FIP
Fielding-independent pitching — ERA-scaled estimate of pitcher skill using only K, BB, HBP, HR.
What FIP means
Strips out everything the defense controls (BABIP, sequencing, GB-vs-FB outcomes). When ERA and FIP diverge meaningfully, ERA usually moves toward FIP over time.
How FIP is calculated
FIP ≈ ((13·HR + 3·(BB+HBP) − 2·K) / IP) + cFIP
What counts as a good FIP
Lower is better — roughly 4.5 is poor, 4 average, 3.5 good, and 3 or better elite.
Also written
fip_value
Source
FanGraphs