Larsen & Toubro P/B Ratio
Larsen & Toubro (LT) P/B ratio is 4.82 (High), book value per share ₹4673.85 vs Construction average P/B of -0.22 — Very High - Significant premium, high growth expectations or speculative. Explore LT investment value to estimate fundamental worth using multiple valuation models.
Current Valuation Metrics
Book Value Breakdown (2026)
Valuation Signal
Sector Context
LT P/B Ratio — Valuation Insights & Book Value Analysis
Larsen & Toubro price-to-book ratio interpretation, valuation status and historical context — current P/B 4.82 (High). For live price, earnings yield and the full fundamental profile, see LT share price.
- Stock appears overvalued with PB of 4.82, 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 455.3% above historical average
- Trading at premium to sector average PB of -0.22
Larsen & Toubro P/B Ratio Historical Trend
LT 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. Read LT dividend yield for the complete payout history and dividend yield track record.
LT Historical P/B Ratio — Book Value Per Share & Year-End Price
Larsen & Toubro 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 | 0.83 | ₹4673.85 | ₹3885.00 | ₹128,531 | Low |
| 2025 | 0.97 | ₹4196.51 | ₹4083.50 | ₹115,404 | Low |
| 2024 | 0.97 | ₹3729.09 | ₹3607.65 | ₹102,550 | Low |
| 2023 | 0.96 | ₹3685.66 | ₹3526.00 | ₹103,567 | Low |
| 2022 | 0.61 | ₹3394.09 | ₹2085.80 | ₹95,374 | Low |
LT vs Construction Peers — P/B Ratio Comparison
Larsen & Toubro P/B 4.82 vs Construction average -0.22, median 0.37 — range -8.4–0.67.
| Company | Symbol | P/B Ratio | Market Cap (₹ Cr) | Valuation |
|---|---|---|---|---|
| Anand Projects | ANANDPROJ | -8.4 | ₹4 | Low |
| Shiva Cement | SHIVACEM | -7.11 | ₹471 | Low |
| Hemadri Cements | HEMACEM | -3.9 | ₹33 | Low |
| Refex Renewables Infrast… | REFEXRENEW | -2.19 | ₹143 | Low |
| Sadbhav Engineering | SADBHAV | -1.25 | ₹135 | Low |
| Sri Chakra Cement Limited | SRICC | -0.98 | ₹33 | Low |
| BGR Energy Systems | BGRENERGY | -0.62 | ₹1,680 | Low |
| Triveni Glass | TRIVENIGQ | -0.55 | ₹8 | Low |
| Vardhman Concrete | VARDHMAN | -0.42 | ₹5 | Low |
| Panyam Cements & Mineral… | PANCM | -0.39 | ₹94 | Low |