Basis: Latest stored market observation. 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 135.92x is 210% above its 5-year average of 43.85x, near the high end of its 5-year range (28.64x–138.69x).
As of Saturday, July 25, 2026. 280.20% above its 12-month average of 35.75x.
EV/FCF RATIO
135.92x
EV/FCF RATIO AVG TTM
35.75x
EV/FCF RATIO AVG 3Y
40.61x
EV/FCF RATIO AVG 5Y
40.10x
EV/FCF RATIO AVG 10Y
34.81x
EV/FCF RATIO AVG 15Y
31.31x
EV/FCF RATIO AVG 20Y
28.66x
CURRENT VS TTM AVG
+280.20%
CURRENT VS 3Y AVG
+234.67%
CURRENT VS 5Y AVG
+238.96%
CURRENT VS 10Y AVG
+290.51%
CURRENT VS 15Y AVG
+334.09%
CURRENT VS 20Y AVG
+374.25%
SECTOR MEDIAN · HEALTHCARE
24.11x
median of 74 covered companies
CURRENT VS SECTOR MEDIAN
+463.75%
vs the sector median at left
Waters Corporation
Market Cap
$24.42B
EV/FCF Ratio
135.92x
TTM Avg
35.75x
3Y Avg
40.61x
5Y Avg
40.10x
Market Cap
$24.34B
EV/FCF Ratio
22.30x
TTM Avg
22.03x
3Y Avg
25.47x
5Y Avg
20.64x
Market Cap
$25.15B
EV/FCF Ratio
23.19x
TTM Avg
20.81x
3Y Avg
23.82x
5Y Avg
19.88x
Market Cap
$23.51B
EV/FCF Ratio
14.41x
TTM Avg
14.40x
3Y Avg
96.40x
5Y Avg
65.61x
Market Cap
$23.10B
EV/FCF Ratio
53.28x
TTM Avg
49.13x
3Y Avg
59.01x
5Y Avg
64.21x
Market Cap
$22.43B
EV/FCF Ratio
23.47x
TTM Avg
20.23x
3Y Avg
17.29x
5Y Avg
17.20x
Market Cap
$26.82B
EV/FCF Ratio
36.65x
TTM Avg
34.22x
3Y Avg
33.35x
5Y Avg
38.05x
| NAME | MARKET CAP | EV/FCF RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Waters Corporation (WAT) | $24.42B | 135.92x | 35.75x | 40.61x | 40.10x |
| Labcorp Holdings Inc. (LH)vs › | $24.34B | 22.30x | 22.03x | 25.47x | 20.64x |
| Quest Diagnostics Incorporated (DGX)vs › | $25.15B | 23.19x | 20.81x | 23.82x | 19.88x |
| Incyte Corporation (INCY)vs › | $23.51B | 14.41x | 14.40x | 96.40x | 65.61x |
| West Pharmaceutical Services, Inc. (WST)vs › | $23.10B | 53.28x | 49.13x | 59.01x | 64.21x |
| BioNTech SE (BNTX)vs › | $22.59B | 7.66x | 17.64x | 6.63x | 11.16x |
| United Therapeutics Corporation (UTHR)vs › | $22.43B | 23.47x | 20.23x | 17.29x | 17.20x |
| Mettler-Toledo International Inc. (MTD)vs › | $26.82B | 36.65x | 34.22x | 33.35x | 38.05x |
| Moderna, Inc. (MRNA)vs › | $21.45B | N/A | 26.90x | 26.23x | 26.23x |
| GE HealthCare Technologies Inc. (GEHC)vs › | $27.56B | 23.67x | 27.24x | 26.87x | 26.57x |
EV/FCF
135.9x
P/FCF
116.6x
FCF Yield
0.86%
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 |
|---|---|
| 2026-07-24 | 135.92x |
| 2026-07-23 | 138.33x |
| 2026-07-22 | 134.72x |
| 2026-07-21 | 133.71x |
| 2026-07-20 | 130.59x |
| 2026-07-17 | 134.15x |
| 2026-07-16 | 137.02x |
| 2026-07-15 | 136.00x |
| 2026-07-14 | 136.46x |
| 2026-07-13 | 135.47x |
| 2026-07-10 | 136.47x |
| 2026-07-09 | 136.69x |
| 2026-07-08 | 133.89x |
| 2026-07-07 | 136.00x |
| 2026-07-06 | 137.23x |
| 2026-07-02 | 137.36x |
| 2026-07-01 | 137.00x |
| 2026-06-30 | 136.04x |
| 2026-06-29 | 134.12x |
| 2026-06-26 | 135.84x |
| 2026-06-25 | 136.61x |
