Profitability · Intermediate · Pro filter
FCF margin: what it means and how to read it
Free cash flow ÷ sales: real cash left from each ₹100 of sales after paying to maintain and grow the business.
What is FCF margin?
Free cash flow ÷ sales: real cash left from each ₹100 of sales after paying to maintain and grow the business.
A worked example
Sales of ₹1,000 Cr, cash from operations of ₹180 Cr and ₹80 Cr spent on plant leaves ₹100 Cr of free cash: a 10% margin.
Why does FCF margin matter?
Cash is harder to dress up than profit.
How do you read FCF margin?
Positive and steady is a good sign. Heavy investment years can push it below zero.
Higher is usually better.
What is a typical FCF margin in India today?
The median across the 4419 listed companies that report it, as of 12 Oct 2026. Half sit above each figure and half below.
By company size
Median
Large Cap · 71 companies8.0%
Mid Cap · 119 companies5.4%
Small Cap · 4229 companies-1.4%
By industry
Median, largest industries first
Pharmaceuticals · 202-0.4%
Computers - Software & Consulting · 589.1%
Refineries & Marketing · 84.7%
Power Generation · 29-4.9%
Heavy Electrical Equipment · 43-0.6%
Auto Components & Equipments · 1151.9%
Cement & Cement Products · 32-2.4%
Civil Construction · 125-4.0%
Aerospace & Defense · 32-1.2%
2/3 Wheelers · 10-2.2%
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