A2A SpAFRA:EAM +0.66%77 PB Ratio is 1.18 as of Jun. 26, 2026, which is 23% below its 10-year median of 1.54. GuruFocus rates FRA:EAM with a GF Score™ of 77/100 and a GF Value™ of €2.40 (Fairly Valued). The stock has 2 warning signs investors should review. Among 502 Utilities - Regulated companies, A2A SpA ranks better than 60.56% 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), A2A SpA's share price is €2.30. A2A SpA's Book Value per Share for the quarter that ended in Mar. 2026 was €1.96. Hence, A2A SpA's PB Ratio of today is 1.18.
Good Sign:
A2A SpA stock PB Ratio (=1.18) is close to 10-year low of 1.09.
The historical rank and industry rank for A2A SpA's PB Ratio or its related term are showing as below:
FRA:EAM'
s PB Ratio Range Over the Past 10 Years
Min: 1.09 Med: 1.54 Max: 2.19
Current: 1.18
During the past 13 years, A2A SpA's highest PB Ratio was 2.19. The lowest was 1.09. And the median was 1.54.
FRA:EAM's PB Ratio is ranked better than 60.56% of 502
companies
in the Utilities - Regulated industry
Industry Median: 1.42
vs FRA:EAM: 1.18
During the past 12 months, A2A SpA's average Book Value Per Share Growth Rate was 7.50% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 14.90% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 11.20% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 8.00% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of A2A SpA was 14.90% per year. The lowest was -27.20% per year. And the median was 5.70% 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.
A2A SpA PB Ratio Related Terms
A2A SpA PB Ratio Historical Data
* Premium members only.
The historical data trend for A2A SpA'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 Utilities - Diversified subindustry, A2A SpA'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.
A2A SpA PB Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, A2A SpA's PB Ratio distribution charts can be found below:
* The bar in red indicates where A2A SpA'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.
A2A SpA'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.
A2A SpA (FRA:EAM) has a PB Ratio of 1.18 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 A2A SpA and its competitors. This is 23% below median its historical median of 1.54. Over the past decade, A2A SpA's PB Ratio has ranged from 1.09 to 2.19. According to the industry distribution chart, A2A SpA ranks #198 out of 502 companies in the Utilities - Regulated industry, placing it in the top 39.4%.
Is A2A SpA's PB Ratio too high?
A2A SpA's current PB Ratio of 1.18 is 23% below median its 10-year median of 1.54. Over the past 10 years, this metric has ranged from a low of 1.09 to a high of 2.19. The Utilities - Regulated industry median PB Ratio is 1.42. A2A SpA's value of 1.18 is 16.9% below this industry median. Based on the distribution chart, A2A SpA ranks #198 out of 502 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, A2A SpA has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does A2A SpA's PB Ratio compare to SRE?
According to the Utilities - Regulated industry distribution chart, A2A SpA ranks #198 out of 502 companies for PB Ratio. This puts A2A SpA in the upper half of its industry. The industry median PB Ratio is 1.42. A2A SpA's value of 1.18 is 16.9% below this benchmark. Historically, A2A SpA's own PB Ratio has ranged from 1.09 to 2.19 over the past decade. While the company's 10-year median is 1.54 vs. the industry median of 1.42, A2A SpA has consistently been below 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 an Utilities - Regulated company?
The median PB Ratio among Utilities - Regulated companies is 1.42, based on 502 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. A2A SpA's current PB Ratio of 1.18 is 16.9% below 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 A2A SpA and its competitors. For the Utilities - Regulated industry, the median PB Ratio is 1.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. A2A SpA's current PB Ratio is 1.18, which is 23% below median its own 10-year median of 1.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is A2A SpA stock overvalued right now?
Based on GuruFocus' analysis, A2A SpA (FRA:EAM) is currently considered Fairly Valued. The stock's GF Value™ is €2.40, compared to a current price of €2.30 — trading 4.2% below its estimated fair value. The current PB Ratio is 1.18, which is 23% below median its 10-year median of 1.54 and 16.9% below the Utilities - Regulated industry median of 1.42. A2A SpA's overall GF Score™ is 77/100 with 2 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 A2A SpA (FRA:EAM), the current PB Ratio is 1.18 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 A2A SpA (FRA:EAM) Overvalued in 2026?
Based on GuruFocus' analysis, A2A SpA stock appears to be undervalued.
The current stock price of €2.30 is trading 4.2% below its estimated GF Value™ of €2.40.
GuruFocus considers A2A SpA to be Fairly Valued.
Key valuation signals for FRA:EAM:
PB Ratio: 1.18 (23% below median its 10-year median of 1.54)
GF Value™: €2.40 vs. price of €2.30 (4.2% below fair value)
Industry Position: 16.9% below the Utilities - Regulated median (#198 of 502)
No single metric tells the full story. See the FRA:EAM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
A2A SpA together with its subsidiaries is engaged in the production, sale, and distribution of electricity; sale and distribution of gas; production, distribution, and sale of heat through district heating networks, technical consultancy relating to energy efficiency certificates, waste management (from collection and sweeping to disposal) and the construction and management of integrated waste disposal plants and systems, also making these available for other operators, and integrated water cycle management.
77GF Score
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