Rankings · Price against the business
Most free cash flow per dollar of price
Graded A or B, ranked by free cash flow over the last twelve months divided by market value. Banks and insurers are left out, and yields above 50% are treated as data problems rather than bargains.
54 companies meet this test
Figures as of October 1, 2026
| # | Company | Grade | Free cash flow yield | P/E | Revenue growth | Market value |
|---|---|---|---|---|---|---|
| 1 | NMRKNEWMARK GROUP, INC. | A | 25.2% | 15.58 | +15% a year | $3.2B |
| 2 | FORFORESTAR GROUP INC. | A | 21.3% | 7.81 | +11% a year | $1.3B |
| 3 | HHHHOWARD HUGHES HOLDINGS INC. | A+ | 16.6% | 15.29 | +20% a year | $4.5B |
| 4 | BXPBXP, INC. | A | 11.6% | 33.20 | +3% a year | $9.9B |
| 5 | GNLGlobal Net Lease, Inc. | B | 11.4% | — | +7% a year | $1.8B |
| 6 | VICIVICI Properties Inc. | A | 10.3% | 9.03 | +8% a year | $25.5B |
| 7 | RLJRLJ LODGING TRUST | A | 10.3% | 258.21 | +2% a year | $1.7B |
| 8 | PEBPEBBLEBROOK HOTEL TRUST | A | 9.8% | — | +2% a year | $2.1B |
| 9 | ESRTEMPIRE STATE REALTY TRUST, INC. | B | 9.6% | 201.50 | +3% a year | $1.1B |
| 10 | CWKCushman & Wakefield Ltd. | B | 9.0% | 39.22 | +3% a year | $2.8B |
| 11 | HSTHOST HOTELS & RESORTS, INC. | A+ | 8.6% | 15.07 | +6% a year | $15.4B |
| 12 | CPTCAMDEN PROPERTY TRUST | B+ | 8.3% | 32.60 | +1% a year | $9.9B |
| 13 | CDPCOPT DEFENSE PROPERTIES | A+ | 8.2% | 23.84 | +4% a year | $3.9B |
| 14 | GTYGETTY REALTY CORP. | A+ | 7.8% | 17.27 | — | $1.8B |
| 15 | JLLJONES LANG LASALLE INC | A | 7.8% | 14.91 | +10% a year | $14.3B |
| 16 | MMIMARCUS & MILLICHAP, INC. | B | 7.7% | 78.35 | -4% a year | $1.1B |
| 17 | OREALTY INCOME CORPORATION | A+ | 7.7% | 39.99 | +18% a year | $52.2B |
| 18 | APLEAPPLE HOSPITALITY REIT, INC. | B+ | 7.6% | 22.00 | +3% a year | $3.8B |
| 19 | INVHInvitation Homes Inc. | A | 7.5% | 24.38 | +7% a year | $15.7B |
| 20 | AMHAMERICAN HOMES 4 RENT | B+ | 7.4% | 24.35 | +6% a year | $11.1B |
| 21 | KIMKIMCO REALTY CORPORATION | A+ | 7.3% | — | +8% a year | $15B |
| 22 | VTMXVesta Real Estate Corporation, S.A.B. de C.V. | A+ | 7.2% | 11.55 | — | $2.9B |
| 23 | BNLBroadstone Net Lease, Inc. | B+ | 7.1% | 24.83 | +2% a year | $3.6B |
| 24 | AATAMERICAN ASSETS TRUST, INC. | B | 7.1% | 73.55 | +1% a year | $1.3B |
| 25 | CUBECUBESMART | A+ | 6.9% | 26.50 | +3% a year | $8.6B |
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A ranking orders companies by one stated measure. It is not a recommendation, and it says nothing about whether any share price is reasonable.