Rio TintoASX:RIO -2.26%78 PB Ratio is 2.95 as of Jun. 25, 2026, which is 20% above its 10-year median of 2.45. GuruFocus rates ASX:RIO with a GF Score™ of 78/100 and a GF Value™ of A$128.12 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 2,358 Metals & Mining companies, Rio Tinto ranks worse than 61.45% 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), Rio Tinto's share price is A$169.99. Rio Tinto's Book Value per Share for the quarter that ended in Dec. 2025 was A$57.61. Hence, Rio Tinto's PB Ratio of today is 2.95.
Warning Sign:
Rio Tinto Ltd stock PB Ratio (=3.06) is close to 3-year high of 3.22.
The historical rank and industry rank for Rio Tinto's PB Ratio or its related term are showing as below:
ASX:RIO'
s PB Ratio Range Over the Past 10 Years
Min: 1.61 Med: 2.45 Max: 3.45
Current: 2.95
During the past 13 years, Rio Tinto's highest PB Ratio was 3.45. The lowest was 1.61. And the median was 2.45.
ASX:RIO's PB Ratio is ranked worse than 61.45% of 2358
companies
in the Metals & Mining industry
Industry Median: 2.27
vs ASX:RIO: 2.95
During the past 12 months, Rio Tinto's average Book Value Per Share Growth Rate was 7.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 7.60% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 7.90% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 7.30% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Rio Tinto was 26.80% per year. The lowest was -2.50% per year. And the median was 7.15% 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.
Rio Tinto PB Ratio Related Terms
Rio Tinto PB Ratio Historical Data
* Premium members only.
The historical data trend for Rio Tinto'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 Other Industrial Metals & Mining subindustry, Rio Tinto'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.
Rio Tinto PB Ratio vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Rio Tinto's PB Ratio distribution charts can be found below:
* The bar in red indicates where Rio Tinto'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.
Rio Tinto'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.
Rio Tinto (ASX:RIO) has a PB Ratio of 2.95 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 Rio Tinto and its competitors. This is 20% above median its historical median of 2.45. Over the past decade, Rio Tinto's PB Ratio has ranged from 1.61 to 3.45. According to the industry distribution chart, Rio Tinto ranks #1449 out of 2358 companies in the Metals & Mining industry, placing it in the top 61.5%.
Is Rio Tinto's PB Ratio too high?
Rio Tinto's current PB Ratio of 2.95 is 20% above median its 10-year median of 2.45. Over the past 10 years, this metric has ranged from a low of 1.61 to a high of 3.45. The Metals & Mining industry median PB Ratio is 2.27. Rio Tinto's value of 2.95 is 30% above this industry median. Based on the distribution chart, Rio Tinto ranks #1449 out of 2358 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Rio Tinto has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Rio Tinto's PB Ratio compare to competitors?
According to the Metals & Mining industry distribution chart, Rio Tinto ranks #1449 out of 2358 companies for PB Ratio. This places Rio Tinto in the lower half of its industry. The industry median PB Ratio is 2.27. Rio Tinto's value of 2.95 is 30% above this benchmark. Historically, Rio Tinto's own PB Ratio has ranged from 1.61 to 3.45 over the past decade. While the company's 10-year median is 2.45 vs. the industry median of 2.27, Rio Tinto 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 Metals & Mining company?
The median PB Ratio among Metals & Mining companies is 2.27, based on 2,358 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. Rio Tinto's current PB Ratio of 2.95 is 30% 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 Rio Tinto and its competitors. For the Metals & Mining industry, the median PB Ratio is 2.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Rio Tinto's current PB Ratio is 2.95, which is 20% above median its own 10-year median of 2.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rio Tinto stock overvalued right now?
Based on GuruFocus' analysis, Rio Tinto (ASX:RIO) is currently considered Significantly Overvalued. The stock's GF Value™ is A$128.12, compared to a current price of A$169.99 — trading 32.7% above its estimated fair value. The current PB Ratio is 2.95, which is 20% above median its 10-year median of 2.45 and 30% above the Metals & Mining industry median of 2.27. Rio Tinto's overall GF Score™ is 78/100 with 10 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 Rio Tinto (ASX:RIO), the current PB Ratio is 2.95 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 Rio Tinto (ASX:RIO) Overvalued in 2026?
Based on GuruFocus' analysis, Rio Tinto stock appears to be overvalued.
The current stock price of A$169.99 is trading 32.7% above its estimated GF Value™ of A$128.12.
GuruFocus considers Rio Tinto to be Significantly Overvalued.
Key valuation signals for ASX:RIO:
PB Ratio: 2.95 (20% above median its 10-year median of 2.45)
GF Value™: A$128.12 vs. price of A$169.99 (32.7% above fair value)
Industry Position: 30% above the Metals & Mining median (#1449 of 2358)
No single metric tells the full story. See the ASX:RIO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Rio Tinto is a global diversified miner. Iron ore is its major commodity, with lesser contributions from copper and aluminum. Lithium, diamonds, gold, and industrial minerals are more minor contributors. The 1995 merger of RTZ and CRA, via a dual-listed structure, created the present-day company. The two operate as a single business entity, with shareholders in each company having equivalent economic and voting rights. Major assets included the Pilbara iron ore operations, a 30% stake in the Escondida copper mine, 66%-ownership of the Oyu Tolgoi copper mine in Mongolia, the Weipa and Gove bauxite mines in Australia, and six hydro-powered aluminum smelters in Canada.
78GF Score
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