NICO HoldingsMSW:NICO -0.06%57 PB Ratio is 5.57 as of Jun. 24, 2026, which is 114% above its 10-year median of 2.60. GuruFocus rates MSW:NICO with a GF Score™ of 57/100 and a GF Value™ of MWK728.26 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 499 Insurance companies, NICO Holdings ranks worse than 93.19% 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 (2026-06-24), NICO Holdings's share price is MWK1599.23. NICO Holdings's Book Value per Share for the quarter that ended in Dec. 2025 was MWK287.34. Hence, NICO Holdings's PB Ratio of today is 5.57.
The historical rank and industry rank for NICO Holdings's PB Ratio or its related term are showing as below:
MSW:NICO'
s PB Ratio Range Over the Past 10 Years
Min: 0.96 Med: 2.6 Max: 6.67
Current: 5.57
During the past 5 years, NICO Holdings's highest PB Ratio was 6.67. The lowest was 0.96. And the median was 2.60.
MSW:NICO's PB Ratio is ranked worse than 93.19% of 499
companies
in the Insurance industry
Industry Median: 1.39
vs MSW:NICO: 5.57
During the past 3 years, the average Book Value Per Share Growth Rate was 83.80% per year.
During the past 5 years, the highest 3-Year average Book Value Per Share Growth Rate of NICO Holdings was 83.80% per year. The lowest was 83.80% per year. And the median was 83.80% 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.
NICO Holdings PB Ratio Related Terms
NICO Holdings PB Ratio Historical Data
* Premium members only.
The historical data trend for NICO Holdings'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.
NICO Holdings PB Ratio Chart
NICO Holdings Annual Data
Trend
Dec20
Dec21
Dec22
Dec24
Dec25
PB Ratio
0.00
1.19
0.96
0.00
6.04
NICO Holdings Semi-Annual Data
Dec20
Dec21
Dec22
Dec24
Dec25
PB Ratio
0.00
1.19
0.96
0.00
6.04
MSW:NICO vs BRK.A, AIG, HIG: PB Ratio Comparison
For the Insurance - Diversified subindustry, NICO Holdings'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.
NICO Holdings PB Ratio vs Insurance Industry
For the Insurance industry and Financial Services sector, NICO Holdings's PB Ratio distribution charts can be found below:
* The bar in red indicates where NICO Holdings'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.
NICO Holdings'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.
NICO Holdings (MSW:NICO) has a PB Ratio of 5.57 as of Jun. 24, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on NICO Holdings and its competitors. This is 114% above median its historical median of 2.60. Over the past decade, NICO Holdings' PB Ratio has ranged from 0.96 to 6.67. According to the industry distribution chart, NICO Holdings ranks #465 out of 499 companies in the Insurance industry, placing it in the top 93.2%.
Is NICO Holdings' PB Ratio too high?
NICO Holdings' current PB Ratio of 5.57 is 114% above median its 10-year median of 2.60. Over the past 10 years, this metric has ranged from a low of 0.96 to a high of 6.67. The Insurance industry median PB Ratio is 1.39. NICO Holdings' value of 5.57 is 300.7% above this industry median. Based on the distribution chart, NICO Holdings ranks #465 out of 499 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, NICO Holdings has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NICO Holdings' PB Ratio compare to BRK.A and AIG?
According to the Insurance industry distribution chart, NICO Holdings ranks #465 out of 499 companies for PB Ratio. This places NICO Holdings in the lower half of its industry. The industry median PB Ratio is 1.39. NICO Holdings' value of 5.57 is 300.7% above this benchmark. Historically, NICO Holdings' own PB Ratio has ranged from 0.96 to 6.67 over the past decade. While the company's 10-year median is 2.60 vs. the industry median of 1.39, NICO Holdings 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 Insurance company?
The median PB Ratio among Insurance companies is 1.39, based on 499 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. NICO Holdings's current PB Ratio of 5.57 is 300.7% 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 NICO Holdings and its competitors. For the Insurance industry, the median PB Ratio is 1.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NICO Holdings's current PB Ratio is 5.57, which is 114% above median its own 10-year median of 2.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NICO Holdings stock overvalued right now?
Based on GuruFocus' analysis, NICO Holdings (MSW:NICO) is currently considered Significantly Overvalued. The stock's GF Value™ is MWK728.26, compared to a current price of MWK1,599.23 — trading 119.6% above its estimated fair value. The current PB Ratio is 5.57, which is 114% above median its 10-year median of 2.60 and 300.7% above the Insurance industry median of 1.39. NICO Holdings' overall GF Score™ is 57/100 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 NICO Holdings (MSW:NICO), the current PB Ratio is 5.57 as of Jun. 24, 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 NICO Holdings (MSW:NICO) Overvalued in 2026?
Based on GuruFocus' analysis, NICO Holdings stock appears to be overvalued.
The current stock price of MWK1,599.23 is trading 119.6% above its estimated GF Value™ of MWK728.26.
GuruFocus considers NICO Holdings to be Significantly Overvalued.
Key valuation signals for MSW:NICO:
PB Ratio: 5.57 (114% above median its 10-year median of 2.60)
GF Value™: MWK728.26 vs. price of MWK1,599.23 (119.6% above fair value)
Industry Position: 300.7% above the Insurance median (#465 of 499)
No single metric tells the full story. See the MSW:NICO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NICO Holdings PLC is a Malawi-based financial service company that operates in diversified business. Its segments include Life Insurance and Pension, General Insurance business, Banking business, Investment Holding, Asset Management, and Information Technology. Its general insurance segment offers personal and commercial insurance covering motor vehicle, building, road construction, liability, engineering, professional indemnity, marine hull & cargo, fire, and personal accidents throughout Malawi, Zambia, Tanzania, and Uganda. In contrast, life insurance and pension products including Endowment Assurance are offered in Malawi and Mozambique. The majority of the revenue is earned from the Insurance sector. while its Asset Management and Banking segments only operate in Malawi.
57GF Score
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