Itau Unibanco HoldingBSP:ITUB4 +1.78%65 PB Ratio is 2.19 as of Jun. 26, 2026, which is 27% above its 10-year median of 1.73. GuruFocus rates BSP:ITUB4 with a GF Score™ of 65/100 and a GF Value™ of R$30.57 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 1,516 Banks companies, Itau Unibanco Holding ranks worse than 92.22% on this metric.
Itau Unibanco Holding SA stock PB Ratio (=2.32) is close to 10-year high of 2.48.
The historical rank and industry rank for Itau Unibanco Holding's PB Ratio or its related term are showing as below:
BSP:ITUB4'
s PB Ratio Range Over the Past 10 Years
Min: 1.16 Med: 1.73 Max: 2.48
Current: 2.32
During the past 13 years, Itau Unibanco Holding's highest PB Ratio was 2.48. The lowest was 1.16. And the median was 1.73.
BSP:ITUB4's PB Ratio is ranked worse than 92.22% of 1516
companies
in the Banks industry
Industry Median: 1.09
vs BSP:ITUB4: 2.32
During the past 12 months, Itau Unibanco Holding's average Book Value Per Share Growth Rate was 5.10% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 7.10% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 8.60% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 6.40% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Itau Unibanco Holding was 59.30% per year. The lowest was -3.70% per year. And the median was 10.20% per year.
Back to Basics: PB Ratio
Itau Unibanco Holding (BSP:ITUB4) 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.
Itau Unibanco Holding PB Ratio Competitor Comparison
For the Banks - Regional subindustry, Itau Unibanco Holding'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.
Itau Unibanco Holding PB Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Itau Unibanco Holding's PB Ratio distribution charts can be found below:
* The bar in red indicates where Itau Unibanco Holding'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.
Itau Unibanco Holding (BSP:ITUB4) has a PB Ratio of 2.19 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 Itau Unibanco Holding and its competitors. This is 27% above median its historical median of 1.73. Over the past decade, Itau Unibanco Holding's PB Ratio has ranged from 1.16 to 2.48. According to the industry distribution chart, Itau Unibanco Holding ranks #1398 out of 1516 companies in the Banks industry, placing it in the top 92.2%.
Is Itau Unibanco Holding's PB Ratio too high?
Itau Unibanco Holding's current PB Ratio of 2.19 is 27% above median its 10-year median of 1.73. Over the past 10 years, this metric has ranged from a low of 1.16 to a high of 2.48. The Banks industry median PB Ratio is 1.09. Itau Unibanco Holding's value of 2.19 is 100.9% above this industry median. Based on the distribution chart, Itau Unibanco Holding ranks #1398 out of 1516 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Itau Unibanco Holding has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Itau Unibanco Holding's PB Ratio compare to competitors?
According to the Banks industry distribution chart, Itau Unibanco Holding ranks #1398 out of 1516 companies for PB Ratio. This places Itau Unibanco Holding in the lower half of its industry. The industry median PB Ratio is 1.09. Itau Unibanco Holding's value of 2.19 is 100.9% above this benchmark. Historically, Itau Unibanco Holding's own PB Ratio has ranged from 1.16 to 2.48 over the past decade. While the company's 10-year median is 1.73 vs. the industry median of 1.09, Itau Unibanco Holding 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 Banks company?
The median PB Ratio among Banks companies is 1.09, based on 1,516 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. Itau Unibanco Holding's current PB Ratio of 2.19 is 100.9% 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 Itau Unibanco Holding and its competitors. For the Banks industry, the median PB Ratio is 1.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Itau Unibanco Holding's current PB Ratio is 2.19, which is 27% above median its own 10-year median of 1.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Itau Unibanco Holding stock overvalued right now?
Based on GuruFocus' analysis, Itau Unibanco Holding (BSP:ITUB4) is currently considered Significantly Overvalued. The stock's GF Value™ is R$30.57, compared to a current price of R$41.70 — trading 36.4% above its estimated fair value. The current PB Ratio is 2.19, which is 27% above median its 10-year median of 1.73 and 100.9% above the Banks industry median of 1.09. Itau Unibanco Holding's overall GF Score™ is 65/100 with 9 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 Itau Unibanco Holding (BSP:ITUB4), the current PB Ratio is 2.19 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 Itau Unibanco Holding (BSP:ITUB4) Overvalued in 2026?
Based on GuruFocus' analysis, Itau Unibanco Holding stock appears to be overvalued.
The current stock price of R$41.70 is trading 36.4% above its estimated GF Value™ of R$30.57.
GuruFocus considers Itau Unibanco Holding to be Significantly Overvalued.
Key valuation signals for BSP:ITUB4:
PB Ratio: 2.19 (27% above median its 10-year median of 1.73)
GF Value™: R$30.57 vs. price of R$41.70 (36.4% above fair value)
Industry Position: 100.9% above the Banks median (#1398 of 1516)
No single metric tells the full story. See the BSP:ITUB4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Itaú Unibanco is the largest privately held bank in Brazil, the result of the 2008 merger between Banco Itaú and Unibanco. In addition to Brazil, the bank has significant operations in Chile, Colombia, Argentina, Uruguay, and Paraguay. Itaú's commercial and consumer loans account for 35% and 43% of the bank's total loans, respectively, while foreign loans account for 22% of its portfolio as of the end of 2025. The bank also operates the fifth-largest insurer in Brazil and is the second-largest asset manager in the country, giving it broad reach over the Brazilian financial system.
65GF Score
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