Yes, it does. Every time there are variables in direct or inverse relationship, there is a constant of proportionality.
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Various options: y is directly proportional to k, with x as the constant of proportionality; y is directly proportional to x, with k as the constant of proportionality; x is inversely proportional to k, with y as the constant of proportionality; x is directly proportional to y, with 1/k as the constant of proportionality; k is directly proportional to y, with 1/x as the constant of proportionality; and k is inversely proportional to x, with y as the constant of proportionality.
It is the constant of proportionality.
The state of being in proportion.
It is the constant of proportionality.
The two variables must be identical.