State of the MacroScreen · not the October monthly

What the book calls cheap

The equal-weight stock book on 21 October 2026, then each sector, then the names that screen cheap inside it. This cites the locked August monthly and does not score your 11, a WL code, or a P-* watch.

Not trade advice — not a buy list No forward return has been tested

Warehouse 1f9c669 · version 1.0.12 · closes 21 Oct 2026 · sector labels 12 Aug 2026 · 503 in, 246 scored, 50 shown

The market

The equal-weight book

The equal-weight S&P is Mixed on 21 October. The close is above the 21-day exponential average and above the 50-day average, and the 21-day average is still below the 50-day average. Price is 2.7% higher than the 23 July close, 63 sessions earlier.

Of 503 names, 246 could be scored. The fifty in the sector sections are the cheapest on trailing earnings, book, and cash yield. Health Care is the strongest sector price path, up 16.7% and Bullish, with 7 of the fifty. Financials holds 14 of the fifty and rose 0.7%, 2 points behind the book.

Sectors

All eleven sectors

Each row is that sector’s equal-weight price index. The count is how many of the fifty carry the 12 August sector label. The return is the 21 October close divided by the 23 July close. Versus the book is that return minus the equal-weight S&P return, in percentage points. The sector name opens the detail below.

Sector	In the fifty	Trend21-day and 50-day	3-month price	Versus the bookpercentage points
Communication Services	7	Bearish	+3.0%	+0.3
Consumer Discretionary	7	Mixed	+0.9%	−1.8
Consumer Staples	3	Mixed	+3.2%	+0.5
Energy	3	Bullish	+11.8%	+9.1
Financials	14	Mixed	+0.7%	−2.0
Health Care	7	Bullish	+16.7%	+14.0
Industrials	4	Mixed	−5.9%	−8.6
Information Technology	3	Mixed	+10.9%	+8.2
Materials	2	Mixed	−1.9%	−4.6
Real Estate	0	Mixed	−5.8%	−8.5
Utilities	0	Mixed	−7.8%	−10.5
Equal-weight S&P	50	Mixed	+2.7%	0

How to read a name

Score and trend

Each of the 246 eligible names is ranked three times. Rank 1 is the cheapest on that one factor. The score is the average of those three ranks, to one decimal. Lower is cheaper. A score of 16 is an average rank among 246 names. It is a rank, not a mark out of 100.

Trailing PE: Lower is cheaper. Rank 1 has the lowest trailing PE in the 246.
Book: Price to book. Lower is cheaper.
Cash yield: Trailing free cash flow divided by market cap. Higher is cheaper. Debt is not taken out.
Trend: Bullish: the close is above the 21-day exponential average, and that average is above the 50-day average. Bearish: the close is below the 21-day average, and that average is below the 50-day average. Mixed: any other order. The 200-day average is not in the label. Trend does not decide who is in the fifty.

Charter (CHTR) · ranks 1, 2, 1 · score (1 + 2 + 1) / 3 = 1.3

A name needs a 21 October close, positive trailing earnings, positive trailing PE, positive book value, positive market cap, and a cash yield on the file. Forward PE is the 12 August figure. It is not in the score.

Sector

Communication Services

Communication Services is Bearish on the 21-day and 50-day stack. From 23 July to 21 October the equal-weight price rose 3.0%, 0.3 points ahead of the book.

Seven of the fifty are here. Charter is the cheapest name on the whole page, score 1.3. Cash yield leads more often than earnings or book.

Charter and Comcast are being carried by one cash year. That year may not repeat. Debt is not in the yield.