| 2026-06-24 | 134.21x |
| 2026-06-23 | 130.49x |
| 2026-06-22 | 130.81x |
| 2026-06-18 | 129.94x |
| 2026-06-17 | 130.42x |
| 2026-06-16 | 131.52x |
| 2026-06-15 | 130.66x |
| 2026-06-12 | 129.97x |
| 2026-06-11 | 131.28x |
| 2026-06-10 | 132.35x |
| 2026-06-09 | 134.83x |
| 2026-06-08 | 132.40x |
| 2026-06-05 | 133.02x |
| 2026-06-04 | 136.48x |
| 2026-06-03 | 137.51x |
| 2026-06-02 | 135.07x |
| 2026-06-01 | 137.01x |
| 2026-05-29 | 138.69x |
| 2026-05-28 | 133.43x |
| 2026-05-27 | 125.81x |
| 2026-05-26 | 124.71x |
| 2026-05-22 | 125.87x |
| 2026-05-21 | 125.44x |
| 2026-05-20 | 125.54x |
| 2026-05-19 | 123.04x |
| 2026-05-18 | 122.70x |
| 2026-05-15 | 121.78x |
| 2026-05-14 | 123.02x |
| 2026-05-13 | 123.56x |
| 2026-05-12 | 128.93x |
| 2026-05-11 | 40.21x |
| 2026-05-08 | 40.99x |
| 2026-05-07 | 40.48x |
| 2026-05-06 | 40.37x |
| 2026-05-05 | 39.60x |
| 2026-05-04 | 35.09x |
| 2026-05-01 | 35.67x |
| 2026-04-30 | 35.91x |
| 2026-04-29 | 34.02x |
| 2026-04-28 | 34.97x |
| 2026-04-27 | 34.86x |
| 2026-04-24 | 35.98x |
| 2026-04-23 | 36.13x |
| 2026-04-22 | 38.69x |
| 2026-04-21 | 38.79x |
| 2026-04-20 | 38.83x |
| 2026-04-17 | 37.96x |
| 2026-04-16 | 36.99x |
| 2026-04-15 | 37.79x |
| 2026-04-14 | 38.32x |
| 2026-04-13 | 37.62x |
| 2026-04-10 | 37.10x |
| 2026-04-09 | 36.84x |
| 2026-04-08 | 36.94x |
| 2026-04-07 | 35.70x |
| 2026-04-06 | 35.34x |
| 2026-04-02 | 35.36x |
| 2026-04-01 | 34.87x |
| 2026-03-31 | 34.64x |
| 2026-03-30 | 34.15x |
| 2026-03-27 | 33.69x |
| 2026-03-26 | 34.95x |
| 2026-03-25 | 35.14x |
| 2026-03-24 | 35.10x |
| 2026-03-23 | 35.09x |
| 2026-03-20 | 34.77x |
| 2026-03-19 | 34.84x |
| 2026-03-18 | 34.34x |
| 2026-03-17 | 34.55x |
| 2026-03-16 | 33.78x |
| 2026-03-13 | 33.40x |
| 2026-03-12 | 33.04x |
| 2026-03-11 | 34.61x |
| 2026-03-10 | 34.85x |
| 2026-03-09 | 35.51x |
| 2026-03-06 | 35.17x |
| 2026-03-05 | 36.61x |
| 2026-03-04 | 36.99x |
| 2026-03-03 | 36.23x |
| 2026-03-02 | 35.69x |
| 2026-02-27 | 37.03x |
| 2026-02-26 | 37.41x |
| 2026-02-25 | 37.04x |
| 2026-02-24 | 37.80x |
| 2026-02-23 | 37.96x |
| 2026-02-20 | 34.70x |
| 2026-02-19 | 34.24x |
| 2026-02-18 | 34.13x |
| 2026-02-17 | 33.53x |
| 2026-02-13 | 33.72x |
| 2026-02-12 | 33.37x |
| 2026-02-11 | 34.30x |
| 2026-02-10 | 34.08x |
| 2026-02-09 | 34.19x |
| 2026-02-06 | 39.45x |
| 2026-02-05 | 39.02x |
| 2026-02-04 | 39.75x |
| 2026-02-03 | 39.22x |
| 2026-02-02 | 39.26x |
| 2026-01-30 | 38.41x |
| 2026-01-29 | 38.85x |
| 2026-01-28 | 39.82x |
| 2026-01-27 | 40.32x |
| 2026-01-26 | 40.40x |
| 2026-01-23 | 40.54x |
| 2026-01-22 | 41.35x |
| 2026-01-21 | 40.98x |
| 2026-01-20 | 39.71x |
| 2026-01-16 | 40.05x |
| 2026-01-15 | 40.77x |
| 2026-01-14 | 40.63x |
| 2026-01-13 | 40.71x |
| 2026-01-12 | 40.68x |
| 2026-01-09 | 40.98x |
| 2026-01-08 | 40.97x |
| 2026-01-07 | 41.25x |
| 2026-01-06 | 41.36x |
| 2026-01-05 | 40.81x |
| 2026-01-02 | 39.52x |
| 2025-12-31 | 39.31x |
| 2025-12-30 | 39.72x |
