Federated Hermes price to free cash flow FHI

Market value divided by free cash flow over the last twelve months, since 2011.

Today, Oct 23, 2026: 11.6×
10-year median: 11.5×
Against its 10-year history: 50th; percentile: 0 is its lowest day, 100 its highest
10-year range: 5.0× to 23.1×
Peer median: 11.7×

Federated Hermes' price to free cash flow is 11.6× as of Oct 23, 2026.

That is above its ten-year median of 11.5×, close to the middle of its last ten years.

Over that time it ranged from 5.0× in Mar 2020 to 23.1× in Jul 2019.

The median for 10 asset managers of a similar size is 11.7×.

Price to free cash flow over time

median 11.5×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	11.6×	11.4×	16.8×
2025	16.2×	8.8×	16.2×
2024	9.9×	8.4×	10.2×
2023	9.5×	8.8×	14.2×
2022	12.7×	12.4×	19.8×
2021	16.7×	7.5×	16.7×
2020	8.1×	5.0×	11.6×
2019	10.5×	10.5×	23.1×
2018	17.6×	12.8×	17.6×
2017	14.5×	10.7×	14.6×
2016	12.0×	10.6×	14.4×
2015	13.3×	13.2×	20.5×
2014	14.3×	11.2×	16.5×
2013	15.9×	7.7×	15.9×
2012	10.3×	9.8×	26.0×
2011	8.7×	8.5×	12.4×

Against its peers

Companies in Asset Management nearest Federated Hermes' size, closest first, today.

Company	Price to free cash flow
FHIFederated Hermes	11.6×
MCMoelis	9.8×
LAZLazard	6.2×
HLNEHamilton Lane INC	12.4×
HASIHA Sustainable Infrastructure Capital	n/m
CNSCohen & Steers	53.4×
AAMIAcadian Asset Management	n/m
ABAlliancebernstein	n/m
DLBDolby Laboratories	15.0×
APAMArtisan Partners Asset Management	10.5×
VCTRVictory Capital	11.7×
Peer median	11.7×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Federated Hermes

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.