Free Cash Flow Yield

What is FCF Yield?

Free cash flow per share divided by the stock price, showing what percentage yield an investor receives in FCF terms.

Think of it like this

Like knowing the 'interest rate' a stock pays in cash generation - a 5% FCF yield means the company generates 5 cents of free cash for every dollar of stock price.

Formula

FCF Yield = Free Cash Flow per Share ÷ Stock Price × 100
  • FCF per Share: Total FCF divided by shares outstanding
  • Stock Price: Current market price

Why it matters

  • Shows cash return potential
  • Higher yield = potentially better value
  • Can compare to dividend yield
  • FCF can fund dividends, buybacks, or growth

What's a good value?

> 8%
High Yield
Strong cash generator
5-8%
Good
Solid cash generation
2-5%
Moderate
Average for quality companies
< 2%
Low
Expensive or growth phase

Real-world example

Berkshire Hathaway often trades at 5%+ FCF yield, attracting value investors.

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