Adaptive BiotechnologiesADPT +4.24%67 PB Ratio is 14.88 as of Jun. 25, 2026, which is 151% above its 10-year median of 5.92. GuruFocus rates ADPT with a GF Score™ of 67/100 and a GF Value™ of $10.06 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 196 Medical Diagnostics & Research companies, Adaptive Biotechnologies ranks worse than 92.35% on this metric.
Adaptive Biotechnologies Corp stock PB Ratio (=14.27) is close to 5-year high of 14.67.
The historical rank and industry rank for Adaptive Biotechnologies's PB Ratio or its related term are showing as below:
ADPT'
s PB Ratio Range Over the Past 10 Years
Min: 1.29 Med: 5.92 Max: 20.29
Current: 14.82
During the past 9 years, Adaptive Biotechnologies's highest PB Ratio was 20.29. The lowest was 1.29. And the median was 5.92.
ADPT's PB Ratio is ranked worse than 92.35% of 196
companies
in the Medical Diagnostics & Research industry
Industry Median: 2.05
vs ADPT: 14.82
During the past 12 months, Adaptive Biotechnologies's average Book Value Per Share Growth Rate was 8.10% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -24.00% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -25.90% per year.
During the past 9 years, the highest 3-Year average Book Value Per Share Growth Rate of Adaptive Biotechnologies was -10.70% per year. The lowest was -31.50% per year. And the median was -25.35% per year.
Back to Basics: PB Ratio
Adaptive Biotechnologies (NAS:ADPT) 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 Diagnostics & Research subindustry, Adaptive Biotechnologies'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.
Adaptive Biotechnologies PB Ratio vs Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Adaptive Biotechnologies's PB Ratio distribution charts can be found below:
* The bar in red indicates where Adaptive Biotechnologies'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.
Adaptive Biotechnologies (ADPT) has a PB Ratio of 14.88 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Adaptive Biotechnologies and its competitors. This is 151% above median its historical median of 5.92. Over the past decade, Adaptive Biotechnologies' PB Ratio has ranged from 1.29 to 20.29. According to the industry distribution chart, Adaptive Biotechnologies ranks #181 out of 196 companies in the Medical Diagnostics & Research industry, placing it in the top 92.3%.
Is Adaptive Biotechnologies' PB Ratio too high?
Adaptive Biotechnologies' current PB Ratio of 14.88 is 151% above median its 10-year median of 5.92. Over the past 10 years, this metric has ranged from a low of 1.29 to a high of 20.29. The Medical Diagnostics & Research industry median PB Ratio is 2.05. Adaptive Biotechnologies' value of 14.88 is 625.9% above this industry median. Based on the distribution chart, Adaptive Biotechnologies ranks #181 out of 196 companies in the Medical Diagnostics & Research industry, which is in the bottom quartile relative to peers. Overall, Adaptive Biotechnologies has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Adaptive Biotechnologies' PB Ratio compare to GRAL and WGS?
According to the Medical Diagnostics & Research industry distribution chart, Adaptive Biotechnologies ranks #181 out of 196 companies for PB Ratio. This places Adaptive Biotechnologies in the lower half of its industry. The industry median PB Ratio is 2.05. Adaptive Biotechnologies' value of 14.88 is 625.9% above this benchmark. Historically, Adaptive Biotechnologies' own PB Ratio has ranged from 1.29 to 20.29 over the past decade. While the company's 10-year median is 5.92 vs. the industry median of 2.05, Adaptive Biotechnologies 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 Medical Diagnostics & Research company?
The median PB Ratio among Medical Diagnostics & Research companies is 2.05, based on 196 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. Adaptive Biotechnologies's current PB Ratio of 14.88 is 625.9% 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 Adaptive Biotechnologies and its competitors. For the Medical Diagnostics & Research industry, the median PB Ratio is 2.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Adaptive Biotechnologies's current PB Ratio is 14.88, which is 151% above median its own 10-year median of 5.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adaptive Biotechnologies stock overvalued right now?
Based on GuruFocus' analysis, Adaptive Biotechnologies (ADPT) is currently considered Significantly Overvalued. The stock's GF Value™ is $10.06, compared to a current price of $20.16 — trading 100.4% above its estimated fair value. The current PB Ratio is 14.88, which is 151% above median its 10-year median of 5.92 and 625.9% above the Medical Diagnostics & Research industry median of 2.05. Adaptive Biotechnologies' overall GF Score™ is 67/100 with 4 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 Adaptive Biotechnologies (ADPT), the current PB Ratio is 14.88 as of Jun. 25, 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 Adaptive Biotechnologies (ADPT) Overvalued in 2026?
Based on GuruFocus' analysis, Adaptive Biotechnologies stock appears to be overvalued.
The current stock price of $20.16 is trading 100.4% above its estimated GF Value™ of $10.06.
GuruFocus considers Adaptive Biotechnologies to be Significantly Overvalued.
Key valuation signals for ADPT:
PB Ratio: 14.88 (151% above median its 10-year median of 5.92)
GF Value™: $10.06 vs. price of $20.16 (100.4% above fair value)
Industry Position: 625.9% above the Medical Diagnostics & Research median (#181 of 196)
No single metric tells the full story. See the ADPT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Adaptive Biotechnologies Corp is a company advancing the field of immune-driven medicine by harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. Its clinical diagnostic product, clonoSEQ, is a test authorized by the FDA for the detection and monitoring of minimal residual disease (MRD) in patients with multiple myeloma (MM), B cell acute lymphoblastic leukemia (ALL) and chronic lymphocytic leukemia (CLL) and is also available as a CLIA-validated laboratory developed test (LDT) for patients with other lymphoid cancers. The company has two operating segments: Minimal Residual Disease and Immune Medicine. The company generates the majority of its revenue from the Minimal Residual Disease segment.
67GF Score
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