Question 1

What is Flex's P/FCF ratio?

Accepted Answer

Flex (FLEX) P/FCF ratio is 36.0× as of July 29, 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 Flex?

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 Flex specifically, the relevant sector benchmark is the current sector median of 21.9×.

Question 5

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

Accepted Answer

Flex's P/FCF ratio of 36.0× is above its own 5-year average of 22.9× and above the sector median of 21.9×. That places the current reading at the 80th 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 Flex's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Flex (FLEX) P/FCF ratio has ranged from a low of 2.7× in 2009 to a high of 1444.9× in 2004. The 5-year average is 22.9× and the 5-year median is 19.6×.

Question 7

What was Flex's P/FCF ratio in 2026?

Accepted Answer

Flex (FLEX) P/FCF ratio at the end of 2026 was 23.3×. 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 Flex'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.


2026	$24.5B	$1.05B	23.3×	+11.2×	Mar 31, 2026
2025	$12.9B	$1.07B	12.1×	-3.0×	Mar 31, 2025
2024	$12B	$796M	15.0×	-17.8×	Mar 31, 2024
2023	$10.4B	$315M	32.9×	+18.2×	Mar 31, 2023
2022	$8.55B	$581M	14.7×	—	Mar 31, 2022
2021	$9.35B	-$206M	—	—	Mar 31, 2021
2020	$4.2B	-$1.99B	—	—	Mar 31, 2020
2019	$5.38B	-$3.7B	—	—	Mar 31, 2019
2018	$8.62B	-$894M	—	—	Mar 31, 2018
2017	$9.12B	$625M	14.6×	+3.9×	Mar 31, 2017
2016	$6.73B	$626M	10.7×	-5.9×	Mar 31, 2016
2015	$7.45B	$447M	16.7×	+7.6×	Mar 31, 2015
2014	$5.53B	$607M	9.1×	+2.2×	Mar 31, 2014
2013	$4.32B	$626M	6.9×	-6.6×	Mar 31, 2013
2012	$4.95B	$367M	13.5×	-1.2×	Mar 31, 2012
2011	$5.68B	$387M	14.7×	+4.4×	Mar 31, 2011
2010	$6.37B	$622M	10.2×	+7.5×	Mar 31, 2010
2009	$2.34B	$855M	2.7×	-8.1×	Mar 31, 2009
2008	$7.78B	$715M	10.9×	—	Mar 31, 2008
2007	$6.45B	-$293M	—	—	Mar 31, 2007
2006	$5.95B	$298M	19.9×	+4.4×	Mar 31, 2006
2005	$6.77B	$435M	15.6×	-1429.3×	Mar 31, 2005
2004	$9.01B	$6.24M	1444.9×	+1433.6×	Mar 31, 2004
2003	$4.52B	$399M	11.3×	-6.1×	Mar 31, 2003
2002	$9.21B	$529M	17.4×	—	Mar 31, 2002


Intuit (INTU)	13.9×
EPAM Systems (EPAM)	13.4×
Roper Technologies (ROP)	13.2×
Trade Desk (TTD)	12.9×
First Solar (FSLR)	12.7×
Zebra Technologies (ZBRA)	12.2×
NetApp (NTAP)	11.5×
Duolingo (DUOL)	11.1×
Block (XYZ)	11.0×
Leidos Holdings (LDOS)	10.8×
Workday (WDAY)	10.5×
Salesforce (CRM)	10.5×
Adobe (ADBE)	9.8×
Accenture (ACN)	9.6×
Strategy (MSTR)	9.2×
Fidelity National Information Services (FIS)	8.7×
DocuSign (DOCU)	8.0×
Gen Digital (GEN)	7.5×
Fiserv (FISV)	7.2×
Science Applications International (SAIC)	7.0×
Hewlett Packard Enterprise (HPE)	6.8×
GoDaddy (GDDY)	6.7×
HP (HPQ)	5.1×
Lyft (LYFT)	4.5×
Amkor Technology (AMKR)	0.0×

P/FCF Ratio for Flex (FLEX) 2002-2026

P/FCF Ratio daily chart for Flex (FLEX)

Historical P/FCF Ratio for Flex (FLEX) from 2002 to 2026

About P/FCF Ratio at Flex (FLEX)

Flex P/FCF Ratio by Year

Flex P/FCF Ratio 2026: 23.3×

Flex P/FCF Ratio 2025: 12.1×

Flex P/FCF Ratio 2024: 15.0×

Flex P/FCF Ratio 2023: 32.9×

Flex P/FCF Ratio 2022: 14.7×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Flex (FLEX) Key Financials