Question 1

What is Comfort Systems USA's P/FCF ratio?

Accepted Answer

Comfort Systems USA (FIX) P/FCF ratio is 45.7× 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 Comfort Systems USA?

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 Comfort Systems USA specifically, the relevant sector benchmark is the current sector median of 24.3×.

Question 5

Is Comfort Systems USA's P/FCF ratio high or low?

Accepted Answer

Comfort Systems USA's P/FCF ratio of 45.7× is above its own 5-year average of 21.4× and above the sector median of 24.3×. That places the current reading at the 88th 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 Comfort Systems USA's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Comfort Systems USA (FIX) P/FCF ratio has ranged from a low of 3.4× in 2002 to a high of 59.3× in 2026. The 5-year average is 21.4× and the 5-year median is 20.5×.

Question 7

What was Comfort Systems USA's P/FCF ratio in 2025?

Accepted Answer

Comfort Systems USA (FIX) P/FCF ratio at the end of 2025 was 31.9×. 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 Comfort Systems USA'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	$32.9B	$1.03B	31.9×	+11.4×	Dec 31, 2025
2024	$15.1B	$738M	20.5×	+7.0×	Dec 31, 2024
2023	$7.35B	$545M	13.5×	-2.8×	Dec 31, 2023
2022	$4.12B	$253M	16.3×	-6.5×	Dec 31, 2022
2021	$3.59B	$158M	22.8×	+15.5×	Dec 31, 2021
2020	$1.91B	$262M	7.3×	-9.3×	Dec 31, 2020
2019	$1.83B	$110M	16.6×	+3.1×	Dec 31, 2019
2018	$1.62B	$120M	13.5×	-7.1×	Dec 31, 2018
2017	$1.62B	$78.6M	20.6×	+2.4×	Dec 31, 2017
2016	$1.24B	$67.9M	18.2×	+4.4×	Dec 31, 2016
2015	$1.06B	$77.1M	13.8×	-13.5×	Dec 31, 2015
2014	$638M	$23.4M	27.3×	-7.2×	Dec 31, 2014
2013	$726M	$21M	34.5×	+10.5×	Dec 31, 2013
2012	$451M	$18.7M	24.1×	+5.2×	Dec 31, 2012
2011	$397M	$21M	18.9×	-0.8×	Dec 31, 2011
2010	$494M	$25.1M	19.7×	+9.4×	Dec 31, 2010
2009	$463M	$44.8M	10.3×	+4.4×	Dec 31, 2009
2008	$408M	$68.3M	6.0×	-1.0×	Dec 31, 2008
2007	$509M	$72.6M	7.0×	-46.1×	Dec 31, 2007
2006	$511M	$9.62M	53.2×	+41.5×	Dec 31, 2006
2005	$365M	$31.3M	11.7×	-2.4×	Dec 31, 2005
2004	$298M	$21.2M	14.0×	-6.7×	Dec 31, 2004
2003	$209M	$10.1M	20.7×	+6.5×	Dec 31, 2003
2002	$125M	$8.77M	14.2×	—	Dec 31, 2002


Thomson Reuters (TRI)	18.8×
PACCAR (PCAR)	18.6×
United Parcel Service (UPS)	18.5×
Gorman-Rupp (GRC)	18.5×
Alamo Group (ALG)	18.0×
Allegion (ALLE)	17.8×
Snap-on (SNA)	17.6×
United Airlines Holdings (UAL)	17.5×
Honeywell International (HON)	17.4×
Equifax (EFX)	17.0×
Norfolk Southern (NSC)	16.9×
FedEx (FDX)	15.9×
AGCO (AGCO)	15.4×
General Dynamics (GD)	15.3×
Carlisle Companies (CSL)	14.7×
Amentum Holdings (AMTM)	14.7×
Stanley Black & Decker (SWK)	14.4×
A. O. Smith (AOS)	14.2×
Huntington Ingalls Industries (HII)	14.1×
McGrath RentCorp (MGRC)	13.9×
Masco (MAS)	13.0×
Pool (POOL)	12.2×
Delta Air Lines (DAL)	10.1×
ABM Industries (ABM)	7.2×
Upwork (UPWK)	6.3×

P/FCF Ratio for Comfort Systems USA (FIX) 2002-2026

P/FCF Ratio daily chart for Comfort Systems USA (FIX)

Historical P/FCF Ratio for Comfort Systems USA (FIX) from 2002 to 2025

About P/FCF Ratio at Comfort Systems USA (FIX)

Comfort Systems USA P/FCF Ratio by Year

Comfort Systems USA P/FCF Ratio 2025: 31.9×

Comfort Systems USA P/FCF Ratio 2024: 20.5×

Comfort Systems USA P/FCF Ratio 2023: 13.5×

Comfort Systems USA P/FCF Ratio 2022: 16.3×

Comfort Systems USA P/FCF Ratio 2021: 22.8×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Comfort Systems USA (FIX) Key Financials