DCF-based fair value for major US index components
Weighted-average intrinsic value based on DCF analysis of index components · Updated Apr 15, 2026
The estimated intrinsic value of NASDAQ-100 (QQQ) is $876, compared to the current ETF price of $628.57. This represents a +39.4% upside, suggesting the index is currently undervalued.
This valuation is based on a weighted DCF (Discounted Cash Flow) analysis of 98 component stocks out of 101 total holdings, covering 99.3% of the index weight. Each component's intrinsic value is calculated using a 20-year DCF model with analyst EPS growth estimates and CAPM-derived discount rates.
Methods: OCF = Operating Cash Flow, FCF = Free Cash Flow, NI = Net Income. Data for informational purposes only. Not investment advice.
| # | Symbol | Weight | Price | Intrinsic Value | Upside | Growth g1 | Method |
|---|---|---|---|---|---|---|---|
| 1 |
NVDA
NVIDIA Corporation
|
8.67% | $196.46 | $188 | -4.1% | 21.0% | Op. Cash Flow |
| 2 |
AAPL
Apple Inc.
|
7.42% | $258.83 | $235 | -9.3% | 10.6% | Op. Cash Flow |
| 3 |
MSFT
Microsoft Corporation
|
5.37% | $393.11 | $912 | +131.9% | 17.9% | Op. Cash Flow |
| 4 |
AMZN
Amazon.com, Inc.
|
4.87% | $248.97 | $286 | +15.0% | 18.5% | Net Income |
| 5 |
GOOGL
Alphabet Inc.
|
3.60% | $332.91 | $478 | +43.5% | 15.3% | Op. Cash Flow |
| 6 |
META
Meta Platforms, Inc.
|
3.59% | $662.46 | $686 | +3.6% | 17.2% | Free Cash Flow |
| 7 |
WMT
Walmart Inc.
|
3.38% | $125.05 | $41.0 | -67.2% | 8.6% | Free Cash Flow |
| 8 |
TSLA
Tesla, Inc.
|
3.35% | $364.16 | $650 | +78.5% | 54.1% | Free Cash Flow |
| 9 |
GOOG
Alphabet Inc.
|
3.34% | $330.59 | $478 | +44.5% | 15.3% | Op. Cash Flow |
| 10 |
AVGO
Broadcom Inc.
|
3.26% | $380.73 | $338 | -11.3% | 23.0% | Op. Cash Flow |
| 11 |
MU
Micron Technology, Inc.
|
2.54% | $465.66 | $930 | +99.7% | 17.1% | Op. Cash Flow |
| 12 |
COST
Costco Wholesale Corporation
|
2.45% | $974.80 | $498 | -49.0% | 8.6% | Free Cash Flow |
| 13 |
NFLX
Netflix, Inc.
|
2.31% | $106.24 | $77.6 | -26.9% | 17.0% | Op. Cash Flow |
| 14 |
AMD
Advanced Micro Devices, Inc.
|
2.07% | $255.04 | $396 | +55.1% | 39.4% | Net Income |
| 15 |
CSCO
Cisco Systems, Inc.
|
1.76% | $82.61 | $160 | +93.4% | 18.4% | Op. Cash Flow |
| 16 |
LRCX
Lam Research Corporation
|
1.73% | $272.32 | $219 | -19.8% | 19.3% | Op. Cash Flow |
| 17 |
AMAT
Applied Materials, Inc.
|
1.69% | $395.64 | $371 | -6.2% | 17.3% | Op. Cash Flow |
| 18 |
INTC
Intel Corporation
|
1.65% | $63.81 | $1,747 | +2,638.0% | 80.0% | Op. Cash Flow |
| 19 |
PLTR
Palantir Technologies Inc.
|
1.60% | $135.68 | $377 | +178.0% | 60.7% | Op. Cash Flow |
| 20 |
LIN
Linde plc
|
1.25% | $499.65 | $269 | -46.2% | 10.9% | Free Cash Flow |
| 21 |
KLAC
KLA Corporation
|
1.21% | $1,795.91 | $1,278 | -28.8% | 17.2% | Op. Cash Flow |
| 22 |
TMUS
T-Mobile US, Inc.
