Bharat Heavy Electricals P/B Ratio
Bharat Heavy Electricals (BHEL) P/B ratio is 5.59 (High), book value per share ₹375.68 vs Capital Goods average P/B of -0.37 — Very High - Significant premium, high growth expectations or speculative. View Bharat Heavy Electricals yearly highs lows for the annual high/low range and current price position.
Current Valuation Metrics
Book Value Breakdown (2026)
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 5.59 (High). For live price, earnings yield and the full fundamental profile, see BHEL stock price BSE.
- Stock appears overvalued with PB of 5.59, 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 734.3% above historical average
- Trading at premium to sector average PB of -0.37
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. Review BHEL P/E ratio to evaluate earnings-based valuation against sector peers.
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 |
|---|---|---|---|---|---|
| 2026 | 1.13 | ₹375.68 | ₹425.00 | ₹26,147 | Moderate |
| 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 |
BHEL vs Capital Goods Peers — P/B Ratio Comparison
Bharat Heavy Electricals P/B 5.59 vs Capital Goods average -0.37, median 0.57 — range -15.02–1.1.
| Company | Symbol | P/B Ratio | Market Cap (₹ Cr) | Valuation |
|---|---|---|---|---|
| Tarapur Transformers | TARAPUR | -15.02 | ₹28 | Low |
| Incon Engineers | INCON | -5.26 | ₹12 | Low |
| Switching Technologies G… | SWITCHTE | -4.79 | ₹28 | Low |
| Jyoti | JYOTI | -4.73 | ₹120 | Low |
| Miven Machine Tools | MIVENMACH | -4.36 | ₹26 | Low |
| Mipco Seamless Rings | MPCOSEMB | -2.94 | ₹10 | Low |
| Thakral Services | THAKRAL | -1.59 | ₹14 | Low |
| HMT | HMT | -1.01 | ₹2,765 | Low |
| TRF | TRF | -0.76 | ₹254 | Low |
| Benara Bearings | BENARA | -0.72 | ₹19 | Low |