U.S. market valuation snapshot
How covered U.S. stocks are priced against Equity Rank's blended model fair value estimate, recomputed after every market close. Free to quote with a link.
41% of the 2,402 U.S. stocks Equity Rank covers are priced below the model's fair value estimate, as of October 28, 2026. Among the 64 largest companies ($200B and up) the share is 17%, against 54% for small caps.
Model output under stated assumptions. Not investment advice and not a forecast.
By company size
| Size | Stocks | Priced below estimate | 20%+ below | 20%+ above | Median differential | Cap-weighted differential |
|---|---|---|---|---|---|---|
| All covered stocks | 2,402 | 41% | 16% | 27% | -4.5% | -22.6% |
| Mega cap ($200B and up) | 64 | 17% | 5% | 58% | -23.5% | -28.8% |
| Large cap ($10B to $200B) | 693 | 28% | 9% | 36% | -11.5% | -14.5% |
| Mid cap ($2B to $10B) | 870 | 42% | 15% | 27% | -3.7% | -7.2% |
| Small cap ($300M to $2B) | 725 | 54% | 25% | 18% | +3.1% | +2.0% |
| Micro cap (under $300M) | 50 | 60% | 34% | 16% | +12.0% | +7.4% |
By sector
Sorted by median differential. Sectors with fewer than 10 covered stocks are left out.
| Sector | Stocks | Priced below estimate | 20%+ below | 20%+ above | Median differential | Cap-weighted differential |
|---|---|---|---|---|---|---|
| Materials | 52 | 69% | 35% | 2% | +15.4% | +13.0% |
| Real Estate | 138 | 70% | 32% | 8% | +10.4% | -5.0% |
| Heavy Machinery | 14 | 71% | 21% | 14% | +8.2% | -21.9% |
| Streaming | 16 | 56% | 25% | 19% | +6.3% | +8.1% |
| Financials | 64 | 56% | 19% | 20% | +5.4% | -14.6% |
| Mortgage REIT | 20 | 65% | 15% | 0% | +5.1% | -5.2% |
| Specialty Chemicals | 34 | 53% | 24% | 24% | +4.8% | -19.8% |
| Consumer Discretionary | 78 | 60% | 37% | 17% | +4.6% | -8.9% |
| Mining | 29 | 59% | 28% | 24% | +2.7% | -5.2% |
| Communication Services | 20 | 55% | 30% | 30% | +1.1% | +12.0% |
| Insurance | 79 | 51% | 32% | 23% | +0.7% | -3.5% |
| Freight | 24 | 50% | 4% | 25% | 0.0% | -18.1% |
| Industrials | 223 | 46% | 17% | 16% | -0.6% | -16.3% |
| Consumer Staples | 58 | 47% | 21% | 17% | -0.9% | -10.0% |
| Beverages | 16 | 44% | 12% | 25% | -1.2% | -4.1% |
| Drug Manufacturer | 12 | 50% | 17% | 8% | -1.5% | -14.0% |
| Grocery | 13 | 38% | 8% | 38% | -2.4% | -33.4% |
| Banks | 233 | 42% | 3% | 9% | -2.9% | -16.6% |
| Automotive | 27 | 37% | 4% | 33% | -3.4% | -10.7% |
| Internet Platform | 24 | 46% | 29% | 42% | -3.9% | -43.1% |
| Asset Management | 91 | 43% | 18% | 31% | -4.0% | -17.0% |
| Energy — E&P | 16 | 31% | 6% | 6% | -4.1% | -5.8% |
| Energy | 132 | 44% | 19% | 24% | -4.3% | -3.7% |
| Aerospace & Defense | 42 | 40% | 24% | 24% | -4.4% | -11.8% |
| Gaming | 16 | 44% | 12% | 12% | -4.6% | -9.6% |
| Specialty Retail | 39 | 46% | 26% | 31% | -5.7% | -23.5% |
| Financial Data & Analytics | 10 | 40% | 20% | 20% | -6.0% | -15.1% |
| Medical Devices | 66 | 33% | 14% | 33% | -7.2% | -7.6% |
| E-Commerce | 15 | 40% | 7% | 20% | -7.5% | +2.5% |
| Advertising | 12 | 33% | 8% | 42% | -9.9% | -31.4% |
| Hardware | 44 | 20% | 7% | 27% | -11.0% | -28.7% |
| Restaurants | 28 | 29% | 21% | 25% | -12.3% | -19.7% |
| Protein Processing | 11 | 36% | 9% | 45% | -13.0% | -24.6% |
| Pharmaceuticals | 26 | 38% | 23% | 42% | -13.0% | -15.6% |
| Utilities | 74 | 22% | 3% | 36% | -13.5% | -18.7% |
| Biotechnology | 62 | 34% | 19% | 47% | -14.2% | -10.0% |
| Software | 141 | 25% | 15% | 41% | -14.4% | -24.1% |
| Staffing | 10 | 30% | 10% | 50% | -14.7% | -21.5% |
| Homebuilders | 18 | 17% | 0% | 44% | -16.8% | -26.3% |
| Auto Dealership | 14 | 29% | 7% | 43% | -17.3% | -34.0% |
| Technology | 22 | 32% | 14% | 45% | -18.1% | -22.2% |
| Medical Facilities | 26 | 23% | 4% | 46% | -18.4% | -15.8% |
| Life Sciences Tools | 41 | 20% | 5% | 49% | -18.7% | -24.5% |
| Fintech | 10 | 20% | 10% | 50% | -20.8% | -17.2% |
| IT Services | 41 | 10% | 2% | 56% | -24.7% | -35.8% |
| Managed Care | 25 | 20% | 12% | 52% | -25.0% | -11.0% |
| Semiconductors | 42 | 17% | 7% | 71% | -45.8% | -57.1% |
How to read and cite this
- Differential is (model fair value estimate − price) ÷ price, per stock. Positive means the stock is priced below the estimate.
- Cap-weighted differential compares a group's combined model value with its combined market value, so the largest companies count most.
- The estimate blends several valuation methods (discounted cash flow, earnings and book multiples, dividend discount, residual income and others), as documented on the methodology page. Multiples-based methods tend to sit below the prices of fast-growing companies, so the estimate is a reference point, not a verdict.
- Included: U.S.-listed, non-OTC stocks with a published estimate from the last four days of batches. Every figure can be rebuilt from the free stock-level file or the snapshot file.
Suggested citation:
Equity Rank, "U.S. market valuation snapshot," data as of October 28, 2026, https://www.equity-rank.com/market-valuation
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Equity Rank is not a registered investment adviser. Every figure on this page is algorithmic model output under stated assumptions, for informational and educational purposes only: not investment advice, not a target price, and not a forecast of results.