• IBM average price to free cash flow ratio for 2023 was 10.96, a 12.95% increase from 2022.
• IBM average price to free cash flow ratio for 2022 was 12.59, a 68.99% decline from 2021.
• IBM average price to free cash flow ratio for 2021 was 7.45, a 20.75% increase from 2020.

Price to free cash flow ratio can be defined as