We relied on Thomson Reuters' calculation of free cash flow per share, defined as cash from operations for the latest reported year, minus that year's capital expenditures and dividend payments, divided by shares outstanding. The result is a list of familiar names in technology, health care and manufacturing, as well as three oilfield-services companies knocked well off their highs, and, yes, a few healthy financial-services firms. Blue chips like Coca-Cola (KO), Microsoft (MSFT) and Merck (MRK) made the cut, as did Illinois Tool Works (ITW), Post-it-note producer 3M (MMM) and CME Group (CME), the Chicago-based operator of futures exchanges.

We relied on Thomson Reuters' calculation of free cash flow per share, defined as cash from operations for the latest reported year, minus that year's capital expenditures and dividend payments, divided by shares outstanding. The result is a list of familiar names in technology, health care and manufacturing, as well as three oilfield-services companies knocked well off their highs, and, yes, a few healthy financial-services firms. Blue chips like Coca-Cola (KO), Microsoft (MSFT) and Merck (MRK) made the cut, as did Illinois Tool Works (ITW), Post-it-note producer 3M (MMM) and CME Group (CME), the Chicago-based operator of futures exchanges.

We relied on Thomson Reuters' calculation of free cash flow per share, defined as cash from operations for the latest reported year, minus that year's capital expenditures and dividend payments, divided by shares outstanding. The result is a list of familiar names in technology, health care and manufacturing, as well as three oilfield-services companies knocked well off their highs, and, yes, a few healthy financial-services firms. Blue chips like Coca-Cola (KO), Microsoft (MSFT) and Merck (MRK) made the cut, as did Illinois Tool Works (ITW), Post-it-note producer 3M (MMM) and CME Group (CME), the Chicago-based operator of futures exchanges.

We relied on Thomson Reuters' calculation of free cash flow per share, defined as cash from operations for the latest reported year, minus that year's capital expenditures and dividend payments, divided by shares outstanding. The result is a list of familiar names in technology, health care and manufacturing, as well as three oilfield-services companies knocked well off their highs, and, yes, a few healthy financial-services firms. Blue chips like Coca-Cola (KO), Microsoft (MSFT) and Merck (MRK) made the cut, as did Illinois Tool Works (ITW), Post-it-note producer 3M (MMM) and CME Group (CME), the Chicago-based operator of futures exchanges.

We relied on Thomson Reuters' calculation of free cash flow per share, defined as cash from operations for the latest reported year, minus that year's capital expenditures and dividend payments, divided by shares outstanding. The result is a list of familiar names in technology, health care and manufacturing, as well as three oilfield-services companies knocked well off their highs, and, yes, a few healthy financial-services firms. Blue chips like Coca-Cola (KO), Microsoft (MSFT) and Merck (MRK) made the cut, as did Illinois Tool Works (ITW), Post-it-note producer 3M (MMM) and CME Group (CME), the Chicago-based operator of futures exchanges.

We relied on Thomson Reuters' calculation of free cash flow per share, defined as cash from operations for the latest reported year, minus that year's capital expenditures and dividend payments, divided by shares outstanding. The result is a list of familiar names in technology, health care and manufacturing, as well as three oilfield-services companies knocked well off their highs, and, yes, a few healthy financial-services firms. Blue chips like Coca-Cola (KO), Microsoft (MSFT) and Merck (MRK) made the cut, as did Illinois Tool Works (ITW), Post-it-note producer 3M (MMM) and CME Group (CME), the Chicago-based operator of futures exchanges.

The question is whether now's the time to buy. Some of the 25, including cigarette maker Altria Group (MO) and investment manager T. Rowe Price (TROW), are less attractive because they have fallen less than 5% in the past 12 months, yet investors know they can weather a downturn.

The question is whether now's the time to buy. Some of the 25, including cigarette maker Altria Group (MO) and investment manager T. Rowe Price (TROW), are less attractive because they have fallen less than 5% in the past 12 months, yet investors know they can weather a downturn.