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 18, 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 158 industries, from 29,151 valued stocks worldwide.

As of September 18, 2026 · updated daily · CSV JSON

What the numbers show

The lowest sector median is 0.71 (Real Estate, 1,453 values), the highest 2.27 (Information Technology, 2,947 values).

That is a factor of 3.2 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 1.41; half of its 3,001 stocks sit between 0.63 and 2.84.

P/B ratio by sector

Sector	P25	Median	P75	Values
Real Estate	0.32	0.71	1.26	1,453
Financials	0.67	1.15	1.84	2,865
Communication Services	0.52	1.23	2.78	896
Consumer Staples	0.60	1.39	2.67	1,443
Utilities	0.75	1.40	2.28	590
Consumer Discretionary	0.63	1.41	2.84	3,001
Energy	0.78	1.43	2.48	865
Materials	0.68	1.47	2.87	2,897
Industrials	0.70	1.63	3.31	4,610
Health Care	0.83	1.80	3.54	2,011
Information Technology	0.85	2.27	4.66	2,947

P/B ratio by industry (158)

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	0.51	0.80	1.80	48
Publishing	0.51	0.95	2.39	91
Electronic Gaming & Multimedia	0.42	0.98	3.12	109
Entertainment	0.43	1.06	2.45	174
Advertising Agencies	0.48	1.30	2.49	154
Telecom Services	0.74	1.43	2.93	206
Internet Content & Information	0.86	1.67	3.52	116

Consumer Discretionary (26)

Industry	P25	Median	P75	Values
Residential Construction	0.43	0.90	1.47	59
Education & Training Services	0.36	0.92	2.78	107
Lodging	0.35	1.10	2.44	117
Textile Manufacturing	0.64	1.12	1.98	244
Furnishings, Fixtures & Appliances	0.56	1.18	2.55	256
Textiles	0.65	1.19	1.81	25
Apparel Manufacturing	0.58	1.24	2.67	154
Department Stores	0.45	1.26	2.08	89
Specialty Retail	0.70	1.34	2.96	190
Footwear & Accessories	0.57	1.36	2.75	75
Home Improvement Retail	0.91	1.36	2.36	33
Resorts & Casinos	0.49	1.43	3.17	50
Auto Manufacturers	0.57	1.43	3.19	93
Recreational Vehicles	0.69	1.45	2.47	32
Auto & Truck Dealerships	0.73	1.45	2.85	77
Consumer Electronics	0.50	1.50	2.86	94
Apparel Retail	0.65	1.51	3.04	85
Internet Retail	0.49	1.53	4.03	83
Restaurants	0.59	1.57	3.16	174
Leisure	0.88	1.57	2.88	147
Auto Parts	0.81	1.63	3.14	536
Personal Services	0.76	1.66	3.29	34
Luxury Goods	0.78	1.72	3.54	114
Travel Services	0.81	2.21	2.97	65
Gambling	0.83	2.34	4.71	43
Discount Stores	2.99	4.59	9.17	20

Consumer Staples (13)

Industry	P25	Median	P75	Values
Agricultural Products	0.45	0.54	0.65	12
Farm Products	0.29	0.77	1.67	250
Food Products	0.58	0.82	2.39	10
Confectioners	0.48	0.93	2.06	54
Beverages - Wineries & Distilleries	0.56	1.12	2.11	87
Packaged Foods	0.70	1.47	2.67	519
Pharmaceutical Retailers	0.69	1.52	2.84	43
Food Distribution	0.52	1.58	2.71	67
Household & Personal Products	0.55	1.61	2.99	188
Grocery Stores	1.02	1.71	3.16	71
Beverages - Brewers	1.02	1.84	2.70	52
Beverages - Non-Alcoholic	0.94	2.35	4.67	76
Tobacco	0.67	2.62	4.41	28

Energy (8)

Industry	P25	Median	P75	Values
Thermal Coal	0.77	1.18	2.16	88
Oil & Gas Equipment & Services	0.60	1.28	2.62	163
Oil & Gas E&P	0.77	1.32	2.40	258
Oil & Gas Drilling	0.73	1.35	1.93	31
Oil & Gas Refining & Marketing	0.86	1.41	2.42	94
Oil & Gas Integrated	0.84	1.58	2.25	48
Uranium	1.14	1.74	3.27	25
Oil & Gas Midstream	1.35	2.21	3.21	78

Financials (18)

Industry	P25	Median	P75	Values
Financial Services	0.28	0.56	0.85	10
REIT - Mortgage	0.45	0.59	0.88	38
Mortgage Finance	0.30	0.72	1.50	60
Asset Management	0.56	0.89	1.98	569
Credit Services	0.53	1.00	2.07	275
Banks - Regional	0.81	1.14	1.49	1,018
Capital Markets	0.62	1.20	2.20	365
Insurance - Reinsurance	0.78	1.22	1.89	27
Insurance - Life	0.78	1.28	2.09	86
Insurance - Specialty	1.09	1.31	2.13	28
Specialized Finance	0.64	1.37	1.85	12
Shell Companies	0.65	1.41	3.43	45
Insurance - Diversified	0.89	1.48	2.08	75
Financial Conglomerates	0.79	1.48	2.55	47
Insurance - Property & Casualty	0.85	1.51	2.32	104
Banks - Diversified	0.77	1.54	2.01	47
Insurance Brokers	1.83	2.95	4.71	28
Financial Data & Stock Exchanges	2.53	4.30	6.72	45

