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The historical rank and industry rank for National Bank Holdings's PB Ratio or its related term are showing as below:
FRA:NB9'
s PB Ratio Range Over the Past 10 Years
Min: 0.92 Med: 1.37 Max: 1.9
Current: 1.25
During the past 13 years, National Bank Holdings's highest PB Ratio was 1.90. The lowest was 0.92. And the median was 1.37.
FRA:NB9's PB Ratio is ranked worse than 60.98% of 1517
companies
in the Banks industry
Industry Median: 1.12
vs FRA:NB9: 1.25
During the past 12 months, National Bank Holdings's average Book Value Per Share Growth Rate was 6.80% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 8.10% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 6.70% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 6.70% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of National Bank Holdings was 10.60% per year. The lowest was -1.00% per year. And the median was 4.65% per year.
Back to Basics: PB Ratio
National Bank Holdings (FRA:NB9) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Banks - Regional subindustry, National Bank Holdings's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
National Bank Holdings PB Ratio vs Banks Industry
For the Banks industry and Financial Services sector, National Bank Holdings's PB Ratio distribution charts can be found below:
* The bar in red indicates where National Bank Holdings's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
National Bank Holdings (FRA:NB9) has a PB Ratio of 1.24 as of Jul. 18, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on National Bank Holdings and its competitors. This is near median its historical median of 1.37. Over the past decade, National Bank Holdings' PB Ratio has ranged from 0.92 to 1.90. According to the industry distribution chart, National Bank Holdings ranks #925 out of 1517 companies in the Banks industry, placing it in the top 61%.
Is National Bank Holdings' PB Ratio too high?
National Bank Holdings' current PB Ratio of 1.24 is near median its 10-year median of 1.37. Over the past 10 years, this metric has ranged from a low of 0.92 to a high of 1.90. The Banks industry median PB Ratio is 1.12. National Bank Holdings' value of 1.24 is 10.7% above this industry median. Based on the distribution chart, National Bank Holdings ranks #925 out of 1517 companies in the Banks industry, which is below the industry midpoint. Overall, National Bank Holdings has a GF Score™ of 62/100, reflecting its overall financial health beyond just this single metric.
How does National Bank Holdings' PB Ratio compare to STEL and OFG?
According to the Banks industry distribution chart, National Bank Holdings ranks #925 out of 1517 companies for PB Ratio. This places National Bank Holdings in the lower half of its industry. The industry median PB Ratio is 1.12. National Bank Holdings' value of 1.24 is 10.7% above this benchmark. Historically, National Bank Holdings' own PB Ratio has ranged from 0.92 to 1.90 over the past decade. While the company's 10-year median is 1.37 vs. the industry median of 1.12, National Bank Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Banks company?
The median PB Ratio among Banks companies is 1.12, based on 1,517 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Bank Holdings's current PB Ratio of 1.24 is 10.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on National Bank Holdings and its competitors. For the Banks industry, the median PB Ratio is 1.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Bank Holdings's current PB Ratio is 1.24, which is near median its own 10-year median of 1.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Bank Holdings stock overvalued right now?
National Bank Holdings (FRA:NB9) has a current PB Ratio of 1.24. The stock's GF Value™ is €34.70, compared to a current price of €40.00 — trading 15.3% above its estimated fair value. The current PB Ratio is 1.24, which is near median its 10-year median of 1.37 and 10.7% above the Banks industry median of 1.12. National Bank Holdings' overall GF Score™ is 62/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For National Bank Holdings (FRA:NB9), the current PB Ratio is 1.24 as of Jul. 18, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is National Bank Holdings (FRA:NB9) Overvalued in 2026?
Based on GuruFocus' analysis, National Bank Holdings stock appears to be overvalued.
The current stock price of €40.00 is trading 15.3% above its estimated GF Value™ of €34.70.
Key valuation signals for FRA:NB9:
PB Ratio: 1.24 (near median its 10-year median of 1.37)
GF Value™: €34.70 vs. price of €40.00 (15.3% above fair value)
Industry Position: 10.7% above the Banks median (#925 of 1517)
No single metric tells the full story. See the FRA:NB9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Bank Holdings Corp offers a full range of banking products and financial services to commercial, business, and consumer clients predominantly in Colorado, with a focus on personalized service through relationship managers and banking center associates. The company provides commercial and industrial loans, non-owner occupied commercial real estate loans, Small Business Administration loans as a Preferred Lender Provider, U.S. Department of Agriculture and Farm Service Agency loans, commercial deposit and treasury management products, business online and mobile banking, consumer and residential real estate loans, deposit services, and trust and wealth management services. Its services emphasize full-relationship banking, integrating lending, deposits, and cash management solutions.
62GF Score
Get the complete analysis for FRA:NB9
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