Price-to-Sales Ratios Across Big Tech: SpaceX at 103, Amazon at 4
As seen on the 24/7 Wall St. homepage on October 11, 2026.
Palantir trades at 25 times the S&P 500's price-to-sales ratio, the kind of gap that forces revenue growth to be flawless for years. Nvidia at 19 and Amazon at 4 show how unevenly the AI trade has been priced.
Price to Sales Ratio (TTM Sales) SpaceX: 103 Palantir: 87 CrowdStrike: 52 AMD: 24 Broadcom: 20 NVIDIA: 19 Applied Materials: 13 Tesla: 13 Microsoft: 12 Apple: 11 Google: 10 Micron: 9 Intel: 9 Meta: 8 Cisco: 7 Netflix: 6 Oracle: 6 Amazon: 4 S&P 500: 3.5
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The market has priced the technology sector wildly unevenly, with SpaceX topping Charlie Bilello's trailing-twelve-month price-to-sales list at 103.
Palantir's ratio of 87 is 25 times the S&P 500 average, which means the market is effectively pricing in years of near-flawless revenue growth just to justify today's valuation. Any stumble in execution or guidance gets magnified at that multiple.
Nvidia, often cited as the defining beneficiary of AI infrastructure spending, carries a far lower sales multiple than Palantir and CrowdStrike, reflecting very different assumptions about their revenue trajectories.
At the other end, Amazon and Meta look almost compressed by comparison, even though both are profitable at scale and investing heavily in AI. The price-to-sales ratio captures only one dimension of valuation and says nothing on its own about earnings power or margin structure.