Health Care (11)

Industry	P25	Median	P75	Values
Medical Distribution	0.63	0.91	1.48	65
Pharmaceuticals	0.94	1.15	2.09	21
Medical Care Facilities	0.81	1.53	3.03	220
Biotechnology	0.62	1.62	3.45	518
Medical Devices	0.73	1.82	3.46	284
Drug Manufacturers - Specialty & Generic	0.95	1.89	3.33	451
Health Information Services	0.94	2.00	4.12	112
Diagnostics & Research	0.86	2.04	4.54	114
Medical Instruments & Supplies	1.31	2.07	3.60	175
Healthcare Plans	1.76	2.80	4.53	14
Drug Manufacturers - General	1.44	2.98	6.41	64

Industrials (27)

Industry	P25	Median	P75	Values
Conglomerates	0.33	0.88	2.00	282
Rental & Leasing Services	0.43	0.93	2.28	75
Infrastructure Operations	0.57	1.00	1.87	62
Marine Shipping	0.65	1.13	1.67	205
Engineering & Construction	0.50	1.22	2.75	693
Integrated Freight & Logistics	0.50	1.24	2.29	180
Trucking	0.90	1.29	2.29	36
Waste Management	0.47	1.31	2.46	146
Railroads	0.82	1.31	2.54	104
Building Products & Equipment	0.51	1.33	2.94	212
Business Equipment & Supplies	0.65	1.39	2.46	61
Industrial Distribution	0.65	1.41	3.50	101
Construction & Engineering	0.96	1.46	3.03	14
Staffing & Employment Services	0.99	1.56	3.05	77
Pollution & Treatment Controls	0.56	1.60	2.65	76
Farm & Heavy Construction Machinery	1.03	1.65	2.78	136
Metal Fabrication	0.72	1.69	3.39	212
Electrical Equipment	1.10	1.78	2.38	19
Tools & Accessories	1.05	1.79	2.87	104
Airports & Air Services	1.12	1.82	3.25	42
Specialty Business Services	0.89	1.91	3.53	189
Airlines	1.20	1.97	2.76	38
Consulting Services	1.11	2.18	3.45	68
Specialty Industrial Machinery	1.09	2.24	4.37	723
Electrical Equipment & Parts	1.05	2.40	4.67	472
Industrial Machinery	1.41	2.53	3.52	21
Aerospace & Defense	1.66	3.55	6.32	200

Information Technology (13)

Industry	P25	Median	P75	Values
Solar	0.23	1.07	3.42	85
Electronics & Computer Distribution	0.58	1.35	2.45	137
IT Services	0.87	1.44	2.56	25
Security & Protection Services	0.88	1.67	2.91	96
Computer Hardware	0.76	2.01	3.83	192
Information Technology Services	0.71	2.08	3.72	404
Communication Equipment	0.84	2.21	4.97	251
Software - Application	0.94	2.36	4.76	564
Electronic Components	1.00	2.53	4.84	527
Scientific & Technical Instruments	1.17	2.64	4.78	144
Software - Infrastructure	1.01	2.66	5.21	286
Semiconductors	1.74	3.46	6.57	277
Semiconductor Equipment & Materials	1.55	4.11	8.49	148

Materials (17)

Industry	P25	Median	P75	Values
Other	0.20	0.54	1.78	34
Lumber & Wood Production	0.25	0.69	1.45	64
Coking Coal	0.32	0.73	1.25	24
Paper & Paper Products	0.44	0.80	1.43	95
Building Materials	0.34	0.93	1.77	201
Steel	0.49	1.10	1.99	304
Packaging & Containers	0.53	1.11	2.13	215
Agricultural Inputs	0.76	1.41	2.27	156
Containers & Packaging	0.57	1.46	1.87	19
Aluminum	0.89	1.56	2.79	72
Chemicals	0.62	1.57	2.68	271
Other Industrial Metals & Mining	0.73	1.68	3.31	430
Specialty Chemicals	0.94	1.82	3.21	574
Other Precious Metals & Mining	0.94	2.02	3.89	94
Copper	1.12	2.24	3.65	54
Gold	1.38	2.53	4.45	226
Silver	2.67	3.96	7.76	14

Real Estate (12)

Industry	P25	Median	P75	Values
Real Estate - Diversified	0.20	0.51	1.07	106
Real Estate - Development	0.23	0.53	1.14	422
REIT - Office	0.44	0.62	1.05	54
Real Estate Services	0.35	0.69	1.40	425
REIT - Diversified	0.45	0.78	1.10	127
REIT - Hotel & Motel	0.38	0.85	1.24	27
REIT - Industrial	0.56	0.88	1.22	53
REIT - Residential	0.39	0.94	2.03	41
REIT - Retail	0.63	0.97	1.55	87
Real Estate Development	0.97	1.17	3.69	11
REIT - Specialty	0.67	1.22	2.80	27
REIT - Healthcare Facilities	1.11	1.39	2.17	25

Utilities (6)

Industry	P25	Median	P75	Values
Utilities - Renewable	0.52	1.14	2.35	169
Utilities - Independent Power Producers	0.69	1.33	2.92	66
Utilities - Regulated Water	0.95	1.43	2.18	61
Utilities - Regulated Gas	1.01	1.49	2.16	86
Utilities - Diversified	1.07	1.51	2.39	49
Utilities - Regulated Electric	0.88	1.57	2.22	140

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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 18, 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.