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.
Asian PaintsNSE:ASIANPAINT +0.53%99 PB Ratio is 12.06 as of Jul. 18, 2026, which is 19% below its 10-year median of 14.94. GuruFocus rates NSE:ASIANPAINT with a GF Score™ of 99/100 and a GF Value™ of ₹2,976.31 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,576 Chemicals companies, Asian Paints ranks worse than 96.32% 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 (2026-07-18), Asian Paints's share price is ₹2689.00. Asian Paints's Book Value per Share for the quarter that ended in Mar. 2026 was ₹222.94. Hence, Asian Paints's PB Ratio of today is 12.06.
The historical rank and industry rank for Asian Paints's PB Ratio or its related term are showing as below:
NSE:ASIANPAINT'
s PB Ratio Range Over the Past 10 Years
Min: 9.73 Med: 14.94 Max: 25.37
Current: 12.06
During the past 13 years, Asian Paints's highest PB Ratio was 25.37. The lowest was 9.73. And the median was 14.94.
NSE:ASIANPAINT's PB Ratio is ranked worse than 96.32% of 1576
companies
in the Chemicals industry
Industry Median: 1.67
vs NSE:ASIANPAINT: 12.06
During the past 12 months, Asian Paints's average Book Value Per Share Growth Rate was 10.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 10.20% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 11.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 13.00% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Asian Paints was 31.70% per year. The lowest was 10.00% per year. And the median was 18.30% per year.
Back to Basics: PB Ratio
Asian Paints (NSE:ASIANPAINT) 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.
Asian Paints PB Ratio Related Terms
Asian Paints PB Ratio Historical Data
* Premium members only.
The historical data trend for Asian Paints'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.
NSE:ASIANPAINT vs LIN, SHW, ECL: PB Ratio Comparison
For the Specialty Chemicals subindustry, Asian Paints'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.
Asian Paints PB Ratio vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Asian Paints's PB Ratio distribution charts can be found below:
* The bar in red indicates where Asian Paints'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.
Asian Paints'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.
Asian Paints (NSE:ASIANPAINT) has a PB Ratio of 12.06 as of Jul. 18, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Asian Paints and its competitors. This is 19% below median its historical median of 14.94. Over the past decade, Asian Paints' PB Ratio has ranged from 9.73 to 25.37. According to the industry distribution chart, Asian Paints ranks #1518 out of 1576 companies in the Chemicals industry, placing it in the top 96.3%.
Is Asian Paints' PB Ratio too high?
Asian Paints' current PB Ratio of 12.06 is 19% below median its 10-year median of 14.94. Over the past 10 years, this metric has ranged from a low of 9.73 to a high of 25.37. The Chemicals industry median PB Ratio is 1.67. Asian Paints' value of 12.06 is 622.2% above this industry median. Based on the distribution chart, Asian Paints ranks #1518 out of 1576 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Asian Paints has a GF Score™ of 99/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Asian Paints' PB Ratio compare to LIN and SHW?
According to the Chemicals industry distribution chart, Asian Paints ranks #1518 out of 1576 companies for PB Ratio. This places Asian Paints in the lower half of its industry. The industry median PB Ratio is 1.67. Asian Paints' value of 12.06 is 622.2% above this benchmark. Historically, Asian Paints' own PB Ratio has ranged from 9.73 to 25.37 over the past decade. While the company's 10-year median is 14.94 vs. the industry median of 1.67, Asian Paints 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 a Chemicals company?
The median PB Ratio among Chemicals companies is 1.67, based on 1,576 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. Asian Paints's current PB Ratio of 12.06 is 622.2% 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 Asian Paints and its competitors. For the Chemicals industry, the median PB Ratio is 1.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asian Paints's current PB Ratio is 12.06, which is 19% below median its own 10-year median of 14.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asian Paints stock overvalued right now?
Based on GuruFocus' analysis, Asian Paints (NSE:ASIANPAINT) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹2,976.31, compared to a current price of ₹2,689.00 — trading 9.7% below its estimated fair value. The current PB Ratio is 12.06, which is 19% below median its 10-year median of 14.94 and 622.2% above the Chemicals industry median of 1.67. Asian Paints' overall GF Score™ is 99/100 with 3 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 Asian Paints (NSE:ASIANPAINT), the current PB Ratio is 12.06 as of Jul. 18, 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 Asian Paints (NSE:ASIANPAINT) Overvalued in 2026?
Based on GuruFocus' analysis, Asian Paints stock appears to be undervalued.
The current stock price of ₹2,689.00 is trading 9.7% below its estimated GF Value™ of ₹2,976.31.
GuruFocus considers Asian Paints to be Modestly Undervalued.
Key valuation signals for NSE:ASIANPAINT:
PB Ratio: 12.06 (19% below median its 10-year median of 14.94)
GF Value™: ₹2,976.31 vs. price of ₹2,689.00 (9.7% below fair value)
Industry Position: 622.2% above the Chemicals median (#1518 of 1576)
No single metric tells the full story. See the NSE:ASIANPAINT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asian Paints Ltd is in the business of colour, decor, design and protection and operates through Decorative, International, Home Decor, and Industrial segments. The Decorative segment offers interior and exterior wall finishes, wood finishes, waterproofing, enamels, adhesives, tools, and undercoats. The Home Decor segment offers modular kitchens and wardrobes, bath fittings and sanitaryware, decorative lightings, uPVC windows and doors, wall coverings, furniture, fabric and furnishings, and rugs. The International segment caters to customers across Asia, the Middle East, Africa and the South Pacific. The Industrial segment provides automotive, general industrial, packaging, marine, industrial protective coatings, and powder coatings. The majority of revenue comes from India.
99GF Score
Get the complete analysis for NSE:ASIANPAINT
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
NSE:ASIANPAINT has been successfully added to your 
