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 October 21, 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 173 industries, from 27,628 valued stocks worldwide.

As of October 21, 2026 · updated daily · CSV JSON

What the numbers show

The lowest sector median is 0.73 (Real Estate, 1,630 values), the highest 2.29 (Information Technology, 3,127 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 (Utilities) has a median of 1.42; half of its 592 stocks sit between 0.84 and 2.21.

P/B ratio by sector

Sector	P25	Median	P75	Values
Real Estate	0.41	0.73	1.26	1,630
Financials	0.70	1.10	1.75	2,863
Communication Services	0.71	1.29	2.65	816
Consumer Discretionary	0.69	1.37	2.63	3,104
Materials	0.74	1.39	2.54	3,099
Utilities	0.84	1.42	2.21	592
Consumer Staples	0.76	1.44	2.65	1,490
Energy	0.80	1.44	2.47	862
Industrials	0.87	1.67	3.08	4,664
Health Care	1.00	1.89	3.28	2,021
Information Technology	1.20	2.29	4.39	3,127

P/B ratio by industry (173)

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	0.52	0.68	1.40	44
Publishing	0.56	0.99	1.69	75
Advertising Agencies	0.84	1.40	2.88	133
Entertainment	0.75	1.51	2.41	173
Electronic Gaming & Multimedia	0.83	1.55	2.79	124
Telecom Services	0.85	1.61	3.17	163
Internet Content & Information	0.77	1.67	3.08	98

Consumer Discretionary (28)

Industry	P25	Median	P75	Values
Automobiles & Auto Parts	0.32	0.36	0.52	13
Textile Industrial	0.43	0.51	1.69	12
Recreational Vehicles	0.51	0.97	1.68	31
Textile Manufacturing	0.60	0.98	1.82	321
Textiles	0.63	1.04	1.83	28
Residential Construction	0.69	1.05	1.50	58
Apparel Manufacturing	0.56	1.16	2.40	197
Resorts & Casinos	0.59	1.20	2.19	54
Department Stores	0.70	1.22	2.32	101
Lodging	0.58	1.24	2.16	136
Home Improvement Retail	0.95	1.29	2.77	27
Footwear & Accessories	0.67	1.32	2.45	87
Auto & Truck Dealerships	0.73	1.33	2.71	70
Leisure	0.89	1.34	2.74	143
Auto Manufacturers	0.70	1.35	3.02	89
Furnishings, Fixtures & Appliances	0.63	1.39	2.63	281
Auto Parts	0.78	1.45	2.60	621
Personal Services	0.63	1.51	2.77	24
Specialty Retail	0.91	1.63	3.09	165
Apparel Retail	0.73	1.66	3.59	87
Consumer Electronics	1.07	1.71	2.92	105
Luxury Goods	0.85	1.71	3.10	113
Education & Training Services	0.75	1.77	3.54	91
Restaurants	0.96	1.89	3.85	155
Gambling	0.98	1.93	3.35	22
Travel Services	1.14	1.98	3.25	67
Internet Retail	1.01	2.23	5.02	72
Discount Stores	3.17	4.27	10.90	20

Consumer Staples (14)

Industry	P25	Median	P75	Values
Agricultural Products	0.43	0.54	0.66	11
Food & Tobacco	0.07	0.55	1.73	13
Food Products	0.49	0.94	1.65	11
Confectioners	0.56	1.14	1.65	73
Beverages - Wineries & Distilleries	0.67	1.19	2.11	77
Farm Products	0.72	1.28	2.19	272
Food Distribution	0.54	1.38	3.00	76
Packaged Foods	0.78	1.42	2.44	555
Household & Personal Products	0.82	1.65	2.83	214
Pharmaceutical Retailers	1.06	1.69	2.67	45
Beverages - Brewers	1.33	1.87	2.95	42
Beverages - Non-Alcoholic	1.12	2.03	4.03	73
Tobacco	1.34	2.35	4.53	21
Grocery Stores	1.33	2.39	3.50	61

Energy (8)

