Question 1

What is Essex Property Trust's P/FCF ratio?

Accepted Answer

Essex Property Trust (ESS) P/FCF ratio is 19.1× as of June 5, 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 Essex Property Trust?

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 Essex Property Trust specifically, the relevant sector benchmark is the current sector median of 17.0×.

Question 5

Is Essex Property Trust's P/FCF ratio high or low?

Accepted Answer

Essex Property Trust's P/FCF ratio of 19.1× is below its own 5-year average of 20.5× and above the sector median of 17.0×. That places the current reading at the 43th 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 Essex Property Trust's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Essex Property Trust (ESS) P/FCF ratio has ranged from a low of 15.5× in 2023 to a high of 251.9× in 2012. The 5-year average is 20.5× and the 5-year median is 19.3×.

Question 7

What was Essex Property Trust's P/FCF ratio in 2025?

Accepted Answer

Essex Property Trust (ESS) P/FCF ratio at the end of 2025 was 17.3×. 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 Essex Property Trust'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	$16.87B	$973.61M	17.3×	-2.3×	Dec 31, 2025
2024	$18.33B	$931.91M	19.7×	+0.7×	Dec 31, 2024
2023	$15.91B	$839.69M	19.0×	+2.1×	Dec 31, 2023
2022	$13.72B	$812.46M	16.9×	-12.4×	Dec 31, 2022
2021	$22.95B	$784.06M	29.3×	+7.6×	Dec 31, 2021
2020	$15.46B	$713.02M	21.7×	-2.6×	Dec 31, 2020
2019	$19.88B	$817.39M	24.3×	+2.6×	Dec 31, 2019
2018	$16.19B	$744.87M	21.7×	-1.2×	Dec 31, 2018
2017	$15.94B	$695.16M	22.9×	-0.4×	Dec 31, 2017
2016	$15.23B	$652.51M	23.3×	-4.6×	Dec 31, 2016
2015	$15.64B	$560.13M	27.9×	-3.7×	Dec 31, 2015
2014	$13.09B	$414.12M	31.6×	+11.2×	Dec 31, 2014
2013	$5.38B	$264.05M	20.4×	-155.9×	Dec 31, 2013
2012	$5.26B	$29.86M	176.3×	—	Dec 31, 2012
2011	$4.70B	−$15.38M	—	—	Dec 31, 2011
2010	$3.39B	−$310.69M	—	—	Dec 31, 2010
2009	$2.52B	−$18.86M	—	—	Dec 31, 2009
2008	$1.90B	−$118.15M	—	—	Dec 31, 2008
2007	$2.45B	−$365.83M	—	—	Dec 31, 2007
2006	$2.99B	−$418.43M	—	—	Dec 31, 2006
2005	$2.11B	−$111.04M	—	—	Dec 31, 2005
2004	$1.92B	−$114.22M	—	—	Dec 31, 2004
2003	$1.36B	−$13.98M	—	—	Dec 31, 2003
2002	$932.88M	−$88.49M	—	—	Dec 31, 2002
2001	$911.63M	$23.73M	38.4×	—	Dec 31, 2001


Kimco Realty (KIM)	19.3×
Simon Property Group (SPG)	18.5×
SBA Communications (SBAC)	17.9×
BXP (BXP)	17.7×
Equity Residential (EQR)	17.6×
Federal Realty Investment Trust (FRT)	17.3×
STAG Industrial (STAG)	17.2×
Tanger (SKT)	17.0×
Extra Space Storage (EXR)	15.8×
Public Storage (PSA)	15.5×
AvalonBay Communities (AVB)	15.2×
Camden Property Trust (CPT)	14.3×
Realty Income (O)	13.6×
Invitation Homes (INVH)	13.3×
Crown Castle (CCI)	13.0×
Medical Properties Trust (MPT)	12.8×
Host Hotels & Resorts (HST)	12.7×
UDR (UDR)	12.4×
NNN REIT (NNN)	12.2×
VICI Properties (VICI)	11.4×
Universal Health Realty Income Trust (UHT)	11.3×
Healthpeak Properties (DOC)	9.7×
Arbor Realty Trust (ABR)	7.6×
Alexandria Real Estate Equities (ARE)	6.2×
Opendoor Technologies (OPEN)	4.2×

P/FCF Ratio for Essex Property Trust (ESS)

P/FCF Ratio daily chart for Essex Property Trust (ESS)

Historical P/FCF Ratio for Essex Property Trust (ESS) from 2001 to 2025

About P/FCF Ratio at Essex Property Trust (ESS)

Essex Property Trust P/FCF Ratio by Year

Essex Property Trust P/FCF Ratio 2025: 17.3×

Essex Property Trust P/FCF Ratio 2024: 19.7×

Essex Property Trust P/FCF Ratio 2023: 19.0×

Essex Property Trust P/FCF Ratio 2022: 16.9×

Essex Property Trust P/FCF Ratio 2021: 29.3×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Essex Property Trust (ESS) Key Financials

P/FCF Ratio daily chart for Essex Property Trust (ESS)

Historical P/FCF Ratio for Essex Property Trust (ESS) from 2001 to 2025

About P/FCF Ratio at Essex Property Trust (ESS)

Essex Property Trust P/FCF Ratio by Year

Essex Property Trust P/FCF Ratio 2025: 17.3×

Essex Property Trust P/FCF Ratio 2024: 19.7×

Essex Property Trust P/FCF Ratio 2023: 19.0×

Essex Property Trust P/FCF Ratio 2022: 16.9×

Essex Property Trust P/FCF Ratio 2021: 29.3×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Essex Property Trust's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Essex Property Trust?

+Is Essex Property Trust's P/FCF ratio high or low?

+What is Essex Property Trust's historical P/FCF ratio range?

+What was Essex Property Trust's P/FCF ratio in 2025?

+Why does Essex Property Trust's P/FCF ratio change over time?

Essex Property Trust (ESS) Key Financials