FCF growth
We backtested FCF growth stocks across NYSE, NASDAQ, AMEX from 2000 to 2025. The strategy absorbs crashes at half the rate of SPY (50.6% down capture) but trails on absolute return (5.98% vs 7.83% CAGR). Honest results from a 25-year run.
FCF growth
$10,000 grew to $327,183 over 25 years using a free cash flow growth screen on Indian stocks. 14.97% CAGR, +7.14% above SPY, and a 2.85% down capture ratio that barely moved during global bear markets.
FCF growth
German FCF growth stocks outperformed the S&P 500 over 25 years — the only European exchange in our 13-market study to do so. 8.33% CAGR vs 7.83% SPY, with 97% up capture and 60% down capture. Modest edge, consistent protection.
FCF growth
We ran the same FCF growth screen across 13 exchanges over 25 years. Only 3 beat SPY on CAGR. The real story is in the down capture column — the signal works as a downside shield across most markets even where it fails to generate alpha.
FCF growth
Canada is the only market in our 13-exchange FCF growth study where the strategy produces both positive alpha (+0.54% excess CAGR) and negative down capture (-15.44%) simultaneously. When SPY had a down year, this portfolio averaged a small gain.