QualitasASX:QAL +5.12%63 PB Ratio is 2.37 as of Jun. 25, 2026, which is 15% above its 10-year median of 2.06. GuruFocus rates ASX:QAL with a GF Score™ of 63/100 and a GF Value™ of A$3.18 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,607 Asset Management companies, Qualitas ranks worse than 86.99% on this metric.
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. As of today (2026-06-25), Qualitas's share price is A$3.08. Qualitas's Book Value per Share for the quarter that ended in Dec. 2025 was A$1.30. Hence, Qualitas's PB Ratio of today is 2.37.
The historical rank and industry rank for Qualitas's PB Ratio or its related term are showing as below:
ASX:QAL'
s PB Ratio Range Over the Past 10 Years
Min: 1.29 Med: 2.06 Max: 2.96
Current: 2.38
During the past 5 years, Qualitas's highest PB Ratio was 2.96. The lowest was 1.29. And the median was 2.06.
ASX:QAL's PB Ratio is ranked worse than 86.99% of 1607
companies
in the Asset Management industry
Industry Median: 0.95
vs ASX:QAL: 2.38
During the past 12 months, Qualitas's average Book Value Per Share Growth Rate was 3.70% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 2.40% per year.
During the past 5 years, the highest 3-Year average Book Value Per Share Growth Rate of Qualitas was 3.10% per year. The lowest was 2.40% per year. And the median was 2.75% per year.
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.
Qualitas PB Ratio Related Terms
Qualitas PB Ratio Historical Data
* Premium members only.
The historical data trend for Qualitas's PB Ratio can be seen below:
* 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 Asset Management subindustry, Qualitas'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.
Qualitas PB Ratio vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Qualitas's PB Ratio distribution charts can be found below:
* The bar in red indicates where Qualitas'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.
Qualitas's PB Ratio for today is calculated as follows:
* 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.
Qualitas (ASX:QAL) has a PB Ratio of 2.37 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 Qualitas and its competitors. This is 15% above median its historical median of 2.06. Over the past decade, Qualitas' PB Ratio has ranged from 1.29 to 2.96. According to the industry distribution chart, Qualitas ranks #1398 out of 1607 companies in the Asset Management industry, placing it in the top 87%.
Is Qualitas' PB Ratio too high?
Qualitas' current PB Ratio of 2.37 is 15% above median its 10-year median of 2.06. Over the past 10 years, this metric has ranged from a low of 1.29 to a high of 2.96. The Asset Management industry median PB Ratio is 0.95. Qualitas' value of 2.37 is 149.5% above this industry median. Based on the distribution chart, Qualitas ranks #1398 out of 1607 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Qualitas has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Qualitas' PB Ratio compare to BLK and BX?
According to the Asset Management industry distribution chart, Qualitas ranks #1398 out of 1607 companies for PB Ratio. This places Qualitas in the lower half of its industry. The industry median PB Ratio is 0.95. Qualitas' value of 2.37 is 149.5% above this benchmark. Historically, Qualitas' own PB Ratio has ranged from 1.29 to 2.96 over the past decade. While the company's 10-year median is 2.06 vs. the industry median of 0.95, Qualitas 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 Asset Management company?
The median PB Ratio among Asset Management companies is 0.95, based on 1,607 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. Qualitas's current PB Ratio of 2.37 is 149.5% 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 Qualitas and its competitors. For the Asset Management industry, the median PB Ratio is 0.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Qualitas's current PB Ratio is 2.37, which is 15% above median its own 10-year median of 2.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Qualitas stock overvalued right now?
Based on GuruFocus' analysis, Qualitas (ASX:QAL) is currently considered Fairly Valued. The stock's GF Value™ is A$3.18, compared to a current price of A$3.08 — trading 3.1% below its estimated fair value. The current PB Ratio is 2.37, which is 15% above median its 10-year median of 2.06 and 149.5% above the Asset Management industry median of 0.95. Qualitas' overall GF Score™ is 63/100 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 Qualitas (ASX:QAL), the current PB Ratio is 2.37 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 Qualitas (ASX:QAL) Overvalued in 2026?
Based on GuruFocus' analysis, Qualitas stock appears to be undervalued.
The current stock price of A$3.08 is trading 3.1% below its estimated GF Value™ of A$3.18.
GuruFocus considers Qualitas to be Fairly Valued.
Key valuation signals for ASX:QAL:
PB Ratio: 2.37 (15% above median its 10-year median of 2.06)
GF Value™: A$3.18 vs. price of A$3.08 (3.1% below fair value)
Industry Position: 149.5% above the Asset Management median (#1398 of 1607)
No single metric tells the full story. See the ASX:QAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Qualitas Ltd is an alternative real estate investment manager focused on private credit and equity across commercial real estate sectors. The Group has identified two operating segments Funds Management and Direct Lending. Maximum revenue is generated from its Funds Management segment which includes all of its core Funds management activities and includes Funds management fees, performance fees, and other fee income. It also includes dividends and distributions from Qualitas' Investment and Direct Lending activities. The Direct Lending segment relates to the interest income and expenses relating to activities undertaken by the company's subsidiaries.
63GF Score
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