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Norwegian Block Exchange ASFRA:9Q3 -4.27%51 PB Ratio is 1.37 as of Jul. 29, 2026, which is 10% above its 10-year median of 1.24. GuruFocus rates FRA:9Q3 with a GF Score™ of 51/100 and a GF Value™ of €0.04 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 776 Capital Markets companies, Norwegian Block Exchange AS ranks worse than 55.28% on this metric.
The historical rank and industry rank for Norwegian Block Exchange AS's PB Ratio or its related term are showing as below:
FRA:9Q3'
s PB Ratio Range Over the Past 10 Years
Min: 0.37 Med: 1.24 Max: 8.15
Current: 1.48
During the past 8 years, Norwegian Block Exchange AS's highest PB Ratio was 8.15. The lowest was 0.37. And the median was 1.24.
FRA:9Q3's PB Ratio is ranked worse than 55.28% of 776
companies
in the Capital Markets industry
Industry Median: 1.3
vs FRA:9Q3: 1.48
During the past 12 months, Norwegian Block Exchange AS's average Book Value Per Share Growth Rate was -31.50% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -21.80% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -22.60% per year.
During the past 8 years, the highest 3-Year average Book Value Per Share Growth Rate of Norwegian Block Exchange AS was 15.70% per year. The lowest was -28.80% per year. And the median was -20.95% per year.
Back to Basics: PB Ratio
Norwegian Block Exchange AS (FRA:9Q3) 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.
Norwegian Block Exchange AS PB Ratio Related Terms
Norwegian Block Exchange AS PB Ratio Historical Data
* 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 Capital Markets subindustry, Norwegian Block Exchange AS'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.
Norwegian Block Exchange AS PB Ratio vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Norwegian Block Exchange AS's PB Ratio distribution charts can be found below:
* The bar in red indicates where Norwegian Block Exchange AS'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.
Norwegian Block Exchange AS (FRA:9Q3) has a PB Ratio of 1.37 as of Jul. 29, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Norwegian Block Exchange AS and its competitors. This is 10% above median its historical median of 1.24. Over the past decade, Norwegian Block Exchange AS's PB Ratio has ranged from 0.37 to 8.15. According to the industry distribution chart, Norwegian Block Exchange AS ranks #429 out of 776 companies in the Capital Markets industry, placing it in the top 55.3%.
Is Norwegian Block Exchange AS's PB Ratio too high?
Norwegian Block Exchange AS's current PB Ratio of 1.37 is 10% above median its 10-year median of 1.24. Over the past 10 years, this metric has ranged from a low of 0.37 to a high of 8.15. The Capital Markets industry median PB Ratio is 1.30. Norwegian Block Exchange AS's value of 1.37 is 5.4% above this industry median. Based on the distribution chart, Norwegian Block Exchange AS ranks #429 out of 776 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Norwegian Block Exchange AS has a GF Score™ of 51/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Norwegian Block Exchange AS's PB Ratio compare to MS and GS?
According to the Capital Markets industry distribution chart, Norwegian Block Exchange AS ranks #429 out of 776 companies for PB Ratio. This places Norwegian Block Exchange AS in the lower half of its industry. The industry median PB Ratio is 1.30. Norwegian Block Exchange AS's value of 1.37 is 5.4% above this benchmark. Historically, Norwegian Block Exchange AS's own PB Ratio has ranged from 0.37 to 8.15 over the past decade. While the company's 10-year median is 1.24 vs. the industry median of 1.30, Norwegian Block Exchange AS 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 Capital Markets company?
The median PB Ratio among Capital Markets companies is 1.30, based on 776 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. Norwegian Block Exchange AS's current PB Ratio of 1.37 is 5.4% 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 Norwegian Block Exchange AS and its competitors. For the Capital Markets industry, the median PB Ratio is 1.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norwegian Block Exchange AS's current PB Ratio is 1.37, which is 10% above median its own 10-year median of 1.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Norwegian Block Exchange AS stock overvalued right now?
Based on GuruFocus' analysis, Norwegian Block Exchange AS (FRA:9Q3) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.04, compared to a current price of €0.04 — trading 6.5% above its estimated fair value. The current PB Ratio is 1.37, which is 10% above median its 10-year median of 1.24 and 5.4% above the Capital Markets industry median of 1.30. Norwegian Block Exchange AS's overall GF Score™ is 51/100 with 4 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 Norwegian Block Exchange AS (FRA:9Q3), the current PB Ratio is 1.37 as of Jul. 29, 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 Norwegian Block Exchange AS (FRA:9Q3) Overvalued in 2026?
Based on GuruFocus' analysis, Norwegian Block Exchange AS stock appears to be overvalued.
The current stock price of €0.04 is trading 6.5% above its estimated GF Value™ of €0.04.
GuruFocus considers Norwegian Block Exchange AS to be Significantly Overvalued.
Key valuation signals for FRA:9Q3:
PB Ratio: 1.37 (10% above median its 10-year median of 1.24)
GF Value™: €0.04 vs. price of €0.04 (6.5% above fair value)
Industry Position: 5.4% above the Capital Markets median (#429 of 776)
No single metric tells the full story. See the FRA:9Q3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Norwegian Block Exchange AS is a financial services company that specializes in developing digital asset-based products. It is a cryptocurrency exchange serving the Nordic market, offering secure trading of digital assets, tokenization, custody solutions, and blockchain technology services for retail and institutional clients. NBX provides a compliant trading environment with robust security measures and transparent operations. The company has also issued a credit card with BTC cashback.
51GF Score
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