Valuation multiples › Price/FCF
Price/FCF by sector and industry
Price to free cash flow: median and quartiles across 11 GICS sectors and 146 industries, from 27,874 valued stocks worldwide.
As of October 14, 2026 · updated daily · CSVJSON
What the numbers show
The lowest sector median is 10.2 (Financials, 2,059 values), the highest 19.4 (Information Technology, 1,938 values).
That is a factor of 1.9 between the two: the same ratio means different things in different sectors, so compare within the industry.
The middle sector (Energy) has a median of 12.9; half of its 519 stocks sit between 6.8 and 22.9.
Price/FCF by sector
| Sector | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Financials | 5.1 | 10.2 | 17.4 | 2,059 |
| Real Estate | 4.4 | 11.0 | 18.9 | 1,107 |
| Communication Services | 5.5 | 11.3 | 22.5 | 633 |
| Consumer Discretionary | 5.5 | 11.9 | 23.6 | 2,240 |
| Utilities | 7.4 | 12.8 | 25.5 | 328 |
| Energy | 6.8 | 12.9 | 22.9 | 519 |
| Consumer Staples | 7.2 | 13.3 | 25.1 | 1,005 |
| Industrials | 6.9 | 14.3 | 29.9 | 3,111 |
| Materials | 7.7 | 16.2 | 33.9 | 1,614 |
| Health Care | 9.6 | 19.4 | 36.9 | 1,206 |
| Information Technology | 9.5 | 19.4 | 41.5 | 1,938 |
Price/FCF by industry (146)
Grouped by sector, sorted by median within each sector. Only industries with at least ten valued stocks.
Communication Services (7)
| Industry | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Advertising Agencies | 4.9 | 9.6 | 19.0 | 104 |
| Broadcasting | 3.9 | 10.2 | 21.5 | 34 |
| Telecom Services | 6.7 | 10.9 | 18.0 | 169 |
| Electronic Gaming & Multimedia | 6.7 | 12.3 | 18.9 | 70 |
| Publishing | 7.2 | 12.3 | 19.8 | 73 |
| Internet Content & Information | 8.1 | 14.2 | 27.3 | 82 |
| Entertainment | 5.1 | 15.1 | 27.3 | 115 |
Consumer Discretionary (26)
| Industry | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Department Stores | 4.4 | 7.5 | 15.8 | 80 |
| Textiles | 2.6 | 7.8 | 21.8 | 18 |
| Auto & Truck Dealerships | 4.7 | 8.4 | 17.5 | 54 |
| Specialty Retail | 4.0 | 8.5 | 16.0 | 154 |
| Recreational Vehicles | 6.4 | 9.1 | 11.8 | 19 |
| Home Improvement Retail | 4.0 | 9.5 | 17.6 | 26 |
| Restaurants | 3.5 | 10.1 | 19.1 | 170 |
| Personal Services | 5.3 | 10.6 | 14.8 | 29 |
| Auto Manufacturers | 4.3 | 11.2 | 22.3 | 58 |
| Education & Training Services | 4.8 | 11.2 | 19.2 | 78 |
| Leisure | 6.0 | 11.4 | 26.1 | 111 |
| Apparel Retail | 4.5 | 11.9 | 22.6 | 72 |
| Apparel Manufacturing | 6.3 | 12.3 | 21.9 | 122 |
| Residential Construction | 5.0 | 12.4 | 17.7 | 39 |
| Gambling | 8.4 | 12.5 | 17.0 | 36 |
| Travel Services | 7.3 | 12.5 | 27.9 | 60 |
| Resorts & Casinos | 5.0 | 13.1 | 17.2 | 42 |
| Furnishings, Fixtures & Appliances | 6.3 | 13.4 | 26.9 | 189 |
| Footwear & Accessories | 4.7 | 13.4 | 27.3 | 64 |
| Textile Manufacturing | 5.1 | 13.5 | 25.3 | 172 |
| Internet Retail | 6.2 | 14.1 | 27.3 | 70 |
| Consumer Electronics | 7.8 | 15.0 | 27.0 | 52 |
| Auto Parts | 8.0 | 15.2 | 34.8 | 385 |
| Lodging | 6.2 | 15.8 | 27.2 | 102 |
| Luxury Goods | 8.5 | 17.7 | 33.1 | 61 |
| Discount Stores | 10.2 | 18.0 | 28.0 | 21 |
Consumer Staples (11)
| Industry | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Pharmaceutical Retailers | 3.5 | 9.1 | 14.4 | 37 |
| Confectioners | 4.8 | 9.2 | 21.8 | 40 |
| Farm Products | 5.7 | 11.1 | 18.0 | 163 |
| Food Distribution | 6.9 | 11.4 | 17.9 | 46 |
| Grocery Stores | 6.6 | 12.1 | 18.5 | 64 |
| Tobacco | 7.4 | 13.1 | 23.7 | 24 |
| Beverages - Brewers | 8.7 | 13.3 | 21.6 | 39 |
| Packaged Foods | 7.0 | 13.8 | 26.4 | 360 |
