Price to Sales (P/S)
since 2005
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, 2025 | 6.73 | = | 193.30 | ÷ | 28.71 | 28.71 | = | 350,018 | ÷ | 12,190,000,000 | |
| Jan 31, 2024 | 5.74 | = | 141.80 | ÷ | 24.72 | 24.72 | = | 307,394 | ÷ | 12,433,000,000 | |
| Feb 3, 2023 | 4.76 | = | 105.22 | ÷ | 22.08 | 22.08 | = | 282,836 | ÷ | 12,807,000,000 | |
| Feb 2, 2022 | 7.60 | = | 148.04 | ÷ | 19.49 | 19.49 | = | 257,637 | ÷ | 13,219,426,420 | |
| Feb 3, 2021 | 7.65 | = | 103.50 | ÷ | 13.54 | 13.54 | = | 182,527 | ÷ | 13,482,733,300 | |
| Feb 4, 2020 | 6.14 | = | 72.35 | ÷ | 11.78 | 11.78 | = | 161,857 | ÷ | 13,745,721,800 | |
| Feb 5, 2019 | 5.82 | = | 57.30 | ÷ | 9.84 | 9.84 | = | 136,819 | ÷ | 13,903,727,920 | |
| Feb 6, 2018 | 6.78 | = | 54.03 | ÷ | 7.97 | 7.97 | = | 110,855 | ÷ | 13,905,950,600 | |
| Feb 3, 2017 | 6.14 | = | 40.07 | ÷ | 6.53 | 6.53 | = | 90,272 | ÷ | 13,828,406,540 | |
| Feb 11, 2016 | 6.27 | = | 34.16 | ÷ | 5.45 | 5.45 | = | 74,989 | ÷ | 13,766,395,340 | |
| Feb 9, 2015 | 5.44 | = | 26.39 | ÷ | 4.85 | 4.85 | = | 66,001 | ÷ | 13,612,455,640 | |
| Feb 12, 2014 | 6.67 | = | 29.67 | ÷ | 4.45 | 4.45 | = | 59,825 | ÷ | 13,442,033,240 | |
| Jan 29, 2013 | 4.95 | = | 18.84 | ÷ | 3.81 | 3.81 | = | 50,175 | ÷ | 13,186,528,480 | |
| Jan 26, 2012 | 4.87 | = | 14.20 | ÷ | 2.91 | 2.91 | = | 37,905 | ÷ | 13,005,453,200 | |
| Feb 11, 2011 | 6.85 | = | 15.61 | ÷ | 2.28 | 2.28 | = | 29,321 | ÷ | 12,860,884,200 | |
| Feb 12, 2010 | 7.17 | = | 13.33 | ÷ | 1.86 | 1.86 | = | 23,651 | ÷ | 12,719,171,640 | |
| Feb 13, 2009 | 5.17 | = | 8.94 | ÷ | 1.73 | 1.73 | = | 21,796 | ÷ | 12,611,748,280 | |
| Feb 15, 2008 | 10.00 | = | 13.24 | ÷ | 1.32 | 1.32 | = | 16,594 | ÷ | 12,535,155,520 | |
| Mar 1, 2007 | 13.15 | = | 11.21 | ÷ | 0.85 | 0.85 | = | 10,605 | ÷ | 12,438,287,920 | |
| Mar 16, 2006 | 16.41 | = | 8.47 | ÷ | 0.52 | 0.52 | = | 6,139 | ÷ | 11,889,489,000 |
Based on: 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.
- Share Price Trends
- Over the analyzed period, the share price exhibited a general upward trend with notable fluctuations. Starting from a low base, the share price rose steadily from about $8.47, peaking around $15.61 by early 2011. Following this, a period of volatility occurred with declines and recoveries, reaching a high peak of $148.04 in early 2022. Subsequently, there was a dip to $105.22 in early 2023, before a significant recovery to $193.3 by early 2025. These movements suggest periods of growth interspersed with market corrections or adjustments.
- Sales Per Share Trends
- Sales per share demonstrated consistent growth throughout the time frame, increasing steadily from $0.52 to $28.71 over the course of nearly two decades. The increase is relatively smooth, showing consistent expansion in sales performance on a per-share basis without any visible declines or stagnation periods. This supports a narrative of sustained operational growth and improved revenue generation over time.
- Price-to-Sales (P/S) Ratio Analysis
- The P/S ratio showed a declining trend in the earlier years, starting from a high ratio of 16.41 and falling to a low of around 4.76 by early 2023, indicating that the share price became more moderately valued relative to sales over time. However, there were periods where the ratio increased, particularly between 2013 and 2016, suggesting phases of heightened market expectations or share price appreciation outpacing sales growth. The recent uptick in P/S ratio toward 6.73 by early 2025 indicates a moderate increase in market valuation relative to sales, potentially reflecting renewed investor optimism or improved profitability prospects.
