• American average price to free cash flow ratio for 2023 was 8.61, a 11.69% increase from 2022.
• American average price to free cash flow ratio for 2022 was 9.75, a 3.66% decline from 2021.
• American average price to free cash flow ratio for 2021 was 10.12, a 39.2% decline from 2020.

Price to free cash flow ratio can be defined as