Rank is among the 246 eligible names. Score is the average of the three ranks. Trend is that name’s own 21-day and 50-day stack on 21 October.
Rank	Symbol	Trailing PE	Bookprice / book	Cash yieldfree cash flow / cap	RanksPE, book, cash	Scoreaverage of the ranks	Trend21-day and 50-day	Cap
1	CHTR	2.87	0.78	32.8%	1, 2, 1	1.3	Bearish	$13.3B
2	CMCSA	4.04	0.88	25.8%	2, 4, 2	2.7	Mixed	$79.3B
23	OMC	13.74	2.55	12.4%	37, 71, 12	40.0	Mixed	$24.1B
30	TMUS	14.63	2.98	11.0%	44, 88, 20	50.7	Bearish	$167.9B
32	TTD	19.98	2.32	14.5%	87, 61, 8	52.0	Mixed	$6.0B
48	DIS	15.88	1.80	4.2%	53, 39, 120	70.7	Bullish	$197.8B
49	FOX	19.74	2.21	5.7%	85, 54, 73	70.7	Mixed	$25.7B

Sector

Consumer Discretionary

Consumer Discretionary is Mixed. The equal-weight price rose 0.9% from 23 July, 1.8 points behind the book.

Seven of the fifty are here. General Motors is the cheapest in the sector, score 8.0. Earnings and cash yield lead equally often.

General Motors is in this table on one cash year. That year may not repeat. Debt is not in the yield.

Rank is among the 246 eligible names. Score is the average of the three ranks. Trend is that name’s own 21-day and 50-day stack on 21 October.
Rank	Symbol	Trailing PE	Bookprice / book	Cash yieldfree cash flow / cap	RanksPE, book, cash	Scoreaverage of the ranks	Trend21-day and 50-day	Cap
3	GM	8.18	1.10	20.8%	9, 11, 4	8.0	Bearish	$69.1B
13	LULU	9.37	2.30	12.3%	16, 59, 14	29.7	Bearish	$11.0B
16	DHI	12.83	1.68	8.0%	32, 33, 36	33.7	Mixed	$40.1B
17	PHM	11.00	1.67	7.0%	23, 31, 51	35.0	Bearish	$21.7B
22	CCL	8.25	2.66	8.4%	10, 76, 33	39.7	Bullish	$37.7B
29	LEN	13.75	0.87	4.3%	38, 3, 111	50.7	Bearish	$18.7B
38	DECK	12.18	5.15	9.4%	29, 130, 27	62.0	Mixed	$11.8B

Sector

Consumer Staples

Consumer Staples is Mixed. The equal-weight price rose 3.2% from 23 July, 0.5 points ahead of the book.

Three of the fifty are here. McCormick is the cheapest, score 32.7. Earnings, book, and cash yield each lead one name. The three price trends are one of each: Bearish, Mixed, and Bullish.

Rank is among the 246 eligible names. Score is the average of the three ranks. Trend is that name’s own 21-day and 50-day stack on 21 October.
Rank	Symbol	Trailing PE	Bookprice / book	Cash yieldfree cash flow / cap	RanksPE, book, cash	Scoreaverage of the ranks	Trend21-day and 50-day	Cap
15	MKC	8.38	1.78	7.1%	11, 38, 49	32.7	Bearish	$12.5B
31	HRL	19.28	1.44	6.9%	81, 21, 52	51.3	Mixed	$11.3B
42	BF.B	15.74	3.26	7.1%	51, 100, 48	66.3	Bullish	$12.9B

Sector

Energy

Energy is Bullish. The equal-weight price rose 11.8% from 23 July, 9.1 points ahead of the book.

Three of the fifty are here. Expand Energy is the cheapest, score 10.7. Earnings leads two of the three. The sector price is rising, and these names are in the fifty on the valuation score.

Rank is among the 246 eligible names. Score is the average of the three ranks. Trend is that name’s own 21-day and 50-day stack on 21 October.
Rank	Symbol	Trailing PE	Bookprice / book	Cash yieldfree cash flow / cap	RanksPE, book, cash	Scoreaverage of the ranks	Trend21-day and 50-day	Cap
5	EXE	6.98	1.15	12.0%	4, 13, 15	10.7	Mixed	$22.2B
8	EQT	11.94	1.35	11.0%	27, 18, 18	21.0	Mixed	$34.0B
12	OXY	9.23	1.52	7.6%	15, 28, 41	28.0	Bullish	$63.3B

Sector

Financials

Financials is Mixed. The equal-weight price rose 0.7% from 23 July, 2.0 points behind the book. It is the largest group in the fifty.

