HFRO (Highland Opportunities andome Fund) PB Ratio: 0.66 (As of Jul. 07, 2026) — Near Median


HFRO Highland Opportunities and Income Fund HFRO
39 GF Score
Price $7.46
! 4 Warning Signs
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What is Highland Opportunities andome Fund PB Ratio?

Highland Opportunities andome Fund HFRO -0.67% 39 PB Ratio is 0.66 as of Jul. 07, 2026, which is 1% below its 10-year median of 0.67. GuruFocus rates HFRO with a GF Score™ of 39/100. The stock has 4 warning signs investors should review. Among 1,603 Asset Management companies, Highland Opportunities andome Fund ranks better than 82.41% 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 (2026-07-07), Highland Opportunities andome Fund's share price is $7.46. Highland Opportunities andome Fund's Book Value per Share for the quarter that ended in Dec. 2025 was $11.39. Hence, Highland Opportunities andome Fund's PB Ratio of today is 0.66.

Warning Sign:

Highland Opportunities and Income Fund stock PB Ratio (=0.66) is close to 3-year high of 0.66.

The historical rank and industry rank for Highland Opportunities andome Fund's PB Ratio or its related term are showing as below:

HFRO' s PB Ratio Range Over the Past 10 Years
Min: 0.37   Med: 0.67   Max: 1.05
Current: 0.65

During the past 8 years, Highland Opportunities andome Fund's highest PB Ratio was 1.05. The lowest was 0.37. And the median was 0.67.

HFRO's PB Ratio is ranked better than
82.41% of 1603 companies
in the Asset Management industry
Industry Median: 0.96 vs HFRO: 0.65

During the past 12 months, Highland Opportunities andome Fund'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 -6.40% per year. During the past 5 years, the average Book Value Per Share Growth Rate was -3.90% per year.

Back to Basics: PB Ratio


Highland Opportunities andome Fund  (NYSE:HFRO) PB Ratio Explanation

Unlike valuation ratios relative to the earning power such as PE Ratio, PE Ratio without NRI, PS Ratio, Price-to-Operating-Cash-Flow , or Price-to-Free-Cash-Flow, the PB Ratio measures the valuation of the stock relative to the underlying asset of the company.

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.


Highland Opportunities andome Fund PB Ratio Related Terms


Highland Opportunities andome Fund PB Ratio Historical Data

* Premium members only.

The historical data trend for Highland Opportunities andome Fund'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.

Highland Opportunities andome Fund PB Ratio Chart

Highland Opportunities andome Fund Annual Data
Trend Jun18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
PB Ratio
Get a 7-Day Free Trial 0.77 0.74 0.60 0.43 0.53

Highland Opportunities andome Fund Semi-Annual Data
Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.60 0.49 0.43 0.46 0.53

HFRO vs GBAB, ALTI, NCV: PB Ratio Comparison

For the Asset Management subindustry, Highland Opportunities andome Fund'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.


Highland Opportunities andome Fund PB Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Highland Opportunities andome Fund's PB Ratio distribution charts can be found below:

* The bar in red indicates where Highland Opportunities andome Fund's PB Ratio falls into.


HFRO
39GF Score
Highland Opportunities and Income Fund HFRO
PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Highland Opportunities andome Fund PB Ratio Calculation

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.

Highland Opportunities andome Fund's PB Ratio for today is calculated as follows:

PB Ratio=Share Price/Book Value per Share (Q: Dec. 2025)
=7.46/11.387
=0.66

* 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.

Frequently Asked Questions Learn more about PB Ratio →
What does a PB Ratio of 0.66 mean?
Highland Opportunities andome Fund (HFRO) has a PB Ratio of 0.66 as of Jul. 07, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Highland Opportunities andome Fund and its competitors. This is near median its historical median of 0.67. Over the past decade, Highland Opportunities andome Fund's PB Ratio has ranged from 0.37 to 1.05. According to the industry distribution chart, Highland Opportunities andome Fund ranks #282 out of 1603 companies in the Asset Management industry, placing it in the top 17.6%.
Is Highland Opportunities andome Fund's PB Ratio too high?
Highland Opportunities andome Fund's current PB Ratio of 0.66 is near median its 10-year median of 0.67. Over the past 10 years, this metric has ranged from a low of 0.37 to a high of 1.05. The Asset Management industry median PB Ratio is 0.96. Highland Opportunities andome Fund's value of 0.66 is 31.3% below this industry median. Based on the distribution chart, Highland Opportunities andome Fund ranks #282 out of 1603 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Highland Opportunities andome Fund has a GF Score™ of 39/100, reflecting its overall financial health beyond just this single metric.
How does Highland Opportunities andome Fund's PB Ratio compare to GBAB and ALTI?
According to the Asset Management industry distribution chart, Highland Opportunities andome Fund ranks #282 out of 1603 companies for PB Ratio. This places Highland Opportunities andome Fund in the top 18% of its industry — outperforming the majority of peers. The industry median PB Ratio is 0.96. Highland Opportunities andome Fund's value of 0.66 is 31.3% below this benchmark. Historically, Highland Opportunities andome Fund's own PB Ratio has ranged from 0.37 to 1.05 over the past decade. While the company's 10-year median is 0.67 vs. the industry median of 0.96, Highland Opportunities andome Fund 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 Asset Management company?
The median PB Ratio among Asset Management companies is 0.96, based on 1,603 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. Highland Opportunities andome Fund's current PB Ratio of 0.66 is 31.3% 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 Highland Opportunities andome Fund and its competitors. For the Asset Management industry, the median PB Ratio is 0.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Highland Opportunities andome Fund's current PB Ratio is 0.66, which is near median its own 10-year median of 0.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Highland Opportunities andome Fund stock overvalued right now?
Highland Opportunities andome Fund (HFRO) has a current PB Ratio of 0.66. The current PB Ratio is 0.66, which is near median its 10-year median of 0.67 and 31.3% below the Asset Management industry median of 0.96. Highland Opportunities andome Fund's overall GF Score™ is 39/100 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 Highland Opportunities andome Fund (HFRO), the current PB Ratio is 0.66 as of Jul. 07, 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.

Highland Opportunities andome Fund Business Description

Other Exchanges HFROpA.PFD:USA
Address 300 Crescent Court, Suite 700, Dallas, TX, USA, 75201
Highland Opportunities and Income Fund is a non-diversified, closed-end management investment company. Its investment objective is to Income Fund seeks growth of capital along with income. It focuses on making investments in real estate securities, including Reits, secured and unsecured fixed-rate loans and corporate bonds, mezzanine securities, structured products, convertible and preferred securities and equities (public and private), and floating rate securities.
39GF Score

Get the complete analysis for HFRO

PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$7.46
Price