Price to Sales (P/S)
since 2005
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- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
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Calculation
Alphabet Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenues1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 5, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 5, 2025 | = | ÷ | = | ÷ | |||||||
| Jan 31, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 3, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 2, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 3, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 4, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 5, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 3, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2014 | = | ÷ | = | ÷ | |||||||
| Jan 29, 2013 | = | ÷ | = | ÷ | |||||||
| Jan 26, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 16, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Alphabet Inc. Annual Report.
The price-to-sales (P/S) ratio, calculated from the provided share price and sales per share figures, exhibits considerable fluctuation over the observed period from 2006 to 2026. Initial values are relatively high, followed by a period of decline, stabilization, and then renewed increases in later years.
- Initial Period (2006-2009)
- The P/S ratio began at 16.41 in 2006 and generally decreased through 2009, reaching a low of 5.17. This decline coincided with a period of economic uncertainty, and suggests a decreasing investor willingness to pay a premium for each dollar of sales. The share price experienced volatility during this time, but the increase in sales per share partially offset this effect, contributing to the P/S ratio’s gradual reduction.
- Stabilization and Moderate Growth (2010-2015)
- From 2010 to 2015, the P/S ratio demonstrated a period of relative stability, fluctuating between approximately 5.44 and 7.17. While not exhibiting strong directional movement, the ratio remained within a constrained range. Both share price and sales per share increased during this period, contributing to this stabilization.
- Recent Trends (2016-2026)
- Beginning in 2016, the P/S ratio showed a renewed upward trend, peaking at 9.95 in 2026. This increase suggests growing investor confidence and a willingness to pay more for each dollar of sales. The substantial growth in sales per share, particularly from 2020 onwards, appears to be a primary driver of this increase, although share price appreciation also played a role. A notable dip to 4.76 occurred in 2022, potentially reflecting broader market conditions or company-specific concerns, before resuming an upward trajectory.
Overall, the P/S ratio demonstrates a cyclical pattern. The initial decline likely reflects economic conditions, while the subsequent stabilization and growth suggest increasing investor optimism and strong revenue growth. The recent peak indicates a potentially elevated valuation, which warrants further investigation into the sustainability of sales growth and profitability.
Comparison to Competitors
Alphabet Inc., P/S, long-term trends, comparison to competitors
| Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Trade Desk Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Feb 5, 2026 | ||||||
| Feb 5, 2025 | ||||||
| Jan 31, 2024 | ||||||
| Feb 3, 2023 | ||||||
| Feb 2, 2022 | ||||||
| Feb 3, 2021 | ||||||
| Feb 4, 2020 | ||||||
| Feb 5, 2019 | ||||||
| Feb 6, 2018 | ||||||
| Feb 3, 2017 | ||||||
| Feb 11, 2016 | ||||||
| Feb 9, 2015 | ||||||
| Feb 12, 2014 | ||||||
| Jan 29, 2013 | ||||||
| Jan 26, 2012 | ||||||
| Feb 11, 2011 | ||||||
| Feb 12, 2010 | ||||||
| Feb 13, 2009 | ||||||
| Feb 15, 2008 | ||||||
| Mar 1, 2007 | ||||||
| Mar 16, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Media & Entertainment)
Alphabet Inc., P/S, long-term trends, comparison to sector (media & entertainment)
| Alphabet Inc. | Media & Entertainment | |
|---|---|---|
| Feb 5, 2026 | ||
| Feb 5, 2025 | ||
| Jan 31, 2024 | ||
| Feb 3, 2023 | ||
| Feb 2, 2022 | ||
| Feb 3, 2021 | ||
| Feb 4, 2020 | ||
| Feb 5, 2019 | ||
| Feb 6, 2018 | ||
| Feb 3, 2017 | ||
| Feb 11, 2016 | ||
| Feb 9, 2015 | ||
| Feb 12, 2014 | ||
| Jan 29, 2013 | ||
| Jan 26, 2012 | ||
| Feb 11, 2011 | ||
| Feb 12, 2010 | ||
| Feb 13, 2009 | ||
| Feb 15, 2008 | ||
| Mar 1, 2007 | ||
| Mar 16, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Communication Services)
Alphabet Inc., P/S, long-term trends, comparison to industry (communication services)
| Alphabet Inc. | Communication Services | |
|---|---|---|
| Feb 5, 2026 | ||
| Feb 5, 2025 | ||
| Jan 31, 2024 | ||
| Feb 3, 2023 | ||
| Feb 2, 2022 | ||
| Feb 3, 2021 | ||
| Feb 4, 2020 | ||
| Feb 5, 2019 | ||
| Feb 6, 2018 | ||
| Feb 3, 2017 | ||
| Feb 11, 2016 | ||
| Feb 9, 2015 | ||
| Feb 12, 2014 | ||
| Jan 29, 2013 | ||
| Jan 26, 2012 | ||
| Feb 11, 2011 | ||
| Feb 12, 2010 | ||
| Feb 13, 2009 | ||
| Feb 15, 2008 | ||
| Mar 1, 2007 | ||
| Mar 16, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).