• Nasdaq average price to free cash flow ratio for 2023 was 17.55, a 9.3% increase from 2022.
• Nasdaq average price to free cash flow ratio for 2022 was 19.35, a 41.24% decline from 2021.
• Nasdaq average price to free cash flow ratio for 2021 was 32.93, a 80.54% decline from 2020.

Price to free cash flow ratio can be defined as