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 22.79x is in line with its estimated 4-year average of 23.01x, near the low end of its estimated 4-year range (9.39x–191.94x).
As of 2026-09-16T16:56:19.478Z. 18.64% above its estimated 12-month average of 19.21x.
Calculation as of: 2026-09-16T16:56:19.478Z.
Quote observation: 2026-09-16T16:55:11.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: ae012bbea2bf0ddc9aabcdfd16964b1a4e4c369ddaac811ab686192f3d25a49b
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
22.79x
EV/FCF RATIO AVG TTM
19.21x
EV/FCF RATIO AVG 3Y
19.60x
EV/FCF RATIO AVG 5Y
23.01x
EV/FCF RATIO AVG 10Y
20.90x
EV/FCF RATIO AVG 15Y
19.00x
EV/FCF RATIO AVG 20Y
15.92x
CURRENT VS TTM AVG
+18.64%
CURRENT VS 3Y AVG
+16.30%
CURRENT VS 5Y AVG
-0.95%
CURRENT VS 10Y AVG
+9.07%
CURRENT VS 15Y AVG
+19.97%
CURRENT VS 20Y AVG
+43.11%
SECTOR MEDIAN · INDUSTRIALS
28.33x
median of 125 covered companies
CURRENT VS SECTOR MEDIAN
-19.56%
vs the sector median at left
United Airlines Holdings, Inc.
Market Cap
$34.47B
EV/FCF Ratio
22.79x
TTM Avg
19.21x
3Y Avg
19.60x
5Y Avg
23.01x
Market Cap
$36.60B
EV/FCF Ratio
32.59x
TTM Avg
40.90x
3Y Avg
47.33x
5Y Avg
47.00x
Market Cap
$37.79B
EV/FCF Ratio
292.97x
TTM Avg
821.42x
3Y Avg
390.98x
5Y Avg
299.85x
Market Cap
$30.06B
EV/FCF Ratio
11.15x
TTM Avg
12.36x
3Y Avg
12.36x
5Y Avg
12.36x
Market Cap
$40.12B
EV/FCF Ratio
40.57x
TTM Avg
41.72x
3Y Avg
42.90x
5Y Avg
42.32x
| NAME | MARKET CAP | EV/FCF RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| United Airlines Holdings, Inc. (UAL) | $34.47B | 22.79x | 19.21x | 19.60x | 23.01x |
| EMCOR Group, Inc. (EME)vs › | $32.92B | 27.77x | 28.87x | 20.94x | 20.35x |
| Old Dominion Freight Line, Inc. (ODFL)vs › | $36.60B | 32.59x | 40.90x | 47.33x | 47.00x |
| Rocket Lab USA, Inc. (RKLB)vs › | $36.70B | N/A | N/A | N/A | N/A |
| Axon Enterprise, Inc. (AXON)vs › | $37.79B | 292.97x | 821.42x | 390.98x | 299.85x |
| Sunbelt Rentals Holdings Inc (SUNB)vs › | $30.06B | 11.15x | 12.36x | 12.36x | 12.36x |
| Waste Connections, Inc. (WCN)vs › | $40.12B | 40.57x | 41.72x | 42.90x | 42.32x |
| Ferrovial SE (FER)vs › | $40.21B | 13.71x | 25.75x | 32.36x | 674.69x |
| Copart, Inc. (CPRT)vs › | $28.56B | 21.10x | 23.40x | 42.74x | 43.20x |
| Ingersoll Rand Inc. (IR)vs › | $28.41B | 26.30x | 29.12x | 29.70x | 32.10x |
EV/FCF
22.8x
P/FCF
13.6x
FCF Yield
7.38%
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 | 22.99x |
| 2026-09-08 | 23.13x |
| 2026-09-04 | 23.54x |
| 2026-09-03 | 23.19x |
| 2026-09-02 | 23.15x |
| 2026-09-01 | 22.67x |
| 2026-08-31 | 23.10x |
| 2026-08-28 | 23.44x |
| 2026-08-27 | 23.67x |
| 2026-08-26 | 23.98x |
| 2026-08-25 | 24.31x |
| 2026-08-24 | 23.82x |
| 2026-08-21 | 23.77x |
| 2026-08-20 | 23.58x |
| 2026-08-19 | 24.10x |
| 2026-08-18 | 24.48x |
| 2026-08-17 | 24.93x |
| 2026-08-14 | 25.33x |
| 2026-08-13 | 25.46x |
| 2026-08-12 | 25.30x |
| 2026-08-11 | 25.45x |
