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.
Chang Hwa Commercial Bank Ltd stock PB Ratio (=1.28) is close to 5-year high of 1.28.
The historical rank and industry rank for Chang Hwa Commercial Bank's PB Ratio or its related term are showing as below:
TPE:2801'
s PB Ratio Range Over the Past 10 Years
Min: 0.94 Med: 1.1 Max: 1.47
Current: 1.28
During the past 13 years, Chang Hwa Commercial Bank's highest PB Ratio was 1.47. The lowest was 0.94. And the median was 1.10.
TPE:2801's PB Ratio is ranked worse than 62.76% of 1517
companies
in the Banks industry
Industry Median: 1.11
vs TPE:2801: 1.28
During the past 12 months, Chang Hwa Commercial Bank's average Book Value Per Share Growth Rate was 9.40% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 9.20% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 6.00% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 4.80% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Chang Hwa Commercial Bank was 9.20% per year. The lowest was -8.60% per year. And the median was 6.50% per year.
Back to Basics: PB Ratio
Chang Hwa Commercial Bank (TPE:2801) 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.
Chang Hwa Commercial Bank PB Ratio Related Terms
Chang Hwa Commercial Bank 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.
Chang Hwa Commercial Bank PB Ratio Competitor Comparison
For the Banks - Regional subindustry, Chang Hwa Commercial 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.
Chang Hwa Commercial Bank PB Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Chang Hwa Commercial Bank's PB Ratio distribution charts can be found below:
* The bar in red indicates where Chang Hwa Commercial 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.
* 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.
Chang Hwa Commercial Bank (TPE:2801) has a PB Ratio of 1.28 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 Chang Hwa Commercial Bank and its competitors. This is 16% above median its historical median of 1.10. Over the past decade, Chang Hwa Commercial Bank's PB Ratio has ranged from 0.94 to 1.47. According to the industry distribution chart, Chang Hwa Commercial Bank ranks #952 out of 1517 companies in the Banks industry, placing it in the top 62.8%.
Is Chang Hwa Commercial Bank's PB Ratio too high?
Chang Hwa Commercial Bank's current PB Ratio of 1.28 is 16% above median its 10-year median of 1.10. Over the past 10 years, this metric has ranged from a low of 0.94 to a high of 1.47. The Banks industry median PB Ratio is 1.11. Chang Hwa Commercial Bank's value of 1.28 is 15.3% above this industry median. Based on the distribution chart, Chang Hwa Commercial Bank ranks #952 out of 1517 companies in the Banks industry, which is below the industry midpoint. Overall, Chang Hwa Commercial Bank has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Chang Hwa Commercial Bank's PB Ratio compare to competitors?
According to the Banks industry distribution chart, Chang Hwa Commercial Bank ranks #952 out of 1517 companies for PB Ratio. This places Chang Hwa Commercial Bank in the lower half of its industry. The industry median PB Ratio is 1.11. Chang Hwa Commercial Bank's value of 1.28 is 15.3% above this benchmark. Historically, Chang Hwa Commercial Bank's own PB Ratio has ranged from 0.94 to 1.47 over the past decade. While the company's 10-year median is 1.10 vs. the industry median of 1.11, Chang Hwa Commercial Bank 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 Banks company?
The median PB Ratio among Banks companies is 1.11, based on 1,517 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. Chang Hwa Commercial Bank's current PB Ratio of 1.28 is 15.3% 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 Chang Hwa Commercial Bank and its competitors. For the Banks industry, the median PB Ratio is 1.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chang Hwa Commercial Bank's current PB Ratio is 1.28, which is 16% above median its own 10-year median of 1.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chang Hwa Commercial Bank stock overvalued right now?
Based on GuruFocus' analysis, Chang Hwa Commercial Bank (TPE:2801) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$20.48, compared to a current price of NT$23.95 — trading 16.9% above its estimated fair value. The current PB Ratio is 1.28, which is 16% above median its 10-year median of 1.10 and 15.3% above the Banks industry median of 1.11. Chang Hwa Commercial Bank's overall GF Score™ is 72/100 with 6 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 Chang Hwa Commercial Bank (TPE:2801), the current PB Ratio is 1.28 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.
Is Chang Hwa Commercial Bank (TPE:2801) Overvalued in 2026?
Based on GuruFocus' analysis, Chang Hwa Commercial Bank stock appears to be overvalued.
The current stock price of NT$23.95 is trading 16.9% above its estimated GF Value™ of NT$20.48.
GuruFocus considers Chang Hwa Commercial Bank to be Modestly Overvalued.
Key valuation signals for TPE:2801:
PB Ratio: 1.28 (16% above median its 10-year median of 1.10)
GF Value™: NT$20.48 vs. price of NT$23.95 (16.9% above fair value)
Industry Position: 15.3% above the Banks median (#952 of 1517)
No single metric tells the full story. See the TPE:2801 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chang Hwa Commercial Bank Ltd operates as a bank. It operates in segments namely Loans, Deposits, Financial Instruments and Investments, Wealth Management, Overseas branches and Subsidiaries, and others. It generates a majority of its revenue from the Loan segment. It offers services such as wealth management, personal cards, housing loans, credit loans, personal Internet banking, commercial Internet banking, and others.
72GF Score
Get the complete analysis for TPE:2801
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
TPE:2801 has been successfully added to your 
