Question 1

What is MKS's P/FCF ratio?

Accepted Answer

MKS (MKSI) P/FCF ratio is 61.1× 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 MKS?

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 MKS specifically, the relevant sector benchmark is the current sector median of 21.8×.

Question 5

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

Accepted Answer

MKS's P/FCF ratio of 61.1× is above its own 5-year average of 20.5× and above the sector median of 21.8×. That places the current reading at the 98th 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 MKS's historical P/FCF ratio range?

Accepted Answer

In the available daily series, MKS (MKSI) P/FCF ratio has ranged from a low of 6.4× in 2011 to a high of 362.3× in 2002. The 5-year average is 20.5× and the 5-year median is 18.0×.

Question 7

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

Accepted Answer

MKS (MKSI) P/FCF ratio at the end of 2025 was 21.7×. 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 MKS'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	$10.8B	$496M	21.7×	+3.0×	Dec 31, 2025
2024	$7.04B	$377M	18.7×	-11.0×	Dec 31, 2024
2023	$6.88B	$232M	29.7×	+14.2×	Dec 31, 2023
2022	$5.64B	$365M	15.5×	-2.0×	Dec 31, 2022
2021	$9.67B	$553M	17.5×	-1.9×	Dec 31, 2021
2020	$8.3B	$428M	19.4×	-14.1×	Dec 31, 2020
2019	$6.05B	$181M	33.5×	+23.6×	Dec 31, 2019
2018	$3.49B	$351M	9.9×	-5.9×	Dec 31, 2018
2017	$5.13B	$324M	15.8×	-3.6×	Dec 31, 2017
2016	$3.18B	$163M	19.5×	+4.3×	Dec 31, 2016
2015	$1.92B	$126M	15.2×	-6.8×	Dec 31, 2015
2014	$1.95B	$88.7M	22.0×	-3.0×	Dec 31, 2014
2013	$1.59B	$63.7M	25.0×	+13.7×	Dec 31, 2013
2012	$1.36B	$119M	11.4×	+1.0×	Dec 31, 2012
2011	$1.45B	$140M	10.3×	+2.0×	Dec 31, 2011
2010	$1.23B	$148M	8.3×	-260.8×	Dec 31, 2010
2009	$858M	$3.19M	269.1×	+259.5×	Dec 31, 2009
2008	$735M	$76.3M	9.6×	-0.7×	Dec 31, 2008
2007	$1.08B	$104M	10.4×	-8.2×	Dec 31, 2007
2006	$1.25B	$67.5M	18.5×	+0.6×	Dec 31, 2006
2005	$967M	$53.9M	18.0×	-2.7×	Dec 31, 2005
2004	$996M	$48.1M	20.7×	—	Dec 31, 2004
2003	$1.51B	-$6.53M	—	—	Dec 31, 2003
2002	$843M	$5.9M	142.8×	—	Dec 31, 2002


Zebra Technologies (ZBRA)	12.2×
Skyworks Solutions (SWKS)	11.9×
Cognizant (CTSH)	11.8×
NetApp (NTAP)	11.5×
Duolingo (DUOL)	11.1×
Block (XYZ)	11.0×
QUALCOMM (QCOM)	10.8×
Leidos Holdings (LDOS)	10.8×
Workday (WDAY)	10.5×
Salesforce (CRM)	10.5×
Qorvo (QRVO)	10.4×
Adobe (ADBE)	9.8×
Accenture (ACN)	9.6×
Strategy (MSTR)	9.2×
Gartner (IT)	8.8×
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×
IBM (IBM)	0.0×

P/FCF Ratio for MKS (MKSI) 2002-2026

P/FCF Ratio daily chart for MKS (MKSI)

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

About P/FCF Ratio at MKS (MKSI)

MKS P/FCF Ratio by Year

MKS P/FCF Ratio 2025: 21.7×

MKS P/FCF Ratio 2024: 18.7×

MKS P/FCF Ratio 2023: 29.7×

MKS P/FCF Ratio 2022: 15.5×

MKS P/FCF Ratio 2021: 17.5×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

MKS (MKSI) Key Financials