ITM PowerLSE:ITM +0.48%77 PB Ratio is 4.12 as of Jul. 07, 2026, which is 24% above its 10-year median of 3.33. GuruFocus rates LSE:ITM with a GF Score™ of 77/100 and a GF Value™ of £1.89 (Possible Value Trap). The stock has 1 warning sign investors should review. Among 2,981 Industrial Products companies, ITM Power ranks worse than 72.22% 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), ITM Power's share price is £1.261. ITM Power's Book Value per Share for the quarter that ended in Oct. 2025 was £0.31. Hence, ITM Power's PB Ratio of today is 4.12.
The historical rank and industry rank for ITM Power's PB Ratio or its related term are showing as below:
LSE:ITM'
s PB Ratio Range Over the Past 10 Years
Min: 0.61 Med: 3.33 Max: 57.8
Current: 4.14
During the past 13 years, ITM Power's highest PB Ratio was 57.80. The lowest was 0.61. And the median was 3.33.
LSE:ITM's PB Ratio is ranked worse than 72.22% of 2981
companies
in the Industrial Products industry
Industry Median: 2.28
vs LSE:ITM: 4.14
During the past 12 months, ITM Power's average Book Value Per Share Growth Rate was -21.50% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -17.30% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 18.40% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 30.60% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of ITM Power was 299.20% per year. The lowest was -33.00% per year. And the median was 15.20% 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.
ITM Power PB Ratio Related Terms
ITM Power PB Ratio Historical Data
* Premium members only.
The historical data trend for ITM Power'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 Specialty Industrial Machinery subindustry, ITM Power'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.
ITM Power PB Ratio vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, ITM Power's PB Ratio distribution charts can be found below:
* The bar in red indicates where ITM Power'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.
ITM Power'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.
ITM Power (LSE:ITM) has a PB Ratio of 4.12 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 ITM Power and its competitors. This is 24% above median its historical median of 3.33. Over the past decade, ITM Power's PB Ratio has ranged from 0.61 to 57.80. According to the industry distribution chart, ITM Power ranks #2153 out of 2981 companies in the Industrial Products industry, placing it in the top 72.2%.
Is ITM Power's PB Ratio too high?
ITM Power's current PB Ratio of 4.12 is 24% above median its 10-year median of 3.33. Over the past 10 years, this metric has ranged from a low of 0.61 to a high of 57.80. The Industrial Products industry median PB Ratio is 2.28. ITM Power's value of 4.12 is 80.7% above this industry median. Based on the distribution chart, ITM Power ranks #2153 out of 2981 companies in the Industrial Products industry, which is below the industry midpoint. Overall, ITM Power has a GF Score™ of 77/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does ITM Power's PB Ratio compare to GEV and ETN?
According to the Industrial Products industry distribution chart, ITM Power ranks #2153 out of 2981 companies for PB Ratio. This places ITM Power in the lower half of its industry. The industry median PB Ratio is 2.28. ITM Power's value of 4.12 is 80.7% above this benchmark. Historically, ITM Power's own PB Ratio has ranged from 0.61 to 57.80 over the past decade. While the company's 10-year median is 3.33 vs. the industry median of 2.28, ITM Power 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 an Industrial Products company?
The median PB Ratio among Industrial Products companies is 2.28, based on 2,981 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. ITM Power's current PB Ratio of 4.12 is 80.7% 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 ITM Power and its competitors. For the Industrial Products industry, the median PB Ratio is 2.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ITM Power's current PB Ratio is 4.12, which is 24% above median its own 10-year median of 3.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ITM Power stock overvalued right now?
Based on GuruFocus' analysis, ITM Power (LSE:ITM) is currently considered Possible Value Trap. The stock's GF Value™ is £1.89, compared to a current price of £1.26 — trading 33.3% below its estimated fair value. The current PB Ratio is 4.12, which is 24% above median its 10-year median of 3.33 and 80.7% above the Industrial Products industry median of 2.28. ITM Power's overall GF Score™ is 77/100 with 1 warning sign 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 ITM Power (LSE:ITM), the current PB Ratio is 4.12 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.
Is ITM Power (LSE:ITM) Overvalued in 2026?
Based on GuruFocus' analysis, ITM Power stock appears to be undervalued.
The current stock price of £1.26 is trading 33.3% below its estimated GF Value™ of £1.89.
GuruFocus considers ITM Power to be Possible Value Trap.
Key valuation signals for LSE:ITM:
PB Ratio: 4.12 (24% above median its 10-year median of 3.33)
GF Value™: £1.89 vs. price of £1.26 (33.3% below fair value)
Industry Position: 80.7% above the Industrial Products median (#2153 of 2981)
No single metric tells the full story. See the LSE:ITM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ITM Power PLC designs and manufactures integrated hydrogen energy systems for energy storage and clean fuel production. The company is also involved in the research and development of scientific and engineering projects; the development and manufacture of prototype products; and the sale of electrolyzer products such as HGas, HFuel, HPac. It offers a range of services including construction, consulting, and other services. Its primary geographic markets are the United Kingdom, the Rest of Europe, Germany, and with maximum revenue from the United Kingdom.
77GF Score
Get the complete analysis for LSE:ITM
PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
LSE:ITM has been successfully added to your 
