Basis: Current FMP quote-based enterprise value / four-quarter operating cash flow less absolute capital expenditures. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the EV/FCF ratio high or low?
The EV/FCF ratio of 25.62x is 14% above its estimated 5-year average of 22.38x, around the middle of its estimated 5-year range (12.12x–44.53x).
As of 2026-09-09T20:00:00.000Z. 12.14% above its estimated 12-month average of 22.85x.
Quote observation: 2026-09-09T20:00:00.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: 461891cb7c254590516e49e38a0a038ebc025655c5473beed5b8d845ab71f3ca
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation. Historical series through 2026-09-09.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
EV/FCF RATIO
25.62x
EV/FCF RATIO AVG TTM
22.85x
EV/FCF RATIO AVG 3Y
22.99x
EV/FCF RATIO AVG 5Y
22.38x
EV/FCF RATIO AVG 10Y
25.53x
EV/FCF RATIO AVG 15Y
23.19x
EV/FCF RATIO AVG 20Y
21.98x
CURRENT VS TTM AVG
+12.14%
CURRENT VS 3Y AVG
+11.43%
CURRENT VS 5Y AVG
+14.46%
CURRENT VS 10Y AVG
+0.35%
CURRENT VS 15Y AVG
+10.46%
CURRENT VS 20Y AVG
+16.56%
SECTOR MEDIAN · HEALTHCARE
25.29x
median of 80 covered companies
CURRENT VS SECTOR MEDIAN
+1.32%
vs the sector median at left
Merck & Co., Inc.
Market Cap
$364.55B
EV/FCF Ratio
25.62x
TTM Avg
22.85x
3Y Avg
22.99x
5Y Avg
22.38x
Market Cap
$356.96B
EV/FCF Ratio
17.01x
TTM Avg
19.42x
3Y Avg
30.16x
5Y Avg
26.29x
Market Cap
$225.09B
EV/FCF Ratio
36.02x
TTM Avg
36.72x
3Y Avg
34.05x
5Y Avg
35.13x
Market Cap
$182.12B
EV/FCF Ratio
26.46x
TTM Avg
28.63x
3Y Avg
34.44x
5Y Avg
30.90x
| NAME | MARKET CAP | EV/FCF RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Merck & Co., Inc. (MRK) | $364.55B | 25.62x | 22.85x | 22.99x | 22.38x |
| UnitedHealth Group Incorporated (UNH)vs › | $356.96B | 17.01x | 19.42x | 30.16x | 26.29x |
| Roche Holding AG (RHHBY)vs › | $340.28B | N/A | N/A | N/A | N/A |
| AbbVie Inc. (ABBV)vs › | $443.43B | 27.98x | 23.70x | 21.01x | 18.30x |
| AstraZeneca PLC (AZN)vs › | $243.39B | 30.97x | 34.95x | 35.02x | 37.57x |
| Thermo Fisher Scientific Inc. (TMO)vs › | $225.09B | 36.02x | 36.72x | 34.05x | 35.13x |
| Amgen Inc. (AMGN)vs › | $211.17B | 25.01x | 24.45x | 25.66x | 23.01x |
| Novo Nordisk A/S (NVO)vs › | $197.87B | 28.52x | 36.22x | 44.26x | 39.68x |
| Abbott Laboratories (ABT)vs › | $182.12B | 26.46x | 28.63x | 34.44x | 30.90x |
| Gilead Sciences, Inc. (GILD)vs › | $180.83B | 15.73x | 18.55x | 16.29x | 14.69x |
EV/FCF
25.6x
P/FCF
22.7x
FCF Yield
4.41%
Formula: EV/FCF = Enterprise Value / Free Cash Flow
EV/FCF vs P/FCF:
EV/FCF = Enterprise Value / Free Cash Flow (TTM)
Enterprise value to free cash flow compares total company value to the cash the business generates after capital expenditures.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | EV/FCF RATIO |
|---|---|
| 2026-09-09 | 25.64x |
| 2026-09-08 | 25.78x |
| 2026-09-04 | 26.06x |
| 2026-09-03 | 26.37x |
| 2026-09-02 | 26.27x |
| 2026-09-01 | 25.99x |
| 2026-08-31 | 25.67x |
| 2026-08-28 | 25.76x |
| 2026-08-27 | 25.94x |
| 2026-08-26 | 26.49x |
