Question 1

What is EQT's P/FCF ratio?

Accepted Answer

EQT (EQT) P/FCF ratio is 9.0× 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 EQT?

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 EQT specifically, the relevant sector benchmark is the current sector median of 22.1×.

Question 5

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

Accepted Answer

EQT's P/FCF ratio of 9.0× is below its own 5-year average of 17.4× and below the sector median of 22.1×. That places the current reading at the 28th 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 EQT's historical P/FCF ratio range?

Accepted Answer

In the available daily series, EQT (EQT) P/FCF ratio has ranged from a low of 4.9× in 2023 to a high of 427.8× in 2002. The 5-year average is 17.4× and the 5-year median is 12.7×.

Question 7

What was EQT's P/FCF ratio in 2025?

Accepted Answer

EQT (EQT) P/FCF ratio at the end of 2025 was 11.8×. 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 EQT'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	$33.5B	$2.85B	11.8×	-36.7×	Dec 31, 2025
2024	$27.8B	$573M	48.5×	+34.6×	Dec 31, 2024
2023	$16.1B	$1.16B	13.9×	+7.9×	Dec 31, 2023
2022	$12.4B	$2.07B	6.0×	-7.6×	Dec 31, 2022
2021	$8.24B	$607M	13.6×	+6.6×	Dec 31, 2021
2020	$3.46B	$495M	7.0×	-4.2×	Dec 31, 2020
2019	$2.78B	$249M	11.2×	—	Dec 31, 2019
2018	$4.81B	-$756M	—	—	Dec 31, 2018
2017	$6.78B	-$1.12B	—	—	Dec 31, 2017
2016	$6.16B	-$1.53B	—	—	Dec 31, 2016
2015	$4.33B	-$1.22B	—	—	Dec 31, 2015
2014	$6.25B	-$1.04B	—	—	Dec 31, 2014
2013	$7.37B	-$601M	—	—	Dec 31, 2013
2012	$4.81B	-$579M	—	—	Dec 31, 2012
2011	$4.46B	-$359M	—	—	Dec 31, 2011
2010	$3.63B	-$461M	—	—	Dec 31, 2010
2009	$3.13B	-$238M	—	—	Dec 31, 2009
2008	$2.38B	-$835M	—	—	Dec 31, 2008
2007	$3.52B	-$350M	—	—	Dec 31, 2007
2006	$2.73B	$215M	12.7×	—	Dec 31, 2006
2005	$2.39B	-$588M	—	—	Dec 31, 2005
2004	$2.01B	-$26M	—	—	Dec 31, 2004
2003	$1.45B	-$100M	—	—	Dec 31, 2003
2002	$1.18B	-$5.48M	—	—	Dec 31, 2002


Phillips 66 (PSX)	615.5×
Targa Resources (TRGP)	205.8×
Williams Companies (WMB)	123.3×
Enbridge (ENB)	73.7×
Texas Pacific Land (TPL)	66.3×
Diamondback Energy (FANG)	35.1×
Enphase Energy (ENPH)	34.2×
Chevron (CVX)	30.6×
National Fuel Gas (NFG)	29.1×
Baker Hughes (BKR)	26.4×
ONEOK (OKE)	25.4×
EOG Resources (EOG)	18.9×
Energy Transfer LP (ET)	18.2×
Occidental Petroleum (OXY)	17.8×
SLB (SLB)	16.5×
Halliburton (HAL)	16.5×
Marathon Petroleum (MPC)	12.6×
Valero Energy (VLO)	12.4×
Devon Energy (DVN)	11.9×
ConocoPhillips (COP)	10.5×
APA (APA)	10.1×
Expand Energy (EXE)	9.2×

P/FCF Ratio for EQT (EQT) 2006-2026

P/FCF Ratio daily chart for EQT (EQT)

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

About P/FCF Ratio at EQT (EQT)

EQT P/FCF Ratio by Year

EQT P/FCF Ratio 2025: 11.8×

EQT P/FCF Ratio 2024: 48.5×

EQT P/FCF Ratio 2023: 13.9×

EQT P/FCF Ratio 2022: 6.0×

EQT P/FCF Ratio 2021: 13.6×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

EQT (EQT) Key Financials