Adani Total GasNSE:ATGL +0.06%93 PB Ratio is 16.27 as of Jun. 26, 2026, which is 20% below its 10-year median of 20.35. GuruFocus rates NSE:ATGL with a GF Score™ of 93/100 and a GF Value™ of ₹843.41 (Modestly Undervalued). The stock has 8 warning signs investors should review. Among 502 Utilities - Regulated companies, Adani Total Gas ranks worse than 99.2% 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 (2026-06-26), Adani Total Gas's share price is ₹719.80. Adani Total Gas's Book Value per Share for the quarter that ended in Mar. 2026 was ₹44.23. Hence, Adani Total Gas's PB Ratio of today is 16.27.
Warning Sign:
Adani Total Gas Ltd stock PB Ratio (=16.47) is close to 1-year high of 17.83.
The historical rank and industry rank for Adani Total Gas's PB Ratio or its related term are showing as below:
NSE:ATGL'
s PB Ratio Range Over the Past 10 Years
Min: 6.75 Med: 20.35 Max: 155.58
Current: 16.31
During the past 12 years, Adani Total Gas's highest PB Ratio was 155.58. The lowest was 6.75. And the median was 20.35.
NSE:ATGL's PB Ratio is ranked worse than 99.2% of 502
companies
in the Utilities - Regulated industry
Industry Median: 1.42
vs NSE:ATGL: 16.31
During the past 12 months, Adani Total Gas's average Book Value Per Share Growth Rate was 15.60% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 18.30% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 20.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 24.50% per year.
During the past 12 years, the highest 3-Year average Book Value Per Share Growth Rate of Adani Total Gas was 30.50% per year. The lowest was 14.10% per year. And the median was 22.80% 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.
Adani Total Gas PB Ratio Related Terms
Adani Total Gas PB Ratio Historical Data
* Premium members only.
The historical data trend for Adani Total Gas'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 - Regulated Gas subindustry, Adani Total Gas'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.
Adani Total Gas PB Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Adani Total Gas's PB Ratio distribution charts can be found below:
* The bar in red indicates where Adani Total Gas'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.
Adani Total Gas'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.
Adani Total Gas (NSE:ATGL) has a PB Ratio of 16.27 as of Jun. 26, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Adani Total Gas and its competitors. This is 20% below median its historical median of 20.35. Over the past decade, Adani Total Gas' PB Ratio has ranged from 6.75 to 155.58. According to the industry distribution chart, Adani Total Gas ranks #498 out of 502 companies in the Utilities - Regulated industry, placing it in the top 99.2%.
Is Adani Total Gas' PB Ratio too high?
Adani Total Gas' current PB Ratio of 16.27 is 20% below median its 10-year median of 20.35. Over the past 10 years, this metric has ranged from a low of 6.75 to a high of 155.58. The Utilities - Regulated industry median PB Ratio is 1.42. Adani Total Gas' value of 16.27 is 1045.8% above this industry median. Based on the distribution chart, Adani Total Gas ranks #498 out of 502 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Adani Total Gas has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Adani Total Gas' PB Ratio compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Adani Total Gas ranks #498 out of 502 companies for PB Ratio. This places Adani Total Gas in the lower half of its industry. The industry median PB Ratio is 1.42. Adani Total Gas' value of 16.27 is 1045.8% above this benchmark. Historically, Adani Total Gas' own PB Ratio has ranged from 6.75 to 155.58 over the past decade. While the company's 10-year median is 20.35 vs. the industry median of 1.42, Adani Total Gas 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 - Regulated company?
The median PB Ratio among Utilities - Regulated companies is 1.42, based on 502 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. Adani Total Gas's current PB Ratio of 16.27 is 1045.8% 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 Adani Total Gas and its competitors. For the Utilities - Regulated industry, the median PB Ratio is 1.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Adani Total Gas's current PB Ratio is 16.27, which is 20% below median its own 10-year median of 20.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adani Total Gas stock overvalued right now?
Based on GuruFocus' analysis, Adani Total Gas (NSE:ATGL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹843.41, compared to a current price of ₹719.80 — trading 14.7% below its estimated fair value. The current PB Ratio is 16.27, which is 20% below median its 10-year median of 20.35 and 1045.8% above the Utilities - Regulated industry median of 1.42. Adani Total Gas' overall GF Score™ is 93/100 with 8 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 Adani Total Gas (NSE:ATGL), the current PB Ratio is 16.27 as of Jun. 26, 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 Adani Total Gas (NSE:ATGL) Overvalued in 2026?
Based on GuruFocus' analysis, Adani Total Gas stock appears to be undervalued.
The current stock price of ₹719.80 is trading 14.7% below its estimated GF Value™ of ₹843.41.
GuruFocus considers Adani Total Gas to be Modestly Undervalued.
Key valuation signals for NSE:ATGL:
PB Ratio: 16.27 (20% below median its 10-year median of 20.35)
GF Value™: ₹843.41 vs. price of ₹719.80 (14.7% below fair value)
Industry Position: 1045.8% above the Utilities - Regulated median (#498 of 502)
No single metric tells the full story. See the NSE:ATGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Adani Total Gas Ltd is engaged in the City Gas Distribution (CGD) business and supplies natural gas to domestic, commercial, industrial, and vehicle users. The company is exploring doing business in bio gas, bio fuel, bio mass, LCNG, HCNG, EV, Hydrogen, manufacturing of various equipment, and provision of value-added services relating to CGD business. It is developing City Gas Distribution (CGD) Networks to supply the Piped Natural Gas (PNG) to the Industrial, Commercial, Domestic (residential), and Compressed Natural Gas (CNG) to the transport sector. Natural Gas is a convenient, reliable, and environmentally friendly fuel that allows consumers to enjoy a high level of safety, convenience, and economic efficiency. The Group has a single operating segment that is the sale of Natural Gas.
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