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Reliance IndustriesLUX:RELIN 91 PB Ratio is 2.65 as of Jul. 13, 2026, which is 29% above its 10-year median of 2.05. GuruFocus rates LUX:RELIN with a GF Score™ of 91/100 and a GF Value™ of $92.69. The stock has 2 warning signs investors should review. Among 924 Oil & Gas companies, Reliance Industries ranks worse than 65.04% on this metric.
Reliance Industries Ltd stock PB Ratio (=1.96) is close to 5-year low of 1.87.
The historical rank and industry rank for Reliance Industries's PB Ratio or its related term are showing as below:
LUX:RELIN'
s PB Ratio Range Over the Past 10 Years
Min: 1.06 Med: 2.05 Max: 2.67
Current: 1.96
During the past 13 years, Reliance Industries's highest PB Ratio was 2.67. The lowest was 1.06. And the median was 2.05.
LUX:RELIN's PB Ratio is ranked worse than 65.04% of 924
companies
in the Oil & Gas industry
Industry Median: 1.41
vs LUX:RELIN: 1.96
During the past 12 months, Reliance Industries's average Book Value Per Share Growth Rate was 7.20% 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 4.70% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 14.40% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Reliance Industries was 31.20% per year. The lowest was 2.70% per year. And the median was 11.00% per year.
Back to Basics: PB Ratio
Reliance Industries (LUX:RELIN) 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.
Reliance Industries PB Ratio Related Terms
Reliance Industries PB Ratio Historical Data
* Premium members only.
The historical data trend for Reliance Industries'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 Oil & Gas Refining & Marketing subindustry, Reliance Industries'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.
Reliance Industries PB Ratio vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Reliance Industries's PB Ratio distribution charts can be found below:
* The bar in red indicates where Reliance Industries'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.
Reliance Industries (LUX:RELIN) has a PB Ratio of 2.65 as of Jul. 13, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Reliance Industries and its competitors. This is 29% above median its historical median of 2.05. Over the past decade, Reliance Industries' PB Ratio has ranged from 1.06 to 2.67. According to the industry distribution chart, Reliance Industries ranks #601 out of 924 companies in the Oil & Gas industry, placing it in the top 65%.
Is Reliance Industries' PB Ratio too high?
Reliance Industries' current PB Ratio of 2.65 is 29% above median its 10-year median of 2.05. Over the past 10 years, this metric has ranged from a low of 1.06 to a high of 2.67. The Oil & Gas industry median PB Ratio is 1.41. Reliance Industries' value of 2.65 is 87.9% above this industry median. Based on the distribution chart, Reliance Industries ranks #601 out of 924 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Reliance Industries has a GF Score™ of 91/100, reflecting its overall financial health beyond just this single metric.
How does Reliance Industries' PB Ratio compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Reliance Industries ranks #601 out of 924 companies for PB Ratio. This places Reliance Industries in the lower half of its industry. The industry median PB Ratio is 1.41. Reliance Industries' value of 2.65 is 87.9% above this benchmark. Historically, Reliance Industries' own PB Ratio has ranged from 1.06 to 2.67 over the past decade. While the company's 10-year median is 2.05 vs. the industry median of 1.41, Reliance Industries 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 an Oil & Gas company?
The median PB Ratio among Oil & Gas companies is 1.41, based on 924 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. Reliance Industries's current PB Ratio of 2.65 is 87.9% 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 Reliance Industries and its competitors. For the Oil & Gas industry, the median PB Ratio is 1.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Reliance Industries's current PB Ratio is 2.65, which is 29% above median its own 10-year median of 2.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Reliance Industries stock overvalued right now?
Reliance Industries (LUX:RELIN) has a current PB Ratio of 2.65. The stock's GF Value™ is $92.69, compared to a current price of $76.40 — trading 17.6% below its estimated fair value. The current PB Ratio is 2.65, which is 29% above median its 10-year median of 2.05 and 87.9% above the Oil & Gas industry median of 1.41. Reliance Industries' overall GF Score™ is 91/100 with 2 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 Reliance Industries (LUX:RELIN), the current PB Ratio is 2.65 as of Jul. 13, 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 Reliance Industries (LUX:RELIN) Overvalued in 2026?
Based on GuruFocus' analysis, Reliance Industries stock appears to be undervalued.
The current stock price of $76.40 is trading 17.6% below its estimated GF Value™ of $92.69.
Key valuation signals for LUX:RELIN:
PB Ratio: 2.65 (29% above median its 10-year median of 2.05)
GF Value™: $92.69 vs. price of $76.40 (17.6% below fair value)
Industry Position: 87.9% above the Oil & Gas median (#601 of 924)
No single metric tells the full story. See the LUX:RELIN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Reliance Industries Ltd is engaged in hydrocarbon exploration and production, refining and marketing, petrochemicals, financial services, retail, and communications. The company has five principal operating and reporting segments: Oil to Chemicals (O2C), Oil and Gas, Retail, Digital Services, and other services. Reliance's refineries produce a range of petroleum products that find use as fuel variants, feedstock, and fuel for power and cement plants. Fuels produced in refineries are exported to several countries and can be processed into any grade of gasoline or diesel. The Oil to Chemicals segment, which derives the majority of revenue, includes Refining, Petrochemicals, fuel retailing through Reliance BP Mobility Limited, aviation fuel, and bulk wholesale marketing.
91GF Score
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