| Beverages - Wineries & Distilleries | 6.8 | 14.0 | 39.3 | 54 |
| Household & Personal Products | 8.1 | 16.1 | 25.5 | 146 |
| Beverages - Non-Alcoholic | 11.4 | 20.3 | 28.8 | 62 |
Energy (7)
| Industry | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Oil & Gas Drilling | 7.7 | 10.4 | 15.2 | 23 |
| Oil & Gas Refining & Marketing | 6.7 | 11.7 | 26.9 | 72 |
| Oil & Gas Equipment & Services | 5.3 | 11.9 | 21.1 | 113 |
| Oil & Gas E&P | 7.0 | 12.2 | 25.7 | 144 |
| Thermal Coal | 5.9 | 12.8 | 22.0 | 45 |
| Oil & Gas Midstream | 11.2 | 15.4 | 24.3 | 58 |
| Oil & Gas Integrated | 12.1 | 18.7 | 27.5 | 35 |
Financials (16)
| Industry | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Shell Companies | 2.0 | 4.1 | 16.1 | 11 |
| Mortgage Finance | 0.6 | 5.3 | 11.0 | 41 |
| Insurance - Life | 2.7 | 5.6 | 14.2 | 59 |
| Credit Services | 2.5 | 6.2 | 14.3 | 173 |
| Insurance - Property & Casualty | 5.5 | 8.4 | 14.6 | 83 |
| Financial Conglomerates | 4.9 | 8.7 | 15.9 | 33 |
| Capital Markets | 3.5 | 8.9 | 20.9 | 219 |
| Banks - Diversified | 4.7 | 9.2 | 16.7 | 29 |
| REIT - Mortgage | 5.6 | 9.8 | 14.9 | 27 |
| Insurance - Diversified | 5.6 | 10.2 | 21.4 | 58 |
| Banks - Regional | 6.5 | 10.8 | 15.5 | 855 |
| Asset Management | 5.7 | 11.2 | 25.4 | 366 |
| Insurance - Reinsurance | 4.2 | 11.9 | 17.0 | 21 |
| Insurance - Specialty | 6.9 | 12.5 | 21.4 | 22 |
| Insurance Brokers | 10.8 | 15.7 | 21.1 | 29 |
| Financial Data & Stock Exchanges | 17.5 | 23.5 | 28.1 | 40 |
Health Care (11)
| Industry | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Pharmaceuticals | 0.3 | 6.2 | 21.8 | 15 |
| Medical Distribution | 6.4 | 10.0 | 16.2 | 49 |
| Medical Care Facilities | 6.5 | 14.0 | 24.6 | 168 |
| Healthcare Plans | 11.5 | 16.9 | 23.3 | 12 |
| Drug Manufacturers - Specialty & Generic | 9.4 | 17.7 | 36.0 | 333 |
| Health Information Services | 9.4 | 19.3 | 37.7 | 68 |
| Biotechnology | 10.8 | 21.8 | 50.6 | 166 |
| Medical Instruments & Supplies | 12.8 | 22.0 | 36.3 | 116 |
| Drug Manufacturers - General | 14.8 | 24.2 | 39.9 | 52 |
| Medical Devices | 14.3 | 24.2 | 41.2 | 171 |
| Diagnostics & Research | 13.2 | 27.5 | 51.4 | 80 |
Industrials (24)
| Industry | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Airlines | 4.5 | 7.3 | 13.3 | 32 |
| Rental & Leasing Services | 3.3 | 8.2 | 18.3 | 42 |
| Integrated Freight & Logistics | 5.1 | 9.7 | 18.3 | 130 |
| Staffing & Employment Services | 6.3 | 10.2 | 16.7 | 59 |
| Engineering & Construction | 4.7 | 10.4 | 21.4 | 442 |
| Business Equipment & Supplies | 5.7 | 10.5 | 20.8 | 45 |
| Infrastructure Operations | 6.5 | 10.8 | 16.1 | 44 |
| Marine Shipping | 6.7 | 11.0 | 21.0 | 151 |
| Specialty Business Services | 6.5 | 11.1 | 19.3 | 151 |
| Conglomerates | 4.6 | 11.6 | 28.4 | 194 |
| Airports & Air Services | 8.4 | 12.3 | 20.6 | 41 |
| Industrial Distribution | 5.7 | 12.7 | 27.4 | 83 |
| Building Products & Equipment | 7.1 | 12.8 | 26.1 | 158 |
| Waste Management | 6.1 | 13.1 | 25.8 | 96 |
| Farm & Heavy Construction Machinery | 6.5 | 13.5 | 23.2 | 92 |
| Metal Fabrication | 5.8 | 13.7 | 29.1 | 122 |
| Trucking | 6.1 | 14.2 | 17.7 | 25 |
| Consulting Services | 9.3 | 14.6 | 26.0 | 56 |
| Railroads | 9.3 | 15.4 | 29.6 | 62 |
| Tools & Accessories | 11.4 | 17.7 | 39.8 | 78 |
| Pollution & Treatment Controls | 7.3 | 19.4 | 25.6 | 49 |
| Specialty Industrial Machinery | 11.2 | 22.1 | 41.0 | 464 |
| Electrical Equipment & Parts | 10.9 | 26.3 | 44.8 | 287 |
| Aerospace & Defense | 16.3 | 31.4 | 50.5 | 126 |
Information Technology (12)
