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u/bhosdka
7 hours ago
Discussion
The most important numbers for angel investors and entrepreneurs is valuation in multiple of revenue. I think its a good heurestic that can be applied to public companies, I have compiled some data
A lot of people discuss valuations without understanding the full picture of stock markets work. So I'm trying to share a table I made in which you can interpret the stock price yourself. Please understand that only companies that do similar work can be realistically compared.
I use capitalisation per dollar revenue as the main heurestic investors use. This is what an investor would look at, what multiplier of revenue should we value the company at. Understanding this number requires knowledge of the field itself and knowledge of how the future will play out in this field.
P/E ratio is the profits to earning ratio. This is the same as above but instead of revenue, we are seeing profit. This is a common number quoted for public companies.
A fun way investors like to taunt entrepreneurs about valuation is, how many years will it take to make my investment back. These two are those numbers. For every dollar you invest this many years it will take for you to get your money back.
PE ratio is years to get your dollar back if you take a cut from profits. The number I gave is years to get your dollar back if you take your cut from revenue.
Profit margin is pretty common and easy to understand. I have included it because it reveals the state of the larger industries these companies operate in. Some industries are just low profit margin. The market prices in the fact that many industries are hard work for low profits.
The final thing I mention, which is the most important. The EXCHANGE. This is the country from which the capital is being drawn from. The amount of liquid capital available is highly dependent on the host reserve banks and market forces. This is why american companies are valued so much higher even when they do similar work.
I have compiled this data with claude Opus 5. It does still make mistakes but mostly the data seems ok. The notes are all added by claude, I didn't prompt or ask. I just asked it to move all its notes into the table itself so the reader can judge themselves.
Please understand that this is a heurestic-
A heuristic is a practical, trial-and-error method, a mental shortcut, or a rule of thumb used to solve a problem or make a decision quickly.
| Company (Exchange) | Cap/$1 rev | P/E | Margin | Notes |
|---|---|---|---|---|
| \*\*SpaceX (NASDAQ: SPCX)\*\* | \~94 ⚠ | — | −6.9% † | IPO 12 Jun 2026 @ $135; $138.74 on 11 Aug. Q2'26 rev $7.81bn (+92%), net \*\*loss\*\* $541m, adj. EBITDA $3.5bn (+191%). Ratio uses FY25 rev $18.67bn; on annualised Q2 it's \~59. No P/E — loss-making |
| Palantir (NASDAQ) | 68.2 | 139 | 42.8% | |
| Arm (NASDAQ) | 55.7 | 277 | 17.3% | |
| CrowdStrike (NASDAQ) | 44.4 | — | −3.9% | No P/E: TTM operating loss |
| Palo Alto (NASDAQ) | 29.5 | 323 | 9.7% | |
| Broadcom (NASDAQ) | 26.2 | 67 | 43.7% | |
| Arista (NYSE) | 23.7 | 62 | 43.1% | |
| Marvell (NASDAQ) | 21.9 | 72 | 16.2% | |
| Nvidia (NASDAQ) | 20.8 | 33 | 64.0% | |
| Adani Green (NSE/BSE) | \~18 ⚠ | n/v | 91.8% ‡ | Weakest row. FY26 rev extrapolated from H1 (₹6,088cr); mcap sources disagree (₹2.26L vs ₹2.44L cr). P/E omitted — FY26 PAT unverified; heavy D&A + interest means it won't track the margin |
| ASML (Euronext/NASDAQ) | 16.9 | 56 | 35.4% | |
| TSMC (TWSE/NYSE) | 15.9 | 28 | 56.0% | |
| Visa (NYSE) | 15.2 | 31 | 60.7% | |
| Shopify (NYSE/TSX) | 14.9 | 102 | 13.9% | |
| Eli Lilly (NYSE) | 13.6 | 41 | 43.9% | |
| Tesla (NASDAQ) | 12.6 | 282 ⚠ | 4.2% | Three sources give 271 / 282 / 365 within days. TTM EPS \~$1.18, so P/E swings wildly on small EPS moves — read as "very high," not a number |
