How are the values computed?

From the reported filings of all visible Fair Value Calculator stocks; the 25th, 50th and 75th percentile per sector and industry, as of September 6, 2026.

Valuation multiples › P/B ratio

P/B ratio by sector and industry

Price-to-book ratio: median and quartiles across 11 GICS sectors and 157 industries, from 28,920 valued stocks worldwide.

As of September 6, 2026 · updated daily · CSV JSON

What the numbers show

The lowest sector median is 0.69 (Real Estate, 1,447 values), the highest 2.15 (Information Technology, 2,934 values).

That is a factor of 3.1 between the two: the same ratio means different things in different sectors, so compare within the industry.

The middle sector (Consumer Discretionary) has a median of 1.37; half of its 2,987 stocks sit between 0.61 and 2.76.

P/B ratio by sector

Sector	P25	Median	P75	Values
Real Estate	0.32	0.69	1.27	1,447
Financials	0.64	1.09	1.77	2,884
Communication Services	0.51	1.21	2.56	894
Energy	0.73	1.34	2.33	857
Consumer Staples	0.59	1.36	2.61	1,413
Consumer Discretionary	0.61	1.37	2.76	2,987
Utilities	0.73	1.40	2.29	592
Materials	0.65	1.45	2.77	2,892
Industrials	0.68	1.61	3.18	4,519
Health Care	0.80	1.70	3.35	2,020
Information Technology	0.79	2.15	4.28	2,934

P/B ratio by industry (157)

Grouped by sector, sorted by median within each sector. Only industries with at least ten valued stocks.

Communication Services (7)

Industry	P25	Median	P75	Values
Broadcasting	0.40	0.82	1.55	42
Publishing	0.52	0.96	2.10	89
Electronic Gaming & Multimedia	0.38	1.00	2.80	111
Entertainment	0.40	1.07	2.32	171
Advertising Agencies	0.45	1.24	2.35	152
Telecom Services	0.69	1.38	2.92	200
Internet Content & Information	0.76	1.60	3.49	116

Consumer Discretionary (26)

Industry	P25	Median	P75	Values
Education & Training Services	0.33	0.76	2.48	114
Residential Construction	0.40	0.83	1.29	60
Textile Manufacturing	0.61	1.09	1.89	239
Textiles	0.62	1.11	1.91	24
Lodging	0.37	1.14	2.48	117
Furnishings, Fixtures & Appliances	0.53	1.15	2.45	256
Footwear & Accessories	0.57	1.22	2.57	76
Apparel Manufacturing	0.55	1.23	2.52	152
Department Stores	0.28	1.25	2.15	88
Home Improvement Retail	0.87	1.31	2.26	32
Specialty Retail	0.71	1.31	3.07	186
Auto & Truck Dealerships	0.66	1.40	2.71	78
Consumer Electronics	0.37	1.41	3.04	95
Restaurants	0.55	1.47	3.05	170
Resorts & Casinos	0.54	1.49	3.22	49
Recreational Vehicles	0.74	1.51	2.65	31
Apparel Retail	0.63	1.53	3.11	85
Leisure	0.82	1.53	2.95	147
Personal Services	0.72	1.53	3.32	32
Auto Manufacturers	0.65	1.57	3.00	94
Auto Parts	0.83	1.63	3.07	531
Internet Retail	0.50	1.64	3.99	82
Luxury Goods	0.75	1.80	3.58	117
Travel Services	1.07	2.15	3.05	73
Gambling	0.85	2.25	4.93	43
Discount Stores	2.62	4.68	9.99	19

Consumer Staples (13)

Industry	P25	Median	P75	Values
Agricultural Products	0.43	0.52	0.89	12
Food Products	0.49	0.70	1.56	10
Farm Products	0.27	0.79	1.59	248
Confectioners	0.47	0.81	1.95	57
Beverages - Wineries & Distilleries	0.58	1.18	2.16	85
Packaged Foods	0.72	1.48	2.58	515
Household & Personal Products	0.50	1.50	2.92	178
Pharmaceutical Retailers	0.68	1.50	2.93	42
Food Distribution	0.52	1.56	3.14	72
Grocery Stores	1.02	1.66	3.02	68
Beverages - Brewers	1.15	1.90	2.76	50
Tobacco	0.64	2.12	5.05	27
Beverages - Non-Alcoholic	0.75	2.14	4.99	75

