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Do you prefer the largest cap stocks? Large-cap stocks are more established companies that often pay dividend yields. For ideas on how to start your search, we ran a screen.

We began by screening for the 200 largest US-traded companies by market cap, which we refer to as "mega-cap stocks," and then screened for those that appear undervalued relative to the ratio levered free cash flow/enterprise value.

Levered free cash flow is the free cash flow after deducting interest payments on outstanding debt. Enterprise value is the sum of the firm's value from all ownership sources: market cap, outstanding debt, and preferred shares. The higher the ratio, the more undervalued the company appears.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think these stocks are undervalued? Use this list as a starting point for your own analysis.

1. AstraZeneca PLC (NYSE:AZN): Develops, and commercializes prescription medicines for cardiovascular, gastrointestinal, infection, neuroscience, oncology, and respiratory and inflammation diseases worldwide. Market cap at $63.79B. Levered free cash flow at $6.22B vs. enterprise value at $56.37B (implies a LFCF/EV ratio at 11.03%).

2. Comcast Corporation (NASDAQ:CMCSA): Provides entertainment, information, and communications products and services in the United States and internationally. Market cap at $79.82B. Levered free cash flow at $15.12B vs. enterprise value at $118.92B (implies a LFCF/EV ratio at 12.71%).

3. Cisco Systems, Inc. (NASDAQ:CSCO): Designs, manufactures, and sells Internet protocol-based networking and other products related to the communications and information technology industry worldwide. Market cap at $107.88B. Levered free cash flow at $9.39B vs. enterprise value at $79.07B (implies a LFCF/EV ratio at 11.88%).

4. Dell Inc. (NASDAQ:DELL): Provides integrated technology solutions in the information technology industry worldwide. Market cap at $30.48B. Levered free cash flow at $3.83B vs. enterprise value at $25.07B (implies a LFCF/EV ratio at 15.28%).

5. Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX): Engages in the exploration, mining, and production of mineral resources. Market cap at $36.57B. Levered free cash flow at $4.42B vs. enterprise value at $39.76B (implies a LFCF/EV ratio at 11.12%).

6. General Electric Co. (NYSE:GE): Operates as a technology, service, and finance company worldwide. Market cap at $213.69B. Levered free cash flow at $63.68B vs. enterprise value at $576.23B (implies a LFCF/EV ratio at 11.05%).

7. General Motors Company (NYSE:GM): Operates as a global automaker. Market cap at $40.04B. Levered free cash flow at $3.86B vs. enterprise value at $23.02B (implies a LFCF/EV ratio at 16.77%).

8. Eli Lilly & Co. (NYSE:LLY): Develops, manufactures, and sells pharmaceutical products worldwide. Market cap at $46.65B. Levered free cash flow at $5.07B vs. enterprise value at $44.58B (implies a LFCF/EV ratio at 11.37%).

9. Nippon Telegraph & Telephone Corp. (NYSE:NTT): Provides telecommunications services to residential and business customers in Japan. Market cap at $61.08B. Levered free cash flow at $9.68B vs. enterprise value at $68.76B (implies a LFCF/EV ratio at 14.08%).

10. Pfizer Inc. (NYSE:PFE): Offers prescription medicines for humans and animals worldwide. Market cap at $165.40B. Levered free cash flow at $20.90B vs. enterprise value at $178.21B (implies a LFCF/EV ratio at 11.73%).

11. Statoil ASA (NYSE:STO): Engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products. Market cap at $89.54B. Levered free cash flow at $11.79B vs. enterprise value at $101.70B (implies a LFCF/EV ratio at 11.59%).

12. Time Warner Inc. (NYSE:TWX): Operates as a media and entertainment company in the United States and internationally. Market cap at $34.82B. Levered free cash flow at $10.80B vs. enterprise value at $51.13B (implies a LFCF/EV ratio at 21.12%).

*LFCF/EV data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: 12 Mega-Cap Stocks Undervalued By Levered Free Cash Flows