Finance

Real Estate Investment and Services

23 investable US stocks · data to Saturday, October 24, 2026

Acquirer's Multiple percentile today67th percentile

Dearer than in 55% of quarters since 1999Its usual range since 1999 is the 50th to 82nd percentile (the middle 80% of quarters), with a median of the 66th. Lower is cheaper: the 10th percentile is cheaper than 90% of the investable US market; the 50th is the middle.

Is it cheap because returns are depressed?

The industry is in its usual range on the multiple, and returns on assets are strong (higher than in 88% of quarters). Free cash flow yield is high (higher than in 92% of quarters). A low multiple can be warranted when returns on assets are low, and a high one when they are high, so the multiple reads best next to returns and free cash flow, each against the industry's own history.

For banks, insurers and other financials, operating income and cash flow aren't comparable with other companies. Read these percentiles against the industry's own history rather than against other industries.

Against its own history

Each chart is the industry's median stock as a percentile of all investable US stocks, quarterly since 1999. For the Acquirer's Multiple and debt to equity, lower is better. The shaded band is its usual range (the middle 80% of quarters); the dashed line is its long-run median; the dot is today. Green shading marks the better end of each scale and red the worse, and today's dot takes the colour of where it sits.

Acquirer's MultipleUsual rangePercentile of enterprise value ÷ operating income: lower is cheaper. Dearer than in 55% of quarters since 1999.

Free cash flow yieldNear its highestPercentile of free cash flow yield: higher is a bigger yield. Higher than in 92% of quarters since 1999.

Shareholder yieldUsual rangeDividends plus buybacks, as a percentile: higher is a bigger yield. Lower than in 50% of quarters since 1999.

Dividend yieldUsual rangePercentile of dividend yield: higher is a bigger yield. Lower than in 65% of quarters since 1999.

Return on assets, 5-yrBetter than usualPercentile of five-year return on assets: higher is better. Higher than in 88% of quarters since 1999.

Debt to equityLeast debt on recordPercentile of debt to equity: lower is less debt. Less indebted than in 95% of quarters since 1999.

Company sizeUsual rangePercentile of market cap: higher is larger. Smaller than in 64% of quarters since 1999.

Real Estate Investment and Services stocks in the screens today

In today's screens, cheapest first. ● marks one of a screen's 30 tracked picks.

Stock	Screen	Acquirer's Multiple	FCF yield	Shareholder yield

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Other Finance industries

Specialty Finance cheaper than 86%United States Banks cheaper than 86%Mortgage Banking cheaper than 84%Insurance cheaper than 75%Real Estate Investment Trusts (REITs) cheaper than 62%International Banks dearer than 61%Finance Software and Services dearer than 67%Investment Services dearer than 68%

Quarterly since 1999 from point-in-time data. Each quarter, every investable US stock (price above $3, market cap above $75M, average daily trading above $850,000, no OTC, ADRs or MLPs) is placed in a percentile (0-100) against all the others on each metric. An industry's value is the median percentile of its stocks. Industries follow FactSet's RBICS classification. Percentiles describe the past; they are not investment advice or a forecast.