Energy (8)

Industry	P25	Median	P75	Values
Oil & Gas Drilling	0.71	1.14	1.75	33
Oil & Gas Equipment & Services	0.56	1.16	2.34	164
Thermal Coal	0.72	1.16	2.02	88
Oil & Gas E&P	0.73	1.23	2.05	255
Oil & Gas Refining & Marketing	0.81	1.37	2.21	85
Oil & Gas Integrated	0.67	1.38	2.13	45
Oil & Gas Midstream	1.19	1.87	2.96	80
Uranium	1.28	1.93	3.59	25

Financials (17)

Industry	P25	Median	P75	Values
REIT - Mortgage	0.44	0.57	0.87	39
Mortgage Finance	0.21	0.70	1.42	63
Asset Management	0.54	0.88	1.78	615
Credit Services	0.53	1.01	1.98	268
Banks - Regional	0.76	1.08	1.41	998
Capital Markets	0.62	1.16	2.13	370
Insurance - Reinsurance	0.83	1.18	1.75	27
Specialized Finance	0.57	1.19	1.79	11
Insurance - Specialty	1.04	1.21	1.89	28
Insurance - Life	0.62	1.27	2.10	85
Shell Companies	0.57	1.29	2.09	49
Insurance - Property & Casualty	0.82	1.33	2.14	100
Banks - Diversified	0.69	1.39	1.94	46
Financial Conglomerates	0.84	1.46	2.47	46
Insurance - Diversified	0.89	1.48	2.00	76
Insurance Brokers	1.80	2.80	3.76	31
Financial Data & Stock Exchanges	2.58	3.92	5.39	44

Health Care (11)

Industry	P25	Median	P75	Values
Medical Distribution	0.57	0.84	1.42	67
Pharmaceuticals	0.78	1.14	2.01	23
Medical Care Facilities	0.80	1.48	2.99	223
Biotechnology	0.64	1.53	3.13	519
Medical Devices	0.60	1.67	3.33	289
Health Information Services	0.88	1.69	3.51	113
Drug Manufacturers - Specialty & Generic	0.90	1.79	3.24	460
Medical Instruments & Supplies	1.23	1.91	3.40	171
Diagnostics & Research	0.86	1.98	4.23	108
Healthcare Plans	1.79	2.85	4.65	14
Drug Manufacturers - General	1.39	4.05	6.72	60

Industrials (27)

Industry	P25	Median	P75	Values
Conglomerates	0.31	0.81	1.96	257
Infrastructure Operations	0.56	0.97	1.69	57
Rental & Leasing Services	0.43	1.01	2.41	76
Marine Shipping	0.61	1.04	1.63	203
Integrated Freight & Logistics	0.51	1.20	2.07	182
Engineering & Construction	0.47	1.21	2.74	689
Industrial Distribution	0.62	1.28	3.33	103
Building Products & Equipment	0.54	1.31	2.79	207
Business Equipment & Supplies	0.57	1.31	2.49	56
Waste Management	0.58	1.32	2.49	146
Trucking	0.77	1.39	2.53	37
Railroads	0.82	1.44	2.44	99
Staffing & Employment Services	0.93	1.45	2.80	74
Electrical Equipment	0.99	1.45	2.38	19
Construction & Engineering	1.06	1.55	2.52	12
Pollution & Treatment Controls	0.67	1.63	2.61	75
Metal Fabrication	0.70	1.66	3.07	209
Farm & Heavy Construction Machinery	0.92	1.71	2.70	130
Specialty Business Services	0.86	1.80	3.42	198
Tools & Accessories	1.02	1.82	3.03	104
Airports & Air Services	1.18	1.84	3.23	42
Consulting Services	0.77	1.97	3.13	68
Airlines	1.28	2.14	2.97	42
Specialty Industrial Machinery	1.16	2.24	4.26	667
Electrical Equipment & Parts	0.95	2.36	4.59	474
Industrial Machinery	1.43	2.67	3.49	22
Aerospace & Defense	1.63	3.72	6.03	196

