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.
NUW's PB Ratio is ranked better than 50.31% of 1600
companies
in the Asset Management industry
Industry Median: 0.96
vs NUW: 0.96
During the past 12 months, Nuveen AMT-Free Municipal Value Fund's average Book Value Per Share Growth Rate was 2.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 2.10% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -2.60% per year.
During the past 9 years, the highest 3-Year average Book Value Per Share Growth Rate of Nuveen AMT-Free Municipal Value Fund was 2.90% per year. The lowest was -5.60% per year. And the median was -2.35% per year.
Back to Basics: PB Ratio
Nuveen AMT-Free Municipal Value Fund (NYSE:NUW) 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.
Nuveen AMT-Free Municipal Value Fund PB Ratio Related Terms
Nuveen AMT-Free Municipal Value Fund PB Ratio Historical Data
* 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.
Nuveen AMT-Free Municipal Value Fund PB Ratio Chart
For the Asset Management subindustry, Nuveen AMT-Free Municipal Value Fund'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.
Nuveen AMT-Free Municipal Value Fund PB Ratio vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Nuveen AMT-Free Municipal Value Fund's PB Ratio distribution charts can be found below:
* The bar in red indicates where Nuveen AMT-Free Municipal Value Fund's PB Ratio falls into.
Nuveen AMT-Free Municipal Value Fund PB Ratio Calculation
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.
Nuveen AMT-Free Municipal Value Fund (NUW) has a PB Ratio of 0.96 as of Jul. 19, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Nuveen AMT-Free Municipal Value Fund and its competitors. This is near median its historical median of 0.95. Over the past decade, Nuveen AMT-Free Municipal Value Fund's PB Ratio has ranged from 0.75 to 1.14. According to the industry distribution chart, Nuveen AMT-Free Municipal Value Fund ranks #795 out of 1600 companies in the Asset Management industry, placing it in the top 49.7%.
Is Nuveen AMT-Free Municipal Value Fund's PB Ratio too high?
Nuveen AMT-Free Municipal Value Fund's current PB Ratio of 0.96 is near median its 10-year median of 0.95. Over the past 10 years, this metric has ranged from a low of 0.75 to a high of 1.14. The Asset Management industry median PB Ratio is 0.96. Nuveen AMT-Free Municipal Value Fund's value of 0.96 is 0% at this industry median. Based on the distribution chart, Nuveen AMT-Free Municipal Value Fund ranks #795 out of 1600 companies in the Asset Management industry, which is above the industry midpoint. Overall, Nuveen AMT-Free Municipal Value Fund has a GF Score™ of 54/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Nuveen AMT-Free Municipal Value Fund's PB Ratio compare to CPZ and ERC?
According to the Asset Management industry distribution chart, Nuveen AMT-Free Municipal Value Fund ranks #795 out of 1600 companies for PB Ratio. This puts Nuveen AMT-Free Municipal Value Fund in the upper half of its industry. The industry median PB Ratio is 0.96. Nuveen AMT-Free Municipal Value Fund's value of 0.96 is 0% at this benchmark. Historically, Nuveen AMT-Free Municipal Value Fund's own PB Ratio has ranged from 0.75 to 1.14 over the past decade. While the company's 10-year median is 0.95 vs. the industry median of 0.96, Nuveen AMT-Free Municipal Value Fund has consistently been at 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 Asset Management company?
The median PB Ratio among Asset Management companies is 0.96, based on 1,600 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. Nuveen AMT-Free Municipal Value Fund's current PB Ratio of 0.96 is 0% at 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 Nuveen AMT-Free Municipal Value Fund and its competitors. For the Asset Management industry, the median PB Ratio is 0.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nuveen AMT-Free Municipal Value Fund's current PB Ratio is 0.96, which is near median its own 10-year median of 0.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nuveen AMT-Free Municipal Value Fund stock overvalued right now?
Based on GuruFocus' analysis, Nuveen AMT-Free Municipal Value Fund (NUW) is currently considered Possible Value Trap. The stock's GF Value™ is $24.63, compared to a current price of $14.34 — trading 41.8% below its estimated fair value. The current PB Ratio is 0.96, which is near median its 10-year median of 0.95 and 0% at the Asset Management industry median of 0.96. Nuveen AMT-Free Municipal Value Fund's overall GF Score™ is 54/100 with 5 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 Nuveen AMT-Free Municipal Value Fund (NUW), the current PB Ratio is 0.96 as of Jul. 19, 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 Nuveen AMT-Free Municipal Value Fund (NUW) Overvalued in 2026?
Based on GuruFocus' analysis, Nuveen AMT-Free Municipal Value Fund stock appears to be undervalued.
The current stock price of $14.34 is trading 41.8% below its estimated GF Value™ of $24.63.
GuruFocus considers Nuveen AMT-Free Municipal Value Fund to be Possible Value Trap.
Key valuation signals for NUW:
PB Ratio: 0.96 (near median its 10-year median of 0.95)
GF Value™: $24.63 vs. price of $14.34 (41.8% below fair value)
Industry Position: 0% at the Asset Management median (#795 of 1600)
No single metric tells the full story. See the NUW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nuveen AMT-Free Municipal Value Fund Business Description
Nuveen AMT-Free Municipal Value Fund is a diversified closed-end management investment company. The Fund's primary investment objective is to provide current income exempt from regular federal income tax. The Fund's secondary investment objective is to enhance portfolio value and total return.
54GF Score
Get the complete analysis for NUW
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
NUW has been successfully added to your 
