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, 2026 | 9.95 | = | 331.33 | ÷ | 33.30 | 33.30 | = | 402,836 | ÷ | 12,097,000,000 | |
| 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: 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 | 9.95 | 0.87 | 9.29 | 8.05 | — | 2.03 |
| 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 | 6.95 | 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 | 2.55 | — | 2.04 |
| Jan 26, 2012 | 4.87 | 1.44 | — | 2.14 | — | 1.47 |
| Feb 11, 2011 | 6.85 | 1.85 | — | 5.75 | — | 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 | — | 1.54 | — | 1.99 |
| Mar 16, 2006 | 16.41 | 2.55 | — | 2.05 | — | 1.55 |
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 | 9.95 | — |
| 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: 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 | 9.95 | — |
| 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: 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).