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We’ve all heard the narrative: the "SaaS-pocalypse" is here, and AI agents are going to destroy software seat usage. I hold the conflicting belief that the market usually knows more than I do, but I wanted to see the physical reality. I got tired of Wall Street's "Adjusted EBITDA" nonsense, so I wrote a Python script to ingest 15 years of SEC filings for 1,400 stocks. I calculated True Free Cash Flow (Operating Cash Flow minus CapEx minus Stock-Based Compensation) to see who is actually printing physical cash, and whose moat is eroding. I cross-referenced True FCF Yield against 5-year FCF compounding and margin expansion. Here are the three most violent macroeconomic divergences in the market right now: 1. The Screaming Buy: Workday ($WDAY) The stock is down -50% over the last year. Wall Street thinks the HR software cycle is dead. But the math says they are yielding 7%, and they compounded Free Cash Flow at 40% a year for the last 5 years. The physical moat is completely intact, and you are getting it for half price. 2. The Value Trap: Gen Digital ($GEN) It screens at the very top of my list with a mouth-watering 18% FCF yield. But the script flagged a terminal decline

38 pts · 55 comments · u/JoeInOR · 2026-04-27 20:58 UTC