Price to Sales (P/S)
since 2005
Calculation
Twenty-First Century Fox 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 13, 2018 | 2.76 | = | 45.32 | ÷ | 16.41 | 16.41 | = | 30,400 | ÷ | 1,852,574,153 | |
| Aug 14, 2017 | 1.83 | = | 28.21 | ÷ | 15.40 | 15.40 | = | 28,500 | ÷ | 1,851,057,916 | |
| Aug 11, 2016 | 1.78 | = | 26.16 | ÷ | 14.67 | 14.67 | = | 27,326 | ÷ | 1,862,528,151 | |
| Aug 13, 2015 | 2.10 | = | 30.12 | ÷ | 14.35 | 14.35 | = | 28,987 | ÷ | 2,019,460,912 | |
| Aug 14, 2014 | 2.46 | = | 35.76 | ÷ | 14.55 | 14.55 | = | 31,867 | ÷ | 2,190,056,341 | |
| Aug 19, 2013 | 2.62 | = | 31.44 | ÷ | 11.98 | 11.98 | = | 27,675 | ÷ | 2,309,530,372 | |
| Aug 14, 2012 | 1.64 | = | 23.30 | ÷ | 14.24 | 14.24 | = | 33,706 | ÷ | 2,367,337,220 | |
| Aug 15, 2011 | 1.33 | = | 16.91 | ÷ | 12.72 | 12.72 | = | 33,405 | ÷ | 2,626,892,496 | |
| Aug 6, 2010 | 1.13 | = | 14.10 | ÷ | 12.51 | 12.51 | = | 32,778 | ÷ | 2,621,188,038 | |
| Aug 12, 2009 | 0.97 | = | 11.26 | ÷ | 11.64 | 11.64 | = | 30,423 | ÷ | 2,614,312,978 | |
| Aug 13, 2008 | 1.08 | = | 13.67 | ÷ | 12.65 | 12.65 | = | 32,996 | ÷ | 2,609,043,246 | |
| Aug 23, 2007 | 2.23 | = | 20.40 | ÷ | 9.16 | 9.16 | = | 28,655 | ÷ | 3,128,392,204 | |
| Aug 23, 2006 | 2.31 | = | 18.53 | ÷ | 8.02 | 8.02 | = | 25,327 | ÷ | 3,157,684,640 | |
| Sep 1, 2005 | 2.21 | = | 16.16 | ÷ | 7.30 | 7.30 | = | 23,859 | ÷ | 3,266,235,922 |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Twenty-First Century Fox Inc. Annual Report.
The analysis of the price-to-sales (P/S) ratio between 2005 and 2018 reveals a period of significant volatility characterized by initial stability, a sharp contraction, and a subsequent recovery to record highs.
- Share Price Trends
- The share price exhibited a cyclical pattern, starting at 16.16 US$ in 2005 and reaching a peak of 45.32 US$ by 2018. A notable trough occurred in 2009, where the price fell to 11.26 US$, representing the lowest valuation point in the observed period before entering a long-term recovery phase.
- Sales per Share Performance
- Revenue efficiency, as measured by sales per share, demonstrated a consistent long-term upward trajectory. Increasing from 7.30 US$ in 2005 to 16.41 US$ by 2018, the growth indicates a steady expansion in the company's ability to generate revenue relative to its share count, despite a brief contraction in 2013.
- P/S Ratio Dynamics and Market Valuation
- The P/S ratio fluctuated significantly, reflecting shifts in market sentiment and valuation premiums. Between 2005 and 2007, the ratio remained stable, ranging from 2.21 to 2.31. A severe compression occurred in 2008 and 2009, with the ratio dropping to 1.08 and 0.97 respectively, signaling a period where the market valued the company at or below a 1:1 ratio with its sales.
- Recovery and Valuation Peaks
- A sustained recovery began in 2010, with the P/S ratio climbing steadily to a peak of 2.62 by 2013. Following a moderate correction between 2014 and 2016, where the ratio dipped to 1.78, the valuation surged again to reach its period high of 2.76 in 2018. This final increase suggests an intensifying market premium placed on each dollar of sales toward the end of the analyzed timeframe.
