Mercury NZMGHTF +8.44%78 PB Ratio is 2.23 as of Jun. 25, 2026, which is 23% above its 10-year median of 1.81. GuruFocus rates MGHTF with a GF Score™ of 78/100 and a GF Value™ of $4.06 (Fairly Valued). The stock has 11 warning signs investors should review. Among 430 Utilities - Independent Power Producers companies, Mercury NZ ranks worse than 65.12% 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 (2026-06-25), Mercury NZ's share price is $4.37. Mercury NZ's Book Value per Share for the quarter that ended in Dec. 2025 was $1.96. Hence, Mercury NZ's PB Ratio of today is 2.23.
The historical rank and industry rank for Mercury NZ's PB Ratio or its related term are showing as below:
MGHTF'
s PB Ratio Range Over the Past 10 Years
Min: 1.2 Med: 1.81 Max: 2.76
Current: 2.06
During the past 13 years, Mercury NZ's highest PB Ratio was 2.76. The lowest was 1.20. And the median was 1.81.
During the past 12 months, Mercury NZ's average Book Value Per Share Growth Rate was 1.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 0.90% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 5.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 5.00% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Mercury NZ was 9.30% per year. The lowest was -0.50% per year. And the median was 3.75% 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.
Mercury NZ PB Ratio Related Terms
Mercury NZ PB Ratio Historical Data
* Premium members only.
The historical data trend for Mercury NZ'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 - Renewable subindustry, Mercury NZ'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.
Mercury NZ PB Ratio vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Mercury NZ's PB Ratio distribution charts can be found below:
* The bar in red indicates where Mercury NZ'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.
Mercury NZ'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.
Mercury NZ (MGHTF) has a PB Ratio of 2.23 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Mercury NZ and its competitors. This is 23% above median its historical median of 1.81. Over the past decade, Mercury NZ's PB Ratio has ranged from 1.20 to 2.76. According to the industry distribution chart, Mercury NZ ranks #280 out of 430 companies in the Utilities - Independent Power Producers industry, placing it in the top 65.1%.
Is Mercury NZ's PB Ratio too high?
Mercury NZ's current PB Ratio of 2.23 is 23% above median its 10-year median of 1.81. Over the past 10 years, this metric has ranged from a low of 1.20 to a high of 2.76. The Utilities - Independent Power Producers industry median PB Ratio is 1.36. Mercury NZ's value of 2.23 is 64% above this industry median. Based on the distribution chart, Mercury NZ ranks #280 out of 430 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Mercury NZ has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mercury NZ's PB Ratio compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Mercury NZ ranks #280 out of 430 companies for PB Ratio. This places Mercury NZ in the lower half of its industry. The industry median PB Ratio is 1.36. Mercury NZ's value of 2.23 is 64% above this benchmark. Historically, Mercury NZ's own PB Ratio has ranged from 1.20 to 2.76 over the past decade. While the company's 10-year median is 1.81 vs. the industry median of 1.36, Mercury NZ 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 Utilities - Independent Power Producers company?
The median PB Ratio among Utilities - Independent Power Producers companies is 1.36, based on 430 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. Mercury NZ's current PB Ratio of 2.23 is 64% 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 Mercury NZ and its competitors. For the Utilities - Independent Power Producers industry, the median PB Ratio is 1.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mercury NZ's current PB Ratio is 2.23, which is 23% above median its own 10-year median of 1.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mercury NZ stock overvalued right now?
Based on GuruFocus' analysis, Mercury NZ (MGHTF) is currently considered Fairly Valued. The stock's GF Value™ is $4.06, compared to a current price of $4.37 — trading 7.6% above its estimated fair value. The current PB Ratio is 2.23, which is 23% above median its 10-year median of 1.81 and 64% above the Utilities - Independent Power Producers industry median of 1.36. Mercury NZ's overall GF Score™ is 78/100 with 11 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 Mercury NZ (MGHTF), the current PB Ratio is 2.23 as of Jun. 25, 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 Mercury NZ (MGHTF) Overvalued in 2026?
Based on GuruFocus' analysis, Mercury NZ stock appears to be overvalued.
The current stock price of $4.37 is trading 7.6% above its estimated GF Value™ of $4.06.
GuruFocus considers Mercury NZ to be Fairly Valued.
Key valuation signals for MGHTF:
PB Ratio: 2.23 (23% above median its 10-year median of 1.81)
GF Value™: $4.06 vs. price of $4.37 (7.6% above fair value)
Industry Position: 64% above the Utilities - Independent Power Producers median (#280 of 430)
No single metric tells the full story. See the MGHTF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mercury NZ (formerly Mighty River Power) generates more than 15% of New Zealand's electricity and is one of the four major electricity generators and suppliers in the country. All electricity is generated from renewable sources, which makes it one of the lowest-cost providers of electricity. The company operates nine hydro stations and five geothermal power plants in the North Island and some wind farms. Mercury sells electricity to residential and commercial customers and has the largest share of the key Auckland market.
78GF Score
Get the complete analysis for MGHTF
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
MGHTF has been successfully added to your 
