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Do you prefer stocks that pay handsome dividend income? For a closer look at dividend stocks of the large-cap sector, we ran a screen.

We began by screening the large-cap sector for stocks paying dividend yields above 2% and sustainable payout ratios below 50%.

We then screened for those stocks that appear undervalued relative to their cash flows, indicated by high ratios of 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. When companies have ratios of levered free cash flow/enterprise value in excess of 10%, it may indicate that the company as a whole is being undervalued.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall. More investing ideas on Kapitall Wire.

Do you think these stocks should be trading higher? Use this list as a starting point for your own analysis.

List sorted by LFCF/EV.

1. AstraZeneca PLC (AZN): Develops, and commercializes prescription medicines for cardiovascular, gastrointestinal, infection, neuroscience, oncology, and respiratory and inflammation diseases worldwide. Market cap at $60.23B, most recent closing price at $48.02. Dividend yield at 5.92%, payout ratio at 44.47%. Levered free cash flow at $9.00B vs. enterprise value at $60.82B (implies a LFCF/EV ratio at 14.8%).

2. Statoil ASA (STO): Engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products. Market cap at $77.64B, most recent closing price at $24.43. Dividend yield at 4.37%, payout ratio at 26.71%. Levered free cash flow at $11.60B vs. enterprise value at $83.52B (implies a LFCF/EV ratio at 13.89%).

3. Seagate Technology PLC (STX): Designs, manufactures, markets, and sells hard disk drives for the enterprise, client compute, and client non-compute market applications in the United States and internationally. Market cap at $13.16B, most recent closing price at $31.0. Dividend yield at 4.01%, payout ratio at 13.06%. Levered free cash flow at $1.60B vs. enterprise value at $13.46B (implies a LFCF/EV ratio at 11.89%).

4. Microsoft Corporation (MSFT): Develops, licenses, and supports a range of software products and services for various computing devices worldwide. Market cap at $249.41B, most recent closing price at $29.94. Dividend yield at 2.67%, payout ratio at 39.58%. Levered free cash flow at $23.62B vs. enterprise value at $200.14B (implies a LFCF/EV ratio at 11.8%).

5. CA Technologies (CA): Designs, develops, markets, delivers, licenses, and supports information technology (IT) management software products that operate on a range of hardware platforms and operating systems. Market cap at $11.63B, most recent closing price at $24.78. Dividend yield at 3.99%, payout ratio at 30.46%. Levered free cash flow at $1.13B vs. enterprise value at $10.37B (implies a LFCF/EV ratio at 10.9%).

6. General Dynamics Corp. (GD): Provides business aviation, combat vehicles, weapons systems and munitions, military and commercial shipbuilding, and communications and information technology products and services worldwide. Market cap at $22.26B, most recent closing price at $63.31. Dividend yield at 3.24%, payout ratio at 28.33%. Levered free cash flow at $2.54B vs. enterprise value at $23.65B (implies a LFCF/EV ratio at 10.74%).

7. Raytheon Co. (RTN): Provides electronics, mission systems integration, and other capabilities in the areas of sensing, effects, and command, control, communications, and intelligence systems, as well as mission support services in the United States and internationally. Market cap at $18.33B, most recent closing price at $55.43. Dividend yield at 3.61%, payout ratio at 31.86%. Levered free cash flow at $2.10B vs. enterprise value at $20.03B (implies a LFCF/EV ratio at 10.48%).

8. Accenture plc (ACN): Operates as a management consulting, technology services, and outsourcing company. Market cap at $41.81B, most recent closing price at $61.19. Dividend yield at 2.23%, payout ratio at 35.43%. Levered free cash flow at $3.36B vs. enterprise value at $32.68B (implies a LFCF/EV ratio at 10.28%).

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

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 8 Large-Cap Dividend Stocks Undervalued By Levered Free Cash Flows