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Comparison to Competitors
Twenty-First Century Fox Inc., P/S, long-term trends, comparison to competitors
| Twenty-First Century Fox Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Aug 13, 2018 | 2.76 | 5.82 | 1.75 | 8.52 | 9.09 | 2.83 |
| Aug 14, 2017 | 1.83 | 6.78 | 2.34 | 13.80 | 10.56 | 2.81 |
| Aug 11, 2016 | 1.78 | 6.14 | 2.22 | 13.70 | 6.95 | 2.81 |
| Aug 13, 2015 | 2.10 | 6.27 | 1.95 | 17.32 | 5.96 | 3.74 |
| Aug 14, 2014 | 2.46 | 5.44 | 2.19 | 17.51 | 4.88 | 3.12 |
| Aug 19, 2013 | 2.62 | 6.67 | 2.23 | 20.27 | 5.53 | 2.70 |
| Aug 14, 2012 | 1.64 | 4.95 | 1.69 | 13.92 | 2.55 | 2.04 |
| Aug 15, 2011 | 1.33 | 4.87 | 1.44 | — | 2.14 | 1.47 |
| Aug 6, 2010 | 1.13 | 6.85 | 1.85 | — | 5.75 | 1.83 |
| Aug 12, 2009 | 0.97 | 7.17 | 1.28 | — | 2.09 | 1.59 |
| Aug 13, 2008 | 1.08 | 5.17 | 1.08 | — | 1.54 | 0.92 |
| Aug 23, 2007 | 2.23 | 10.00 | 1.96 | — | 1.60 | 1.69 |
| Aug 23, 2006 | 2.31 | 13.15 | 3.31 | — | 1.54 | 1.99 |
| Sep 1, 2005 | 2.21 | 16.41 | 2.55 | — | 2.05 | 1.55 |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
Comparison to Sector (Media & Entertainment)
Twenty-First Century Fox Inc., P/S, long-term trends, comparison to sector (media & entertainment)
| Twenty-First Century Fox Inc. | Media & Entertainment | |
|---|---|---|
| Aug 13, 2018 | 2.76 | 4.83 |
| Aug 14, 2017 | 1.83 | 5.91 |
| Aug 11, 2016 | 1.78 | 5.06 |
| Aug 13, 2015 | 2.10 | 5.13 |
| Aug 14, 2014 | 2.46 | 4.50 |
| Aug 19, 2013 | 2.62 | 4.67 |
| Aug 14, 2012 | 1.64 | 3.18 |
| Aug 15, 2011 | 1.33 | 2.41 |
| Aug 6, 2010 | 1.13 | 3.29 |
| Aug 12, 2009 | 0.97 | 2.84 |
| Aug 13, 2008 | 1.08 | 1.96 |
| Aug 23, 2007 | 2.23 | 3.43 |
| Aug 23, 2006 | 2.31 | 4.12 |
| Sep 1, 2005 | 2.21 | 3.41 |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
Comparison to Industry (Communication Services)
Twenty-First Century Fox Inc., P/S, long-term trends, comparison to industry (communication services)
| Twenty-First Century Fox Inc. | Communication Services | |
|---|---|---|
| Aug 13, 2018 | 2.76 | 3.20 |
| Aug 14, 2017 | 1.83 | 3.59 |
| Aug 11, 2016 | 1.78 | 3.11 |
| Aug 13, 2015 | 2.10 | 3.03 |
| Aug 14, 2014 | 2.46 | 2.68 |
| Aug 19, 2013 | 2.62 | 2.72 |
| Aug 14, 2012 | 1.64 | 2.08 |
| Aug 15, 2011 | 1.33 | 1.65 |
| Aug 6, 2010 | 1.13 | 1.84 |
| Aug 12, 2009 | 0.97 | 1.54 |
| Aug 13, 2008 | 1.08 | 1.29 |
| Aug 23, 2007 | 2.23 | 2.05 |
| Aug 23, 2006 | 2.31 | 2.85 |
| Sep 1, 2005 | 2.21 | 2.32 |
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).