| Industry | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Information Technology Services | 7.5 | 13.6 | 24.0 | 300 |
| Electronics & Computer Distribution | 7.3 | 14.9 | 29.9 | 87 |
| Security & Protection Services | 8.9 | 15.0 | 30.2 | 66 |
| Solar | 4.3 | 16.2 | 37.9 | 33 |
| Software - Application | 9.6 | 16.3 | 28.2 | 418 |
| Communication Equipment | 7.7 | 17.0 | 46.3 | 170 |
| Software - Infrastructure | 10.1 | 18.6 | 35.1 | 210 |
| Computer Hardware | 10.1 | 19.0 | 45.0 | 109 |
| Scientific & Technical Instruments | 12.0 | 22.6 | 42.3 | 100 |
| Electronic Components | 11.7 | 25.8 | 52.7 | 307 |
| Semiconductors | 17.0 | 33.5 | 70.0 | 165 |
| Semiconductor Equipment & Materials | 21.8 | 50.4 | 71.4 | 90 |
Materials (15)
| Industry | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Other | 0.6 | 4.2 | 14.3 | 18 |
| Lumber & Wood Production | 5.1 | 8.6 | 18.0 | 32 |
| Steel | 4.2 | 11.5 | 33.5 | 208 |
| Paper & Paper Products | 4.0 | 11.5 | 29.6 | 57 |
| Building Materials | 6.6 | 11.8 | 26.8 | 159 |
| Containers & Packaging | 6.2 | 11.8 | 25.7 | 11 |
| Packaging & Containers | 6.6 | 12.3 | 26.7 | 147 |
| Agricultural Inputs | 10.2 | 16.3 | 30.7 | 84 |
| Aluminum | 8.6 | 16.6 | 30.1 | 34 |
| Gold | 10.9 | 17.7 | 28.6 | 100 |
| Chemicals | 8.3 | 17.8 | 37.0 | 162 |
| Specialty Chemicals | 9.5 | 18.4 | 38.4 | 381 |
| Other Industrial Metals & Mining | 11.3 | 24.7 | 46.6 | 113 |
| Other Precious Metals & Mining | 17.1 | 27.7 | 49.3 | 25 |
| Copper | 16.2 | 33.6 | 57.5 | 22 |
Real Estate (11)
| Industry | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Real Estate - Development | 1.9 | 6.0 | 14.5 | 255 |
| Real Estate - Diversified | 3.9 | 9.9 | 20.4 | 79 |
| Real Estate Services | 4.3 | 10.7 | 18.6 | 359 |
| REIT - Hotel & Motel | 6.3 | 11.7 | 16.8 | 30 |
| REIT - Diversified | 6.2 | 12.5 | 20.5 | 103 |
| REIT - Residential | 4.1 | 12.6 | 20.1 | 35 |
| REIT - Office | 7.2 | 13.1 | 20.1 | 55 |
| REIT - Industrial | 10.0 | 13.7 | 18.8 | 48 |
| REIT - Retail | 9.7 | 14.2 | 21.0 | 86 |
| REIT - Specialty | 11.0 | 15.2 | 25.6 | 26 |
| REIT - Healthcare Facilities | 11.9 | 16.0 | 22.2 | 22 |
Utilities (6)
| Industry | P25 | Median | P75 | Values |
|---|---|---|---|---|
| Utilities - Independent Power Producers | 4.8 | 9.9 | 15.1 | 47 |
| Utilities - Renewable | 4.5 | 11.0 | 18.4 | 88 |
| Utilities - Regulated Electric | 7.6 | 14.8 | 29.9 | 72 |
| Utilities - Regulated Gas | 9.6 | 15.7 | 35.5 | 63 |
| Utilities - Regulated Water | 10.5 | 15.9 | 45.1 | 27 |
| Utilities - Diversified | 7.7 | 17.3 | 29.1 | 28 |
History of sector medians
| Month | Financials | Real Estate | Communication Services | Consumer Discretionary | Utilities | Energy | Consumer Staples | Industrials | Materials | Health Care | Information Technology |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-09 | 5.5 | 2.8 | 3.2 | 1.9 | 2.2 | 4.1 | 1.9 | 3.1 | 1.8 | 3.9 | 4.1 |
| 2026-10 | 10.4 | 11.4 | 11.5 | 12.3 | 13.8 | 12.7 | 14.0 | 14.9 | 16.5 | 19.9 | 19.7 |
Use it
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Suggested citation: Fair Value Calculator (2026): Price to free cash flow by sector and industry, as of October 14, 2026. https://www.fairvalue-calculator.com/valuation-multiples/price-to-fcf
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Not financial advice. Metrics from reported filings (latest fiscal year or trailing twelve months), percentiles over the visible Fair Value Calculator universe; negative multiples are excluded and outliers beyond the 90th percentile are never the basis of a statement.