% | 18.64% | 51.71% | 12.86 | 20.62 | 6.66% | 12.86% | Best-cycled interconnect maker in the list — direct AI/data-center content gives it real growth exposure, though multiples now embed a lot of that build-out. |
| STX | Seagate Technology Holdings PLC | Information Technology | Computer Hardware | 1.623e+11 | 134.16% | 16.15% | 38.86% | 12.89 | 51.26 | -7.48% | 37.53% | Nearline HDD demand from hyperscalers has produced a sharp earnings inflection; the discount reflects concern that storage pricing and the AI-capex cycle normalize. |
| AON | Aon plc | Financials | Insurance Brokers | 5.841e+10 | 39.07% | 21.83% | 9.45% | 12.9 | 15.16 | -9.62% | -15.66% | Insurance broker with fee-based, low-capital earnings; the steady compounding justifies premium versus carriers, and the discount is modest. |
| TPR | Tapestry, Inc. | Consumer Discretionary | Luxury Goods | 2.283e+10 | 220.73% | 19.09% | 14.17% | 12.97 | 15.82 | -1.78% | -23.50% | Accessible-luxury house whose very high ROE is leverage-assisted; growth depends on Coach brand momentum and consumer resilience in a soft discretionary backdrop. |
| NU | Nu Holdings Ltd. | Financials | Banks - Regional | 7.212e+10 | 25.79% | 17.12% | 43.44% | 13.05 | 20.45 | 5.21% | -2.67% | LatAm digital bank with strong growth and improving efficiency; currency, credit-cycle and political risk in Brazil and Mexico keep the multiple below US neobank peers. |
| XP | XP Inc. | Financials | Capital Markets | 1.547e+10 | 22.52% | 60.81% | 13.67% | 13.13 | 15.72 | 56.12% | 48.49% | Brazilian investment platform levered to local retail flows and rates; earnings quality is high but volumes track the domestic rate and equity cycle. |
| SBS | Companhia de saneamento Basico | Utilities | Utilities - Regulated Water | 2.258e+10 | 25.94% | 26.50% | 41.35% | 13.29 | 14.27 | 22.52% | -5.62% | Brazilian water utility with regulated, inflation-linked revenue; the discount pairs a stable asset with BRL and political/regulatory risk. |
| LNG | Cheniere Energy, Inc. | Energy | Oil & Gas Midstream | 5.777e+10 | 141.94% | 26.68% | 27.21% | 13.47 | 21.19 | 3.21% | 9.42% | LNG exporter with long-term contracted volumes; cash flows are contracted and stable, so the low multiple reflects LNG spot-price expectations rather than balance-sheet risk. |
| RCL | Royal Caribbean Cruises Ltd. | Consumer Discretionary | Travel Services | 7.336e+10 | 41.92% | 23.93% | 8.80% | 13.52 | 16.93 | 10.69% | -1.75% | Cruise operator with record pricing and strong booking curves; profits are levered to a healthy consumer and fuel costs, and the balance sheet is still post-pandemic de-leveraging. |
| INFY | Infosys Limited | Information Technology | Information Technology Services | 4.65e+10 | 28.09% | 28.91% | 7.16% | 13.52 | 14.17 | 1.41% | -18.04% | Indian IT services with high returns on capital but decelerating client spend; cheap multiple is a discretionary-IT-budget and US-dollar story. |
| CNQ | Canadian Natural Resources Limi | Energy | Oil & Gas E&P | 8.562e+10 | 24.39% | 27.91% | 8.71% | 13.55 | 12.8 | 0.52% | 15.46% | Low-cost oil-sands producer with disciplined capital allocation and a shareholder-return commitment; earnings track the heavy-crude differential and WCS pricing. |
| FTAI | FTAI Aviation Ltd. | Industrials | Aerospace & Defense | 1.677e+10 | 116.07% | 19.98% | 44.53% | 13.59 | 35.57 | -7.48% | -37.33% | Aircraft-leasing and aftermarket aero-engine platform; very high ROE reflects a capital-light, fee-generation shift — a growth-financial with aviation-cycle risk. |
| VG | Venture Global, Inc. | Energy | Oil & Gas Midstream | 3.318e+10 | 37.79% | 19.85% | 176.93% | 13.69 | 10.13 | -13.21% | 9.39% | Newly public LNG exporter still in ramp-up; low multiple partly reflects execution and project-financing risk on its next export trains. |
Reading the Screen
Screen: US stocks with market cap ≥ $10B, ROE > 20%, net margin > 15% and positive revenue growth — ranked cheapest first by forward P/E. The list clusters into a few groups: foreign ADR compounders (gold miners, Chinese e-commerce and gaming, LatAm fintech and telcos) that screen optically cheap; health-care cash machines (large-cap pharma, med-tech and royalty models); and asset-light, fee-based businesses (brokers, exchanges, insurers, payment platforms) whose high ROE comes from low capital intensity.
How to read it: a low forward P/E on a high-ROE, high-margin business is either a genuine inefficiency or the market pricing in cyclicality, policy risk or estimate downgrades. The cheapest names here are almost never cheap without a reason — commodity price decks (gold, oil, nitrogen), US-China policy exposure (PDD, NTES, Futu), regulatory/utility liability tails (Edison), or patent cliffs (GSK, Incyte, Novo). The right question is whether the specific overhang is temporary and already discounted.
Warrants caution: several single-digit multiples belong to leveraged or buyback-depressed equity bases, where a spectacular ROE overstates economics rather than reflecting capital efficiency. Where that is the case it is flagged in the row comments. Rates and financing conditions also matter more than usual right now — debt-funded growth models are the ones most exposed to a 10-year yield near 4.6%.
Screen notes: one large-cap fintech was excluded from the ranking because its forward EPS is reported in a non-USD local currency, which makes the resulting forward multiple not meaningful. Trailing P/E and 1M/6M returns are shown for context only — the ordering is strictly by forward P/E.
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