Information Technology (13)

Industry	P25	Median	P75	Values
Solar	0.22	0.95	3.42	89
IT Services	0.57	1.25	1.84	25
Electronics & Computer Distribution	0.56	1.27	2.38	138
Security & Protection Services	0.83	1.49	2.47	94
Computer Hardware	0.70	1.73	3.19	192
Information Technology Services	0.62	1.93	3.46	411
Communication Equipment	0.83	2.09	4.53	256
Software - Application	0.87	2.18	4.39	567
Software - Infrastructure	0.83	2.34	4.48	291
Electronic Components	1.04	2.50	4.70	512
Scientific & Technical Instruments	1.01	2.67	4.74	141
Semiconductors	1.73	3.29	6.53	276
Semiconductor Equipment & Materials	1.53	3.64	7.73	143

Materials (17)

Industry	P25	Median	P75	Values
Other	0.19	0.54	1.49	47
Paper & Paper Products	0.40	0.71	1.17	90
Coking Coal	0.29	0.73	1.19	23
Lumber & Wood Production	0.26	0.74	1.48	62
Building Materials	0.30	0.92	1.65	205
Steel	0.51	1.06	2.00	291
Packaging & Containers	0.53	1.07	2.09	212
Containers & Packaging	0.55	1.33	1.65	18
Agricultural Inputs	0.73	1.42	2.28	155
Aluminum	0.83	1.55	2.37	74
Chemicals	0.66	1.58	2.90	257
Other Industrial Metals & Mining	0.73	1.63	3.20	444
Specialty Chemicals	0.86	1.78	3.24	555
Other Precious Metals & Mining	1.04	1.79	3.63	99
Copper	1.20	2.14	3.62	55
Gold	1.28	2.23	3.79	238
Silver	2.29	4.10	9.52	14

Real Estate (12)

Industry	P25	Median	P75	Values
Real Estate - Diversified	0.21	0.44	1.01	101
Real Estate - Development	0.22	0.53	1.10	420
REIT - Office	0.44	0.64	1.11	57
Real Estate Services	0.36	0.70	1.43	420
REIT - Diversified	0.43	0.74	1.11	125
REIT - Hotel & Motel	0.39	0.86	1.61	26
REIT - Industrial	0.59	0.91	1.26	53
REIT - Residential	0.38	0.93	2.19	39
REIT - Retail	0.62	1.00	1.54	88
Real Estate Development	0.89	1.14	4.98	12
REIT - Specialty	0.67	1.20	2.80	27
REIT - Healthcare Facilities	1.13	1.50	2.26	25

Utilities (6)

Industry	P25	Median	P75	Values
Utilities - Renewable	0.48	1.12	2.25	173
Utilities - Independent Power Producers	0.66	1.25	3.02	66
Utilities - Regulated Water	0.86	1.38	2.25	60
Utilities - Regulated Gas	0.95	1.46	2.13	87
Utilities - Diversified	1.02	1.52	2.41	51
Utilities - Regulated Electric	0.87	1.61	2.25	139

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Cite or reuse this table

Suggested citation: Fair Value Calculator (2026): Price-to-book ratio by sector and industry, as of September 6, 2026. https://www.fairvalue-calculator.com/valuation-multiples/pb-ratio

Free to use under CC BY 4.0 with attribution. Raw data: CSV · JSON · API and embedding

Not financial advice. Metrics from reported filings (latest fiscal year or trailing twelve months), percentiles over the visible Fair Value Calculator universe; negative multiples are excluded and outliers beyond the 90th percentile are never the basis of a statement.