American Financial GroupAFG -1.55%80 PB Ratio is 2.42 as of Jun. 25, 2026, which is 23% above its 10-year median of 1.97. GuruFocus rates AFG with a GF Score™ of 80/100 and a GF Value™ of $127.30 (Fairly Valued). The stock has 4 warning signs investors should review. Among 497 Insurance companies, American Financial Group ranks worse than 78.27% on this metric.
The historical rank and industry rank for American Financial Group's PB Ratio or its related term are showing as below:
AFG'
s PB Ratio Range Over the Past 10 Years
Min: 0.74 Med: 1.97 Max: 3.16
Current: 2.42
During the past 13 years, American Financial Group's highest PB Ratio was 3.16. The lowest was 0.74. And the median was 1.97.
AFG's PB Ratio is ranked worse than 78.27% of 497
companies
in the Insurance industry
Industry Median: 1.38
vs AFG: 2.42
During the past 12 months, American Financial Group's average Book Value Per Share Growth Rate was 7.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 6.70% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -5.00% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -0.70% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of American Financial Group was 27.90% per year. The lowest was -13.50% per year. And the median was 5.20% per year.
Back to Basics: PB Ratio
American Financial Group (NYSE:AFG) 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 Insurance - Property & Casualty subindustry, American Financial Group'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.
American Financial Group PB Ratio vs Insurance Industry
For the Insurance industry and Financial Services sector, American Financial Group's PB Ratio distribution charts can be found below:
* The bar in red indicates where American Financial Group'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.
American Financial Group (AFG) has a PB Ratio of 2.42 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 American Financial Group and its competitors. This is 23% above median its historical median of 1.97. Over the past decade, American Financial Group's PB Ratio has ranged from 0.74 to 3.16. According to the industry distribution chart, American Financial Group ranks #389 out of 497 companies in the Insurance industry, placing it in the top 78.3%.
Is American Financial Group's PB Ratio too high?
American Financial Group's current PB Ratio of 2.42 is 23% above median its 10-year median of 1.97. Over the past 10 years, this metric has ranged from a low of 0.74 to a high of 3.16. The Insurance industry median PB Ratio is 1.38. American Financial Group's value of 2.42 is 75.4% above this industry median. Based on the distribution chart, American Financial Group ranks #389 out of 497 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, American Financial Group has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does American Financial Group's PB Ratio compare to CNA and AIZ?
According to the Insurance industry distribution chart, American Financial Group ranks #389 out of 497 companies for PB Ratio. This places American Financial Group in the lower half of its industry. The industry median PB Ratio is 1.38. American Financial Group's value of 2.42 is 75.4% above this benchmark. Historically, American Financial Group's own PB Ratio has ranged from 0.74 to 3.16 over the past decade. While the company's 10-year median is 1.97 vs. the industry median of 1.38, American Financial Group 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 Insurance company?
The median PB Ratio among Insurance companies is 1.38, based on 497 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. American Financial Group's current PB Ratio of 2.42 is 75.4% 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 American Financial Group and its competitors. For the Insurance industry, the median PB Ratio is 1.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Financial Group's current PB Ratio is 2.42, which is 23% above median its own 10-year median of 1.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is American Financial Group stock overvalued right now?
Based on GuruFocus' analysis, American Financial Group (AFG) is currently considered Fairly Valued. The stock's GF Value™ is $127.30, compared to a current price of $136.09 — trading 6.9% above its estimated fair value. The current PB Ratio is 2.42, which is 23% above median its 10-year median of 1.97 and 75.4% above the Insurance industry median of 1.38. American Financial Group's overall GF Score™ is 80/100 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 American Financial Group (AFG), the current PB Ratio is 2.42 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 American Financial Group (AFG) Overvalued in 2026?
Based on GuruFocus' analysis, American Financial Group stock appears to be overvalued.
The current stock price of $136.09 is trading 6.9% above its estimated GF Value™ of $127.30.
GuruFocus considers American Financial Group to be Fairly Valued.
Key valuation signals for AFG:
PB Ratio: 2.42 (23% above median its 10-year median of 1.97)
GF Value™: $127.30 vs. price of $136.09 (6.9% above fair value)
Industry Position: 75.4% above the Insurance median (#389 of 497)
No single metric tells the full story. See the AFG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
American Financial Group Inc is an insurance holding company. Through its subsidiaries, it is engaged in the property and casualty insurance business, focusing on specialized commercial products for businesses. The group operates through two segments: Property and Casualty Insurance, which generates maximum revenue, and Other. The Property and Casualty Insurance segment is further divided into different sub-segments, such as Property and transportation, Specialty casualty, and Specialty financial. These sub-segments offer insurance coverage for vehicles and commercial property, customized programs for small to mid-sized businesses, workers' compensation insurance, risk management insurance programs for lending and leasing institutions, trade credit insurance, and other insurance products.
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