# Price to Cash Flow Ratio Calculator

URL: https://speedycalculator.com/calculators/finance/price-to-cash-flow/
Last updated: 2026-10-25

> The price to cash flow ratio calculator works out operating cash flow per share and the P/CF ratio – a valuation multiple that is harder to manipulate than P/E because it uses cash instead of accounting earnings.

## Inputs

- Operating cash flow
- Shares outstanding
- Price per share

## Results

- Cash flow per share
- Price to cash flow ratio

## Formula

```
Cash flow per share = operating cash flow ÷ shares outstanding
P/CF = share price ÷ cash flow per share
```

## Explanation

Cash flow excludes non-cash items such as depreciation, so P/CF is useful for capital-intensive companies whose earnings are depressed by large depreciation charges. A P/CF under 10 is often considered good value.

### How to use the Price to Cash Flow Ratio Calculator

- **Operating cash flow**
- **Shares outstanding**
- **Price per share**

Results update as you type, and every field accepts the units shown in its menu.

### How it works

Enter operating cash flow, shares outstanding and the share price.

### Tips

- Take figures from the same financial statements and the same fiscal year.
- Compare ratios with companies in the same industry, not across industries.
- Use several valuation measures together; no single ratio tells the whole story.
- Market prices change every second – refresh the share price before you rely on a result.

### Common mistakes to avoid

- Mixing per-share figures with company totals.
- Using trailing earnings for one company and forward earnings for another.
- Forgetting dilution from options and convertible securities.

### Inputs explained

FieldWhat to enterOperating cash flowAmount in your currencyShares outstandingA numberPrice per shareAmount in your currency

### What each result means

- **Cash flow per share** = [Operating cash flow]÷[Shares outstanding]
- **Price to cash flow ratio** = [Price per share]÷[Cash flow per share]

### Example values

How the main result changes when **Operating cash flow** changes and everything else stays at the example values above:

Operating cash flowPrice to cash flow ratio225,000,00016.89337,500,00011.26450,000,0008.44562,500,0006.76675,000,0005.63900,000,0004.22

## Worked example

Inputs — Operating cash flow: $450,000,000; Shares outstanding: 100,000,000; Price per share: $38.

Results — Cash flow per share = $4.50; **Price to cash flow ratio = 8.44**.

## FAQ

**What is a good P/CF ratio?**
Below about 10 is often seen as attractive.

**Which cash flow should I use?**
Operating cash flow, or free cash flow for a stricter test.

**Why use P/CF instead of P/E?**
Cash flow is harder to manipulate with accounting choices.

**What formula does the Price to Cash Flow Ratio Calculator use?**
Cash flow per share = operating cash flow ÷ shares outstanding.


## Sources

- [Corporate Finance Institute – financial ratios](https://corporatefinanceinstitute.com/)