Question 1

What is Arrow Financial's P/FCF ratio?

Accepted Answer

Arrow Financial (AROW) P/FCF ratio is 16.2× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Arrow Financial?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Arrow Financial specifically, the relevant sector benchmark is the current sector median of 12.0×.

Question 5

Is Arrow Financial's P/FCF ratio high or low?

Accepted Answer

Arrow Financial's P/FCF ratio of 16.2× is below its own 5-year average of 17.9× and above the sector median of 12.0×. That places the current reading at the 73th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Arrow Financial's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Arrow Financial (AROW) P/FCF ratio has ranged from a low of 6.3× in 2023 to a high of 73.1× in 2024. The 5-year average is 17.9× and the 5-year median is 12.9×.

Question 7

What was Arrow Financial's P/FCF ratio in 2025?

Accepted Answer

Arrow Financial (AROW) P/FCF ratio at the end of 2025 was 14.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Arrow Financial's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$515M	$36.2M	14.2×	-2.4×	Dec 31, 2025
2024	$480M	$28.9M	16.6×	-18.6×	Dec 31, 2024
2023	$475M	$13.5M	35.2×	+22.5×	Dec 31, 2023
2022	$577M	$45.5M	12.7×	+3.5×	Dec 31, 2022
2021	$565M	$61.1M	9.2×	-3.6×	Dec 31, 2021
2020	$477M	$37.2M	12.8×	-3.8×	Dec 31, 2020
2019	$601M	$36.2M	16.6×	+3.3×	Dec 31, 2019
2018	$491M	$36.9M	13.3×	-0.9×	Dec 31, 2018
2017	$501M	$35.2M	14.2×	-3.1×	Dec 31, 2017
2016	$577M	$33.3M	17.4×	+3.3×	Dec 31, 2016
2015	$384M	$27.3M	14.0×	+1.1×	Dec 31, 2015
2014	$379M	$29.2M	13.0×	+2.6×	Dec 31, 2014
2013	$358M	$34.4M	10.4×	-3.0×	Dec 31, 2013
2012	$328M	$24.4M	13.4×	+3.6×	Dec 31, 2012
2011	$302M	$30.7M	9.8×	-27.1×	Dec 31, 2011
2010	$338M	$9.14M	37.0×	+18.9×	Dec 31, 2010
2009	$298M	$16.5M	18.1×	+6.2×	Dec 31, 2009
2008	$289M	$24.3M	11.9×	-0.7×	Dec 31, 2008
2007	$249M	$19.8M	12.6×	-2.1×	Dec 31, 2007
2006	$321M	$21.8M	14.7×	+1.2×	Dec 31, 2006
2005	$305M	$22.7M	13.5×	-9.1×	Dec 31, 2005
2004	$441M	$19.6M	22.5×	+10.5×	Dec 31, 2004
2003	$298M	$24.6M	12.1×	-0.9×	Dec 31, 2003
2002	$226M	$17.4M	13.0×	—	Dec 31, 2002


UMB Financial (UMBF)	8.8×
Federal Agricultural Mortgage (AGM)	8.6×
T. Rowe Price (TROW)	8.6×
First Financial (THFF)	8.3×
Old Republic International (ORI)	8.0×
1st Source (SRCE)	8.0×
Auburn National Bancorporation (AUBN)	7.7×
Eagle Financial Services (EFSI)	7.5×
PayPal (PYPL)	7.5×
Assurant (AIZ)	7.5×
Cincinnati Financial (CINF)	7.1×
Alerus Financial (ALRS)	7.0×
American Financial Group (AFG)	6.8×
Hartford Insurance Group (HIG)	6.5×
Travelers Companies (TRV)	6.3×
Invesco (IVZ)	6.1×
Arch Capital Group (ACGL)	5.9×
Principal Financial Group (PFG)	5.5×
Allstate (ALL)	4.7×
Everest Group (EG)	4.6×
Capital One Financial (COF)	3.9×
Prudential Financial (PRU)	3.5×
Mercury General (MCY)	3.4×
MetLife (MET)	2.8×
StoneX Group (SNEX)	0.8×

P/FCF Ratio for Arrow Financial (AROW) 2002-2026

P/FCF Ratio daily chart for Arrow Financial (AROW)

Historical P/FCF Ratio for Arrow Financial (AROW) from 2002 to 2025

About P/FCF Ratio at Arrow Financial (AROW)

Arrow Financial P/FCF Ratio by Year

Arrow Financial P/FCF Ratio 2025: 14.2×

Arrow Financial P/FCF Ratio 2024: 16.6×

Arrow Financial P/FCF Ratio 2023: 35.2×

Arrow Financial P/FCF Ratio 2022: 12.7×

Arrow Financial P/FCF Ratio 2021: 9.2×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Arrow Financial (AROW) Key Financials