Argo Blockchain (HAM:0XP) PB Ratio: (As of Jul. 18, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
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Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HAM:0XP Argo Blockchain PLC HAM:0XP
16 GF Score
Price €0.02
GF Value €0.20
! 5 Warning Signs
View Full Analysis

What is Argo Blockchain PB Ratio?

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. As of today (2026-07-18), Argo Blockchain's share price is €0.02. Argo Blockchain's Book Value per Share for the fiscal year that ended in Dec. 2025 was €0.00. Hence, Argo Blockchain's PB Ratio of today is .

Good Sign:

Argo Blockchain PLC stock PB Ratio (=0.17) is close to 3-year low of 0.17.

The historical rank and industry rank for Argo Blockchain's PB Ratio or its related term are showing as below:

HAM:0XP' s PB Ratio Range Over the Past 10 Years
Min: 0.05   Med: 2.68   Max: 36.24
Current: 0.17

During the past 8 years, Argo Blockchain's highest PB Ratio was 36.24. The lowest was 0.05. And the median was 2.68.

HAM:0XP's PB Ratio is ranked better than
98.33% of 777 companies
in the Capital Markets industry
Industry Median: 1.34 vs HAM:0XP: 0.17

During the past 3 years, the average Book Value Per Share Growth Rate was -29.30% per year.

During the past 8 years, the highest 3-Year average Book Value Per Share Growth Rate of Argo Blockchain was 84.30% per year. The lowest was -29.30% per year. And the median was -18.10% per year.

Back to Basics: PB Ratio


Argo Blockchain  (HAM:0XP) PB Ratio Explanation

Unlike valuation ratios relative to the earning power such as PE Ratio, PE Ratio without NRI, PS Ratio, Price-to-Operating-Cash-Flow , or Price-to-Free-Cash-Flow, the PB Ratio measures the valuation of the stock relative to the underlying asset of the company.

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.


Argo Blockchain PB Ratio Related Terms


Argo Blockchain PB Ratio Historical Data

* Premium members only.

The historical data trend for Argo Blockchain's PB Ratio can be seen below:

* 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.

Argo Blockchain PB Ratio Chart

Argo Blockchain Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
PB Ratio
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

Argo Blockchain Semi-Annual Data
Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

HAM:0XP vs BTCS, BGDE, PLUT: PB Ratio Comparison

For the Capital Markets subindustry, Argo Blockchain'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.


Argo Blockchain PB Ratio vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Argo Blockchain's PB Ratio distribution charts can be found below:

* The bar in red indicates where Argo Blockchain's PB Ratio falls into.


HAM:0XP
16GF Score
Argo Blockchain PLC HAM:0XP
PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Argo Blockchain PB Ratio Calculation

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.

Argo Blockchain's PB Ratio for today is calculated as follows:

PB Ratio=Share Price/Book Value per Share (A: Dec. 2025)
=0.02/0
=

* 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.

Is Argo Blockchain (HAM:0XP) Overvalued in 2026?

Based on GuruFocus' analysis, Argo Blockchain stock appears to be undervalued. The current stock price of €0.02 is trading 90% below its estimated GF Value™ of €0.20.

Key valuation signals for HAM:0XP:

  • PB Ratio:
  • GF Value™: €0.20 vs. price of €0.02 (90% below fair value)
  • GF Score™: 16/100 with 5 warning signs

No single metric tells the full story. See the HAM:0XP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Argo Blockchain Business Description

Other Exchanges ARBK:USA
Address 27/28 Eastcastle Street, Eastcastle House, London, GBR, W1W 8DH
Argo Blockchain PLC is a blockchain technology company focused on the large-scale mining of Bitcoin. It mines bitcoin using purpose-built computers (or mining machines) to solve complex cryptographic algorithms on the blockchain in exchange for rewards and fees denominated in the native token of that blockchain network. The company acquires and deploys mining technology solutions in North American facilities that utilize predominantly renewable and inexpensive electricity.
16GF Score

Get the complete analysis for HAM:0XP

PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€0.02
Price
€0.20
GF Value