While stocks continue to dip in and out of bear market territory, one thing is certain: valuations have been dropping as well, and many stocks now look like great deals. You can use the opportunity to buy no-brainer stocks at excellent valuations.

Here are four to consider. Walt Disney (DIS 1.09%), Airbnb (ABNB 2.43%), Revolve Group (RVLV -0.21%), and MercadoLibre (MELI -0.81%) all look like surefire winners today or if the market falls further. 

Disney: Unmatched entertainment in every medium

Disney has demonstrated a sustained recovery from the earlier stages of the pandemic, when its streaming services were the silver lining in a dark cloud of theme park closures and social distancing moves that sapped many of its other revenue streams. Now, it's well-positioned as a leader in all areas of entertainment, from its parks and products to its films, television networks, and streaming services.

In Disney's fiscal third quarter, which ended July 2, revenue increased 26% year over year and surpassed the top line from Q3 2019. That growth was fueled by park reopenings, people returning to theaters, and an increase in streaming subscriptions that temporarily allowed it to displace Netflix as the global streaming leader.

It's no surprise that Disney has come back big. It has an unparalleled creative team steering its content and the most highly developed theme park collection in the world. And it's also back to increasing its profitability.

Yet Disney stock is down by 40% over the past year. It is trading at 58 times trailing 12-month earnings -- a fairly expensive level for Disney -- but that ratio will decline as the company posts higher earnings. It will also come down if the stock price falls further, which would be a great opportunity to grab shares.

Airbnb: The future of travel?

Airbnb is certainly the present of travel, at least partially because in many instances, it has been the only game in town. As a rental marketplace, it didn't have to shut down like the large hotel chains did earlier during the pandemic. Now, people view it as more than just a tool for finding vacation spaces, and that's opening up new possibilities and revenue streams for Airbnb.

Stays of 28 days or more are the company's fastest-growing time category, indicating that users see the platform as facilitating a new way of living. Airbnb CEO Brian Chesky is "living" in Airbnb rentals this year, and while that may come across as something of a gimmick, it's certainly one way to research how his company can pivot from a vacation rental platform into something different and potentially much bigger. 

In the meantime, after its monster recovery from its early pandemic declines, its growth rate is beginning to moderate. While sales growth is slowing, the company is already moving into profitability mode. As it becomes self-sustaining, with nearly $800 million in free cash flow and $379 million in earnings in the second quarter, it looks more compelling as an investment. 

Airbnb stock is down 33% over the past year, but the stock is still expensive at 58 times trailing 12-month earnings. However, if the price drops further, it looks like a no-brainer stock to buy.

Revolve Group: Disrupting fashion e-commerce

Revolve Group operates two artificial intelligence-powered fashion e-commerce sites that target millennial shoppers. It offers a high-fashion experience with a model that reaches its core customers through social media. 

This model allows it to feature 70,000 fashion and beauty products, and it can easily update its offerings as its algorithms identify customer preferences. Its online model is nimble, allowing it to generate more full-priced sales with less inventory to mark down at the end of a season.

It was posting fabulous growth after it got a pandemic boost, and the momentum continued for a while as more customers were introduced to its platform. However, it has been decelerating in a big way; management is forecasting a steep slowdown in the third and fourth quarters. That's partially due to inflation and the fact that its results will be compared to last year's periods of extreme growth.

Yet, there is much to be confident about for Revolve's future. Even now, it's gaining new customers at a double-digit percentage rate and increasing its average revenue per order. It's also profitable, fueled by its high full-price sales rate, which is not a given for a high-growth company. Nor is it a given for companies whose sales are being dragged down by inflation.

Revolve Group stock is down 67% over the past year, and shares trade at 19 times trailing 12-month earnings. At that valuation, it looks like a compelling buy even now.

MercadoLibre: Leading Latin American e-commerce

MercadoLibre is similar to Amazon at an earlier stage of its evolution. E-commerce is its main business, but it's using that as a springboard to enter other business areas as well in its Latin American market.

It has emerged as a dominant player in the 18 countries in which it operates, and while it's refining its e-commerce model and generating strong sales growth, its fintech segment is becoming important as it supports both the e-commerce operation and the region's underbanked population in general.

Sales are no longer surging by triple-digit percentages -- as they did for five consecutive quarters at the height of the pandemic -- but they're still growing at high double-digit percentage rates, which is impressive. Its earlier growth allowed it to expand and recruit more customers, and they're sticking around.

Management has switched its focus to maintaining profitability at this scale and improving its model with more delivery options (and faster ones). MercadoLibre stock is down 46% over the past year, and it's an excellent stock to own with tons of growth potential.