Air New ZealandNZSE:AIR -1.11%40 PB Ratio is 0.79 as of Jul. 07, 2026, which is 41% below its 10-year median of 1.34. GuruFocus rates NZSE:AIR with a GF Score™ of 40/100 and a GF Value™ of NZ$0.64 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 964 Transportation companies, Air New Zealand ranks better than 72.2% 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 (2026-07-07), Air New Zealand's share price is NZ$0.445. Air New Zealand's Book Value per Share for the quarter that ended in Dec. 2025 was NZ$0.56. Hence, Air New Zealand's PB Ratio of today is 0.79.
The historical rank and industry rank for Air New Zealand's PB Ratio or its related term are showing as below:
NZSE:AIR'
s PB Ratio Range Over the Past 10 Years
Min: 0.46 Med: 1.34 Max: 2.03
Current: 0.79
During the past 13 years, Air New Zealand's highest PB Ratio was 2.03. The lowest was 0.46. And the median was 1.34.
NZSE:AIR's PB Ratio is ranked better than 72.2% of 964
companies
in the Transportation industry
Industry Median: 1.26
vs NZSE:AIR: 0.79
During the past 12 months, Air New Zealand's average Book Value Per Share Growth Rate was -7.40% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 5.80% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -2.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -8.40% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Air New Zealand was 17.00% per year. The lowest was -62.60% per year. And the median was -1.10% 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.
Air New Zealand PB Ratio Related Terms
Air New Zealand PB Ratio Historical Data
* Premium members only.
The historical data trend for Air New Zealand'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 Airlines subindustry, Air New Zealand'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.
Air New Zealand PB Ratio vs Transportation Industry
For the Transportation industry and Industrials sector, Air New Zealand's PB Ratio distribution charts can be found below:
* The bar in red indicates where Air New Zealand'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.
Air New Zealand'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.
Air New Zealand (NZSE:AIR) has a PB Ratio of 0.79 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 Air New Zealand and its competitors. This is 41% below median its historical median of 1.34. Over the past decade, Air New Zealand's PB Ratio has ranged from 0.46 to 2.03. According to the industry distribution chart, Air New Zealand ranks #268 out of 964 companies in the Transportation industry, placing it in the top 27.8%.
Is Air New Zealand's PB Ratio too high?
Air New Zealand's current PB Ratio of 0.79 is 41% below median its 10-year median of 1.34. Over the past 10 years, this metric has ranged from a low of 0.46 to a high of 2.03. The Transportation industry median PB Ratio is 1.26. Air New Zealand's value of 0.79 is 37.3% below this industry median. Based on the distribution chart, Air New Zealand ranks #268 out of 964 companies in the Transportation industry, which is above the industry midpoint. Overall, Air New Zealand has a GF Score™ of 40/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Air New Zealand's PB Ratio compare to DAL and UAL?
According to the Transportation industry distribution chart, Air New Zealand ranks #268 out of 964 companies for PB Ratio. This puts Air New Zealand in the upper half of its industry. The industry median PB Ratio is 1.26. Air New Zealand's value of 0.79 is 37.3% below this benchmark. Historically, Air New Zealand's own PB Ratio has ranged from 0.46 to 2.03 over the past decade. While the company's 10-year median is 1.34 vs. the industry median of 1.26, Air New Zealand 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 a Transportation company?
The median PB Ratio among Transportation companies is 1.26, based on 964 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. Air New Zealand's current PB Ratio of 0.79 is 37.3% 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 Air New Zealand and its competitors. For the Transportation industry, the median PB Ratio is 1.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air New Zealand's current PB Ratio is 0.79, which is 41% below median its own 10-year median of 1.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Air New Zealand stock overvalued right now?
Based on GuruFocus' analysis, Air New Zealand (NZSE:AIR) is currently considered Possible Value Trap. The stock's GF Value™ is NZ$0.64, compared to a current price of NZ$0.45 — trading 30.5% below its estimated fair value. The current PB Ratio is 0.79, which is 41% below median its 10-year median of 1.34 and 37.3% below the Transportation industry median of 1.26. Air New Zealand's overall GF Score™ is 40/100 with 6 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 Air New Zealand (NZSE:AIR), the current PB Ratio is 0.79 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 Air New Zealand (NZSE:AIR) Overvalued in 2026?
Based on GuruFocus' analysis, Air New Zealand stock appears to be undervalued.
The current stock price of NZ$0.45 is trading 30.5% below its estimated GF Value™ of NZ$0.64.
GuruFocus considers Air New Zealand to be Possible Value Trap.
Key valuation signals for NZSE:AIR:
PB Ratio: 0.79 (41% below median its 10-year median of 1.34)
GF Value™: NZ$0.64 vs. price of NZ$0.45 (30.5% below fair value)
Industry Position: 37.3% below the Transportation median (#268 of 964)
No single metric tells the full story. See the NZSE:AIR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Air New Zealand, majority owned by the New Zealand government, provides air passenger and cargo transport services within New Zealand as well as to and from Australia, the Southwest Pacific, Asia, North America, the United Kingdom, and South America. Air New Zealand also encompasses business units providing engineering and ground handling services. Air New Zealand dominates the local market with around 80% share, although the majority of revenue is derived from international and trans-Tasman activity.
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