Industry	P25	Median	P75	Values
Thermal Coal	0.77	1.19	1.99	77
Oil & Gas Drilling	0.89	1.31	1.95	30
Oil & Gas Refining & Marketing	0.85	1.31	2.41	99
Oil & Gas Equipment & Services	0.77	1.36	2.31	156
Oil & Gas E&P	0.91	1.49	2.69	231
Oil & Gas Integrated	1.29	1.91	2.39	42
Uranium	0.82	1.96	3.83	27
Oil & Gas Midstream	1.23	2.19	3.32	73

Financials (19)

Industry	P25	Median	P75	Values
REIT - Mortgage	0.35	0.47	0.71	36
Investment Banking & Investment Services	0.34	0.69	1.49	15
Mortgage Finance	0.56	0.81	1.61	47
Asset Management	0.57	0.88	1.65	583
Diversified Financial Services	0.56	0.97	1.72	15
Credit Services	0.57	1.00	1.86	284
Capital Markets	0.67	1.11	2.28	411
Banks - Regional	0.84	1.14	1.50	1,025
Insurance - Reinsurance	0.82	1.15	1.48	24
Insurance - Specialty	1.04	1.23	2.06	24
Financial Conglomerates	0.75	1.28	2.39	47
Specialized Finance	0.86	1.28	1.97	11
Shell Companies	0.61	1.29	2.24	35
Insurance - Property & Casualty	0.86	1.47	2.35	110
Insurance - Diversified	0.97	1.49	2.36	79
Insurance - Life	0.77	1.51	2.23	73
Banks - Diversified	1.21	1.60	1.95	44
Insurance Brokers	1.61	2.91	5.63	17
Financial Data & Stock Exchanges	2.54	3.93	7.36	35

Health Care (11)

Industry	P25	Median	P75	Values
Medical Distribution	0.75	0.91	1.59	61
Pharmaceuticals	0.60	1.03	1.81	45
Drug Manufacturers - Specialty & Generic	0.94	1.77	2.89	500
Medical Devices	0.99	1.90	3.25	290
Medical Instruments & Supplies	1.17	1.95	3.65	157
Biotechnology	1.11	2.06	3.60	541
Medical Care Facilities	1.08	2.07	3.70	187
Diagnostics & Research	1.20	2.12	4.78	101
Health Information Services	1.36	2.22	4.00	92
Drug Manufacturers - General	1.35	2.37	5.04	58
Healthcare Plans	2.30	2.85	6.48	10

Industrials (31)

Industry	P25	Median	P75	Values
Professional & Commercial Services	0.31	0.40	0.52	13
Machinery, Tools, Heavy Vehicles, Trains & Ships	0.39	0.76	1.26	41
Construction & Engineering	0.60	0.88	1.17	10
Conglomerates	0.45	0.95	1.87	305
Infrastructure Operations	0.66	0.98	1.66	34
Marine Shipping	0.74	1.13	1.79	216
Rental & Leasing Services	0.70	1.15	2.19	79
Aerospace & Defense	0.90	1.17	1.51	10
Trucking	0.84	1.24	2.16	42
Integrated Freight & Logistics	0.76	1.27	2.05	181
Building Products & Equipment	0.73	1.29	2.62	232
Construction & Engineering	0.80	1.34	2.15	16
Industrial Distribution	0.70	1.35	3.35	94
Engineering & Construction	0.73	1.46	2.76	687
Business Equipment & Supplies	0.81	1.47	2.18	66
Waste Management	0.83	1.49	2.54	120
Farm & Heavy Construction Machinery	0.90	1.57	2.50	140
Railroads	1.06	1.61	2.72	93
Staffing & Employment Services	0.89	1.67	3.09	70
Tools & Accessories	0.96	1.68	2.68	119
Specialty Business Services	0.83	1.71	3.34	179
Pollution & Treatment Controls	1.07	1.73	2.51	75
Metal Fabrication	0.87	1.81	3.17	237
Airports & Air Services	1.14	1.88	2.88	37
Airlines	1.39	1.92	2.95	45
Electrical Equipment	1.70	1.99	3.47	10
Specialty Industrial Machinery	1.24	2.14	3.95	736
Consulting Services	1.13	2.17	3.31	46
Electrical Equipment & Parts	1.33	2.23	3.97	519
Industrial Machinery	1.55	2.43	3.23	16
Aerospace & Defense	1.85	3.15	5.66	203