| 2026-08-10 | 25.13x |
| 2026-08-07 | 25.87x |
| 2026-08-06 | 25.81x |
| 2026-08-05 | 26.28x |
| 2026-08-04 | 26.26x |
| 2026-08-03 | 25.72x |
| 2026-07-31 | 24.81x |
| 2026-07-30 | 25.10x |
| 2026-07-29 | 24.57x |
| 2026-07-28 | 25.13x |
| 2026-07-27 | 24.72x |
| 2026-07-24 | 24.42x |
| 2026-07-23 | 24.05x |
| 2026-07-22 | 24.29x |
| 2026-07-21 | 24.35x |
| 2026-07-20 | 24.33x |
| 2026-07-17 | 24.05x |
| 2026-07-16 | 19.31x |
| 2026-07-15 | 19.53x |
| 2026-07-14 | 19.47x |
| 2026-07-13 | 19.55x |
| 2026-07-10 | 20.04x |
| 2026-07-09 | 20.35x |
| 2026-07-08 | 20.07x |
| 2026-07-07 | 20.28x |
| 2026-07-06 | 20.71x |
| 2026-07-02 | 20.79x |
| 2026-07-01 | 20.97x |
| 2026-06-30 | 21.06x |
| 2026-06-29 | 20.98x |
| 2026-06-26 | 21.07x |
| 2026-06-25 | 20.92x |
| 2026-06-24 | 20.51x |
| 2026-06-23 | 19.59x |
| 2026-06-22 | 19.30x |
| 2026-06-18 | 19.26x |
| 2026-06-17 | 19.01x |
| 2026-06-16 | 19.28x |
| 2026-06-15 | 19.43x |
| 2026-06-12 | 18.98x |
| 2026-06-11 | 18.68x |
| 2026-06-10 | 17.68x |
| 2026-06-09 | 18.38x |
| 2026-06-08 | 17.94x |
| 2026-06-05 | 17.98x |
| 2026-06-04 | 17.90x |
| 2026-06-03 | 17.92x |
| 2026-06-02 | 18.29x |
| 2026-06-01 | 18.59x |
| 2026-05-29 | 18.90x |
| 2026-05-28 | 18.93x |
| 2026-05-27 | 18.68x |
| 2026-05-26 | 18.00x |
| 2026-05-22 | 17.39x |
| 2026-05-21 | 17.36x |
| 2026-05-20 | 17.19x |
| 2026-05-19 | 16.29x |
| 2026-05-18 | 16.63x |
| 2026-05-15 | 16.67x |
| 2026-05-14 | 16.99x |
| 2026-05-13 | 16.96x |
| 2026-05-12 | 16.97x |
| 2026-05-11 | 17.05x |
| 2026-05-08 | 17.35x |
| 2026-05-07 | 17.36x |
| 2026-05-06 | 17.40x |
| 2026-05-05 | 16.75x |
| 2026-05-04 | 16.38x |
| 2026-05-01 | 16.63x |
| 2026-04-30 | 16.37x |
| 2026-04-29 | 16.23x |
| 2026-04-28 | 16.42x |
| 2026-04-27 | 16.57x |
| 2026-04-24 | 16.68x |
| 2026-04-23 | 16.50x |
| 2026-04-22 | 21.54x |
| 2026-04-21 | 22.24x |
| 2026-04-20 | 22.46x |
| 2026-04-17 | 22.83x |
| 2026-04-16 | 21.97x |
| 2026-04-15 | 21.87x |
| 2026-04-14 | 22.24x |
| 2026-04-13 | 21.99x |
| 2026-04-10 | 22.14x |
| 2026-04-09 | 22.30x |
| 2026-04-08 | 22.13x |
| 2026-04-07 | 21.23x |
| 2026-04-06 | 21.45x |
| 2026-04-02 | 21.61x |
| 2026-04-01 | 21.97x |
| 2026-03-31 | 21.59x |
| 2026-03-30 | 20.71x |
| 2026-03-27 | 21.12x |
| 2026-03-26 | 21.67x |
| 2026-03-25 | 21.70x |
| 2026-03-24 | 21.78x |
| 2026-03-23 | 21.83x |
| 2026-03-20 | 21.32x |
| 2026-03-19 | 21.85x |
| 2026-03-18 | 21.64x |
| 2026-03-17 | 21.73x |
| 2026-03-16 | 21.36x |
| 2026-03-13 | 20.89x |
| 2026-03-12 | 20.88x |
| 2026-03-11 | 21.41x |
| 2026-03-10 | 21.46x |
| 2026-03-09 | 21.90x |
| 2026-03-06 | 21.59x |
| 2026-03-05 | 22.02x |
| 2026-03-04 | 22.66x |
| 2026-03-03 | 22.93x |
| 2026-03-02 | 23.01x |
| 2026-02-27 | 23.41x |
| 2026-02-26 | 24.70x |
| 2026-02-25 | 24.25x |
| 2026-02-24 | 24.21x |
| 2026-02-23 | 23.52x |
| 2026-02-20 | 24.27x |
| 2026-02-19 | 23.89x |
| 2026-02-18 | 24.77x |
| 2026-02-17 | 24.40x |
