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Forth Smart Service PCLBKK:FSMART -2.53%68 PB Ratio is 3.09 as of Jul. 30, 2026, which is 41% below its 10-year median of 5.21. GuruFocus rates BKK:FSMART with a GF Score™ of 68/100 and a GF Value™ of ฿6.73 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 339 Telecommunication Services companies, Forth Smart Service PCL ranks worse than 72.86% on this metric.
The historical rank and industry rank for Forth Smart Service PCL's PB Ratio or its related term are showing as below:
BKK:FSMART'
s PB Ratio Range Over the Past 10 Years
Min: 2.47 Med: 5.21 Max: 15.13
Current: 3.09
During the past 13 years, Forth Smart Service PCL's highest PB Ratio was 15.13. The lowest was 2.47. And the median was 5.21.
BKK:FSMART's PB Ratio is ranked worse than 72.86% of 339
companies
in the Telecommunication Services industry
Industry Median: 1.79
vs BKK:FSMART: 3.09
During the past 12 months, Forth Smart Service PCL's average Book Value Per Share Growth Rate was 30.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 15.60% 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 2.90% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Forth Smart Service PCL was 59.90% per year. The lowest was -4.20% per year. And the median was 4.90% per year.
Back to Basics: PB Ratio
Forth Smart Service PCL (BKK:FSMART) 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 Telecom Services subindustry, Forth Smart Service PCL'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.
Forth Smart Service PCL PB Ratio vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Forth Smart Service PCL's PB Ratio distribution charts can be found below:
* The bar in red indicates where Forth Smart Service PCL'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.
Forth Smart Service PCL (BKK:FSMART) has a PB Ratio of 3.09 as of Jul. 30, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Forth Smart Service PCL and its competitors. This is 41% below median its historical median of 5.21. Over the past decade, Forth Smart Service PCL's PB Ratio has ranged from 2.47 to 15.13. According to the industry distribution chart, Forth Smart Service PCL ranks #247 out of 339 companies in the Telecommunication Services industry, placing it in the top 72.9%.
Is Forth Smart Service PCL's PB Ratio too high?
Forth Smart Service PCL's current PB Ratio of 3.09 is 41% below median its 10-year median of 5.21. Over the past 10 years, this metric has ranged from a low of 2.47 to a high of 15.13. The Telecommunication Services industry median PB Ratio is 1.79. Forth Smart Service PCL's value of 3.09 is 72.6% above this industry median. Based on the distribution chart, Forth Smart Service PCL ranks #247 out of 339 companies in the Telecommunication Services industry, which is below the industry midpoint. Overall, Forth Smart Service PCL has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forth Smart Service PCL's PB Ratio compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Forth Smart Service PCL ranks #247 out of 339 companies for PB Ratio. This places Forth Smart Service PCL in the lower half of its industry. The industry median PB Ratio is 1.79. Forth Smart Service PCL's value of 3.09 is 72.6% above this benchmark. Historically, Forth Smart Service PCL's own PB Ratio has ranged from 2.47 to 15.13 over the past decade. While the company's 10-year median is 5.21 vs. the industry median of 1.79, Forth Smart Service PCL 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 Telecommunication Services company?
The median PB Ratio among Telecommunication Services companies is 1.79, based on 339 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. Forth Smart Service PCL's current PB Ratio of 3.09 is 72.6% 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 Forth Smart Service PCL and its competitors. For the Telecommunication Services industry, the median PB Ratio is 1.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forth Smart Service PCL's current PB Ratio is 3.09, which is 41% below median its own 10-year median of 5.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forth Smart Service PCL stock overvalued right now?
Based on GuruFocus' analysis, Forth Smart Service PCL (BKK:FSMART) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿6.73, compared to a current price of ฿7.70 — trading 14.4% above its estimated fair value. The current PB Ratio is 3.09, which is 41% below median its 10-year median of 5.21 and 72.6% above the Telecommunication Services industry median of 1.79. Forth Smart Service PCL's overall GF Score™ is 68/100 with 3 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 Forth Smart Service PCL (BKK:FSMART), the current PB Ratio is 3.09 as of Jul. 30, 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 Forth Smart Service PCL (BKK:FSMART) Overvalued in 2026?
Based on GuruFocus' analysis, Forth Smart Service PCL stock appears to be overvalued.
The current stock price of ฿7.70 is trading 14.4% above its estimated GF Value™ of ฿6.73.
GuruFocus considers Forth Smart Service PCL to be Modestly Overvalued.
Key valuation signals for BKK:FSMART:
PB Ratio: 3.09 (41% below median its 10-year median of 5.21)
GF Value™: ฿6.73 vs. price of ฿7.70 (14.4% above fair value)
Industry Position: 72.6% above the Telecommunication Services median (#247 of 339)
No single metric tells the full story. See the BKK:FSMART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forth Smart Service PCL is a Thailand-based company engaged in providing prepaid mobile top-up services, money transfer services, and online payment receipt services through electronic top-up machines. The company also provides advertising services through its online top-up machine network. It operates through two reportable segments: Top-up Machine, which provides mobile top-up, payment, and related services through automated machines; and Lending, which provides personal loans and nano finance services. It generates the majority of its revenue from the Top-up machine segment.
68GF Score
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