Fair value

The market against fair value

Where every US company we value sits against its intrinsic value today, and the names furthest either side.

At the Sep 23, 2026 close, 69.6% of 800 US stocks traded below their fair value and 30.4% above it; the median gap was +15.7%.

800 names · as of the Sep 23, 2026 close

Undervalued
69.6%
Overvalued
30.4%
Median gap
+15.7%
Gap above +20%
361
Gap below −20%
62
Names in the figures
800

of 1,228 valued · 428 left out

Distribution of gaps

Every clean valuation

-60%-40%-20%0%+20%+40%+60%+80%+100%+median +15.7%
Bucketed by 10 points; the end bars collect everything beyond them.
Median gap by sector
Information Technology+41.2%Financials+29.1%Utilities+22.4%Real Estate+19.9%Communication Services+18.1%Consumer Discretionary+16.9%Energy+13.5%Health Care+11.9%Consumer Staples+5.7%Industrials+1.9%Materials-4.1%
GICS sectors. Half of each sector's names sit above this gap and half below.

Top 10 undervalued

#SymbolSectorPriceFair valueGapP(under)
1TCommunication Services25.3075.80+199.6%0.43
2ADBEInformation Technology240.69712.80+196.2%0.57
3CHTRCommunication Services116.61343.54+194.6%0.50
4RBLXCommunication Services48.99142.14+190.1%0.43
5LDOSInformation Technology124.69356.55+185.9%0.51
6TMUSCommunication Services165.66468.25+182.7%0.46
7WKInformation Technology70.79198.60+180.6%0.46
8AZNHealth Care163.33450.96+176.1%0.44
9INTAInformation Technology36.46100.64+176%0.53
10PLNTConsumer Discretionary41.00111.39+171.7%0.48
  1. 1. T+199.6%
  2. 2. ADBE+196.2%
  3. 3. CHTR+194.6%
  4. 4. RBLX+190.1%
  5. 5. LDOS+185.9%
  6. 6. TMUS+182.7%
  7. 7. WK+180.6%
  8. 8. AZN+176.1%
  9. 9. INTA+176%
  10. 10. PLNT+171.7%

Top 10 overvalued

#SymbolSectorPriceFair valueGapP(under)
1STXInformation Technology923.86586.34-36.5%0.42
2TLNUtilities300.34191.03-36.4%0.45
3KLACInformation Technology187.86126.83-32.5%0.47
4CELHConsumer Staples29.1819.89-31.8%0.47
5WBDCommunication Services30.7621.04-31.6%0.46
6HOODFinancials122.7084.95-30.8%0.42
7DVAHealth Care183.14126.80-30.8%0.46
8CDEMaterials19.3213.40-30.7%0.47
9ICLRHealth Care163.90114.34-30.2%0.46
10ALBMaterials113.4779.58-29.9%0.48
  1. 1. STX-36.5%
  2. 2. TLN-36.4%
  3. 3. KLAC-32.5%
  4. 4. CELH-31.8%
  5. 5. WBD-31.6%
  6. 6. HOOD-30.8%
  7. 7. DVA-30.8%
  8. 8. CDE-30.7%
  9. 9. ICLR-30.2%
  10. 10. ALB-29.9%

After each US trading day, we project most companies' cash flows from their latest annual report, discount them for Fed policy, credit spreads and each stock's risk, run 10,000 scenarios and blend in their own earnings and EBITDA multiples and book value. Gap compares fair value with the last close; P(under) is a separate model's probability of beating the average stock over three months. Lists: market capitalisation above $1B. Names whose cash-flow value fell below the three-month model's price range, or that the model flags as implausible, are left out of the figures and lists. A model's estimate, not a price target and not a recommendation to buy or sell.