GlobalFoundries (GFS) stock is down 35% over the past month, and down 23% over the trailing three months against a 3.9% gain for the S&P 500. This one is not: at about $50 a share, for a market capitalization near $27.8 billion, it trades at 35.7 times earnings against 23.9 for the S&P 500. On cash flow, the same stock is cheaper than the index. So Why Is It Cheaper Than The Market On Cash Flow? Sales carry a premium too: 4.1 times revenue against 3.4 for the S&P 500.