|
1.17% | $190.00 | $624 | +228.4% | 15.7% | Free Cash Flow |
| 23 |
PEP
PepsiCo, Inc.
|
1.15% | $155.70 | $220 | +41.5% | 8.9% | Op. Cash Flow |
| 24 |
TXN
Texas Instruments Incorporated
|
1.04% | $218.87 | $302 | +38.0% | 16.5% | Op. Cash Flow |
| 25 |
AMGN
Amgen Inc.
|
1.03% | $350.95 | $457 | +30.3% | 9.7% | Op. Cash Flow |
| 26 |
GILD
Gilead Sciences, Inc.
|
0.94% | $140.45 | $262 | +86.7% | 11.7% | Op. Cash Flow |
| 27 |
ADI
Analog Devices, Inc.
|
0.92% | $348.60 | $559 | +60.3% | 30.8% | Net Income |
| 28 |
ISRG
Intuitive Surgical, Inc.
|
0.87% | $467.22 | $259 | -44.5% | 14.3% | Op. Cash Flow |
| 29 |
HON
Honeywell International Inc.
|
0.80% | $233.24 | $278 | +19.0% | 12.5% | Op. Cash Flow |
| 30 |
BKNG
Booking Holdings Inc.
|
0.75% | $181.12 | $4,692 | +2,490.5% | 12.8% | Net Income |
| 31 |
SHOP
Shopify Inc.
|
0.74% | $117.62 | $89.5 | -24.0% | 30.9% | Net Income |
| 32 |
PANW
Palo Alto Networks, Inc.
|
0.73% | $161.59 | $115 | -28.7% | 20.6% | Net Income |
| 33 |
QCOM
QUALCOMM Incorporated
|
0.73% | $132.84 | $198 | +48.8% | 18.4% | Net Income |
| 34 |
ASML
ASML Holding N.V.
|
0.68% | $1,518.30 | $1,501 | -1.2% | 18.4% | Op. Cash Flow |
| 35 |
APP
AppLovin Corporation
|
0.62% | $433.58 | $895 | +106.5% | 29.4% | Op. Cash Flow |
| 36 |
WDC
Western Digital Corporation
|
0.61% | $366.22 | $796 | +117.4% | 34.5% | Op. Cash Flow |
| 37 |
VRTX
Vertex Pharmaceuticals Incorporated
|
0.61% | $444.28 | $646 | +45.3% | 15.1% | Op. Cash Flow |
| 38 |
SBUX
Starbucks Corporation
|
0.59% | $98.47 | $106 | +8.1% | 23.1% | Free Cash Flow |
| 39 |
STX
Seagate Technology Holdings plc
|
0.58% | $533.44 | $1,964 | +268.2% | 45.2% | Op. Cash Flow |
| 40 |
MRVL
Marvell Technology, Inc.
|
0.56% | $133.80 | $140 | +4.8% | 28.1% | Op. Cash Flow |
| 41 |
CMCSA
Comcast Corporation
|
0.54% | $28.14 | $71.9 | +155.6% | 2.5% | Free Cash Flow |
| 42 |
CEG
Constellation Energy Corporation
|
0.54% | $296.61 | $53.0 | -82.1% | 4.0% | Net Income |
| 43 |
INTU
Intuit Inc.
|
0.54% | $366.80 | $635 | +73.2% | 18.4% | Net Income |
| 44 |
CRWD
CrowdStrike Holdings, Inc.
|
0.53% | $398.49 | $365 | -8.5% | 21.6% | Op. Cash Flow |
| 45 |
ADBE
Adobe Inc.
|
0.50% | $235.72 | $595 | +152.4% | 11.8% | Op. Cash Flow |
| 46 |
MAR
Marriott International, Inc.
|
0.50% | $366.70 | $303 | -17.3% | 13.1% | Op. Cash Flow |
| 47 |
MELI
MercadoLibre, Inc.
|
0.49% | $1,840.66 | $4,159 | +125.9% | 33.9% | Net Income |
| 48 |
REGN
Regeneron Pharmaceuticals, Inc.
