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.
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.
National Gas CoOGMUS:NGCI -1.85%30 PB Ratio is 0.48 as of Jul. 17, 2026, which is 24% below its 10-year median of 0.63. GuruFocus rates MUS:NGCI with a GF Score™ of 30/100 and a GF Value™ of ر.ع0.09 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 501 Utilities - Regulated companies, National Gas CoOG ranks better than 87.03% on this metric.
National Gas Co SAOG stock PB Ratio (=0.5) is close to 2-year high of 0.55.
The historical rank and industry rank for National Gas CoOG's PB Ratio or its related term are showing as below:
MUS:NGCI'
s PB Ratio Range Over the Past 10 Years
Min: 0.32 Med: 0.63 Max: 2.09
Current: 0.49
During the past 13 years, National Gas CoOG's highest PB Ratio was 2.09. The lowest was 0.32. And the median was 0.63.
MUS:NGCI's PB Ratio is ranked better than 87.03% of 501
companies
in the Utilities - Regulated industry
Industry Median: 1.44
vs MUS:NGCI: 0.49
During the past 12 months, National Gas CoOG's average Book Value Per Share Growth Rate was -0.90% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -1.00% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -1.70% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 1.10% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of National Gas CoOG was 22.80% per year. The lowest was -4.10% per year. And the median was 5.40% per year.
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.
National Gas CoOG PB Ratio Related Terms
National Gas CoOG PB Ratio Historical Data
* Premium members only.
The historical data trend for National Gas CoOG'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 Utilities - Regulated Gas subindustry, National Gas CoOG'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.
National Gas CoOG PB Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, National Gas CoOG's PB Ratio distribution charts can be found below:
* The bar in red indicates where National Gas CoOG'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.
National Gas CoOG (MUS:NGCI) has a PB Ratio of 0.48 as of Jul. 17, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on National Gas CoOG and its competitors. This is 24% below median its historical median of 0.63. Over the past decade, National Gas CoOG's PB Ratio has ranged from 0.32 to 2.09. According to the industry distribution chart, National Gas CoOG ranks #65 out of 501 companies in the Utilities - Regulated industry, placing it in the top 13%.
Is National Gas CoOG's PB Ratio too high?
National Gas CoOG's current PB Ratio of 0.48 is 24% below median its 10-year median of 0.63. Over the past 10 years, this metric has ranged from a low of 0.32 to a high of 2.09. The Utilities - Regulated industry median PB Ratio is 1.44. National Gas CoOG's value of 0.48 is 66.7% below this industry median. Based on the distribution chart, National Gas CoOG ranks #65 out of 501 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, National Gas CoOG has a GF Score™ of 30/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Gas CoOG's PB Ratio compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, National Gas CoOG ranks #65 out of 501 companies for PB Ratio. This places National Gas CoOG in the top 13% of its industry — outperforming the majority of peers. The industry median PB Ratio is 1.44. National Gas CoOG's value of 0.48 is 66.7% below this benchmark. Historically, National Gas CoOG's own PB Ratio has ranged from 0.32 to 2.09 over the past decade. While the company's 10-year median is 0.63 vs. the industry median of 1.44, National Gas CoOG 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 an Utilities - Regulated company?
The median PB Ratio among Utilities - Regulated companies is 1.44, based on 501 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. National Gas CoOG's current PB Ratio of 0.48 is 66.7% 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 National Gas CoOG and its competitors. For the Utilities - Regulated industry, the median PB Ratio is 1.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Gas CoOG's current PB Ratio is 0.48, which is 24% below median its own 10-year median of 0.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Gas CoOG stock overvalued right now?
Based on GuruFocus' analysis, National Gas CoOG (MUS:NGCI) is currently considered Modestly Overvalued. The stock's GF Value™ is ر.ع0.09, compared to a current price of ر.ع0.11 — trading 17.8% above its estimated fair value. The current PB Ratio is 0.48, which is 24% below median its 10-year median of 0.63 and 66.7% below the Utilities - Regulated industry median of 1.44. National Gas CoOG's overall GF Score™ is 30/100 with 9 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 National Gas CoOG (MUS:NGCI), the current PB Ratio is 0.48 as of Jul. 17, 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 National Gas CoOG (MUS:NGCI) Overvalued in 2026?
Based on GuruFocus' analysis, National Gas CoOG stock appears to be overvalued.
The current stock price of ر.ع0.11 is trading 17.8% above its estimated GF Value™ of ر.ع0.09.
GuruFocus considers National Gas CoOG to be Modestly Overvalued.
Key valuation signals for MUS:NGCI:
PB Ratio: 0.48 (24% below median its 10-year median of 0.63)
GF Value™: ر.ع0.09 vs. price of ر.ع0.11 (17.8% above fair value)
Industry Position: 66.7% below the Utilities - Regulated median (#65 of 501)
No single metric tells the full story. See the MUS:NGCI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Gas Co SAOG operates as a Liquefied Petroleum Gas filling plant. The company is engaged in the marketing, selling, and distribution of LPG. The group's only business segment is the marketing and selling of LPG. It operates a large fleet of tankers to lift bulk LPG from refineries in the Sultanate to its plants where it is bottled into cylinders in safe and controlled conditions. The company has different sizes of tankers to meet customer demand and reduce distribution costs. The company has different departments for project and design which takes care of design, engineering, procurement, installation, commissioning and testing of all projects and post-sale services.
30GF Score
Get the complete analysis for MUS:NGCI
PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MUS:NGCI has been successfully added to your 
