The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. As of today, Azure Power Global's share price is $1.00.
Azure Power Global's Revenue per Share for the trailing twelve months (TTM) ended in Mar. 2024 was $4.00. Hence, Azure Power Global's PS Ratio for today is 0.25.
The historical rank and industry rank for Azure Power Global's PS Ratio or its related term are showing as below:
AZREF's PS Ratio is not ranked *
in the Utilities - Independent Power Producers industry.
Industry Median: 2.6 * Ranked among companies with meaningful PS Ratio only.
Azure Power Global (OTCPK:AZREF) PS Ratio Explanation
The PS Ratio is an excellent valuation indicator if you want to compare a stock with its historical valuation or with the stocks in the same industry. The PS Ratio works especially well when you want to compare the stock's current valuation with its historical valuation. The PS Ratio is a great valuation tool for evaluating cyclical businesses where the PE Ratio works poorly. It works the best when comparing the current valuation with the historical valuation because over time, a company's profit margin tends to revert to the mean.
When the PS Ratio is applied to the whole stock market, it can be used to evaluate the current market valuation and projected returns. In this case, the price is the total market cap of all stocks that are traded, and sales are the GDP of the country. This is how Warren Buffett estimates the broad market valuation and project future returns.
The PS Ratio does not tell you how cheap or expensive the stock is. It cannot be used to compare companies in different industries. It works better for companies within the same industry because these companies tend to have similar capital structures and profit margins. It works the best when comparing a company with itself in the past.
Azure Power Global PS Ratio Related Terms
Azure Power Global PS Ratio Historical Data
* Premium members only.
The historical data trend for Azure Power Global's PS Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Renewable subindustry, Azure Power Global's PS Ratio, along with its competitors' market caps and PS Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Azure Power Global PS Ratio vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Azure Power Global's PS Ratio distribution charts can be found below:
* The bar in red indicates where Azure Power Global's PS Ratio falls into.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. It is a ratio widely used to value stocks and it was first used by Ken Fisher.
Azure Power Global's Share Price of today is $1.00.
For company reported annually, GuruFocus uses latest annual data as the TTM data. Azure Power Global's Revenue per Share for the trailing twelve months (TTM) ended in Mar. 2024 was $4.00.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
Azure Power Global (AZREF) has a PS Ratio of 0.25 as of Jul. 03, 2026. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Azure Power Global and its competitors.
Is Azure Power Global's PS Ratio too high?
Azure Power Global's current PS Ratio is 0.25. The Utilities - Independent Power Producers industry median PS Ratio is 2.60. Azure Power Global's value of 0.25 is 90.4% below this industry median. Overall, Azure Power Global has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Azure Power Global's PS Ratio compare to SAFX and VGAS?
Azure Power Global's PS Ratio of 0.25 can be compared against companies in the Utilities - Independent Power Producers industry. The industry median PS Ratio is 2.60. Azure Power Global's value of 0.25 is 90.4% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PS Ratio for an Utilities - Independent Power Producers company?
The median PS Ratio among Utilities - Independent Power Producers companies is 2.60, based on 417 companies in the industry. Companies in the top quartile (top 25%) have a PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Azure Power Global's current PS Ratio of 0.25 is 90.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PS Ratio mean?
A high PS Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Azure Power Global and its competitors. For the Utilities - Independent Power Producers industry, the median PS Ratio is 2.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Azure Power Global's current PS Ratio is 0.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Azure Power Global stock overvalued right now?
Azure Power Global (AZREF) has a current PS Ratio of 0.25. The current PS Ratio is 0.25 and 90.4% below the Utilities - Independent Power Producers industry median of 2.60. Azure Power Global's overall GF Score™ is 12/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PS Ratio calculated?
PS Ratio is calculated from a company's financial statements. For Azure Power Global (AZREF), the current PS Ratio is 0.25 as of Jul. 03, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Azure Power Global Ltd is a utility-scale renewable energy project developer and operator. It is engaged in the development, construction, ownership, operation, maintenance, and management of renewable energy assets based on long-term contracts (Power Purchase Agreements or PPA) with Indian Government energy distribution companies, as well as other Indian non-governmental energy distribution companies and commercial customers.
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