Sector Report4 min read
Technology: 22 A-Grades Hiding 12 Declining Trends
Tech sector prints 15.9% median FCF margin with the best grade distribution we track. But 12 of 38 companies are moving the wrong direction.
Jun 19, 2026
NVDAADIADBEPLTR+11
Technology companies including software, hardware, semiconductors, and cloud services
Sector classifications follow the GICS industry standard.
Companies ranked by free cash flow margin
Health grades across the sector
| # | Symbol | Grade | FCF Margin |
|---|---|---|---|
| 1 | NVDA | A | 41.8% |
| 2 | ADI | A | 35.9% |
| 3 | ADBE | A | 33.3% |
| 4 | PLTR | A | 31.7% |
| 5 | AVGO | A | 30.3% |
| 6 | VEEV | A | 29.5% |
| 7 | FTNT | A | 28.6% |
| 8 | KLAC | A | 28.6% |
| 9 | LRCX | A | 27.5% |
| 10 | CRM | A | 26.2% |
| 11 | ZM | A | 23.9% |
| 12 | PANW | A | 23.6% |
| 13 | QCOM | A | 22.7% |
| 14 | CDNS | A | 21.4% |
| 15 | MSFT | A | 21.2% |
| 16 | AAPL | A | 20.6% |
| 17 | NOW | A | 19.4% |
| 18 | AMAT | A | 17.7% |
| 19 | CSCO | C | 17.0% |
| 20 | NXPI | A | 14.8% |
| 21 | AMD | A | 14.7% |
| 22 | IBM | C | 14.4% |
| 23 | SHOP | A | 13.5% |
| 24 | ACN | A | 12.6% |
| 25 | TXN | B | 12.4% |
| 26 | WDAY | B | 12.0% |
| 27 | OKTA | A | 10.9% |
| 28 | MRVL | C | 9.8% |
| 29 | SNPS | F | 6.5% |
| 30 | DDOG | F | 4.8% |
| 31 | CRWD | F | 3.0% |
| 32 | ZS | F | 2.4% |
| 33 | MU | F | 1.9% |
| 34 | TEAM | F | 1.0% |
| 35 | NET | D | -8.8% |
| 36 | SNOW | F | -10.3% |
| 37 | INTC | F | -14.0% |
| 38 | ORCL | F | -42.3% |
Tech sector prints 15.9% median FCF margin with the best grade distribution we track. But 12 of 38 companies are moving the wrong direction.
Tech splits clean down the middle: elite cash generators versus companies burning through it. The median tells you which group matters.
Tech sector shows strongest fundamentals across all sectors. Three names burning cash while everyone else prints it.