Vulcan SteelASX:VSL -0.40%60 PB Ratio is 3.00 as of Jun. 26, 2026, which is 50% below its 10-year median of 5.97. GuruFocus rates ASX:VSL with a GF Score™ of 60/100 and a GF Value™ of A$6.22 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 612 Steel companies, Vulcan Steel ranks worse than 86.6% 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 (2026-06-26), Vulcan Steel's share price is A$4.99. Vulcan Steel's Book Value per Share for the quarter that ended in Dec. 2025 was A$1.67. Hence, Vulcan Steel's PB Ratio of today is 3.00.
Good Sign:
Vulcan Steel Ltd stock PB Ratio (=3) is close to 5-year low of 3.
The historical rank and industry rank for Vulcan Steel's PB Ratio or its related term are showing as below:
ASX:VSL'
s PB Ratio Range Over the Past 10 Years
Min: 2.99 Med: 5.97 Max: 7.12
Current: 2.99
During the past 4 years, Vulcan Steel's highest PB Ratio was 7.12. The lowest was 2.99. And the median was 5.97.
ASX:VSL's PB Ratio is ranked worse than 86.6% of 612
companies
in the Steel industry
Industry Median: 0.965
vs ASX:VSL: 2.99
During the past 12 months, Vulcan Steel's average Book Value Per Share Growth Rate was 44.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -2.20% per year.
During the past 4 years, the highest 3-Year average Book Value Per Share Growth Rate of Vulcan Steel was -2.20% per year. The lowest was -2.20% per year. And the median was -2.20% 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.
Vulcan Steel PB Ratio Related Terms
Vulcan Steel PB Ratio Historical Data
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The historical data trend for Vulcan Steel'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 Steel subindustry, Vulcan Steel'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.
Vulcan Steel PB Ratio vs Steel Industry
For the Steel industry and Basic Materials sector, Vulcan Steel's PB Ratio distribution charts can be found below:
* The bar in red indicates where Vulcan Steel'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.
Vulcan Steel'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.
Vulcan Steel (ASX:VSL) has a PB Ratio of 3.00 as of Jun. 26, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Vulcan Steel and its competitors. This is 50% below median its historical median of 5.97. Over the past decade, Vulcan Steel's PB Ratio has ranged from 2.99 to 7.12. According to the industry distribution chart, Vulcan Steel ranks #530 out of 612 companies in the Steel industry, placing it in the top 86.6%.
Is Vulcan Steel's PB Ratio too high?
Vulcan Steel's current PB Ratio of 3.00 is 50% below median its 10-year median of 5.97. Over the past 10 years, this metric has ranged from a low of 2.99 to a high of 7.12. The Steel industry median PB Ratio is 0.97. Vulcan Steel's value of 3.00 is 210.9% above this industry median. Based on the distribution chart, Vulcan Steel ranks #530 out of 612 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Vulcan Steel has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vulcan Steel's PB Ratio compare to NUE and STLD?
According to the Steel industry distribution chart, Vulcan Steel ranks #530 out of 612 companies for PB Ratio. This places Vulcan Steel in the lower half of its industry. The industry median PB Ratio is 0.97. Vulcan Steel's value of 3.00 is 210.9% above this benchmark. Historically, Vulcan Steel's own PB Ratio has ranged from 2.99 to 7.12 over the past decade. While the company's 10-year median is 5.97 vs. the industry median of 0.97, Vulcan Steel 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 Steel company?
The median PB Ratio among Steel companies is 0.97, based on 612 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. Vulcan Steel's current PB Ratio of 3.00 is 210.9% 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 Vulcan Steel and its competitors. For the Steel industry, the median PB Ratio is 0.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vulcan Steel's current PB Ratio is 3.00, which is 50% below median its own 10-year median of 5.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vulcan Steel stock overvalued right now?
Based on GuruFocus' analysis, Vulcan Steel (ASX:VSL) is currently considered Modestly Undervalued. The stock's GF Value™ is A$6.22, compared to a current price of A$4.99 — trading 19.8% below its estimated fair value. The current PB Ratio is 3.00, which is 50% below median its 10-year median of 5.97 and 210.9% above the Steel industry median of 0.97. Vulcan Steel's overall GF Score™ is 60/100 with 5 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 Vulcan Steel (ASX:VSL), the current PB Ratio is 3.00 as of Jun. 26, 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 Vulcan Steel (ASX:VSL) Overvalued in 2026?
Based on GuruFocus' analysis, Vulcan Steel stock appears to be undervalued.
The current stock price of A$4.99 is trading 19.8% below its estimated GF Value™ of A$6.22.
GuruFocus considers Vulcan Steel to be Modestly Undervalued.
Key valuation signals for ASX:VSL:
PB Ratio: 3.00 (50% below median its 10-year median of 5.97)
GF Value™: A$6.22 vs. price of A$4.99 (19.8% below fair value)
Industry Position: 210.9% above the Steel median (#530 of 612)
No single metric tells the full story. See the ASX:VSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vulcan Steel Ltd is a metals distributor and processor. Its products include Steel, Stainless Steel, Engineering steel, Plate processing, and Coil processing. The company has two operating segments namely, the Steel business across New Zealand and Australia which includes Steel distribution, Plate processing, and Coil processing; and Metals business across New Zealand, which includes Stainless Steel, Engineering Steel, and Aluminium.
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