First Property GroupLSE:FPO 44 PB Ratio is 0.38 as of Jul. 12, 2026, which is 56% below its 10-year median of 0.87. GuruFocus rates LSE:FPO with a GF Score™ of 44/100 and a GF Value™ of £0.14 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,715 Real Estate companies, First Property Group ranks better than 79.71% on this metric.
First Property Group PLC stock PB Ratio (=0.38) is close to 10-year low of 0.38.
The historical rank and industry rank for First Property Group's PB Ratio or its related term are showing as below:
LSE:FPO'
s PB Ratio Range Over the Past 10 Years
Min: 0.38 Med: 0.87 Max: 1.8
Current: 0.38
During the past 13 years, First Property Group's highest PB Ratio was 1.80. The lowest was 0.38. And the median was 0.87.
LSE:FPO's PB Ratio is ranked better than 79.71% of 1715
companies
in the Real Estate industry
Industry Median: 0.82
vs LSE:FPO: 0.38
During the past 12 months, First Property Group's average Book Value Per Share Growth Rate was 6.90% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -0.80% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 0.60% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 0.80% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of First Property Group was 37.00% per year. The lowest was -35.70% per year. And the median was 7.70% per year.
Back to Basics: PB Ratio
First Property Group (LSE:FPO) 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.
First Property Group PB Ratio Related Terms
First Property Group PB Ratio Historical Data
* Premium members only.
The historical data trend for First Property Group'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 Real Estate Services subindustry, First Property Group'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.
First Property Group PB Ratio vs Real Estate Industry
For the Real Estate industry and Real Estate sector, First Property Group's PB Ratio distribution charts can be found below:
* The bar in red indicates where First Property Group'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.
First Property Group (LSE:FPO) has a PB Ratio of 0.38 as of Jul. 12, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on First Property Group and its competitors. This is 56% below median its historical median of 0.87. Over the past decade, First Property Group's PB Ratio has ranged from 0.38 to 1.80. According to the industry distribution chart, First Property Group ranks #348 out of 1715 companies in the Real Estate industry, placing it in the top 20.3%.
Is First Property Group's PB Ratio too high?
First Property Group's current PB Ratio of 0.38 is 56% below median its 10-year median of 0.87. Over the past 10 years, this metric has ranged from a low of 0.38 to a high of 1.80. The Real Estate industry median PB Ratio is 0.82. First Property Group's value of 0.38 is 53.7% below this industry median. Based on the distribution chart, First Property Group ranks #348 out of 1715 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers. Overall, First Property Group has a GF Score™ of 44/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does First Property Group's PB Ratio compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, First Property Group ranks #348 out of 1715 companies for PB Ratio. This places First Property Group in the top 20% of its industry — outperforming the majority of peers. The industry median PB Ratio is 0.82. First Property Group's value of 0.38 is 53.7% below this benchmark. Historically, First Property Group's own PB Ratio has ranged from 0.38 to 1.80 over the past decade. While the company's 10-year median is 0.87 vs. the industry median of 0.82, First Property Group has consistently been below 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 Real Estate company?
The median PB Ratio among Real Estate companies is 0.82, based on 1,715 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. First Property Group's current PB Ratio of 0.38 is 53.7% 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 First Property Group and its competitors. For the Real Estate industry, the median PB Ratio is 0.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Property Group's current PB Ratio is 0.38, which is 56% below median its own 10-year median of 0.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Property Group stock overvalued right now?
Based on GuruFocus' analysis, First Property Group (LSE:FPO) is currently considered Modestly Undervalued. The stock's GF Value™ is £0.14, compared to a current price of £0.13 — trading 10.7% below its estimated fair value. The current PB Ratio is 0.38, which is 56% below median its 10-year median of 0.87 and 53.7% below the Real Estate industry median of 0.82. First Property Group's overall GF Score™ is 44/100 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 First Property Group (LSE:FPO), the current PB Ratio is 0.38 as of Jul. 12, 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 First Property Group (LSE:FPO) Overvalued in 2026?
Based on GuruFocus' analysis, First Property Group stock appears to be undervalued.
The current stock price of £0.13 is trading 10.7% below its estimated GF Value™ of £0.14.
GuruFocus considers First Property Group to be Modestly Undervalued.
Key valuation signals for LSE:FPO:
PB Ratio: 0.38 (56% below median its 10-year median of 0.87)
GF Value™: £0.14 vs. price of £0.13 (10.7% below fair value)
Industry Position: 53.7% below the Real Estate median (#348 of 1715)
No single metric tells the full story. See the LSE:FPO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Property Group PLC is a property fund manager and investor with operations in the United Kingdom and Central Europe mainly in Poland. The company is organized into three segments including Property Fund Management, Group Properties, and the Associates and Investments. It generates the majority of its revenue from the Group Properties segment. The Group Properties segment comprises the revenues and profits from its trading in its properties including rental and service charge income from the properties owned by the company.
44GF Score
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