- Overall Observations
- The data reflects a pattern of long-term growth in sales accompanied by a generally rising share price, albeit with periods of volatility. Market valuation, as expressed by the P/S ratio, has fluctuated but trended lower over time, implying increasing sales growth relative to share price. The recent recovery in both share price and P/S ratio suggests a positive market outlook. This combination of steady sales growth and evolving market valuation underscores a dynamic balance between operational performance and investor sentiment.
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, 2025 | 6.73 | 1.03 | 10.58 | 10.66 | 14.62 | 2.16 |
| Jan 31, 2024 | 5.74 | 1.52 | 8.98 | 7.32 | 19.02 | 1.94 |
| Feb 3, 2023 | 4.76 | 1.39 | 4.20 | 5.14 | 20.62 | 2.09 |
| Feb 2, 2022 | 7.60 | 1.95 | 5.49 | 5.78 | 32.79 | 4.08 |
| Feb 3, 2021 | 7.65 | 2.28 | 8.78 | 9.54 | 51.20 | 4.13 |
| Feb 4, 2020 | 6.14 | 1.84 | 8.45 | 7.47 | 19.81 | 3.81 |
| Feb 5, 2019 | 5.82 | 1.75 | 8.52 | 9.09 | 18.26 | 2.83 |
| Feb 6, 2018 | 6.78 | 2.34 | 13.80 | 10.56 | 7.64 | 2.81 |
| Feb 3, 2017 | 6.14 | 2.22 | 13.70 | 6.94 | 6.45 | 2.81 |
| Feb 11, 2016 | 6.27 | 1.95 | 17.32 | 5.96 | — | 3.74 |
| Feb 9, 2015 | 5.44 | 2.19 | 17.51 | 4.88 | — | 3.12 |
| Feb 12, 2014 | 6.67 | 2.23 | 20.27 | 5.53 | — | 2.70 |
| Jan 29, 2013 | 4.95 | 1.69 | 13.92 | 2.56 | — | 2.04 |
| Jan 26, 2012 | 4.87 | 1.44 | — | 2.14 | — | 1.47 |
| Feb 11, 2011 | 6.85 | 1.85 | — | 5.76 | — | 1.83 |
| Feb 12, 2010 | 7.17 | 1.28 | — | 2.09 | — | 1.59 |
| Feb 13, 2009 | 5.17 | 1.08 | — | 1.54 | — | 0.92 |
| Feb 15, 2008 | 10.00 | 1.96 | — | 1.60 | — | 1.69 |
| Mar 1, 2007 | 13.15 | 3.31 | — | 1.55 | — | 1.99 |
| Mar 16, 2006 | 16.41 | 2.55 | — | 2.07 | — | 1.55 |
Based on: 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, 2025 | 6.73 | 6.32 |
| Jan 31, 2024 | 5.74 | 5.25 |
| Feb 3, 2023 | 4.76 | 3.73 |
| Feb 2, 2022 | 7.60 | 5.62 |
| Feb 3, 2021 | 7.65 | 6.34 |
| Feb 4, 2020 | 6.14 | 5.14 |
| Feb 5, 2019 | 5.82 | 4.85 |
| Feb 6, 2018 | 6.78 | 5.91 |
| Feb 3, 2017 | 6.14 | 5.06 |
| Feb 11, 2016 | 6.27 | 5.13 |
| Feb 9, 2015 | 5.44 | 4.50 |
| Feb 12, 2014 | 6.67 | 4.67 |
| Jan 29, 2013 | 4.95 | 3.18 |
| Jan 26, 2012 | 4.87 | 2.41 |
| Feb 11, 2011 | 6.85 | 3.29 |
| Feb 12, 2010 | 7.17 | 2.84 |
| Feb 13, 2009 | 5.17 | 1.96 |
| Feb 15, 2008 | 10.00 | 3.43 |
| Mar 1, 2007 | 13.15 | 4.12 |
| Mar 16, 2006 | 16.41 | 3.41 |
Based on: 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, 2025 | 6.73 | 4.95 |
| Jan 31, 2024 | 5.74 | 4.00 |
| Feb 3, 2023 | 4.76 | 2.93 |
| Feb 2, 2022 | 7.60 | 3.98 |
| Feb 3, 2021 | 7.65 | 4.24 |
| Feb 4, 2020 | 6.14 | 3.56 |
| Feb 5, 2019 | 5.82 | 3.21 |
| Feb 6, 2018 | 6.78 | 3.59 |
| Feb 3, 2017 | 6.14 | 3.11 |
| Feb 11, 2016 | 6.27 | 3.03 |
| Feb 9, 2015 | 5.44 | 2.68 |
| Feb 12, 2014 | 6.67 | 2.72 |
| Jan 29, 2013 | 4.95 | 2.08 |
| Jan 26, 2012 | 4.87 | 1.65 |
| Feb 11, 2011 | 6.85 | 1.84 |
| Feb 12, 2010 | 7.17 | 1.54 |
| Feb 13, 2009 | 5.17 | 1.29 |
| Feb 15, 2008 | 10.00 | 2.05 |
| Mar 1, 2007 | 13.15 | 2.85 |
| Mar 16, 2006 | 16.41 | 2.32 |
Based on: 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).