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Undervalued Stocks (Cash-Flow Basis)

Cheap on enterprise value to cash flow (EV/EBITDA).

Judging value on cash flow rather than reported earnings avoids the distortions of accounting and leverage. This collection screens for companies trading at an EV/EBITDA of 8 or below — cheap relative to the cash their operations generate — ranked by market cap.

1289 stocksSorted by market capUpdated 16 Jul 2026

Why it matters

Cheap on enterprise value to cash flow (EV/EBITDA). It is best used as a valuation shortlist, not a buy list: the strongest candidates still need balance-sheet, cash-flow and competitive-position checks.

What to check next

Look for durable margins, sensible debt, cash conversion and whether the market is pricing in a temporary problem or a permanent decline.

Main risk

Cheap or high-quality screens can still contain value traps when earnings are peaking, accounting quality is poor or the business model is losing relevance.

Showing the 40 largest of 1289 — sort or filter to explore the rest.

Company	Market Cap	Reward	Risk	Yield
Orsted A/SDOGEF	$461.5B	—	—	—
PetroChina Co Ltd Class HPCCYF	$302.3B	—	—	38.2%
Reelcause IncRCIT	$295.8B	—	—	—
Shell PLC ADRSHEL	$236.2B	—	—	1.8%
Naspers LimitedNAPRF	$215.4B	—	—	0.1%
Verizon Communications IncVZ	$211.5B	—	—	5.6%
Deutsche Telekom AG NaDTEGF	$202.3B	—	—	2.3%
AT&T IncT	$198.6B	—	—	4.0%
Deutsche Telekom AG ADRDTEGY	$197.7B	—	—	2.3%
BHP Group LimitedBHP	£146.2B	53	27	4.6%
TotalEnergies SE ADRTTE	$170.6B	—	—	4.9%
Novo Nordisk A/SNONOF	$170.2B	—	—	30.6%
Rio Tinto GroupRTPPF	$166.7B	—	—	4.0%
Rio Tinto ADRRIO	$165.0B	—	—	4.1%
China Shenhua Energy Co LtdCSUAY	$154.5B	—	—	8.0%
Softbank Group Corp.SFTBF	$150.2B	—	—	0.3%
Sony Group CorpSONY	$137.5B	—	—	0.7%
Sony CorpSNEJF	$134.5B	—	—	0.7%
ConocoPhillipsCOP	$134.3B	—	—	2.9%
Investor AB ser. BIVSBF	$128.7B	—	—	1.5%
Interactive Brokers Group IncIBKR	$125.2B	—	—	0.4%
BYD Company LimitedBYDDF	$123.6B	—	—	0.4%
Investor AB (publ)IVSXF	$120.9B	—	—	0.0%
BP PLC ADRBP	$120.5B	—	—	4.3%
Enel SpAESOCF	$116.4B	—	—	4.0%
Comcast CorpCMCSA	$115.3B	—	—	4.2%
ENEL Societa per AzioniENLAY	$115.0B	—	—	4.3%
Prosus NV ADRPROSY	$112.8B	—	—	0.4%
Hon Hai Precision Industry Co Ltd ADRHNHPF	$112.6B	—	—	2.4%
Christian Dior SE ADRCHDRY	$109.7B	—	—	2.8%
Freeport-McMoran Copper & Gold IncFCX	$97.6B	—	—	0.9%
Vinci SA ADRVCISY	$92.0B	—	—	11.9%
Canadian Natural Resources LtdCNQ	$88.3B	—	—	5.5%
Petroleo Brasileiro Petrobras SA ADRPBR	$84.3B	—	—	25.9%
Nippon Telegraph & Telephone CorpNPPXF	$80.8B	—	—	3.7%
América Móvil, S.A.B. de C.V.AMXOF	$80.0B	—	—	41.4%
America Movil SAB de CV ADRAMX	$78.6B	—	—	2.1%
Engie SAENGQF	$77.7B	—	—	5.3%
Equinor ASA ADREQNR	$72.7B	—	—	5.4%
Warner Bros Discovery IncWBD	$69.9B	—	—	—

