Haverhill Financial Research · Watchlist · October 11, 2026
Why these eight
Every company here is worth more than $40 billion and has lost at least a fifth of its value in the past year, four of them more than a third. A falling price is not the same as a failing business. Most of these still produce large amounts of free cash, and several now trade at low multiples of what they earn. The work is telling the cheap from the broken.
The watchlist
| Company | 1-yr move | P/E · cash | The question |
|---|---|---|---|
INTU Intuit | -54% | 18.4x FCF yield 10.7% | Is AI a threat to TurboTax and QuickBooks, or a tool that makes them harder to leave? Still converting more than a tenth of its market value into free cash each year |
ORCL Oracle | -51% | 22.2x FCF yield -6.7% | Its data-center build is using more cash than the business brings in. When do the new cloud contracts pay that back? The only name here with negative free cash flow |
NKE Nike | -50% | 16.6x Dividend 4.7% | Is the turnaround far enough along to restore margins, and is the dividend covered while it happens? On the Hundred at #50, rated Buy |
TMUS T-Mobile US | -34% | 15.6x FCF yield 11.5% | Is tougher wireless competition squeezing the industry's best grower, or is this a price war it can win? |
CMCSA Comcast | -33% | 6.7x FCF yield 27.9% | The cheapest earnings multiple in this group. Are broadband customer losses slowing? Dividend 6.4% |
ADBE Adobe | -31% | 13.5x FCF yield 11.2% | Is generative AI shrinking its creative-software moat, or giving it a new product to sell? Return on invested capital 57% |
PYPL PayPal | -27% | 10.5x FCF yield 13.9% | Is branded checkout, the profitable core, growing again? |
HD Home Depot | -24% | 20.3x Dividend 3.2% | How long can it grow while so few homes change hands? Its smaller rival Lowe's is on the Hundred at #15, rated Hold |
How we tell the difference
Business intact: revenue still growing, free cash flow still positive, and returns on capital still well above the cost of borrowing. The price fell because expectations reset.
Business damaged: customers leaving, margins falling quarter after quarter, or cash flow turning negative without a clear payback. A lower price does not fix any of that.
Our early read: Adobe, PayPal, Intuit and Comcast pass the cash test easily. Oracle is the one where the question is cash, not sentiment, until its new data centers start earning.
How this connects to our coverage
Nike is on the Haverhill Hundred at #50 with a Buy rating, and AutoZone (#26, Buy) and Lowe's (#15, Hold) are two more large names whose shares have fallen more than 20% in the past year. We will write up any of these eight that we add to the Hundred, with the reasoning, when it happens.
Sources and disclosures
Price moves and ratios are calculated from closing prices and each company's reported results over the last four quarters, as filed with the SEC.
Disclosures. Haverhill Financial Research is a publisher of general financial commentary. This watchlist is not personalized investment advice and does not consider any reader's financial situation; readers should do their own research. Inclusion on a watchlist is not a recommendation to buy or sell. The author of this post does not hold positions in the companies named. Data as of October 9, 2026.
