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This valuation method assumes that the stock valuation will revert to its historical mean in terms of Price/Sales Ratio. The reason we use P/S Ratio instead of P/E Ratio or P/B Ratio is because Price/Sales Ratio is independent of profit margin, and can be applied to a broader range of situations.
Median P/S Value is calculated as trailing twelve months (TTM) revenue per share times 10-Year median P/S ratio. Dover Corp's revenue per share for the trailing twelve months (TTM) ended in Sep. 2016 was $42.694. Dover Corp's 10-Year median P/S ratio is 1.34. Therefore, the Median P/S Value for today is $57.21.
As of today, Dover Corp's share price is $78.14. Dover Corp's median P/S value is $57.21. Therefore, Dover Corp's Price to Median P/S Value Ratio for today is 1.36.
During the past 13 years, the highest Price to Median P/S Value Ratio of Dover Corp was 1.61. The lowest was 0.43. And the median was 1.09.
Dover Corp's Median P/S Value for today is calculated as
|Median P/S Value||=||Total Annual Sales / Shares Outstanding||*||10-Year Median P/S Ratio|
|=||Revenue per Share (TTM)||*||10-Year Median P/S Ratio|
10-Year Median P/S Ratio is 1.34.
Dover Corp's revenue per share for the trailing twelve months (TTM) ended in Sep. 2016 was 10.646 (Dec. 2015 ) + 10.388 (Mar. 2016 ) + 10.769 (Jun. 2016 ) + 10.891 (Sep. 2016 ) = $42.694.
It also assumes that over time the profit margin is constant. If a company increases its profit margin to a sustainable level, this value might under-estimate its value. If it has permanent declined profit margins, this may over-estimate the companys value.
Dover Corp's Price to Median P/S Value Ratio for today is calculated as
|Price to Median P/S Value||=||Share Price||/||Median P/S Value|
Dover Corp Annual Data
Dover Corp Quarterly Data
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