Question 1

What is CF Industries Holdings's P/FCF ratio?

Accepted Answer

CF Industries Holdings (CF) P/FCF ratio is 12.1× 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 CF Industries Holdings?

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 CF Industries Holdings specifically, the relevant sector benchmark is the current sector median of 25.9×.

Question 5

Is CF Industries Holdings's P/FCF ratio high or low?

Accepted Answer

CF Industries Holdings's P/FCF ratio of 12.1× is above its own 5-year average of 12.0× and below the sector median of 25.9×. 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 CF Industries Holdings's historical P/FCF ratio range?

Accepted Answer

In the available daily series, CF Industries Holdings (CF) P/FCF ratio has ranged from a low of 3.8× in 2011 to a high of 155.5× in 2010. The 5-year average is 12.0× and the 5-year median is 7.7×.

Question 7

What was CF Industries Holdings's P/FCF ratio in 2025?

Accepted Answer

CF Industries Holdings (CF) P/FCF ratio at the end of 2025 was 6.7×. 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 CF Industries Holdings'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	$12.1B	$1.8B	6.7×	-1.7×	Dec 31, 2025
2024	$14.8B	$1.75B	8.4×	-6.2×	Dec 31, 2024
2023	$15.1B	$1.03B	14.7×	+9.7×	Dec 31, 2023
2022	$16.8B	$3.39B	4.9×	-1.5×	Dec 31, 2022
2021	$15.1B	$2.35B	6.4×	-2.6×	Dec 31, 2021
2020	$8.3B	$922M	9.0×	-0.4×	Dec 31, 2020
2019	$10.4B	$1.1B	9.4×	+0.2×	Dec 31, 2019
2018	$9.97B	$1.08B	9.3×	+0.7×	Dec 31, 2018
2017	$9.93B	$1.16B	8.6×	—	Dec 31, 2017
2016	$7.3B	-$1.59B	—	—	Dec 31, 2016
2015	$9.51B	-$1.27B	—	—	Dec 31, 2015
2014	$13.4B	-$400M	—	—	Dec 31, 2014
2013	$13.3B	$643M	20.6×	+13.7×	Dec 31, 2013
2012	$12.8B	$1.85B	6.9×	+1.7×	Dec 31, 2012
2011	$9.48B	$1.83B	5.2×	-4.2×	Dec 31, 2011
2010	$8.74B	$936M	9.3×	-0.5×	Dec 31, 2010
2009	$4.4B	$446M	9.9×	+4.4×	Dec 31, 2009
2008	$2.72B	$497M	5.5×	-5.0×	Dec 31, 2008
2007	$6.11B	$585M	10.4×	+0.7×	Dec 31, 2007
2006	$1.41B	$144M	9.8×	—	Dec 31, 2006
2005	$839M	—	—	—	Dec 31, 2005


Solstice Advanced Materials (SOLS)	93.8×
Nucor (NUE)	74.2×
Air Products and Chemicals (APD)	58.4×
International Flavors & Fragrances (IFF)	46.7×
Linde (LIN)	45.1×
Ecolab (ECL)	40.1×
Albemarle (ALB)	36.7×
International Paper (IP)	35.2×
Steel Dynamics (STLD)	34.7×
Martin Marietta Materials (MLM)	34.3×
Vulcan Materials (VMC)	32.2×
Corteva (CTVA)	27.5×
Sherwin-Williams (SHW)	27.1×
H.B. Fuller (FUL)	24.8×
CRH (CRH)	24.4×
Agnico Eagle Mines (AEM)	22.3×
PPG Industries (PPG)	19.5×
Eastman Chemical (EMN)	17.5×
DuPont de Nemours (DD)	17.0×
Avient (AVNT)	16.2×
Freeport-McMoRan (FCX)	13.6×
Builders FirstSource (BLDR)	10.5×
Newmont (NEM)	9.6×
LyondellBasell (LYB)	9.3×
Ashland (ASH)	7.6×

P/FCF Ratio for CF Industries Holdings (CF) 2006-2026

P/FCF Ratio daily chart for CF Industries Holdings (CF)

Historical P/FCF Ratio for CF Industries Holdings (CF) from 2005 to 2025

About P/FCF Ratio at CF Industries Holdings (CF)

CF Industries Holdings P/FCF Ratio by Year

CF Industries Holdings P/FCF Ratio 2025: 6.7×

CF Industries Holdings P/FCF Ratio 2024: 8.4×

CF Industries Holdings P/FCF Ratio 2023: 14.7×

CF Industries Holdings P/FCF Ratio 2022: 4.9×

CF Industries Holdings P/FCF Ratio 2021: 6.4×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

CF Industries Holdings (CF) Key Financials