Fourteen names are here. Fiserv is the cheapest, score 8.7. Book leads more often than earnings or cash yield.

FISV, FITB, HBAN, IVZ, L, and STT print a low book multiple that is ordinary for a bank or insurer. The score favours that. For AIZ, HIG, and PGR, cash yield is a weak description of the business.

Rank is among the 246 eligible names. Score is the average of the three ranks. Trend is that name’s own 21-day and 50-day stack on 21 October.
Rank	Symbol	Trailing PE	Bookprice / book	Cash yieldfree cash flow / cap	RanksPE, book, cash	Scoreaverage of the ranks	Trend21-day and 50-day	Cap
4	FISV	8.67	0.96	15.2%	12, 7, 7	8.7	Mixed	$25.8B
6	CINF	8.17	1.63	12.5%	8, 30, 11	16.3	Mixed	$27.1B
7	HIG	9.10	1.92	15.5%	14, 42, 6	20.7	Mixed	$37.8B
9	IVZ	15.39	1.07	14.5%	50, 8, 9	22.3	Bearish	$13.3B
11	HBAN	11.73	0.92	7.2%	26, 6, 47	26.3	Mixed	$29.9B
14	L	13.81	1.20	7.7%	39, 14, 39	30.7	Mixed	$23.0B
19	GL	11.45	2.19	9.2%	25, 52, 29	35.3	Mixed	$13.5B
20	TROW	10.11	2.03	7.5%	20, 45, 42	35.7	Mixed	$22.3B
21	AIZ	13.49	2.34	11.6%	36, 64, 17	39.0	Mixed	$14.3B
24	PYPL	11.24	2.63	10.5%	24, 73, 24	40.3	Mixed	$52.6B
26	PGR	10.89	3.78	12.3%	22, 108, 13	47.7	Bullish	$129.6B
28	FITB	19.07	1.34	6.6%	76, 17, 57	50.0	Mixed	$46.1B
43	STT	15.23	1.69	4.2%	49, 34, 118	67.0	Bearish	$47.6B
47	RJF	14.63	2.44	4.7%	45, 69, 97	70.3	Bearish	$31.0B

Sector

Health Care

Health Care is Bullish. The equal-weight price rose 16.7% from 23 July, 14.0 points ahead of the book. That is the strongest sector price path on this page.

Seven of the fifty are here. Universal Health Services is the cheapest, score 23.7. Book leads most often. Three of the seven names are Bullish on their own price, and four are Mixed. The sector price and the valuation score are separate reads.

Rank is among the 246 eligible names. Score is the average of the three ranks. Trend is that name’s own 21-day and 50-day stack on 21 October.
Rank	Symbol	Trailing PE	Bookprice / book	Cash yieldfree cash flow / cap	RanksPE, book, cash	Scoreaverage of the ranks	Trend21-day and 50-day	Cap
10	UHS	7.98	1.48	7.6%	7, 24, 40	23.7	Bullish	$11.1B
34	ELV	16.51	2.12	6.9%	59, 47, 54	53.3	Bullish	$94.9B
35	ZBH	22.69	1.46	8.3%	113, 23, 35	57.0	Mixed	$18.4B
36	COO	19.72	1.38	5.9%	84, 19, 69	57.3	Mixed	$11.5B
37	PFE	19.13	2.01	6.4%	79, 44, 59	60.7	Bullish	$171.1B
44	BMY	13.14	5.61	9.1%	33, 139, 30	67.3	Mixed	$125.2B
50	BSX	17.45	2.65	5.5%	66, 74, 78	72.7	Mixed	$66.1B

Sector

Industrials

Industrials is Mixed. The equal-weight price fell 5.9% from 23 July, 8.6 points behind the book.