| 2026-02-13 | 23.79x |
| 2026-02-12 | 17.70x |
| 2026-02-11 | 18.11x |
| 2026-02-10 | 18.32x |
| 2026-02-09 | 18.30x |
| 2026-02-06 | 18.28x |
| 2026-02-05 | 17.41x |
| 2026-02-04 | 17.71x |
| 2026-02-03 | 17.83x |
| 2026-02-02 | 17.52x |
| 2026-01-30 | 17.08x |
| 2026-01-29 | 17.22x |
| 2026-01-28 | 17.31x |
| 2026-01-27 | 17.23x |
| 2026-01-26 | 17.56x |
| 2026-01-23 | 17.56x |
| 2026-01-22 | 17.79x |
| 2026-01-21 | 17.84x |
| 2026-01-20 | 17.63x |
| 2026-01-16 | 18.07x |
| 2026-01-15 | 18.29x |
| 2026-01-14 | 17.82x |
| 2026-01-13 | 18.15x |
| 2026-01-12 | 18.22x |
| 2026-01-09 | 18.40x |
| 2026-01-08 | 18.24x |
| 2026-01-07 | 18.34x |
| 2026-01-06 | 18.42x |
| 2026-01-05 | 18.19x |
| 2026-01-02 | 18.02x |
| 2025-12-31 | 17.92x |
| 2025-12-30 | 17.89x |
| 2025-12-29 | 17.89x |
| 2025-12-26 | 18.11x |
| 2025-12-24 | 18.18x |
| 2025-12-23 | 18.07x |
| 2025-12-22 | 18.29x |
| 2025-12-19 | 18.11x |
| 2025-12-18 | 18.01x |
| 2025-12-17 | 17.78x |
| 2025-12-16 | 17.98x |
| 2025-12-15 | 17.56x |
| 2025-12-12 | 17.48x |
| 2025-12-11 | 17.62x |
| 2025-12-10 | 17.56x |
| 2025-12-09 | 17.38x |
| 2025-12-08 | 17.27x |
| 2025-12-05 | 17.31x |
| 2025-12-04 | 17.29x |
| 2025-12-03 | 17.62x |
| 2025-12-02 | 17.26x |
| 2025-12-01 | 16.98x |
| 2025-11-28 | 17.05x |
| 2025-11-26 | 17.02x |
| 2025-11-25 | 16.78x |
| 2025-11-24 | 16.49x |
| 2025-11-21 | 16.19x |
| 2025-11-20 | 16.00x |
| 2025-11-19 | 16.11x |
| 2025-11-18 | 16.16x |
| 2025-11-17 | 15.99x |
| 2025-11-14 | 16.44x |
| 2025-11-13 | 16.63x |
| 2025-11-12 | 16.87x |
| 2025-11-11 | 16.43x |
| 2025-11-10 | 16.54x |
| 2025-11-07 | 16.65x |
| 2025-11-06 | 16.50x |
| 2025-11-05 | 16.58x |
| 2025-11-04 | 16.06x |
| 2025-11-03 | 16.53x |
| 2025-10-31 | 16.35x |
| 2025-10-30 | 16.29x |
| 2025-10-29 | 16.52x |
| 2025-10-28 | 16.43x |
| 2025-10-27 | 16.77x |
| 2025-10-24 | 16.82x |
| 2025-10-23 | 16.50x |
| 2025-10-22 | 16.55x |
| 2025-10-21 | 16.89x |
| 2025-10-20 | 16.99x |
| 2025-10-17 | 16.80x |
| 2025-10-16 | 13.74x |
| 2025-10-15 | 14.21x |
| 2025-10-14 | 14.14x |
| 2025-10-13 | 13.82x |
| 2025-10-10 | 13.62x |
| 2025-10-09 | 13.99x |
| 2025-10-08 | 13.73x |
| 2025-10-07 | 13.61x |
| 2025-10-06 | 13.65x |
| 2025-10-03 | 13.51x |
| 2025-10-02 | 13.47x |
| 2025-10-01 | 13.33x |
| 2025-09-30 | 13.60x |
| 2025-09-29 | 13.78x |
| 2025-09-26 | 13.72x |
| 2025-09-25 | 13.82x |
| 2025-09-24 | 14.00x |
| 2025-09-23 | 14.22x |
| 2025-09-22 | 14.22x |
| 2025-09-19 | 14.40x |
| 2025-09-18 | 14.32x |
| 2025-09-17 | 14.33x |
| 2025-09-16 | 14.23x |
| 2025-09-15 | 14.25x |
| 2025-09-12 | 14.42x |
| 2025-09-11 | 14.64x |
| 2025-09-10 | 14.49x |
| 2025-09-09 | 14.34x |
| 2025-09-08 | 14.51x |
| 2025-09-05 | 14.42x |
| 2025-09-04 | 14.37x |
| 2025-09-03 | 14.38x |
| 2025-09-02 | 14.26x |
| 2025-08-29 | 14.29x |
| 2025-08-28 | 14.30x |
| 2025-08-27 | 14.23x |
Showing the most recent 260 of 3,405 data points. The chart above shows the full history.
