Bharat Heavy Electricals P/B Ratio
Bharat Heavy Electricals (BHEL) P/B ratio is 5.32 (High), book value per share ₹355.20 vs Capital Goods average P/B of -0.63 — Very High - Significant premium, high growth expectations or speculative. For live price, earnings yield and the full fundamental profile, see BHEL stock price BSE.
Current Valuation Metrics
Book Value Breakdown (2025)
Valuation Signal
Sector Context
BHEL P/B Ratio — Valuation Insights & Book Value Analysis
Bharat Heavy Electricals price-to-book ratio interpretation, valuation status and historical context — current P/B 5.32 (High). View Bharat Heavy Electricals yearly highs lows for the annual high/low range and current price position.
- Stock appears overvalued with PB of 5.32, trading at significant premium to book value
- Trading at high premium to book value - indicates strong growth expectations or asset-light business model
- Current PB is 1017.6% above historical average
- Trading at premium to sector average PB of -0.63
Bharat Heavy Electricals P/B Ratio Historical Trend
BHEL annual price-to-book ratio — 5 years, book value per share and year-end price. P/B below 1.0 indicates the stock trades below net asset value. Compare with BHEL fair price to assess whether the stock is under or overvalued.
BHEL Historical P/B Ratio — Book Value Per Share & Year-End Price
Bharat Heavy Electricals annual P/B ratio, book value per share (₹), year-end price and total equity in ₹ Crores.
| Year | P/B Ratio | Book Value/Share (₹) | Year-end Price (₹) | Total Equity (₹ Cr) | Valuation |
|---|---|---|---|---|---|
| 2025 | 0.81 | ₹355.2 | ₹287.45 | ₹24,722 | Low |
| 2024 | 0.65 | ₹351.14 | ₹229.40 | ₹24,439 | Low |
| 2023 | 0.55 | ₹350.26 | ₹193.55 | ₹24,378 | Low |
| 2022 | 0.21 | ₹380.85 | ₹79.20 | ₹26,507 | Low |
| 2021 | 0.16 | ₹373.16 | ₹58.95 | ₹25,972 | Low |
BHEL vs Capital Goods Peers — P/B Ratio Comparison
Bharat Heavy Electricals P/B 5.32 vs Capital Goods average -0.63, median 0.58 — range -21.36–1.12.
| Company | Symbol | P/B Ratio | Market Cap (₹ Cr) | Valuation |
|---|---|---|---|---|
| Tarapur Transformers | TARAPUR | -21.36 | ₹38 | Low |
| Lexoraa Industries | LEXORAA | -8.38 | ₹7 | Low |
| Jyoti | JYOTI | -5.73 | ₹142 | Low |
| Miven Machine Tools | MIVENMACH | -5.04 | ₹29 | Low |
| Switching Technologies G… | SWITCHTE | -3.76 | ₹23 | Low |
| Incon Engineers | INCON | -3.64 | ₹8 | Low |
| Mipco Seamless Rings | MPCOSEMB | -2.94 | ₹10 | Low |
| Thakral Services | THAKRAL | -1.81 | ₹17 | Low |
| HMT | HMT | -1.3 | ₹3,311 | Low |
| Benara Bearings | BENARA | -0.72 | ₹19 | Low |