| Microsoft (NASDAQ) | 11.3 | 28 | 46.8% | |
| Micron (NASDAQ) | 10.9 | 19 | 65.8% | Same memory-cycle caveat as SK hynix / Samsung |
| Adani Ports (NSE/BSE) | \~10 ⚠ | 30.0 | 34.0% † | FY26 rev estimated (company stated +25%, no absolute figure). Margin is Q2 FY26 net: rev ₹9,167cr, PAT ₹3,120cr |
| Apple (NASDAQ) | 9.5 | 35 | 33.2% | |
| Alphabet (NASDAQ) | 9.4 | 17 ⚠ | 33.1% | \*\*P/E does not reconcile.\*\* Implies \~$245bn TTM earnings on $446bn rev = 55% net margin, impossible against a 33% op margin. Likely a one-off gain or bad data field — don't use |
| SK hynix (KRX: 000660) | 7.6 | \~9 ⚠ | 76% † | Screener said 6.2; calc from TTM net (\~₩162tn) gives \~8.8. Q2'26: rev ₩79.3tn, op profit ₩60.5tn, net margin \*\*118%\*\* — above 100% as non-operating gains exceeded tax/interest. Not repeatable |
| Adani Power (NSE/BSE) | \~7.1 ⚠ | 31.4 | 30.0% † | Ratio annualises Q4 FY26 (rev ₹14,223cr) — no FY26 total found. PAT ₹4,271cr, +64% QoQ |
| Meta (NASDAQ) | 6.7 | 22 | 38.1% | |
| Bharti Airtel (NSE/BSE) | 5.7 | 44.8 | 14.3% ‡ | FY26 rev ₹2,10,973cr (+16.2%), net pre-exceptional ₹30,113cr. EBITDAaL margin 51.2% |
| SAP (XETRA/NYSE) | 5.5 | 26 | 26.8% | |
| Tencent (HKEX: 0700) | 4.7 | 16 | 32.3% | |
| Adani Enterprises (NSE/BSE) | 4.2 | 46.0 | 16.0% ‡ | Best-sourced Adani row: FY26 rev ₹1.03L cr, EBITDA ₹16,464cr |
| Novo Nordisk (CPH/NYSE) | 4.1 | 12 | 43.1% | |
| AstraZeneca (LSE/NASDAQ) | 4.0 | 24 | 22.8% | |
| Amazon (NASDAQ) | 3.8 | 22 | 12.1% ⚠ | Implied TTM net margin \~17% vs \~10% historically — same suspect earnings field as Alphabet. Operating margin shown is sound |
| TCS (NSE/BSE) | 3.3 | 18.0 | 25.0% ‡ | Fully verified: FY26 rev ₹2,67,021cr, PAT ₹52,820cr, net margin 19.8% |
| IBM (NYSE) | 3.3 | 21 | 17.9% | |
| Infosys (NSE/BSE/NYSE) | 2.7 | 16.4 | 20.3% ‡ | Verified: FY26 rev ₹1,78,650cr / $20.16bn, PAT ₹29,474cr |
| Samsung (KRX: 005930) | \~2.5 ⚠ | \~5 ⚠ | 52% † | Ratio annualises Q2'26 rev (₩171.5tn); TTM would be higher as rev rose 130% YoY. P/E is a run-rate estimate off Q2 net ₩71.6tn — no TTM sourced. Mcap \~$1.11tn (common only). DX/devices division posted an operating \*\*loss\*\* |
| Maruti Suzuki (NSE/BSE) | 2.5 | 30.0 | 12.3% ‡ | FY26 rev ₹1,74,382cr; net margin 8.4% |
| Home Depot (NYSE) | 2.1 | 25 | 12.5% | |
| Alibaba (NYSE/HKEX) | 2.0 | 19 | 5.8% | |
| Exxon Mobil (NYSE) | 1.8 | 21 | 10.7% | |
| Sony (TSE: 6758 / NYSE) | 1.6 | \~16 ⚠ | 16.8% † | P/E derived from FY26 net income guidance (¥1,210bn), not TTM actuals. Q1 FY26: sales ¥2,837.8bn, op income ¥476.5bn (+40%), net ¥342.2bn (+32%), aided by US tariff refunds. Mcap $122.9bn |
| Reliance (NSE/BSE) | 1.5 | 22.2 | 17.7% ‡ | FY26 rev ₹11,75,919cr, PAT ₹95,754cr (8.1% net). Deteriorating: Q1 FY27 PAT fell 22.4% to ₹20,946cr. Includes Jio |
| Costco (NASDAQ) | 1.4 | 47 | 3.8% | |
| Walmart (NYSE) | 1.2 | 40 | 4.2% | |
| TotalEnergies (Euronext/NYSE) | 1.0 | 11 | 13.7% | |
| Shell (LSE/NYSE) | 0.8 | 10 | 12.3% | |
| UnitedHealth (NYSE) | 0.8 | 26 | 4.8% | |
| Toyota (TSE: 7203 / NYSE) | 0.7 | 8 | 7.1% | Cheapest on both measures |
| Jio Platforms (unlisted) | — | — | — | All three omitted deliberately. DRHP filed 19 Jun 2026; SEBI queries 25 Jun; listing expected Aug–Oct 2026 on BSE+NSE. Bank valuations range $136bn (JPM) to $180bn (Jefferies) — a 32% spread, so any ratio would be fiction. Revenue consolidated inside Reliance |
† latest reported quarter · ‡ FY26 (to 31 Mar 2026) · unmarked margin = TTM operating margin · ⚠ soft figure, see note · n/v = not verified
Data as of 11–12 Aug 2026 close. Rows I'd trust least, ranked: Adani Green → Alphabet's P/E → Samsung's P/E → Adani Power/Ports → Tesla's P/E. Unmarked rows come from a single consistent screener pull or a company filing.