Question 1

What is NRG Energy's P/FCF ratio?

Accepted Answer

NRG Energy (NRG) P/FCF ratio is 39.1× as of May 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 NRG Energy?

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 NRG Energy specifically, the relevant sector benchmark is the current sector median of 45.4×.

Question 5

Is NRG Energy's P/FCF ratio high or low?

Accepted Answer

NRG Energy's P/FCF ratio of 39.1× is above its own 5-year average of 21.2× and below the sector median of 45.4×. That places the current reading at the 84th 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 NRG Energy's historical P/FCF ratio range?

Accepted Answer

In the available daily series, NRG Energy (NRG) P/FCF ratio has ranged from a low of 3.0× in 2022 to a high of 372.4× in 2003. The 5-year average is 21.2× and the 5-year median is 11.6×.

Question 7

What was NRG Energy's P/FCF ratio in 2025?

Accepted Answer

NRG Energy (NRG) P/FCF ratio at the end of 2025 was 39.6×. 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 NRG Energy'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	$30.3B	$766M	39.6×	+29.4×	Dec 31, 2025
2024	$18.6B	$1.83B	10.2×	—	Dec 31, 2024
2023	$11.5B	-$819M	—	—	Dec 31, 2023
2022	$7.3B	-$7M	—	—	Dec 31, 2022
2021	$10.5B	$224M	46.9×	+41.2×	Dec 31, 2021
2020	$9.09B	$1.61B	5.7×	-2.7×	Dec 31, 2020
2019	$9.86B	$1.19B	8.3×	-3.0×	Dec 31, 2019
2018	$11B	$976M	11.3×	+4.5×	Dec 31, 2018
2017	$9.03B	$1.32B	6.8×	+2.0×	Dec 31, 2017
2016	$3.87B	$801M	4.8×	-137.3×	Dec 31, 2016
2015	$3.7B	$26M	142.1×	+126.7×	Dec 31, 2015
2014	$9.06B	$585M	15.5×	—	Dec 31, 2014
2013	$9.28B	-$717M	—	—	Dec 31, 2013
2012	$5.29B	-$2.25B	—	—	Dec 31, 2012
2011	$4.13B	-$1.16B	—	—	Dec 31, 2011
2010	$4.81B	$846M	5.7×	+1.5×	Dec 31, 2010
2009	$5.74B	$1.37B	4.2×	-6.1×	Dec 31, 2009
2008	$5.41B	$527M	10.3×	-1.4×	Dec 31, 2008
2007	$10.2B	$875M	11.7×	-22.5×	Dec 31, 2007
2006	$6.83B	$200M	34.2×	—	Dec 31, 2006
2005	$5.51B	-$30M	—	—	Dec 31, 2005
2004	$3.14B	$541M	5.8×	—	Dec 31, 2004
2003	$2.19B	-$474M	—	—	Dec 31, 2003
2002	$3.83B	-$1.01B	—	—	Dec 31, 2002


Eversource Energy (ES)	110.1×
Constellation Energy (CEG)	86.9×
NextEra Energy (NEE)	82.1×
American States Water (AWR)	77.8×
Middlesex Water (MSEX)	63.1×
Vistra (VST)	45.4×
UGI (UGI)	32.9×
FirstEnergy (FE)	16.3×
Duke Energy (DUK)	15.4×
Consolidated Edison (ED)	14.6×
American Electric Power Company (AEP)	9.3×

P/FCF Ratio for NRG Energy (NRG) 2004-2026

P/FCF Ratio daily chart for NRG Energy (NRG)

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

About P/FCF Ratio at NRG Energy (NRG)

NRG Energy P/FCF Ratio by Year

NRG Energy P/FCF Ratio 2025: 39.6×

NRG Energy P/FCF Ratio 2024: 10.2×

NRG Energy P/FCF Ratio 2021: 46.9×

NRG Energy P/FCF Ratio 2020: 5.7×

NRG Energy P/FCF Ratio 2019: 8.3×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

NRG Energy (NRG) Key Financials