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Shin Shin Natural Gas CoTPE:9918 -0.23%84 PB Ratio is 2.36 as of Jul. 17, 2026, which is 9% above its 10-year median of 2.16. GuruFocus rates TPE:9918 with a GF Score™ of 84/100 and a GF Value™ of NT$42.91 (Fairly Valued). The stock has 2 warning signs investors should review. Among 501 Utilities - Regulated companies, Shin Shin Natural Gas Co ranks worse than 78.84% on this metric.
The historical rank and industry rank for Shin Shin Natural Gas Co's PB Ratio or its related term are showing as below:
TPE:9918'
s PB Ratio Range Over the Past 10 Years
Min: 1.85 Med: 2.16 Max: 3
Current: 2.36
During the past 13 years, Shin Shin Natural Gas Co's highest PB Ratio was 3.00. The lowest was 1.85. And the median was 2.16.
TPE:9918's PB Ratio is ranked worse than 78.84% of 501
companies
in the Utilities - Regulated industry
Industry Median: 1.44
vs TPE:9918: 2.36
During the past 12 months, Shin Shin Natural Gas Co's average Book Value Per Share Growth Rate was 0.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 3.50% 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 1.70% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Shin Shin Natural Gas Co was 20.10% per year. The lowest was 0.00% per year. And the median was 1.60% per year.
Back to Basics: PB Ratio
Shin Shin Natural Gas Co (TPE:9918) 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.
* 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, Shin Shin Natural Gas Co'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.
Shin Shin Natural Gas Co PB Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Shin Shin Natural Gas Co's PB Ratio distribution charts can be found below:
* The bar in red indicates where Shin Shin Natural Gas Co'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.
Shin Shin Natural Gas Co (TPE:9918) has a PB Ratio of 2.36 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 Shin Shin Natural Gas Co and its competitors. This is near median its historical median of 2.16. Over the past decade, Shin Shin Natural Gas Co's PB Ratio has ranged from 1.85 to 3.00. According to the industry distribution chart, Shin Shin Natural Gas Co ranks #395 out of 501 companies in the Utilities - Regulated industry, placing it in the top 78.8%.
Is Shin Shin Natural Gas Co's PB Ratio too high?
Shin Shin Natural Gas Co's current PB Ratio of 2.36 is near median its 10-year median of 2.16. Over the past 10 years, this metric has ranged from a low of 1.85 to a high of 3.00. The Utilities - Regulated industry median PB Ratio is 1.44. Shin Shin Natural Gas Co's value of 2.36 is 63.9% above this industry median. Based on the distribution chart, Shin Shin Natural Gas Co ranks #395 out of 501 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Shin Shin Natural Gas Co has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Shin Shin Natural Gas Co's PB Ratio compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Shin Shin Natural Gas Co ranks #395 out of 501 companies for PB Ratio. This places Shin Shin Natural Gas Co in the lower half of its industry. The industry median PB Ratio is 1.44. Shin Shin Natural Gas Co's value of 2.36 is 63.9% above this benchmark. Historically, Shin Shin Natural Gas Co's own PB Ratio has ranged from 1.85 to 3.00 over the past decade. While the company's 10-year median is 2.16 vs. the industry median of 1.44, Shin Shin Natural Gas Co 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 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. Shin Shin Natural Gas Co's current PB Ratio of 2.36 is 63.9% 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 Shin Shin Natural Gas Co 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. Shin Shin Natural Gas Co's current PB Ratio is 2.36, which is near median its own 10-year median of 2.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shin Shin Natural Gas Co stock overvalued right now?
Based on GuruFocus' analysis, Shin Shin Natural Gas Co (TPE:9918) is currently considered Fairly Valued. The stock's GF Value™ is NT$42.91, compared to a current price of NT$44.00 — trading 2.5% above its estimated fair value. The current PB Ratio is 2.36, which is near median its 10-year median of 2.16 and 63.9% above the Utilities - Regulated industry median of 1.44. Shin Shin Natural Gas Co's overall GF Score™ is 84/100 with 2 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 Shin Shin Natural Gas Co (TPE:9918), the current PB Ratio is 2.36 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 Shin Shin Natural Gas Co (TPE:9918) Overvalued in 2026?
Based on GuruFocus' analysis, Shin Shin Natural Gas Co stock appears to be overvalued.
The current stock price of NT$44.00 is trading 2.5% above its estimated GF Value™ of NT$42.91.
GuruFocus considers Shin Shin Natural Gas Co to be Fairly Valued.
Key valuation signals for TPE:9918:
PB Ratio: 2.36 (near median its 10-year median of 2.16)
GF Value™: NT$42.91 vs. price of NT$44.00 (2.5% above fair value)
Industry Position: 63.9% above the Utilities - Regulated median (#395 of 501)
No single metric tells the full story. See the TPE:9918 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shin Shin Natural Gas Co Ltd is a Taiwan-based company engaged in the transmission of combustible natural gas by pipeline for non-industrial fuel supply, the installation of gas pipeline construction, and other related natural gas industry and affiliated businesses. The company mainly operates in two segments which are the Gas sales segment mainly responsible for the supply of natural gas to customers through pipelines and the Installation segment mainly responsible for the installation of natural gas transmission pipelines and gas safety equipment.
84GF Score
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