Orsted A/SDOGEF · $461.5B
Reward—Risk—
PetroChina Co Ltd Class HPCCYF · $302.3B
Reward—Risk—Yield38.2%
Reelcause IncRCIT · $295.8B
Reward—Risk—
Shell PLC ADRSHEL · $236.2B
Reward—Risk—Yield1.8%
Naspers LimitedNAPRF · $215.4B
Reward—Risk—Yield0.1%
Verizon Communications IncVZ · $211.5B
Reward—Risk—Yield5.6%
Deutsche Telekom AG NaDTEGF · $202.3B
Reward—Risk—Yield2.3%
AT&T IncT · $198.6B
Reward—Risk—Yield4.0%
Deutsche Telekom AG ADRDTEGY · $197.7B
Reward—Risk—Yield2.3%
BHP Group LimitedBHP · £146.2B
Reward53Risk27Yield4.6%
TotalEnergies SE ADRTTE · $170.6B
Reward—Risk—Yield4.9%
Novo Nordisk A/SNONOF · $170.2B
Reward—Risk—Yield30.6%
Rio Tinto GroupRTPPF · $166.7B
Reward—Risk—Yield4.0%
Rio Tinto ADRRIO · $165.0B
Reward—Risk—Yield4.1%
China Shenhua Energy Co LtdCSUAY · $154.5B
Reward—Risk—Yield8.0%
Softbank Group Corp.SFTBF · $150.2B
Reward—Risk—Yield0.3%
Sony Group CorpSONY · $137.5B
Reward—Risk—Yield0.7%
Sony CorpSNEJF · $134.5B
Reward—Risk—Yield0.7%
ConocoPhillipsCOP · $134.3B
Reward—Risk—Yield2.9%
Investor AB ser. BIVSBF · $128.7B
Reward—Risk—Yield1.5%
Interactive Brokers Group IncIBKR · $125.2B
Reward—Risk—Yield0.4%
BYD Company LimitedBYDDF · $123.6B
Reward—Risk—Yield0.4%
Investor AB (publ)IVSXF · $120.9B
Reward—Risk—Yield0.0%
BP PLC ADRBP · $120.5B
Reward—Risk—Yield4.3%
Enel SpAESOCF · $116.4B
Reward—Risk—Yield4.0%
Comcast CorpCMCSA · $115.3B
Reward—Risk—Yield4.2%
ENEL Societa per AzioniENLAY · $115.0B
Reward—Risk—Yield4.3%
Prosus NV ADRPROSY · $112.8B
Reward—Risk—Yield0.4%
Hon Hai Precision Industry Co Ltd ADRHNHPF · $112.6B
Reward—Risk—Yield2.4%
Christian Dior SE ADRCHDRY · $109.7B
Reward—Risk—Yield2.8%
Freeport-McMoran Copper & Gold IncFCX · $97.6B
Reward—Risk—Yield0.9%
Vinci SA ADRVCISY · $92.0B
Reward—Risk—Yield11.9%
Canadian Natural Resources LtdCNQ · $88.3B
Reward—Risk—Yield5.5%
Petroleo Brasileiro Petrobras SA ADRPBR · $84.3B
Reward—Risk—Yield25.9%
Nippon Telegraph & Telephone CorpNPPXF · $80.8B
Reward—Risk—Yield3.7%
América Móvil, S.A.B. de C.V.AMXOF · $80.0B
Reward—Risk—Yield41.4%
America Movil SAB de CV ADRAMX · $78.6B
Reward—Risk—Yield2.1%
Engie SAENGQF · $77.7B
Reward—Risk—Yield5.3%
Equinor ASA ADREQNR · $72.7B
Reward—Risk—Yield5.4%
Warner Bros Discovery IncWBD · $69.9B
Reward—Risk—

Frequently asked questions

What is the Undervalued Stocks (Cash-Flow Basis) collection?

Cheap on enterprise value to cash flow (EV/EBITDA). It currently holds 1289 stocks, each rated by Openbook's Reward and Risk scores. Judging value on cash flow rather than reported earnings avoids the distortions of accounting and leverage.

How are Undervalued Stocks (Cash-Flow Basis) stocks selected?

Constituents are chosen by a rules-based screen over the full UK and US common-stock universe, then ranked by market capitalisation.

How often is the Undervalued Stocks (Cash-Flow Basis) list updated?

It is rebuilt from live market data, so the constituents and their rankings update as prices and company fundamentals change — there is no fixed, hand-edited list.

How should I use the Reward and Risk ratings?

Openbook's Reward rating combines a stock's growth, momentum, profitability and valuation into a single 0–100 score, and the Risk rating scores financial strength, volatility and size. Use them to compare names within this theme — broadly, a higher Reward alongside a lower Risk is more attractive. They are quantitative research signals, not investment advice.

Openbook Reward and Risk ratings and factor scores are quantitative signals for research, not investment advice. Data may be delayed. Some US-listed names carry partial factor coverage.