Zenith BankNSA:ZENITH +4.71%84 PB Ratio is 0.85 as of Jul. 05, 2026, which is 31% above its 10-year median of 0.65. GuruFocus rates NSA:ZENITH with a GF Score™ of 84/100 and a GF Value™ of ₦60.41 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 1,518 Banks companies, Zenith Bank ranks better than 70.49% 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 (2026-07-05), Zenith Bank's share price is ₦106.75. Zenith Bank's Book Value per Share for the quarter that ended in Mar. 2026 was ₦125.69. Hence, Zenith Bank's PB Ratio of today is 0.85.
The historical rank and industry rank for Zenith Bank's PB Ratio or its related term are showing as below:
NSA:ZENITH'
s PB Ratio Range Over the Past 10 Years
Min: 0.33 Med: 0.65 Max: 1.28
Current: 0.85
During the past 13 years, Zenith Bank's highest PB Ratio was 1.28. The lowest was 0.33. And the median was 0.65.
NSA:ZENITH's PB Ratio is ranked better than 70.49% of 1518
companies
in the Banks industry
Industry Median: 1.1
vs NSA:ZENITH: 0.85
During the past 12 months, Zenith Bank's average Book Value Per Share Growth Rate was 16.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 39.90% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 33.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 20.80% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Zenith Bank was 46.80% per year. The lowest was 2.30% per year. And the median was 11.90% 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.
Zenith Bank PB Ratio Related Terms
Zenith Bank PB Ratio Historical Data
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The historical data trend for Zenith Bank'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 Banks - Regional subindustry, Zenith Bank'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.
Zenith Bank PB Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Zenith Bank's PB Ratio distribution charts can be found below:
* The bar in red indicates where Zenith Bank'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.
Zenith Bank'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.
Zenith Bank (NSA:ZENITH) has a PB Ratio of 0.85 as of Jul. 05, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Zenith Bank and its competitors. This is 31% above median its historical median of 0.65. Over the past decade, Zenith Bank's PB Ratio has ranged from 0.33 to 1.28. According to the industry distribution chart, Zenith Bank ranks #448 out of 1518 companies in the Banks industry, placing it in the top 29.5%.
Is Zenith Bank's PB Ratio too high?
Zenith Bank's current PB Ratio of 0.85 is 31% above median its 10-year median of 0.65. Over the past 10 years, this metric has ranged from a low of 0.33 to a high of 1.28. The Banks industry median PB Ratio is 1.10. Zenith Bank's value of 0.85 is 22.7% below this industry median. Based on the distribution chart, Zenith Bank ranks #448 out of 1518 companies in the Banks industry, which is above the industry midpoint. Overall, Zenith Bank has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Zenith Bank's PB Ratio compare to competitors?
According to the Banks industry distribution chart, Zenith Bank ranks #448 out of 1518 companies for PB Ratio. This puts Zenith Bank in the upper half of its industry. The industry median PB Ratio is 1.10. Zenith Bank's value of 0.85 is 22.7% below this benchmark. Historically, Zenith Bank's own PB Ratio has ranged from 0.33 to 1.28 over the past decade. While the company's 10-year median is 0.65 vs. the industry median of 1.10, Zenith Bank 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 Banks company?
The median PB Ratio among Banks companies is 1.10, based on 1,518 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. Zenith Bank's current PB Ratio of 0.85 is 22.7% 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 Zenith Bank and its competitors. For the Banks industry, the median PB Ratio is 1.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zenith Bank's current PB Ratio is 0.85, which is 31% above median its own 10-year median of 0.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zenith Bank stock overvalued right now?
Based on GuruFocus' analysis, Zenith Bank (NSA:ZENITH) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦60.41, compared to a current price of ₦106.75 — trading 76.7% above its estimated fair value. The current PB Ratio is 0.85, which is 31% above median its 10-year median of 0.65 and 22.7% below the Banks industry median of 1.10. Zenith Bank's overall GF Score™ is 84/100 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 Zenith Bank (NSA:ZENITH), the current PB Ratio is 0.85 as of Jul. 05, 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 Zenith Bank (NSA:ZENITH) Overvalued in 2026?
Based on GuruFocus' analysis, Zenith Bank stock appears to be overvalued.
The current stock price of ₦106.75 is trading 76.7% above its estimated GF Value™ of ₦60.41.
GuruFocus considers Zenith Bank to be Significantly Overvalued.
Key valuation signals for NSA:ZENITH:
PB Ratio: 0.85 (31% above median its 10-year median of 0.65)
GF Value™: ₦60.41 vs. price of ₦106.75 (76.7% above fair value)
Industry Position: 22.7% below the Banks median (#448 of 1518)
No single metric tells the full story. See the NSA:ZENITH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zenith Bank PLC is a Nigeria- based company. Its core business is the provision of banking and other financial services to corporate and individual customers. The bank provides services such as granting of loans and advances, corporate finance and money market activities. It also provides banking and pension custodial services to a diverse group of corporations, financial institutions, investment funds, governments and individuals; provision of investment advisory, financial planning services and investment product offerings; providing brokerage services, financing services and securities lending services to institutional clients, including mutual funds, pension funds and to high-net-worth individuals. Revenue generated by bank consists of interest income, fees and commission received.
84GF Score
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