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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 (2026-07-16), Nikola's share price is MXN3.79. Nikola's Book Value per Share for the quarter that ended in Dec. 2024 was MXN19.37. Hence, Nikola's PB Ratio of today is 0.20.
The historical rank and industry rank for Nikola's PB Ratio or its related term are showing as below:
MEX:NKLA's PB Ratio is not ranked *
in the Farm & Heavy Construction Machinery industry.
Industry Median: 1.53 * Ranked among companies with meaningful PB Ratio only.
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.
Nikola PB Ratio Related Terms
Nikola PB Ratio Historical Data
* Premium members only.
The historical data trend for Nikola'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 Farm & Heavy Construction Machinery subindustry, Nikola'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.
Nikola PB Ratio vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Nikola's PB Ratio distribution charts can be found below:
* The bar in red indicates where Nikola'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.
Nikola's PB Ratio for today is calculated as follows:
* 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.
Nikola (MEX:NKLA) has a PB Ratio of 0.20 as of Jul. 16, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Nikola and its competitors.
Is Nikola's PB Ratio too high?
Nikola's current PB Ratio is 0.20. The Farm & Heavy Construction Machinery industry median PB Ratio is 1.53. Nikola's value of 0.20 is 86.9% below this industry median. Overall, Nikola has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Nikola's PB Ratio compare to NMHI and GP?
Nikola's PB Ratio of 0.20 can be compared against companies in the Farm & Heavy Construction Machinery industry. The industry median PB Ratio is 1.53. Nikola's value of 0.20 is 86.9% 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 Farm & Heavy Construction Machinery company?
The median PB Ratio among Farm & Heavy Construction Machinery companies is 1.53, based on 202 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. Nikola's current PB Ratio of 0.20 is 86.9% 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 Nikola and its competitors. For the Farm & Heavy Construction Machinery industry, the median PB Ratio is 1.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nikola's current PB Ratio is 0.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nikola stock overvalued right now?
Nikola (MEX:NKLA) has a current PB Ratio of 0.20. The current PB Ratio is 0.20 and 86.9% below the Farm & Heavy Construction Machinery industry median of 1.53. Nikola's overall GF Score™ is 12/100. 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 Nikola (MEX:NKLA), the current PB Ratio is 0.20 as of Jul. 16, 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.
Nikola Corp is a technology innovator and integrator, working to develop inventive energy and transportation solutions. It works on a business model that enables customers and fleets to integrate next-generation truck technology, hydrogen fueling and charging infrastructure, and related maintenance. It operates in two business units: Truck and Energy. The Truck business unit is engaged in manufacturing and selling FCEV and BEV trucks that provide environmentally friendly, cost-effective solutions to the trucking sector. The Energy business unit is engaged in developing and constructing a network of hydrogen fueling stations to meet the hydrogen fuel demand for the company's customers, as well as other third-party customers.
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