That is one way to see it, but for an investor when you're researching a company and wants to have an idea of it's fair value or market cap, you cant always rely on the pps to give an accurate market cap because of fluctuation, momentum or manipulation so a more accurate way to evaluate the fair market cap is to do it with the net income and add a P/E ratio close to what you can find in similar company.
News 
Market Data 
Discover 