| 2026-08-25 | 27.01x |
| 2026-08-24 | 26.12x |
| 2026-08-21 | 26.41x |
| 2026-08-20 | 25.86x |
| 2026-08-19 | 26.35x |
| 2026-08-18 | 23.73x |
| 2026-08-17 | 23.85x |
| 2026-08-14 | 23.83x |
| 2026-08-13 | 23.79x |
| 2026-08-12 | 23.39x |
| 2026-08-11 | 23.00x |
| 2026-08-10 | 23.08x |
| 2026-08-07 | 25.62x |
| 2026-08-06 | 25.58x |
| 2026-08-05 | 25.58x |
| 2026-08-04 | 25.52x |
| 2026-08-03 | 25.48x |
| 2026-07-31 | 25.90x |
| 2026-07-30 | 25.83x |
| 2026-07-29 | 25.93x |
| 2026-07-28 | 26.19x |
| 2026-07-27 | 26.00x |
| 2026-07-24 | 26.06x |
| 2026-07-23 | 25.95x |
| 2026-07-22 | 25.43x |
| 2026-07-21 | 25.21x |
| 2026-07-20 | 24.89x |
| 2026-07-17 | 25.43x |
| 2026-07-16 | 25.45x |
| 2026-07-15 | 24.75x |
| 2026-07-14 | 24.25x |
| 2026-07-13 | 24.82x |
| 2026-07-10 | 24.74x |
| 2026-07-09 | 25.01x |
| 2026-07-08 | 25.17x |
| 2026-07-07 | 25.67x |
| 2026-07-06 | 25.31x |
| 2026-07-02 | 25.79x |
| 2026-07-01 | 25.06x |
| 2026-06-30 | 25.61x |
| 2026-06-29 | 25.76x |
| 2026-06-26 | 25.63x |
| 2026-06-25 | 25.07x |
| 2026-06-24 | 24.22x |
| 2026-06-23 | 24.05x |
| 2026-06-22 | 23.33x |
| 2026-06-18 | 23.04x |
| 2026-06-17 | 23.32x |
| 2026-06-16 | 23.27x |
| 2026-06-15 | 23.23x |
| 2026-06-12 | 23.95x |
| 2026-06-11 | 24.25x |
| 2026-06-10 | 23.96x |
| 2026-06-09 | 24.05x |
| 2026-06-08 | 24.03x |
| 2026-06-05 | 24.26x |
| 2026-06-04 | 24.16x |
| 2026-06-03 | 23.19x |
| 2026-06-02 | 23.36x |
| 2026-06-01 | 23.27x |
| 2026-05-29 | 23.89x |
| 2026-05-28 | 24.10x |
| 2026-05-27 | 24.16x |
| 2026-05-26 | 24.07x |
| 2026-05-22 | 24.54x |
| 2026-05-21 | 23.40x |
| 2026-05-20 | 22.89x |
| 2026-05-19 | 23.11x |
| 2026-05-18 | 22.82x |
| 2026-05-15 | 22.61x |
| 2026-05-14 | 22.96x |
| 2026-05-13 | 22.97x |
| 2026-05-12 | 22.78x |
| 2026-05-11 | 22.59x |
| 2026-05-08 | 22.61x |
| 2026-05-07 | 22.77x |
| 2026-05-06 | 22.99x |
| 2026-05-05 | 22.92x |
| 2026-05-04 | 25.68x |
| 2026-05-01 | 25.49x |
| 2026-04-30 | 24.89x |
| 2026-04-29 | 25.24x |
| 2026-04-28 | 25.06x |
| 2026-04-27 | 25.10x |
| 2026-04-24 | 25.43x |
| 2026-04-23 | 25.98x |
| 2026-04-22 | 25.63x |
| 2026-04-21 | 25.57x |
| 2026-04-20 | 26.48x |
| 2026-04-17 | 26.88x |
| 2026-04-16 | 26.15x |
| 2026-04-15 | 26.64x |
| 2026-04-14 | 27.06x |
| 2026-04-13 | 27.10x |
| 2026-04-10 | 27.35x |
| 2026-04-09 | 27.60x |
| 2026-04-08 | 27.71x |
| 2026-04-07 | 26.92x |
| 2026-04-06 | 27.24x |
| 2026-04-02 | 27.24x |
| 2026-04-01 | 27.23x |
| 2026-03-31 | 27.12x |
| 2026-03-30 | 26.68x |
| 2026-03-27 | 26.99x |
| 2026-03-26 | 26.85x |
| 2026-03-25 | 26.94x |
| 2026-03-24 | 26.33x |
| 2026-03-23 | 26.20x |
| 2026-03-20 | 25.89x |
| 2026-03-19 | 25.90x |
| 2026-03-18 | 25.96x |
| 2026-03-17 | 26.23x |
| 2026-03-16 | 26.15x |
| 2026-03-13 | 26.18x |
| 2026-03-12 | 26.24x |
| 2026-03-11 | 26.30x |
| 2026-03-10 | 26.48x |
| 2026-03-09 | 26.48x |
| 2026-03-06 | 26.22x |
| 2026-03-05 | 26.27x |
| 2026-03-04 | 27.12x |
| 2026-03-03 | 27.03x |
| 2026-03-02 | 27.35x |
| 2026-02-27 | 27.83x |
| 2026-02-26 | 26.92x |
| 2026-02-25 | 27.56x |
| 2026-02-24 | 25.50x |
