How many large US stocks became ten‑baggers in the last decade, the full list, how far each one fell along the way, and what the base rate means for anyone trying to pick one.
Among today’s largest US companies, about one in nine did it over the last decade. In Exent’s data, 47 of the 422 largest US stocks with a 10-year history rose 10x or more, with dividends reinvested, in the 10 years to Sep 30, 2026. Over the same period the S&P 500 index (SPY) returned 310.7%, which turned $1 into about $4.11.
That one-in-nine figure is the generous case. The list contains only companies that are large today, which is partly why they are large. Companies that shrank, were bought cheaply or went bankrupt are missing. Across all listed stocks, the long-run evidence is much harsher: Hendrik Bessembinder’s 2018 study in the Journal of Financial Economics found that most US stocks since 1926 returned less than one-month Treasury bills over their lifetimes.
Most large survivors at least doubled; very few multiplied 20 times or more. The share falls quickly as the bar rises.
| Outcome (10 years to Sep 30, 2026) | Large US stocks | Share of 422 |
|---|---|---|
| Lost money | 20 | 4.7% |
| At least doubled (2x) | 335 | 79.4% |
| Rose 5x or more | 126 | 29.9% |
| Rose 10x or more | 47 | 11.1% |
| Rose 20x or more | 15 | 3.6% |
| Rose 50x or more | 4 | 0.9% |
| Rose 100x or more | 1 | 0.2% |
The 47 ten-baggers are listed below with the worst peak-to-trough fall each one had during the decade and its worst calendar year. Twenty-four were technology stocks and ten were industrials. These are past results, not predictions.
| Rank | Stock | Multiple | 10-year total return | Worst fall in the period | Worst calendar year (2017–2026 YTD) |
|---|---|---|---|---|---|
| 1 | NVIDIA (NVDA) | 137x | +13,575% | −66.4% | −50.3% (2022) |
| 2 | Advanced Micro Devices (AMD) | 89x | +8,753% | −65.5% | −55.0% (2022) |
| 3 | Micron Technology (MU) | 61x | +6,042% | −57.8% | −45.9% (2022) |
| 4 | Comfort Systems USA (FIX) | 60x | +5,891% | −50.2% | No down year |
| 5 | Dell Technologies (DELL) | 44x | +4,309% | −60.0% | −26.6% (2022) |
| 6 | Lam Research (LRCX) | 39x | +3,834% | −56.8% | −40.7% (2022) |
| 7 | Arista Networks (ANET) | 38x | +3,727% | −52.2% | −15.6% (2022) |
| 8 | Natera (NTRA) | 37x | +3,620% | −77.7% | −57.0% (2022) |
| 9 | FTAI Aviation (FTAI) | 27x | +2,607% | −73.5% | −25.9% (2022) |
| 10 | Broadcom (AVGO) | 26x | +2,542% | −48.8% | −13.3% (2022) |
| 11 | Tesla (TSLA) | 26x | +2,509% | −73.6% | −65.0% (2022) |
| 12 | Fortinet (FTNT) | 24x | +2,319% | −38.3% | −32.0% (2022) |
| 13 | Quanta Services (PWR) | 23x | +2,240% | −45.6% | −22.9% (2018) |
| 14 | Lumentum (LITE) | 23x | +2,225% | −66.9% | −50.7% (2022) |
| 15 | Marvell Technology (MRVL) | 21x | +2,032% | −62.1% | −57.5% (2022) |
| 16 | Teradyne (TER) | 20x | +1,855% | −59.7% | −46.4% (2022) |
| 17 | Applied Materials (AMAT) | 19x | +1,786% | −55.4% | −37.5% (2022) |
| 18 | Monolithic Power Systems (MPWR) | 18x | +1,708% | −51.9% | −27.8% (2022) |
| 19 | Super Micro Computer (SMCI) | 18x | +1,655% | −84.8% | −34.0% (2018) |
| 20 | Eli Lilly and Company (LLY) | 17x | +1,584% | −34.8% | No down year |
| 21 | Ciena (CIEN) | 16x | +1,514% | −49.5% | −33.8% (2022) |
| 22 | Palo Alto Networks (PANW) | 15x | +1,396% | −48.0% | −24.8% (2022) |
| 23 | Texas Pacific Land (TPL) | 15x | +1,388% | −65.8% | −32.4% (2023) |
| 24 | Axon Enterprise (AXON) | 15x | +1,377% | −58.5% | −25.6% (2026 YTD) |
| 25 | Jabil (JBL) | 14x | +1,307% | −57.4% | −4.4% (2018) |
| 26 | XPO (XPO) | 14x | +1,288% | −64.5% | −37.7% (2018) |
| 27 | United Rentals (URI) | 13x | +1,222% | −63.3% | −40.4% (2018) |
| 28 | EMCOR (EME) | 13x | +1,214% | −48.1% | −26.7% (2018) |
| 29 | Marathon Petroleum (MPC) | 13x | +1,210% | −80.8% | −27.4% (2020) |
| 30 | Cadence Design Systems (CDNS) | 13x | +1,193% | −32.1% | −13.8% (2022) |
| 31 | Apple (AAPL) | 13x | +1,187% | −38.7% | −26.4% (2022) |
| 32 | Coherent (COHR) | 12x | +1,083% | −72.2% | −48.6% (2022) |
| 33 | Western Digital (WDC) | 12x | +1,061% | −72.6% | −51.9% (2018) |
| 34 | Keysight Technologies (KEYS) | 11x | +1,049% | −42.6% | −17.2% (2022) |
| 35 | Ubiquiti (UI) | 11x | +1,042% | −72.2% | −48.2% (2023) |
