Bharat PetroleumNSE:BPCL 82 PB Ratio is 1.31 as of Jul. 07, 2026, which is 22% below its 10-year median of 1.67. GuruFocus rates NSE:BPCL with a GF Score™ of 82/100 and a GF Value™ of ₹327.64 (Fairly Valued). The stock has 4 warning signs investors should review. Among 927 Oil & Gas companies, Bharat Petroleum ranks better than 54.05% 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 (2026-07-07), Bharat Petroleum's share price is ₹308.15. Bharat Petroleum's Book Value per Share for the quarter that ended in Mar. 2026 was ₹234.45. Hence, Bharat Petroleum's PB Ratio of today is 1.31.
Good Sign:
Bharat Petroleum Corp Ltd stock PB Ratio (=1.31) is close to 2-year low of 1.19.
The historical rank and industry rank for Bharat Petroleum's PB Ratio or its related term are showing as below:
NSE:BPCL'
s PB Ratio Range Over the Past 10 Years
Min: 1 Med: 1.67 Max: 2.81
Current: 1.31
During the past 13 years, Bharat Petroleum's highest PB Ratio was 2.81. The lowest was 1.00. And the median was 1.67.
NSE:BPCL's PB Ratio is ranked better than 54.05% of 927
companies
in the Oil & Gas industry
Industry Median: 1.39
vs NSE:BPCL: 1.31
During the past 12 months, Bharat Petroleum's average Book Value Per Share Growth Rate was 23.10% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 23.10% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 15.00% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 13.00% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Bharat Petroleum was 23.10% per year. The lowest was 3.70% per year. And the median was 12.30% 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 Petroleum PB Ratio Related Terms
Bharat Petroleum PB Ratio Historical Data
* Premium members only.
The historical data trend for Bharat Petroleum'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 Oil & Gas Refining & Marketing subindustry, Bharat Petroleum'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 Petroleum PB Ratio vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Bharat Petroleum's PB Ratio distribution charts can be found below:
* The bar in red indicates where Bharat Petroleum'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.
* 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 Petroleum (NSE:BPCL) has a PB Ratio of 1.31 as of Jul. 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 Petroleum and its competitors. This is 22% below median its historical median of 1.67. Over the past decade, Bharat Petroleum's PB Ratio has ranged from 1.00 to 2.81. According to the industry distribution chart, Bharat Petroleum ranks #426 out of 927 companies in the Oil & Gas industry, placing it in the top 46%.
Is Bharat Petroleum's PB Ratio too high?
Bharat Petroleum's current PB Ratio of 1.31 is 22% below median its 10-year median of 1.67. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 2.81. The Oil & Gas industry median PB Ratio is 1.39. Bharat Petroleum's value of 1.31 is 5.8% below this industry median. Based on the distribution chart, Bharat Petroleum ranks #426 out of 927 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Bharat Petroleum has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Bharat Petroleum's PB Ratio compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Bharat Petroleum ranks #426 out of 927 companies for PB Ratio. This puts Bharat Petroleum in the upper half of its industry. The industry median PB Ratio is 1.39. Bharat Petroleum's value of 1.31 is 5.8% below this benchmark. Historically, Bharat Petroleum's own PB Ratio has ranged from 1.00 to 2.81 over the past decade. While the company's 10-year median is 1.67 vs. the industry median of 1.39, Bharat Petroleum 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 Oil & Gas company?
The median PB Ratio among Oil & Gas companies is 1.39, based on 927 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 Petroleum's current PB Ratio of 1.31 is 5.8% 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 Bharat Petroleum and its competitors. For the Oil & Gas 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. Bharat Petroleum's current PB Ratio is 1.31, which is 22% below median its own 10-year median of 1.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bharat Petroleum stock overvalued right now?
Based on GuruFocus' analysis, Bharat Petroleum (NSE:BPCL) is currently considered Fairly Valued. The stock's GF Value™ is ₹327.64, compared to a current price of ₹308.15 — trading 5.9% below its estimated fair value. The current PB Ratio is 1.31, which is 22% below median its 10-year median of 1.67 and 5.8% below the Oil & Gas industry median of 1.39. Bharat Petroleum's overall GF Score™ is 82/100 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 Bharat Petroleum (NSE:BPCL), the current PB Ratio is 1.31 as of Jul. 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 Petroleum (NSE:BPCL) Overvalued in 2026?
Based on GuruFocus' analysis, Bharat Petroleum stock appears to be undervalued.
The current stock price of ₹308.15 is trading 5.9% below its estimated GF Value™ of ₹327.64.
GuruFocus considers Bharat Petroleum to be Fairly Valued.
Key valuation signals for NSE:BPCL:
PB Ratio: 1.31 (22% below median its 10-year median of 1.67)
GF Value™: ₹327.64 vs. price of ₹308.15 (5.9% below fair value)
Industry Position: 5.8% below the Oil & Gas median (#426 of 927)
No single metric tells the full story. See the NSE:BPCL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bharat Petroleum Corp Ltd operates several refineries in India, while also marketing and distributing petroleum by-products. Operations are divided into the following reportable segments: Downstream Petroleum, and Exploration and Production of Hydrocarbons. Downstream Petroleum operations which generate the majority of its revenue, include the refineries that produce liquefied petroleum gas, aromatics, kerosene, fuel oil, furnace oil, and bitumen. Bharat's petroleum by-products are often commanded by consumers in aviation, autos, maritime, and many other industrial segments. The Downstream Petroleum operations also include the network of retail service stations across India. Geographically, the company derives a majority of its revenue from India and the rest from other countries.
82GF Score
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