This Week’s Deep-Value Landscape: Acquirer’s Multiple Large-Cap Screen
Tuesday, June 23, 2026 · Johnny Hopkins
This week’s Acquirer’s Multiple® Large-Cap screen continues to highlight a market where investor enthusiasm remains concentrated in a relatively small group of artificial intelligence, semiconductor, and mega-cap growth companies, while many high-quality businesses generating substantial cash flow continue to trade at attractive valuations.
Despite ongoing excitement surrounding AI-driven growth stories, this week’s screen uncovers opportunities across financial services, energy, healthcare, telecommunications, consumer businesses, industrials, transportation, and selected technology companies where valuations remain significantly more reasonable than many of the market’s most popular names.
Financials remain one of the most represented sectors on the screen. Companies including Bank of New York Mellon (BNY), Northern Trust (NTRS), Synchrony Financial (SYF), SS&C Technologies (SSNC), Fidelity National Information Services (FIS), and Broadridge Financial Solutions (BR) continue generating durable earnings, strong free cash flow, and attractive shareholder returns while trading at valuations that remain modest relative to their long-term earning power.
While investors continue debating the outlook for interest rates, credit markets, and economic growth, many of these businesses maintain strong competitive positions and continue returning capital through dividends and share repurchases.
Energy once again stands out as one of the most attractive areas of the screen. Equinor (EQNR), Petrobras (PBR), BP (BP), Shell (SHEL), TotalEnergies (TTE), Cheniere Energy (LNG), Cheniere Energy Partners (CQP), and ONEOK (OKE) continue generating significant cash flow despite ongoing uncertainty surrounding commodity prices and the pace of the global energy transition.
Many of these companies have strengthened their balance sheets, improved capital discipline, and increased shareholder return programs, creating a compelling combination of income and value.
Healthcare continues to provide a broad range of opportunities. Companies including Cigna (CI), Tenet Healthcare (THC), Novo Nordisk (NVO), Sanofi (SNY), Bristol-Myers Squibb (BMY), CVS Health (CVS), GE HealthCare Technologies (GEHC), and Zoetis (ZTS) benefit from resilient demand, recurring revenue streams, and strong market positions while trading at valuations that appear attractive relative to their long-term growth potential.
Communications and telecommunications businesses also remain well represented. Comcast (CMCSA), Charter Communications (CHTR), Verizon Communications (VZ), AT&T (T), Fox Corporation (FOXA), and Ericsson (ERIC) operate essential communications infrastructure and media platforms while trading at valuation multiples that remain well below many technology companies benefiting from current AI enthusiasm.
Several consumer-oriented businesses continue to appear throughout the screen. Target (TGT), Kroger (KR), Best Buy (BBY), Ulta Beauty (ULTA), Unilever (UL), Fomento Económico Mexicano (FMX), Altria (MO), and British American Tobacco (BTI) continue generating meaningful cash flow despite persistent concerns surrounding consumer spending, inflation, and economic uncertainty.
The screen also highlights opportunities across industrials, transportation, materials, and selected technology businesses. Companies such as United Parcel Service (UPS), Ryanair (RYAAY), Otis Worldwide (OTIS), DuPont (DD), First Solar (FSLR), Cognizant Technology Solutions (CTSH), Accenture (ACN), Sony (SONY), HP (HPQ), and CF Industries (CF) demonstrate the breadth of opportunities available among businesses that continue to produce solid operating results despite receiving far less investor attention than today’s market leaders.
Bottom Line
This week’s screen continues to reflect a market where many businesses generating strong cash flows, maintaining resilient profitability, and returning substantial capital to shareholders remain overshadowed by dominant AI and growth narratives.
The opportunity set remains broad across financials, energy, healthcare, telecommunications, consumer businesses, industrials, transportation, and selected technology companies where current valuations continue to imply more modest long-term prospects than the underlying fundamentals appear to support.
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