Primary HydrogenHNATF +5.05%15 PB Ratio is 1.63 as of Jun. 29, 2026. GuruFocus rates HNATF with a GF Score™ of 15/100. The stock has 1 warning sign investors should review. Among 2,357 Metals & Mining companies, Primary Hydrogen ranks better than 60.46% on this metric.
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 (2026-06-29), Primary Hydrogen's share price is $0.6949. Primary Hydrogen's Book Value per Share for the quarter that ended in Feb. 2026 was $0.43. Hence, Primary Hydrogen's PB Ratio of today is 1.63.
The historical rank and industry rank for Primary Hydrogen's PB Ratio or its related term are showing as below:
HNATF'
s PB Ratio Range Over the Past 10 Years
Min: 0 Med: 0 Max: 1.72
Current: 1.72
During the past 6 years, Primary Hydrogen's highest PB Ratio was 1.72. The lowest was 0.00. And the median was 0.00.
HNATF's PB Ratio is ranked better than 60.46% of 2357
companies
in the Metals & Mining industry
Industry Median: 2.27
vs HNATF: 1.72
During the past 12 months, Primary Hydrogen's average Book Value Per Share Growth Rate was -41.70% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 19.40% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 17.30% per year.
During the past 6 years, the highest 3-Year average Book Value Per Share Growth Rate of Primary Hydrogen was 29.80% per year. The lowest was -3.30% per year. And the median was 19.40% per year.
Back to Basics: PB Ratio
Primary Hydrogen (OTCPK:HNATF) 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.
Primary Hydrogen PB Ratio Related Terms
Primary Hydrogen PB Ratio Historical Data
* Premium members only.
The historical data trend for Primary Hydrogen'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.
For the Other Industrial Metals & Mining subindustry, Primary Hydrogen'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.
Primary Hydrogen PB Ratio vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Primary Hydrogen's PB Ratio distribution charts can be found below:
* The bar in red indicates where Primary Hydrogen'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.
Primary Hydrogen (HNATF) has a PB Ratio of 1.63 as of Jun. 29, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Primary Hydrogen and its competitors. According to the industry distribution chart, Primary Hydrogen ranks #932 out of 2357 companies in the Metals & Mining industry, placing it in the top 39.5%.
Is Primary Hydrogen's PB Ratio too high?
Primary Hydrogen's current PB Ratio is 1.63. The Metals & Mining industry median PB Ratio is 2.27. Primary Hydrogen's value of 1.63 is 28.2% below this industry median. Based on the distribution chart, Primary Hydrogen ranks #932 out of 2357 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Primary Hydrogen has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does Primary Hydrogen's PB Ratio compare to competitors?
According to the Metals & Mining industry distribution chart, Primary Hydrogen ranks #932 out of 2357 companies for PB Ratio. This puts Primary Hydrogen in the upper half of its industry. The industry median PB Ratio is 2.27. Primary Hydrogen's value of 1.63 is 28.2% below this benchmark. 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 Metals & Mining company?
The median PB Ratio among Metals & Mining companies is 2.27, based on 2,357 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. Primary Hydrogen's current PB Ratio of 1.63 is 28.2% below 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 Primary Hydrogen and its competitors. For the Metals & Mining industry, the median PB Ratio is 2.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Primary Hydrogen's current PB Ratio is 1.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Primary Hydrogen stock overvalued right now?
Primary Hydrogen (HNATF) has a current PB Ratio of 1.63. The current PB Ratio is 1.63 and 28.2% below the Metals & Mining industry median of 2.27. Primary Hydrogen's overall GF Score™ is 15/100 with 1 warning sign 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 Primary Hydrogen (HNATF), the current PB Ratio is 1.63 as of Jun. 29, 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.
Primary Hydrogen Corp. is engaged in the acquisition, exploration, and development of natural hydrogen properties. The group has an extensive portfolio of properties covering over 210 square kilometres across Canada including the Blakelock and Hopkins projects in Ontario, the Point Rosie, Gaspe Ophiolite, Coquihalla, Cogburn, and Crooked Amphibolite. The Marys Harbour and Point Rosie properties are located in Southern Newfoundland and Labrador. The Coquihalla, Cogburn, and Crooked Amphibolite properties are located in Southern British Columbia. The Gaspe Ophiolite property is located in Southern Quebec.
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