| 2025-12-29 | 39.83x |
| 2025-12-26 | 39.92x |
| 2025-12-24 | 39.80x |
| 2025-12-23 | 39.64x |
| 2025-12-22 | 39.73x |
| 2025-12-19 | 39.13x |
| 2025-12-18 | 38.96x |
| 2025-12-17 | 39.04x |
| 2025-12-16 | 39.18x |
| 2025-12-15 | 39.86x |
| 2025-12-12 | 39.85x |
| 2025-12-11 | 40.53x |
| 2025-12-10 | 40.89x |
| 2025-12-09 | 39.93x |
| 2025-12-08 | 40.59x |
| 2025-12-05 | 40.79x |
| 2025-12-04 | 40.94x |
| 2025-12-03 | 41.07x |
| 2025-12-02 | 41.17x |
| 2025-12-01 | 41.09x |
| 2025-11-28 | 41.64x |
| 2025-11-26 | 42.01x |
| 2025-11-25 | 42.55x |
| 2025-11-24 | 41.26x |
| 2025-11-21 | 40.71x |
| 2025-11-20 | 39.19x |
| 2025-11-19 | 38.95x |
| 2025-11-18 | 38.99x |
| 2025-11-17 | 39.12x |
| 2025-11-14 | 39.26x |
| 2025-11-13 | 39.25x |
| 2025-11-12 | 40.05x |
| 2025-11-11 | 39.93x |
| 2025-11-10 | 38.98x |
| 2025-11-07 | 38.50x |
| 2025-11-06 | 38.45x |
| 2025-11-05 | 38.53x |
| 2025-11-04 | 38.07x |
| 2025-11-03 | 35.18x |
| 2025-10-31 | 35.56x |
| 2025-10-30 | 34.92x |
| 2025-10-29 | 34.97x |
| 2025-10-28 | 35.21x |
| 2025-10-27 | 35.77x |
| 2025-10-24 | 36.52x |
| 2025-10-23 | 36.15x |
| 2025-10-22 | 35.47x |
| 2025-10-21 | 35.53x |
| 2025-10-20 | 34.95x |
| 2025-10-17 | 34.12x |
| 2025-10-16 | 34.15x |
| 2025-10-15 | 33.91x |
| 2025-10-14 | 33.98x |
| 2025-10-13 | 34.29x |
| 2025-10-10 | 33.77x |
| 2025-10-09 | 33.72x |
| 2025-10-08 | 33.45x |
| 2025-10-07 | 32.55x |
| 2025-10-06 | 33.45x |
| 2025-10-03 | 33.52x |
| 2025-10-02 | 32.90x |
| 2025-10-01 | 32.69x |
| 2025-09-30 | 30.77x |
| 2025-09-29 | 29.77x |
| 2025-09-26 | 29.99x |
| 2025-09-25 | 29.61x |
| 2025-09-24 | 30.08x |
| 2025-09-23 | 30.71x |
| 2025-09-22 | 31.03x |
| 2025-09-19 | 30.87x |
| 2025-09-18 | 31.40x |
| 2025-09-17 | 31.14x |
| 2025-09-16 | 31.08x |
| 2025-09-15 | 30.69x |
| 2025-09-12 | 30.34x |
| 2025-09-11 | 31.02x |
| 2025-09-10 | 30.12x |
| 2025-09-09 | 30.84x |
| 2025-09-08 | 31.69x |
| 2025-09-05 | 31.40x |
| 2025-09-04 | 30.76x |
| 2025-09-03 | 29.83x |
| 2025-09-02 | 30.45x |
| 2025-08-29 | 30.96x |
| 2025-08-28 | 30.56x |
| 2025-08-27 | 30.27x |
| 2025-08-26 | 30.41x |
| 2025-08-25 | 30.69x |
| 2025-08-22 | 31.00x |
| 2025-08-21 | 29.87x |
| 2025-08-20 | 30.47x |
| 2025-08-19 | 30.57x |
| 2025-08-18 | 29.77x |
| 2025-08-15 | 29.97x |
| 2025-08-14 | 30.16x |
| 2025-08-13 | 30.48x |
| 2025-08-12 | 29.39x |
| 2025-08-11 | 28.79x |
| 2025-08-08 | 28.98x |
| 2025-08-07 | 28.67x |
| 2025-08-06 | 28.64x |
| 2025-08-05 | 28.98x |
| 2025-08-04 | 29.40x |
| 2025-08-01 | 29.86x |
| 2025-07-31 | 29.71x |
| 2025-07-30 | 30.70x |
| 2025-07-29 | 31.10x |
| 2025-07-28 | 31.02x |
| 2025-07-25 | 31.08x |
| 2025-07-24 | 30.64x |
| 2025-07-23 | 30.37x |
| 2025-07-22 | 29.58x |
| 2025-07-21 | 29.02x |
| 2025-07-18 | 29.59x |
| 2025-07-17 | 30.49x |
| 2025-07-16 | 29.78x |
| 2025-07-15 | 29.78x |
| 2025-07-14 | 31.19x |
Showing the most recent 260 of 5,032 data points. The chart above shows the full history.
