市銷率（P/S）計算器

分類： Uncategorized
- August 31, 2026
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Analyze company valuations relative to their revenue, compare against industry standards, and identify potentially undervalued or overvalued stocks

股票資料

$
每股現時市價

Revenue Information

$
Total revenue divided by outstanding shares

P/S Ratio Analysis Results

Price-to-Sales (P/S) Ratio
4.00
Multiple of sales investors are willing to pay for the stock
低估
合理價值
高估
Sales Per Share
$12.50
Revenue allocated to each outstanding share
PSG Ratio
0.40
P/S ratio divided by revenue growth rate
P/S-to-Margin Ratio
0.27
P/S ratio divided by profit margin
Sector Average P/S
3.20
Average P/S ratio for this industry sector
相對估值
+25.0%
相對行業平均的估值水平

P/S Ratio by Industry Sector

P/S to Margin Analysis

估值情境

合理價值分析

合理價 $40.00
Using Sector P/S 3.20
價格差異 +25.0%

Fair value estimate based on current sales per share and sector average P/S ratio.

Margin-Adjusted Value

Margin-Justified P/S 3.60
Margin-Adjusted Price $45.00
估值狀態 略為高估

Analysis based on P/S ratio justified by the company's profit margin relative to sector.

基於增長的價值

Growth-Adjusted P/S 3.75
基於增長的價格 $46.88
一年目標價 $55.00

Future valuation based on projected growth in revenue and current P/S ratio.

估值分析

現時估值

With a P/S ratio of 4.00, this stock is trading above the 科技 sector average of 3.20. This suggests the stock may be 略為高估 based on its sales.

Margin Analysis

The company's profit margin of 15% is above the sector average. This partially justifies the premium P/S ratio, as companies with higher margins typically command higher sales multiples.

Growth Assessment

The PSG ratio of 0.40 indicates good value relative to revenue growth. Companies with PSG ratios below 1.0 are often considered attractively valued in terms of their growth prospects.

未來展望

With projected revenue growth of 10% and a profit margin of 15%, the stock shows reasonable growth potential backed by solid profitability. Investors should monitor the company's ability to maintain growth and margin targets.

Understanding Price-to-Sales Ratio

The Price-to-Sales (P/S) ratio compares a company's market value to its revenue. It shows how much investors are willing to pay for each dollar of sales. This metric is particularly useful for evaluating companies that are not yet profitable, growth companies, or during periods when earnings are temporarily depressed.

Advantages of P/S Ratio

  • Less Volatile: Sales figures tend to be more stable than earnings
  • Universal Application: Can be used for companies with negative earnings
  • Less Susceptible to Manipulation: Revenue is harder to manipulate than earnings
  • Early Stage Assessment: Useful for evaluating startups and growth companies
  • Cyclical Industries: Provides perspective during industry downturns

Interpreting P/S Values

  • Low P/S (< 1): Potentially undervalued, especially with good margins
  • Average P/S (1-3): Typically considered reasonable valuation for established companies
  • High P/S (> 3): May indicate premium valuation, requires growth or high margins
  • Industry Context: P/S varies widely across sectors (tech vs. retail)
  • Margin Consideration: Higher margins justify higher P/S ratios

P/S Ratio Formulas

Standard P/S Ratio
P/S Ratio = Market Price Per Share ÷ Sales Per Share
PSG Ratio
PSG Ratio = P/S Ratio ÷ Annual Revenue Growth Rate
P/S-to-Margin Ratio
PSM Ratio = P/S Ratio ÷ Profit Margin
Sales Per Share
SPS = Total Revenue ÷ Outstanding Shares

Limitations of P/S Analysis

  • Ignores Profitability: Does not directly account for margins or cost structure
  • Debt Differences: Does not consider varying debt levels between companies
  • Revenue Recognition: Affected by different accounting practices for revenue recognition
  • Growth Stages: May overvalue high-growth companies with no clear path to profitability
  • Industry Variation: P/S ratios vary widely across sectors, making cross-industry comparisons difficult

本工具計算什麼

市銷率——市值相對年度收入。

公式
市銷率 = 市值 ÷ 年度收入
計算示例
市值 30 億港元、年收入 15 億港元，市銷率為 2 倍。
何時使用
適用於尚未錄得盈利、無法計算市盈率的公司。
常見錯誤
收入不等於利潤。一間長期無法把銷售轉化為現金的公司，市銷率低並非便宜，而是警號。