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Bharat DynamicsNSE:BDL +4.76%86 PB Ratio is 11.23 as of Aug. 07, 2026, which is 138% above its 10-year median of 4.71. GuruFocus rates NSE:BDL with a GF Score™ of 86/100 and a GF Value™ of ₹1,305.74 (Fairly Valued). The stock has 7 warning signs investors should review. Among 342 Aerospace & Defense companies, Bharat Dynamics ranks worse than 87.72% 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 (2026-08-07), Bharat Dynamics's share price is ₹1299.00. Bharat Dynamics's Book Value per Share for the quarter that ended in Mar. 2026 was ₹115.70. Hence, Bharat Dynamics's PB Ratio of today is 11.23.
Good Sign:
Bharat Dynamics Ltd stock PB Ratio (=10.74) is close to 1-year low of 10.25.
The historical rank and industry rank for Bharat Dynamics's PB Ratio or its related term are showing as below:
NSE:BDL'
s PB Ratio Range Over the Past 10 Years
Min: 1.29 Med: 4.71 Max: 18.43
Current: 11.26
During the past 13 years, Bharat Dynamics's highest PB Ratio was 18.43. The lowest was 1.29. And the median was 4.71.
NSE:BDL's PB Ratio is ranked worse than 87.72% of 342
companies
in the Aerospace & Defense industry
Industry Median: 3.67
vs NSE:BDL: 11.26
During the past 12 months, Bharat Dynamics's average Book Value Per Share Growth Rate was 5.80% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 9.70% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 9.70% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 8.80% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Bharat Dynamics was 20.80% per year. The lowest was 5.80% per year. And the median was 9.80% 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.
Bharat Dynamics PB Ratio Related Terms
Bharat Dynamics PB Ratio Historical Data
* Premium members only.
The historical data trend for Bharat Dynamics'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 Aerospace & Defense subindustry, Bharat Dynamics'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.
Bharat Dynamics PB Ratio vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Bharat Dynamics's PB Ratio distribution charts can be found below:
* The bar in red indicates where Bharat Dynamics'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.
Bharat Dynamics'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.
Bharat Dynamics (NSE:BDL) has a PB Ratio of 11.23 as of Aug. 07, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Bharat Dynamics and its competitors. This is 138% above median its historical median of 4.71. Over the past decade, Bharat Dynamics' PB Ratio has ranged from 1.29 to 18.43. According to the industry distribution chart, Bharat Dynamics ranks #300 out of 342 companies in the Aerospace & Defense industry, placing it in the top 87.7%.
Is Bharat Dynamics' PB Ratio too high?
Bharat Dynamics' current PB Ratio of 11.23 is 138% above median its 10-year median of 4.71. Over the past 10 years, this metric has ranged from a low of 1.29 to a high of 18.43. The Aerospace & Defense industry median PB Ratio is 3.67. Bharat Dynamics' value of 11.23 is 206% above this industry median. Based on the distribution chart, Bharat Dynamics ranks #300 out of 342 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Bharat Dynamics has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Bharat Dynamics' PB Ratio compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Bharat Dynamics ranks #300 out of 342 companies for PB Ratio. This places Bharat Dynamics in the lower half of its industry. The industry median PB Ratio is 3.67. Bharat Dynamics' value of 11.23 is 206% above this benchmark. Historically, Bharat Dynamics' own PB Ratio has ranged from 1.29 to 18.43 over the past decade. While the company's 10-year median is 4.71 vs. the industry median of 3.67, Bharat Dynamics 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 Aerospace & Defense company?
The median PB Ratio among Aerospace & Defense companies is 3.67, based on 342 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. Bharat Dynamics's current PB Ratio of 11.23 is 206% 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 Bharat Dynamics and its competitors. For the Aerospace & Defense industry, the median PB Ratio is 3.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bharat Dynamics's current PB Ratio is 11.23, which is 138% above median its own 10-year median of 4.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bharat Dynamics stock overvalued right now?
Based on GuruFocus' analysis, Bharat Dynamics (NSE:BDL) is currently considered Fairly Valued. The stock's GF Value™ is ₹1,305.74, compared to a current price of ₹1,299.00 — trading 0.5% below its estimated fair value. The current PB Ratio is 11.23, which is 138% above median its 10-year median of 4.71 and 206% above the Aerospace & Defense industry median of 3.67. Bharat Dynamics' overall GF Score™ is 86/100 with 7 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 Bharat Dynamics (NSE:BDL), the current PB Ratio is 11.23 as of Aug. 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 Bharat Dynamics (NSE:BDL) Overvalued in 2026?
Based on GuruFocus' analysis, Bharat Dynamics stock appears to be undervalued.
The current stock price of ₹1,299.00 is trading 0.5% below its estimated GF Value™ of ₹1,305.74.
GuruFocus considers Bharat Dynamics to be Fairly Valued.
Key valuation signals for NSE:BDL:
PB Ratio: 11.23 (138% above median its 10-year median of 4.71)
GF Value™: ₹1,305.74 vs. price of ₹1,299.00 (0.5% below fair value)
Industry Position: 206% above the Aerospace & Defense median (#300 of 342)
No single metric tells the full story. See the NSE:BDL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bharat Dynamics Ltd is engaged in the manufacturing of Missiles and allied Defence equipment. The Company provides the majority of its goods and services to the Indian Armed Forces and the Government of India. Its products comprise Milan-2T ATGM, Helina, Astra Weapon System, FLAME, Anti-Submarine Warfare Suite (ASW SUITE), Astra Weapon Systemothers, and Others.
86GF Score
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