EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Ninety One's Enterprise Value is €-13,940.1 Mil.
Ninety One's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was €190.8 Mil. Therefore, Ninety One's EV-to-FCF for today is -73.05.
The historical rank and industry rank for Ninety One's EV-to-FCF or its related term are showing as below:
FRA:L91'
s EV-to-FCF Range Over the Past 10 Years
Min: -121.02 Med: -38.76 Max: -6.2
Current: -72.95
During the past 10 years, the highest EV-to-FCF of Ninety One was -6.20. The lowest was -121.02. And the median was -38.76.
FRA:L91's EV-to-FCF is ranked better than 99.79% of 936
companies
in the Asset Management industry
Industry Median: 14.505
vs FRA:L91: -72.95
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Ninety One's share price for today is €2.30.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Ninety One's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was €0.197.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Ninety One EV-to-FCF Related Terms
Ninety One EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Ninety One's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Asset Management subindustry, Ninety One's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ninety One EV-to-FCF vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Ninety One's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Ninety One's EV-to-FCF falls into.
Ninety One's current Enterprise Value is €-13,940.1 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Ninety One's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was €190.8 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Ninety One (FRA:L91) has a EV-to-FCF of -73.05 as of Jul. 04, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Ninety One and its competitors. According to the industry distribution chart, Ninety One ranks #2 out of 936 companies in the Asset Management industry, placing it in the top 0.2%.
Is Ninety One's EV-to-FCF too high?
Ninety One's current EV-to-FCF is -73.05. Based on the distribution chart, Ninety One ranks #2 out of 936 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Ninety One has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Ninety One's EV-to-FCF compare to BLK and BX?
According to the Asset Management industry distribution chart, Ninety One ranks #2 out of 936 companies for EV-to-FCF. This places Ninety One in the top 0% of its industry — outperforming the majority of peers. The industry median EV-to-FCF is 14.51. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Asset Management company?
The median EV-to-FCF among Asset Management companies is 14.51, based on 936 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Ninety One and its competitors. For the Asset Management industry, the median EV-to-FCF is 14.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ninety One's current EV-to-FCF is -73.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ninety One stock overvalued right now?
Ninety One (FRA:L91) has a current EV-to-FCF of -73.05. The stock's GF Value™ is €2.05, compared to a current price of €2.30 — trading 12.2% above its estimated fair value. The current EV-to-FCF is -73.05. Ninety One's overall GF Score™ is 74/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Ninety One (FRA:L91), the current EV-to-FCF is -73.05 as of Jul. 04, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Ninety One (FRA:L91) Overvalued in 2026?
Based on GuruFocus' analysis, Ninety One stock appears to be overvalued.
The current stock price of €2.30 is trading 12.2% above its estimated GF Value™ of €2.05.
Key valuation signals for FRA:L91:
EV-to-FCF: -73.05
GF Value™: €2.05 vs. price of €2.30 (12.2% above fair value)
No single metric tells the full story. See the FRA:L91 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ninety One Ltd is an asset manager. The company provides a range of differentiated strategies managed by its specialist investment teams, providing access to a diverse range of asset classes and regions. It serves its client base via five regional teams namely Africa, the United Kingdom, Asia Pacific, the Americas and Europe and across two distribution channels Institutional and Advisor. Institutional clients include private and public sector pension funds, sovereign wealth funds, insurers, corporates, foundations and central banks, while Advisor clients include large retail groups, wealth managers, private banks and intermediaries serving individual investors.
74GF Score
Get the complete analysis for FRA:L91
EV-to-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:L91 has been successfully added to your 
