Measurement-based technology has been developed in the area of power transmission systems with phasor measurement units (PMU). Using high-resolution PMU data, the oscillatory behavior of power systems from general electromagnetic oscillations to sub-synchronous resonances can be observed. Studying oscillations in power systems is important to obtain information about the orbital stability of the system. Floquet multipliers calculation is based on a mathematical model to determine the orbital stability of a system with the existence of stable or unstable periodic solutions. In this paper, we have developed a model-free method to estimate Floquet multipliers using time series data. A comparative study between calculated and estimated Floquet multipliers has been performed to validate the proposed method. The results are provided for a sample three-bus power system network and the system integrated with a doubly fed induction generator.