Charts / Clouded Judgement (Altimeter)
EV / NTM FCF Multiples

This line chart tracks the median Enterprise Value to Next Twelve Months Free Cash Flow (EV / NTM FCF) multiples from 2015 to 2026 for FCF-positive companies with multiples under 100x. The median valuation multiple drops significantly from a long-term average of 40.1x down to 16.7x.
| Label | Value shown on the chart |
|---|---|
| LT Average | 40.1x |
| FCF Positive & <100x Multiple Median (Latest) | 16.7x |
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