Four of the fifty are here. Builders FirstSource is the cheapest, score 53.0. Earnings leads two of the four. A falling sector price is not why these names were scored.

Rank is among the 246 eligible names. Score is the average of the three ranks. Trend is that name’s own 21-day and 50-day stack on 21 October.
Rank	Symbol	Trailing PE	Bookprice / book	Cash yieldfree cash flow / cap	RanksPE, book, cash	Scoreaverage of the ranks	Trend21-day and 50-day	Cap
33	BLDR	23.37	1.45	11.0%	118, 22, 19	53.0	Bearish	$5.8B
40	SWK	25.59	1.61	8.9%	133, 29, 31	64.3	Mixed	$14.4B
41	HON	9.85	3.70	5.9%	18, 106, 71	65.0	Mixed	$68.5B
46	UBER	13.42	5.10	7.3%	35, 129, 46	70.0	Bearish	$139.3B

Sector

Information Technology

Information Technology is Mixed. The equal-weight price rose 10.9% from 23 July, 8.2 points ahead of the book.

Three of the fifty are here. First Solar is the cheapest, score 35.0. Cash yield leads two of the three. Few technology names cleared the screen.

Rank is among the 246 eligible names. Score is the average of the three ranks. Trend is that name’s own 21-day and 50-day stack on 21 October.
Rank	Symbol	Trailing PE	Bookprice / book	Cash yieldfree cash flow / cap	RanksPE, book, cash	Scoreaverage of the ranks	Trend21-day and 50-day	Cap
18	FSLR	12.01	1.82	8.0%	28, 40, 37	35.0	Bearish	$18.8B
27	CTSH	15.12	2.20	7.4%	48, 53, 44	48.3	Bullish	$33.2B
39	INTU	13.33	4.89	9.3%	34, 125, 28	62.3	Mixed	$93.0B

Sector

Materials

Materials is Mixed. The equal-weight price fell 1.9% from 23 July, 4.6 points behind the book.

Two of the fifty are here. CF Industries is the cheapest, score 43.7. Earnings leads both.

Rank is among the 246 eligible names. Score is the average of the three ranks. Trend is that name’s own 21-day and 50-day stack on 21 October.
Rank	Symbol	Trailing PE	Bookprice / book	Cash yieldfree cash flow / cap	RanksPE, book, cash	Scoreaverage of the ranks	Trend21-day and 50-day	Cap
25	CF	8.76	3.12	10.7%	13, 96, 22	43.7	Bearish	$17.9B
45	CRH	14.13	2.40	4.7%	41, 67, 96	68.0	Mixed	$57.7B

Sector

Real Estate

Real Estate is Mixed. The equal-weight price fell 5.8% from 23 July, 8.5 points behind the book.

No name from this sector is in the fifty. A name needed positive earnings, positive book, and a cash yield, and then a score inside the fifty cheapest.

Sector

Utilities

Utilities is Mixed. The equal-weight price fell 7.8% from 23 July, 10.5 points behind the book. That is the weakest sector price path on this page.

No name from this sector is in the fifty. A name needed positive earnings, positive book, and a cash yield, and then a score inside the fifty cheapest.

Left out

Who was left out

132 names had no cash yield.
38 names still had a 20 October close. Those names are out because the build stopped, not because they failed the value tests. Allstate and Albemarle would sit inside the fifty on that older close. They are not added here.
28 had a book value that was not positive. 23 had no book value.
20 had earnings that were not positive. 8 had no earnings figure.
Four older closes were out: AVB (14 August), EQR (17 August), WBD (5 October), PSKY (16 October).
BRK.B, STZ, ERIE, HONA, and V have no SEC facts. They stayed on the August row and are not in the 246 or the fifty. BRK.B is also one of the 38 names on the 20 October close, so the reasons above count one name twice. 503 minus 246 is 257 names left out.

The 21 October draft of this list used a bad share count and is withdrawn. RTX is not in this fifty. A sector index leaves out a member on any day that member has no bar. It does not hold that member's price flat.