• EMCOR average price to free cash flow ratio for 2023 was 14.56, a 22.01% increase from 2022.
• EMCOR average price to free cash flow ratio for 2022 was 18.67, a 15.39% decline from 2021.
• EMCOR average price to free cash flow ratio for 2021 was 16.18, a 120.14% increase from 2020.

Price to free cash flow ratio can be defined as