|
0.43% | $755.51 | $1,711 | +126.5% | 11.7% | Op. Cash Flow |
| 49 |
ORLY
O'Reilly Automotive, Inc.
|
0.42% | $93.52 | $72.5 | -22.5% | 8.1% | Op. Cash Flow |
| 50 |
CSX
CSX Corporation
|
0.42% | $42.51 | $14.0 | -67.0% | 10.7% | Free Cash Flow |
| 51 |
ADP
Automatic Data Processing, Inc.
|
0.42% | $195.08 | $280 | +43.7% | 8.9% | Op. Cash Flow |
| 52 |
CDNS
Cadence Design Systems, Inc.
|
0.42% | $292.37 | $199 | -32.0% | 19.5% | Net Income |
| 53 |
SNPS
Synopsys, Inc.
|
0.42% | $418.80 | $470 | +12.1% | 26.7% | Net Income |
| 54 |
MDLZ
Mondelez International, Inc.
|
0.41% | $57.84 | $70.8 | +22.4% | 11.8% | Free Cash Flow |
| 55 |
MNST
Monster Beverage Corporation
|
0.40% | $75.05 | $74.1 | -1.2% | 11.4% | Op. Cash Flow |
| 56 |
AEP
American Electric Power Company, Inc.
|
0.40% | $135.46 | $125 | -7.5% | 4.0% | Net Income |
| 57 |
ROST
Ross Stores, Inc.
|
0.39% | $223.29 | $212 | -5.0% | 8.1% | Op. Cash Flow |
| 58 |
CTAS
Cintas Corporation
|
0.37% | $176.14 | $151 | -14.4% | 12.0% | Op. Cash Flow |
| 59 |
WBD
Warner Bros. Discovery, Inc.
|
0.37% | $27.37 | $8.53 | -68.8% | 1.0% | Op. Cash Flow |
| 60 |
PDD
PDD Holdings Inc.
|
0.36% | $102.10 | $363 | +255.8% | 9.1% | Op. Cash Flow |
| 61 |
PCAR
PACCAR Inc
|
0.36% | $125.42 | $188 | +50.3% | 12.5% | Free Cash Flow |
| 62 |
MPWR
Monolithic Power Systems, Inc.
|
0.35% | $1,363.42 | $847 | -37.9% | 21.3% | Op. Cash Flow |
| 63 |
DASH
DoorDash, Inc.
|
0.34% | $163.53 | $350 | +113.8% | 40.9% | Net Income |
| 64 |
BKR
Baker Hughes Company
|
0.34% | $61.49 | $83.1 | +35.1% | 7.4% | Op. Cash Flow |
| 65 |
FTNT
Fortinet, Inc.
|
0.32% | $78.69 | $64.2 | -18.4% | 4.6% | Op. Cash Flow |
| 66 |
FAST
Fastenal Company
|
0.30% | $44.62 | $24.6 | -44.9% | 7.1% | Op. Cash Flow |
| 67 |
ABNB
Airbnb, Inc.
|
0.29% | $133.85 | $173 | +29.2% | 17.1% | Net Income |
| 68 |
FANG
Diamondback Energy, Inc.
|
0.28% | $186.51 | $577 | +209.5% | 11.9% | Free Cash Flow |
| 69 |
NXPI
NXP Semiconductors N.V.
|
0.28% | $209.89 | $715 | +240.5% | 26.5% | Op. Cash Flow |
| 70 |
XEL
Xcel Energy Inc.
|
0.28% | $79.83 | $76.8 | -3.9% | 4.0% | Net Income |
| 71 |
EA
Electronic Arts Inc.
|
0.27% | $202.85 | $140 | -31.0% | 19.1% | Net Income |
| 72 |
EXC
Exelon Corporation
|
0.27% | $48.61 | $54.0 | +11.1% | 4.0% | Net Income |
| 73 |
ADSK
Autodesk, Inc.
|
0.26% | $228.59 | $328 | +43.5% | 25.4% | Net Income |
| 74 |
IDXX
IDEXX Laboratories, Inc.