| 36 | Caterpillar (CAT) | 11x | +1,035% | −46.3% | −17.6% (2018) |
| 37 | LPL Financial (LPLA) | 11x | +1,028% | −60.5% | −14.2% (2026 YTD) |
| 38 | Tenet Healthcare (THC) | 11x | +1,028% | −71.7% | −40.3% (2022) |
| 39 | Williams-Sonoma (WSM) | 11x | +1,021% | −60.0% | −30.5% (2022) |
| 40 | Carpenter Technology (CRS) | 11x | +1,009% | −75.4% | −39.4% (2020) |
| 41 | Howmet Aerospace (HWM) | 11x | +976.5% | −68.9% | −37.5% (2018) |
| 42 | Steel Dynamics (STLD) | 11x | +973.2% | −69.8% | −29.0% (2018) |
| 43 | Valero Energy (VLO) | 11x | +968.4% | −73.8% | −35.7% (2020) |
| 44 | ATI (ATI) | 10x | +948.1% | −82.4% | −18.8% (2020) |
| 45 | NRG Energy (NRG) | 10x | +946.5% | −49.3% | −39.6% (2026 YTD) |
| 46 | Interactive Brokers (IBKR) | 10x | +925.5% | −55.8% | −13.9% (2019) |
| 47 | Microsoft (MSFT) | 10x | +900.8% | −37.6% | −28.0% (2022) |
| — | S&P 500 (SPY) | 4.1x | +310.7% | −34.1% | −18.2% (2022) |
Almost all of them did. The median ten-bagger’s worst fall during the decade was 60.0%, and 34 of the 47 fell 50% or more at some point. The mildest worst fall in the group was 32.1%, at Cadence Design Systems. Most of the semiconductor names lost 40% or more in calendar 2022 alone.
A 50% fall needs a 100% gain to get back to even, and it arrives with no sign that the stock will later recover. That is the part of a ten-bagger that lists like this hide; the stock-by-stock record is in how far the big winners fell, and the math in loss recovery math.
Low, and lower than the survivor data suggests. Even if you had picked at random from the companies that would end up among today’s largest, the chance of a ten-bagger was about 11%. Nobody has that list in advance. Drawing from all listed stocks, many of which later shrink or fail, the odds are worse. And over a single year, losing is common: 195 of the 477 largest US stocks (41%) lost money in the 12 months to Sep 30, 2026.
Published research on what ten-baggers looked like beforehand is thin. A 2025 working paper by Anna Yartseva, “The Alchemy of Multibagger Stocks”, studied 464 US stocks that rose 10x or more in 2009–2024 and found small, profitable, modestly valued companies with high free cash flow yield did best. See what the biggest winners had in common.
It means a hunt for ten-baggers is a numbers game that only works with small bets and patience. Illustrative: on a $750,000 portfolio, ten speculative positions of 1.5% each total $112,500. If one becomes a ten-bagger, that $11,250 grows to $112,500, enough to cover the whole sleeve even if the other nine go to zero. If none does, the portfolio has lost at most 15%, with the rest in a diversified core. If instead one stock is 15% of the portfolio, a single miss does the same damage.
More in position sizing and how to find the next Nvidia.
Universe: the largest US companies listed on the NYSE or Nasdaq by market value at the October 2026 data export (roughly $17 billion and up), common shares only, one share class each: 422 with a full 10-year history. Mutual funds, preferred shares and notes in the source list were removed. Total return from month-end adjusted closes with dividends reinvested, 10 years to Sep 30, 2026, from Exent’s market data. “Worst fall” is the largest peak-to-trough decline in the period.
Among the 422 largest US stocks with 10 years of history, 11% rose 10x or more in the 10 years to Sep 30, 2026. Because the list only includes survivors, the share across all stocks was much lower.
Low. Even picking from companies that later became the largest in the US gave roughly a one-in-nine chance over 10 years, and nobody knows that list in advance. Across all stocks, most did worse than Treasury bills over their lifetimes.
Among the largest US stocks, only Nvidia, which rose about 137x in the 10 years to Sep 30, 2026, with dividends reinvested.
Almost always. The median worst fall among the 47 large US ten-baggers of the last decade was 60.0%, and 34 of them fell 50% or more along the way.
A 10x gain in 10 years requires about 26% a year compounded. Among the largest US stocks, 47 managed at least that over the decade to Sep 30, 2026.
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Educational content, not investment advice. Examples are illustrative; past performance does not guarantee future results.