| 2026-02-23 | 25.48x |
| 2026-02-20 | 25.18x |
| 2026-02-19 | 25.11x |
| 2026-02-18 | 25.07x |
| 2026-02-17 | 25.05x |
| 2026-02-13 | 25.02x |
| 2026-02-12 | 24.60x |
| 2026-02-11 | 24.61x |
| 2026-02-10 | 24.20x |
| 2026-02-09 | 24.30x |
| 2026-02-06 | 25.12x |
| 2026-02-05 | 24.70x |
| 2026-02-04 | 24.43x |
| 2026-02-03 | 23.95x |
| 2026-02-02 | 23.48x |
| 2026-01-30 | 22.89x |
| 2026-01-29 | 22.52x |
| 2026-01-28 | 22.24x |
| 2026-01-27 | 22.44x |
| 2026-01-26 | 22.34x |
| 2026-01-23 | 22.49x |
| 2026-01-22 | 22.68x |
| 2026-01-21 | 23.05x |
| 2026-01-20 | 22.73x |
| 2026-01-16 | 22.61x |
| 2026-01-15 | 23.02x |
| 2026-01-14 | 23.03x |
| 2026-01-13 | 22.50x |
| 2026-01-12 | 22.68x |
| 2026-01-09 | 22.94x |
| 2026-01-08 | 23.03x |
| 2026-01-07 | 22.57x |
| 2026-01-06 | 22.62x |
| 2026-01-05 | 22.35x |
| 2026-01-02 | 22.16x |
| 2025-12-31 | 21.93x |
| 2025-12-30 | 22.08x |
| 2025-12-29 | 22.19x |
| 2025-12-26 | 22.22x |
| 2025-12-24 | 22.16x |
| 2025-12-23 | 21.89x |
| 2025-12-22 | 21.83x |
| 2025-12-19 | 21.13x |
| 2025-12-18 | 21.05x |
| 2025-12-17 | 20.76x |
| 2025-12-16 | 20.59x |
| 2025-12-15 | 20.97x |
| 2025-12-12 | 20.98x |
| 2025-12-11 | 20.73x |
| 2025-12-10 | 20.47x |
| 2025-12-09 | 20.33x |
| 2025-12-08 | 20.72x |
| 2025-12-05 | 20.87x |
| 2025-12-04 | 21.09x |
| 2025-12-03 | 21.36x |
| 2025-12-02 | 21.12x |
| 2025-12-01 | 21.27x |
| 2025-11-28 | 21.85x |
| 2025-11-26 | 21.81x |
| 2025-11-25 | 22.01x |
| 2025-11-24 | 21.00x |
| 2025-11-21 | 20.49x |
| 2025-11-20 | 19.96x |
| 2025-11-19 | 19.97x |
| 2025-11-18 | 20.24x |
| 2025-11-17 | 19.55x |
| 2025-11-14 | 19.57x |
| 2025-11-13 | 19.57x |
| 2025-11-12 | 19.28x |
| 2025-11-11 | 19.19x |
| 2025-11-10 | 18.39x |
| 2025-11-07 | 18.30x |
| 2025-11-06 | 18.20x |
| 2025-11-05 | 16.27x |
| 2025-11-04 | 16.18x |
| 2025-11-03 | 15.94x |
| 2025-10-31 | 16.54x |
| 2025-10-30 | 16.59x |
| 2025-10-29 | 16.64x |
| 2025-10-28 | 16.72x |
| 2025-10-27 | 16.88x |
| 2025-10-24 | 16.80x |
| 2025-10-23 | 16.74x |
| 2025-10-22 | 16.82x |
| 2025-10-21 | 16.82x |
| 2025-10-20 | 16.60x |
| 2025-10-17 | 16.33x |
| 2025-10-16 | 16.19x |
| 2025-10-15 | 16.22x |
| 2025-10-14 | 16.32x |
| 2025-10-13 | 16.49x |
| 2025-10-10 | 16.54x |
| 2025-10-09 | 16.80x |
| 2025-10-08 | 16.61x |
| 2025-10-07 | 16.82x |
| 2025-10-06 | 17.02x |
| 2025-10-03 | 17.09x |
| 2025-10-02 | 17.14x |
| 2025-10-01 | 17.25x |
| 2025-09-30 | 16.19x |
| 2025-09-29 | 15.27x |
| 2025-09-26 | 15.27x |
| 2025-09-25 | 15.11x |
| 2025-09-24 | 15.46x |
| 2025-09-23 | 15.51x |
| 2025-09-22 | 15.58x |
| 2025-09-19 | 15.77x |
| 2025-09-18 | 15.78x |
| 2025-09-17 | 15.71x |
| 2025-09-16 | 15.70x |
| 2025-09-15 | 15.69x |
| 2025-09-12 | 16.00x |
| 2025-09-11 | 16.40x |
| 2025-09-10 | 16.20x |
| 2025-09-09 | 16.30x |
| 2025-09-08 | 16.21x |
| 2025-09-05 | 16.32x |
| 2025-09-04 | 16.21x |
| 2025-09-03 | 16.23x |
| 2025-09-02 | 16.45x |
| 2025-08-29 | 16.22x |
| 2025-08-28 | 16.06x |
| 2025-08-27 | 16.21x |
Showing the most recent 260 of 5,030 data points. The chart above shows the full history.
