Question 1

What is Brookfield's P/FCF ratio?

Accepted Answer

Brookfield (BN) P/FCF ratio is 126.8× as of February 7, 2024. 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 Brookfield?

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 Brookfield specifically, the relevant sector benchmark is the current sector median of 12.0×.

Question 5

Is Brookfield's P/FCF ratio high or low?

Accepted Answer

Brookfield's P/FCF ratio of 126.8× is above its own 5-year average of 67.2× and above the sector median of 12.0×. That places the current reading at the 72th 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 Brookfield's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Brookfield (BN) P/FCF ratio has ranged from a low of 5.2× in 2004 to a high of 239.8× in 2023. The 5-year average is 67.2× and the 5-year median is 49.3×.

Question 7

What was Brookfield's P/FCF ratio in 2022?

Accepted Answer

Brookfield (BN) P/FCF ratio at the end of 2022 was 34.5×. 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 Brookfield'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	$115B	-$2.79B	—	—	Dec 31, 2025
2024	$86.7B	-$3.62B	—	—	Dec 31, 2024
2023	$61.8B	-$1.65B	—	—	Dec 31, 2023
2022	$49.5B	$1.44B	34.5×	-41.8×	Dec 31, 2022
2021	$75.4B	$988M	76.3×	+64.9×	Dec 31, 2021
2020	$50.1B	$4.39B	11.4×	-2.8×	Dec 31, 2020
2019	$46.7B	$3.29B	14.2×	+4.7×	Dec 31, 2019
2018	$29.5B	$3.1B	9.5×	-4.7×	Dec 31, 2018
2017	$33.5B	$2.36B	14.2×	-4.9×	Dec 31, 2017
2016	$30.6B	$1.6B	19.1×	+4.0×	Dec 31, 2016
2015	$25.2B	$1.67B	15.1×	+5.8×	Dec 31, 2015
2014	$25.4B	$2.75B	9.2×	-20.0×	Dec 31, 2014
2013	$19.8B	$678M	29.2×	—	Dec 31, 2013
2012	$18.6B	-$2.12B	—	—	Dec 31, 2012
2011	$11.9B	-$1.36B	—	—	Dec 31, 2011
2010	$13.4B	$887M	15.1×	—	Dec 31, 2010
2009	$8.64B	-$1.33B	—	—	Dec 31, 2009
2008	$6B	$378M	15.9×	—	Dec 31, 2008
2007	$14.1B	-$4.34B	—	—	Dec 31, 2007
2006	$12.9B	-$8.34B	—	—	Dec 31, 2006
2005	$8.94B	-$2.94B	—	—	Dec 31, 2005
2004	$6.45B	$788M	8.2×	+2.6×	Dec 31, 2004
2003	$3.57B	$639M	5.6×	—	Dec 31, 2003
2002	$2.4B	-$553M	—	—	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 Brookfield (BN) 2003-2026

P/FCF Ratio daily chart for Brookfield (BN)

Historical P/FCF Ratio for Brookfield (BN) from 2002 to 2025

About P/FCF Ratio at Brookfield (BN)

Brookfield P/FCF Ratio by Year

Brookfield P/FCF Ratio 2022: 34.5×

Brookfield P/FCF Ratio 2021: 76.3×

Brookfield P/FCF Ratio 2020: 11.4×

Brookfield P/FCF Ratio 2019: 14.2×

Brookfield P/FCF Ratio 2018: 9.5×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Brookfield (BN) Key Financials