Fisher's Sales Multiple
EliteCheapest price-to-sales vs sector peersPrice-to-sales only means something next to a company's peers. This ranks each name by how far below its own sector's median P/S it trades, cheapest-vs-sector first. Financials, insurers and REITs report revenue in ways that make raw P/S noisy. Sector-relative ranking cushions this because each name is judged only against its own kind. Not investment advice.
How it works
Ken Fisher's observation in Super Stocks was that earnings are easy to distort and revenue is hard to fake. A company can lose money for a year without becoming a different business. What it sells is the steadier number.
Price-to-sales only means something against peers, because a software company and a grocer will never trade on the same multiple. This screen ranks each name against the median of its own sector, so the question is not whether it is cheap but whether it is cheap for what it is.
When it misleads
A low multiple on sales says nothing about whether those sales make money. Revenue at a two percent margin and revenue at forty get identical treatment here.
Sectors with only a handful of listed names give an unstable median, so those companies sink to the bottom of the list rather than being scored against too few peers.
| # | Ticker | Sector | P/S | Sector median | % vs peers | Band |
|---|---|---|---|---|---|---|
| 101 | SW | Consumer Cyclical | 0.75 | 1.93 | +61.4% | Undervalued |
| 102 | HCA | Healthcare | 1.23 | 3.17 | +61.2% | Undervalued |
| 103 | CAG | Consumer Defensive | 0.64 | 1.65 | +61.2% | Undervalued |
| 104 | CPB | Consumer Defensive | 0.64 | 1.65 | +61.2% | Undervalued |
| 105 | NOK | Technology | 2.95 | 7.59 | +61.2% | Undervalued |
| 106 | TAP | Consumer Defensive | 0.64 | 1.65 | +61.1% | Undervalued |
| 107 | EIX | Utilities | 1.09 | 2.80 | +61.0% | Undervalued |
| 108 | IP | Consumer Cyclical | 0.76 | 1.93 | +60.8% | Undervalued |
| 109 | FN | Technology | 2.99 | 7.59 | +60.7% | Undervalued |
| 110 | PGR | Financial Services | 1.37 | 3.46 | +60.4% | Undervalued |
| 111 | GRAB | Technology | 3.04 | 7.59 | +60.0% | Undervalued |
| 112 | TGT | Consumer Defensive | 0.67 | 1.65 | +59.5% | Undervalued |
| 113 | PCG | Utilities | 1.14 | 2.80 | +59.5% | Undervalued |
| 114 | TEL | Technology | 3.08 | 7.59 | +59.4% | Undervalued |
| 115 | VTRS | Healthcare | 1.32 | 3.17 | +58.4% | Undervalued |
| 116 | IBM | Technology | 3.16 | 7.59 | +58.3% | Undervalued |
| 117 | LMT | Industrials | 1.60 | 3.84 | +58.3% | Undervalued |
| 118 | AMCR | Consumer Cyclical | 0.82 | 1.93 | +57.4% | Undervalued |
| 119 | AIG | Financial Services | 1.48 | 3.46 | +57.3% | Undervalued |
| 120 | BA | Industrials | 1.65 | 3.84 | +57.0% | Undervalued |
| 121 | GEHC | Healthcare | 1.37 | 3.17 | +56.8% | Undervalued |
| 122 | SWKS | Technology | 3.35 | 7.59 | +55.9% | Undervalued |
| 123 | STM | Technology | 3.36 | 7.59 | +55.7% | Undervalued |
| 124 | HON | Industrials | 1.71 | 3.84 | +55.5% | Undervalued |
| 125 | JBHT | Industrials | 1.74 | 3.84 | +54.7% | Undervalued |
| 126 | NOC | Industrials | 1.74 | 3.84 | +54.7% | Undervalued |
| 127 | EME | Industrials | 1.74 | 3.84 | +54.7% | Undervalued |
| 128 | PFG | Financial Services | 1.57 | 3.46 | +54.7% | Undervalued |
| 129 | GD | Industrials | 1.75 | 3.84 | +54.6% | Undervalued |
| 130 | GEN | Technology | 3.45 | 7.59 | +54.6% | Undervalued |
| 131 | MAS | Industrials | 1.75 | 3.84 | +54.5% | Undervalued |
| 132 | OTIS | Industrials | 1.76 | 3.84 | +54.3% | Undervalued |
| 133 | PPG | Basic Materials | 1.41 | 3.08 | +54.3% | Undervalued |
| 134 | AKAM | Technology | 3.48 | 7.59 | +54.2% | Undervalued |
| 135 | TRV | Financial Services | 1.59 | 3.46 | +54.0% | Undervalued |
| 136 | ENPH | Technology | 3.50 | 7.59 | +54.0% | Undervalued |
| 137 | TRMB | Technology | 3.52 | 7.59 | +53.6% | Undervalued |
| 138 | CSGP | Real Estate | 3.31 | 7.04 | +53.0% | Undervalued |
| 139 | CRH | Basic Materials | 1.48 | 3.08 | +52.1% | Undervalued |
| 140 | ARE | Real Estate | 3.43 | 7.04 | +51.3% | Undervalued |
| 141 | GFS | Technology | 3.71 | 7.59 | +51.1% | Undervalued |
| 142 | ACGL | Financial Services | 1.70 | 3.46 | +50.9% | Undervalued |
| 143 | INTU | Technology | 3.80 | 7.59 | +50.0% | Undervalued |
| 144 | WRB | Financial Services | 1.73 | 3.46 | +49.9% | Undervalued |
| 145 | ADBE | Technology | 3.81 | 7.59 | +49.8% | Undervalued |
| 146 | OMC | Communication Services | 0.98 | 1.94 | +49.5% | Undervalued |
| 147 | FTV | Technology | 3.86 | 7.59 | +49.1% | Undervalued |
| 148 | LULU | Consumer Cyclical | 0.99 | 1.93 | +49.0% | Undervalued |
| 149 | BXP | Real Estate | 3.60 | 7.04 | +48.8% | Undervalued |
| 150 | HAL | Energy | 1.27 | 2.47 | +48.8% | Undervalued |