The 10 Cheapest Large-Cap Stocks This Week
Sunday, November 1, 2026
This week’s Acquirer’s Multiple® Large-Cap screen highlights attractive valuations across financials, materials, chemicals and energy, with a significant reshuffling of the cheapest stocks.
Financials and materials dominate the top 10, accounting for eight of the cheapest companies. Sun Life Financial (SLF) enters the screen in first place, replacing last week’s leader, Synchrony Financial (SYF), which slips to second.
The Acquirer’s Multiple® compares enterprise value with operating earnings.
Here are the 10 cheapest large-cap stocks this week:
1. Sun Life Financial (SLF) — 2.6x
Sun Life Financial takes first place in this week’s screen, replacing Synchrony Financial as the cheapest company overall. The Canadian insurance and financial-services company trades at an Acquirer’s Multiple of 2.6x, with a 27.5% free-cash-flow yield, 4.7% shareholder yield and 3.4% dividend yield. Its five-year average return on assets is 6.2%.
2. Synchrony Financial (SYF) — 2.6x
Synchrony slips from first to second place as its Acquirer’s Multiple increases from 2.5x to 2.6x. The specialty-finance company continues to offer a substantial 39.0% free-cash-flow yield, 15.7% shareholder yield and 13.6% buyback yield. Credit quality and consumer spending remain important considerations.
3. Equinor (EQNR) — 3.7x
Norwegian energy producer Equinor slips from second to third place, with its Acquirer’s Multiple remaining approximately unchanged at 3.7x. The company has an 8.4% free-cash-flow yield, 8.0% shareholder yield and 3.3% dividend yield. Oil and gas prices remain key influences on its earnings outlook.
4. Northern Trust (NTRS) — 4.3x
Northern Trust enters the top 10 in fourth place, trading at an Acquirer’s Multiple of 4.3x. The investment-services company has a 6.2% shareholder yield, 4.2% buyback yield and 2.0% dividend yield. Its free-cash-flow yield is slightly negative at -0.7%. Asset-management activity, interest rates and market conditions remain important considerations.
5. Sasol (SSL) — 4.4x
South African chemicals and energy company Sasol enters the top 10 in fifth place, trading at an Acquirer’s Multiple of 4.4x. The company has a 6.5% free-cash-flow yield and a five-year average return on assets of 15.8%. It currently shows no dividend or buyback yield in the screen. Commodity prices, operating costs and financial leverage remain important considerations.
6. Allstate (ALL) — 4.5x
Allstate enters the top 10 in sixth place, with an Acquirer’s Multiple of 4.5x. The US insurance company has an 18.6% free-cash-flow yield, 5.4% shareholder yield and 1.8% dividend yield. Its five-year average return on assets is 14.3%. Underwriting profitability, catastrophe losses and insurance pricing remain important influences on performance.
7. Vale (VALE) — 4.9x
Brazilian mining company Vale enters the top 10 in seventh place, trading at an Acquirer’s Multiple of 4.9x. The company has an 8.9% free-cash-flow yield, 10.7% shareholder yield and 10.2% dividend yield. Iron ore prices, Chinese demand and production costs remain important considerations for investors.
8. Alcoa (AA) — 5.0x
Alcoa enters the top 10 in eighth place, with an Acquirer’s Multiple of 5.0x. The aluminium producer has an 8.6% free-cash-flow yield, 1.0% dividend yield and a five-year average return on assets of 10.6%. Aluminium prices, energy costs and global industrial demand remain key influences on its outlook.
9. Gold Fields (GFI) — 5.2x
Gold Fields enters the top 10 in ninth place, trading at an Acquirer’s Multiple of 5.2x. The gold producer has a 15.0% free-cash-flow yield, 6.0% shareholder yield and 5.5% dividend yield. Its five-year average return on assets is 37.9%. Gold prices, production performance and operating costs remain important considerations.
10. Kinross Gold (KGC) — 5.2x
Kinross Gold enters the top 10 in tenth place, trading at an Acquirer’s Multiple of 5.2x. The Canadian gold producer has a 12.5% free-cash-flow yield, 4.5% shareholder yield and 3.8% buyback yield. Its five-year average return on assets is 31.2%. Gold prices, mine development and capital allocation remain important factors.
Bottom Line
This week’s large-cap screen has undergone a substantial reshuffling, with eight new entrants replacing much of last week’s top 10.
Financials and materials now dominate the cheapest end of the screen, accounting for eight of the 10 companies. This represents a significant change from last week, when energy accounted for five of the cheapest stocks.
Sun Life Financial takes first place at 2.6x, narrowly ahead of Synchrony Financial, which slips to second as its Acquirer’s Multiple increases from 2.5x to 2.6x.
Equinor is the only other company to retain its place in the top 10, slipping from second to third while its valuation remains broadly unchanged at 3.7x.
The biggest change is the arrival of several financial and materials businesses. Northern Trust and Allstate join Sun Life and Synchrony in the financial sector, while Vale, Alcoa, Gold Fields and Kinross Gold provide substantial exposure to mining and metals.
Gold producers are particularly well represented, with Gold Fields and Kinross Gold entering the screen at multiples of 5.2x. Both companies also report double-digit free-cash-flow yields and strong five-year average returns on assets.
Meanwhile, Petrobras, APA Corporation, CF Industries, YPF, SQM, SK Hynix, BP and Novo Nordisk all drop out of the top 10.
The valuation range has also narrowed considerably. Last week’s tenth-ranked company, Novo Nordisk, traded at 8.1x, compared with just 5.2x for Kinross Gold this week.
All 10 companies now trade at an Acquirer’s Multiple of approximately 5.2x or less, highlighting a notably cheaper group of companies than last week’s top 10.
The screen continues to provide value investors with a diversified starting point for further research. However, the increased concentration in financials, mining and commodity-sensitive businesses reinforces the importance of assessing earnings sustainability, balance-sheet strength and industry-specific risks alongside headline valuations.