Question 1

What is PPG Industries's P/FCF ratio?

Accepted Answer

PPG Industries (PPG) P/FCF ratio is 21.5× 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 PPG Industries?

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 PPG Industries specifically, the relevant sector benchmark is the current sector median of 25.9×.

Question 5

Is PPG Industries's P/FCF ratio high or low?

Accepted Answer

PPG Industries's P/FCF ratio of 21.5× is below its own 5-year average of 34.2× and below the sector median of 25.9×. That places the current reading at the 29th 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 PPG Industries's historical P/FCF ratio range?

Accepted Answer

In the available daily series, PPG Industries (PPG) P/FCF ratio has ranged from a low of 7.1× in 2008 to a high of 103.8× in 2022. The 5-year average is 34.2× and the 5-year median is 30.2×.

Question 7

What was PPG Industries's P/FCF ratio in 2025?

Accepted Answer

PPG Industries (PPG) P/FCF ratio at the end of 2025 was 19.8×. 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 PPG Industries'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	$23B	$1.16B	19.8×	-20.1×	Dec 31, 2025
2024	$27.9B	$699M	39.9×	+20.9×	Dec 31, 2024
2023	$35.3B	$1.86B	19.0×	-47.6×	Dec 31, 2023
2022	$29.6B	$445M	66.5×	+32.2×	Dec 31, 2022
2021	$40.9B	$1.19B	34.4×	+15.6×	Dec 31, 2021
2020	$34.2B	$1.83B	18.7×	-0.2×	Dec 31, 2020
2019	$31.6B	$1.67B	19.0×	-4.1×	Dec 31, 2019
2018	$24.4B	$1.06B	23.1×	-1.2×	Dec 31, 2018
2017	$29.4B	$1.21B	24.3×	-2.6×	Dec 31, 2017
2016	$24.8B	$923M	26.9×	+7.4×	Dec 31, 2016
2015	$26.6B	$1.36B	19.5×	-14.2×	Dec 31, 2015
2014	$31.7B	$941M	33.7×	+12.8×	Dec 31, 2014
2013	$26.7B	$1.28B	20.9×	+5.8×	Dec 31, 2013
2012	$20.9B	$1.38B	15.2×	+3.0×	Dec 31, 2012
2011	$12.8B	$1.05B	12.2×	-1.2×	Dec 31, 2011
2010	$13.5B	$1B	13.4×	+4.7×	Dec 31, 2010
2009	$9.71B	$1.11B	8.8×	+1.6×	Dec 31, 2009
2008	$6.96B	$975M	7.1×	-10.8×	Dec 31, 2008
2007	$11.5B	$643M	17.9×	+4.0×	Dec 31, 2007
2006	$10.6B	$758M	13.9×	+1.6×	Dec 31, 2006
2005	$9.6B	$777M	12.4×	-2.7×	Dec 31, 2005
2004	$11.7B	$774M	15.1×	+3.1×	Dec 31, 2004
2003	$10.8B	$906M	12.0×	-1.4×	Dec 31, 2003
2002	$8.48B	$634M	13.4×	—	Dec 31, 2002


Solstice Advanced Materials (SOLS)	93.8×
Nucor (NUE)	74.2×
Air Products and Chemicals (APD)	58.4×
International Flavors & Fragrances (IFF)	46.7×
Linde (LIN)	45.1×
Ecolab (ECL)	40.1×
Albemarle (ALB)	36.7×
International Paper (IP)	35.2×
Steel Dynamics (STLD)	34.7×
Martin Marietta Materials (MLM)	34.3×
Vulcan Materials (VMC)	32.2×
Corteva (CTVA)	27.5×
Sherwin-Williams (SHW)	27.1×
H.B. Fuller (FUL)	24.8×
CRH (CRH)	24.4×
Agnico Eagle Mines (AEM)	22.3×
Eastman Chemical (EMN)	17.5×
DuPont de Nemours (DD)	17.0×
Avient (AVNT)	16.2×
Freeport-McMoRan (FCX)	13.6×
CF Industries Holdings (CF)	12.4×
Builders FirstSource (BLDR)	10.5×
Newmont (NEM)	9.6×
LyondellBasell (LYB)	9.3×
Ashland (ASH)	7.6×

P/FCF Ratio for PPG Industries (PPG) 2002-2026

P/FCF Ratio daily chart for PPG Industries (PPG)

Historical P/FCF Ratio for PPG Industries (PPG) from 2002 to 2025

About P/FCF Ratio at PPG Industries (PPG)

PPG Industries P/FCF Ratio by Year

PPG Industries P/FCF Ratio 2025: 19.8×

PPG Industries P/FCF Ratio 2024: 39.9×

PPG Industries P/FCF Ratio 2023: 19.0×

PPG Industries P/FCF Ratio 2022: 66.5×

PPG Industries P/FCF Ratio 2021: 34.4×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

PPG Industries (PPG) Key Financials