Information Technology (18)

Industry	P25	Median	P75	Values
Communications & Networking	0.50	0.62	1.22	12
Computers, Phones & Household Electronics	0.52	0.62	0.98	11
Electronic Equipment & Parts	0.51	0.72	1.28	19
Software & IT Services	0.52	0.78	1.19	33
IT Services	0.50	1.41	1.99	24
Electronics & Computer Distribution	0.91	1.60	2.52	150
Security & Protection Services	0.87	1.79	3.02	90
Solar	1.06	1.83	3.33	89
Semiconductors & Semiconductor Equipment	1.00	1.96	4.76	43
Computer Hardware	1.15	2.12	3.95	195
Communication Equipment	1.20	2.21	4.29	266
Information Technology Services	1.21	2.22	3.94	377
Electronic Components	1.27	2.35	4.32	627
Software - Infrastructure	1.26	2.36	4.36	256
Software - Application	1.17	2.36	4.70	466
Scientific & Technical Instruments	1.36	2.47	4.16	142
Semiconductors	1.91	3.27	6.01	321
Semiconductor Equipment & Materials	1.64	3.90	7.90	219

Materials (19)

Industry	P25	Median	P75	Values
Metals & Mining	0.17	0.35	0.46	16
Paper & Paper Products	0.39	0.80	1.35	112
Lumber & Wood Production	0.49	0.88	1.79	69
Other	0.39	0.94	1.62	39
Building Materials	0.61	0.97	1.71	243
Steel	0.56	1.03	1.79	387
Coking Coal	0.80	1.07	1.36	19
Packaging & Containers	0.65	1.12	2.03	236
Containers & Packaging	0.54	1.13	1.56	22
Agricultural Inputs	0.85	1.36	2.11	152
Chemicals	0.87	1.41	2.39	326
Aluminum	0.98	1.45	2.21	75
Other Industrial Metals & Mining	0.75	1.58	2.89	358
Construction Materials	1.14	1.60	3.77	11
Specialty Chemicals	0.95	1.71	2.85	670
Copper	1.30	1.92	3.72	53
Other Precious Metals & Mining	1.12	2.12	3.35	87
Gold	1.33	2.18	3.87	200
Silver	2.52	3.11	5.98	16

Real Estate (12)

Industry	P25	Median	P75	Values
REIT - Office	0.43	0.60	1.01	69
Real Estate - Diversified	0.35	0.63	1.02	122
REIT - Diversified	0.41	0.68	0.93	144
Real Estate - Development	0.34	0.70	1.26	520
Real Estate Services	0.40	0.72	1.31	471
REIT - Residential	0.41	0.83	1.48	46
REIT - Hotel & Motel	0.42	0.85	1.19	31
REIT - Industrial	0.72	0.92	1.23	53
REIT - Retail	0.67	0.96	1.35	91
REIT - Specialty	0.61	1.04	1.57	24
Real Estate Development	0.72	1.06	2.73	16
REIT - Healthcare Facilities	0.92	1.32	2.10	23

Utilities (6)

Industry	P25	Median	P75	Values
Utilities - Independent Power Producers	0.75	1.15	2.23	70
Utilities - Regulated Gas	0.60	1.32	1.91	91
Utilities - Renewable	0.71	1.37	2.37	180
Utilities - Regulated Water	0.97	1.49	2.38	52
Utilities - Regulated Electric	1.01	1.58	2.21	145
Utilities - Diversified	1.06	1.68	2.20	41

History of sector medians

Month	Real Estate	Financials	Communication Services	Consumer Discretionary	Materials	Utilities	Consumer Staples	Energy	Industrials	Health Care	Information Technology
2026-09	0.69	1.09	1.21	1.37	1.45	1.40	1.36	1.34	1.61	1.70	2.15
2026-10	0.77	1.16	1.25	1.45	1.48	1.44	1.48	1.48	1.70	1.85	2.36

Use it

P/B ratio calculator with live sector comparison → · Market valuation by sector and country → · Undervalued stocks by sector → · All 15 metrics →

Cite or reuse this table

Suggested citation: Fair Value Calculator (2026): Price-to-book ratio by sector and industry, as of October 21, 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.