Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
What is Montanaro European Smaller Trust PB Ratio?
Montanaro European Smaller TrustLSE:MTE +0.87%37 PB Ratio is 0.95 as of Jul. 15, 2026, which is 4% below its 10-year median of 0.99. GuruFocus rates LSE:MTE with a GF Score™ of 37/100. The stock has 4 warning signs investors should review. Among 1,600 Asset Management companies, Montanaro European Smaller Trust ranks better than 52.94% on this metric.
LSE:MTE'
s PB Ratio Range Over the Past 10 Years
Min: 0.63 Med: 0.99 Max: 1.76
Current: 0.95
During the past 13 years, Montanaro European Smaller Trust's highest PB Ratio was 1.76. The lowest was 0.63. And the median was 0.99.
LSE:MTE's PB Ratio is ranked better than 52.94% of 1600
companies
in the Asset Management industry
Industry Median: 0.96
vs LSE:MTE: 0.95
During the past 12 months, Montanaro European Smaller Trust's average Book Value Per Share Growth Rate was 10.90% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -1.90% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 7.90% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 12.30% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Montanaro European Smaller Trust was 23.40% per year. The lowest was -10.80% per year. And the median was 10.10% per year.
Back to Basics: PB Ratio
Montanaro European Smaller Trust (LSE:MTE) 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.
Montanaro European Smaller Trust PB Ratio Related Terms
Montanaro European Smaller Trust 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 Asset Management subindustry, Montanaro European Smaller Trust'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.
Montanaro European Smaller Trust PB Ratio vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Montanaro European Smaller Trust's PB Ratio distribution charts can be found below:
* The bar in red indicates where Montanaro European Smaller Trust's PB Ratio falls into.
Montanaro European Smaller Trust 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.
* 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.
Montanaro European Smaller Trust (LSE:MTE) has a PB Ratio of 0.95 as of Jul. 15, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Montanaro European Smaller Trust and its competitors. This is near median its historical median of 0.99. Over the past decade, Montanaro European Smaller Trust's PB Ratio has ranged from 0.63 to 1.76. According to the industry distribution chart, Montanaro European Smaller Trust ranks #753 out of 1600 companies in the Asset Management industry, placing it in the top 47.1%.
Is Montanaro European Smaller Trust's PB Ratio too high?
Montanaro European Smaller Trust's current PB Ratio of 0.95 is near median its 10-year median of 0.99. Over the past 10 years, this metric has ranged from a low of 0.63 to a high of 1.76. The Asset Management industry median PB Ratio is 0.96. Montanaro European Smaller Trust's value of 0.95 is 1% below this industry median. Based on the distribution chart, Montanaro European Smaller Trust ranks #753 out of 1600 companies in the Asset Management industry, which is above the industry midpoint. Overall, Montanaro European Smaller Trust has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Montanaro European Smaller Trust's PB Ratio compare to BLK and BX?
According to the Asset Management industry distribution chart, Montanaro European Smaller Trust ranks #753 out of 1600 companies for PB Ratio. This puts Montanaro European Smaller Trust in the upper half of its industry. The industry median PB Ratio is 0.96. Montanaro European Smaller Trust's value of 0.95 is 1% below this benchmark. Historically, Montanaro European Smaller Trust's own PB Ratio has ranged from 0.63 to 1.76 over the past decade. While the company's 10-year median is 0.99 vs. the industry median of 0.96, Montanaro European Smaller Trust 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 1,600 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. Montanaro European Smaller Trust's current PB Ratio of 0.95 is 1% 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 Montanaro European Smaller Trust 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. Montanaro European Smaller Trust's current PB Ratio is 0.95, which is near median its own 10-year median of 0.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Montanaro European Smaller Trust stock overvalued right now?
Montanaro European Smaller Trust (LSE:MTE) has a current PB Ratio of 0.95. The current PB Ratio is 0.95, which is near median its 10-year median of 0.99 and 1% below the Asset Management industry median of 0.96. Montanaro European Smaller Trust's overall GF Score™ is 37/100 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 Montanaro European Smaller Trust (LSE:MTE), the current PB Ratio is 0.95 as of Jul. 15, 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.
Montanaro European Smaller Trust Business Description
Montanaro European Smaller Companies Trust PLC is an investment trust. The company's investment objective is to achieve capital growth by investing principally in Continental European quoted smaller companies. Its benchmark index is the MSCI Europe SmallCap (ex UK) Index (in sterling terms). It has a presence in Sweden, Germany, Italy, Switzerland, France, Norway, Netherlands, Denmark, Spain, Belgium, Portugal, and Austria. The company invests in Energy, Materials, Industrials, Consumer Discretionary, Consumer Staples, Health Care, Financials, Information Technology, Communication Services, and Property sectors.
37GF Score
Get the complete analysis for LSE:MTE
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:MTE has been successfully added to your 