|
0.25% | $584.05 | $395 | -32.4% | 14.1% | Op. Cash Flow |
| 75 |
CCEP
Coca-Cola Europacific Partners PLC
|
0.24% | $96.43 | $202 | +109.6% | 11.4% | Op. Cash Flow |
| 76 |
ODFL
Old Dominion Freight Line, Inc.
|
0.23% | $210.41 | $201 | -4.7% | 13.7% | Op. Cash Flow |
| 77 |
ALNY
Alnylam Pharmaceuticals, Inc.
|
0.23% | $339.41 | $569 | +67.8% | 32.3% | Op. Cash Flow |
| 78 |
PYPL
PayPal Holdings, Inc.
|
0.23% | $47.98 | $63.3 | +32.0% | 19.5% | Net Income |
| 79 |
MSTR
Strategy Inc
|
0.22% | $137.41 | $276 | +100.9% | 1.0% | Free Cash Flow |
| 80 |
MCHP
Microchip Technology Incorporated
|
0.21% | $74.53 | $161 | +116.0% | 32.7% | Op. Cash Flow |
| 81 |
TRI.TO
Thomson Reuters Corporation
|
0.20% | $115.28 | $143 | +24.4% | 10.9% | Free Cash Flow |
| 82 |
TTWO
Take-Two Interactive Software, Inc.
|
0.20% | $205.10 | $257 | +25.1% | 24.3% | Op. Cash Flow |
| 83 |
ROP
Roper Technologies, Inc.
|
0.19% | $354.01 | $513 | +44.8% | 16.4% | Net Income |
| 84 |
KDP
Keurig Dr Pepper Inc.
|
0.19% | $26.02 | $56.8 | +118.1% | 15.8% | Op. Cash Flow |
| 85 |
DDOG
Datadog, Inc.
|
0.19% | $110.57 | $27.8 | -74.9% | 25.4% | Net Income |
| 86 |
GEHC
GE HealthCare Technologies Inc.
|
0.18% | $74.67 | $95.1 | +27.4% | 11.1% | Op. Cash Flow |
| 87 |
CPRT
Copart, Inc.
|
0.17% | $33.29 | $35.9 | +7.8% | 4.6% | Op. Cash Flow |
| 88 |
PAYX
Paychex, Inc.
|
0.17% | $88.85 | $164 | +84.8% | 10.0% | Op. Cash Flow |
| 89 |
CTSH
Cognizant Technology Solutions Corporation
|
0.15% | $60.04 | $130 | +116.9% | 7.6% | Op. Cash Flow |
| 90 |
AXON
Axon Enterprise, Inc.
|
0.15% | $380.86 | $217 | -43.0% | 50.1% | Free Cash Flow |
| 91 |
CHTR
Charter Communications, Inc.
|
0.15% | $215.57 | $275 | +27.6% | 11.0% | Net Income |
| 92 |
KHC
The Kraft Heinz Company
|
0.15% | $22.11 | $48.1 | +117.7% | 1.8% | Op. Cash Flow |
| 93 |
DXCM
DexCom, Inc.
|
0.14% | $62.95 | $98.3 | +56.1% | 17.9% | Free Cash Flow |
| 94 |
WDAY
Workday, Inc.
|
0.13% | $117.86 | $198 | +68.4% | 26.0% | Net Income |
| 95 |
VRSK
Verisk Analytics, Inc.
|
0.13% | $170.63 | $233 | +36.3% | 11.2% | Free Cash Flow |
| 96 |
ARM
Arm Holdings plc American Depositary Shares
|
0.11% | $161.22 | $99.7 | -38.1% | 34.2% | Free Cash Flow |
| 97 |
ZS
Zscaler, Inc.
|
0.11% | $122.68 | $127 | +3.7% | 4.0% | Op. Cash Flow |
| 98 |
CSGP
CoStar Group, Inc.
|
0.08% | $37.60 | $13.6 | -63.8% | 0.8% | Free Cash Flow |
| 99 |
TEAM
Atlassian Corporation
|
0.05% | $59.71 | $19.4 | -67.5% | 17.8% | Net Income |
