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InnoCare PharmaSHSE:688428 -7.21%79 PB Ratio is 6.75 as of Aug. 23, 2026, which is 172% above its 10-year median of 2.48. GuruFocus rates SHSE:688428 with a GF Score™ of 79/100 and a GF Value™ of ¥34.11 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 1,215 Biotechnology companies, InnoCare Pharma ranks better than 50.29% 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 (2026-08-23), InnoCare Pharma's share price is ¥29.60. InnoCare Pharma's Book Value per Share for the quarter that ended in Dec. 2025 was ¥4.39. Hence, InnoCare Pharma's PB Ratio of today is 6.75.
The historical rank and industry rank for InnoCare Pharma's PB Ratio or its related term are showing as below:
SHSE:688428'
s PB Ratio Range Over the Past 10 Years
Min: 0.92 Med: 2.48 Max: 10.65
Current: 2.95
During the past 9 years, InnoCare Pharma's highest PB Ratio was 10.65. The lowest was 0.92. And the median was 2.48.
SHSE:688428's PB Ratio is ranked better than 50.29% of 1215
companies
in the Biotechnology industry
Industry Median: 2.96
vs SHSE:688428: 2.95
During the past 12 months, InnoCare Pharma's average Book Value Per Share Growth Rate was 18.90% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 0.20% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 6.50% per year.
During the past 9 years, the highest 3-Year average Book Value Per Share Growth Rate of InnoCare Pharma was 15.80% per year. The lowest was -3.80% per year. And the median was 0.20% 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.
InnoCare Pharma PB Ratio Related Terms
InnoCare Pharma PB Ratio Historical Data
* Premium members only.
The historical data trend for InnoCare Pharma'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.
SHSE:688428 vs VRTX, REGN, RVMD: PB Ratio Comparison
For the Biotechnology subindustry, InnoCare Pharma'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.
InnoCare Pharma PB Ratio vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, InnoCare Pharma's PB Ratio distribution charts can be found below:
* The bar in red indicates where InnoCare Pharma'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.
InnoCare Pharma'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.
InnoCare Pharma (SHSE:688428) has a PB Ratio of 6.75 as of Aug. 23, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on InnoCare Pharma and its competitors. This is 172% above median its historical median of 2.48. Over the past decade, InnoCare Pharma's PB Ratio has ranged from 0.92 to 10.65. According to the industry distribution chart, InnoCare Pharma ranks #604 out of 1215 companies in the Biotechnology industry, placing it in the top 49.7%.
Is InnoCare Pharma's PB Ratio too high?
InnoCare Pharma's current PB Ratio of 6.75 is 172% above median its 10-year median of 2.48. Over the past 10 years, this metric has ranged from a low of 0.92 to a high of 10.65. The Biotechnology industry median PB Ratio is 2.96. InnoCare Pharma's value of 6.75 is 128% above this industry median. Based on the distribution chart, InnoCare Pharma ranks #604 out of 1215 companies in the Biotechnology industry, which is above the industry midpoint. Overall, InnoCare Pharma has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does InnoCare Pharma's PB Ratio compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, InnoCare Pharma ranks #604 out of 1215 companies for PB Ratio. This puts InnoCare Pharma in the upper half of its industry. The industry median PB Ratio is 2.96. InnoCare Pharma's value of 6.75 is 128% above this benchmark. Historically, InnoCare Pharma's own PB Ratio has ranged from 0.92 to 10.65 over the past decade. While the company's 10-year median is 2.48 vs. the industry median of 2.96, InnoCare Pharma 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 a Biotechnology company?
The median PB Ratio among Biotechnology companies is 2.96, based on 1,215 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. InnoCare Pharma's current PB Ratio of 6.75 is 128% 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 InnoCare Pharma and its competitors. For the Biotechnology industry, the median PB Ratio is 2.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. InnoCare Pharma's current PB Ratio is 6.75, which is 172% above median its own 10-year median of 2.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is InnoCare Pharma stock overvalued right now?
Based on GuruFocus' analysis, InnoCare Pharma (SHSE:688428) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥34.11, compared to a current price of ¥29.60 — trading 13.2% below its estimated fair value. The current PB Ratio is 6.75, which is 172% above median its 10-year median of 2.48 and 128% above the Biotechnology industry median of 2.96. InnoCare Pharma's overall GF Score™ is 79/100 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 InnoCare Pharma (SHSE:688428), the current PB Ratio is 6.75 as of Aug. 23, 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 InnoCare Pharma (SHSE:688428) Overvalued in 2026?
Based on GuruFocus' analysis, InnoCare Pharma stock appears to be undervalued.
The current stock price of ¥29.60 is trading 13.2% below its estimated GF Value™ of ¥34.11.
GuruFocus considers InnoCare Pharma to be Modestly Undervalued.
Key valuation signals for SHSE:688428:
PB Ratio: 6.75 (172% above median its 10-year median of 2.48)
GF Value™: ¥34.11 vs. price of ¥29.60 (13.2% below fair value)
Industry Position: 128% above the Biotechnology median (#604 of 1215)
No single metric tells the full story. See the SHSE:688428 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
InnoCare Pharma Ltd is a commercial-stage biopharmaceutical company. It discovers, develops, and commercializes drugs for the treatment of cancer and autoimmune diseases. The company's main product pipeline includes orelabrutinib, ibrutinib, zanubrutinib, tafasitamab, ICP-490, ICP-B02, ICP-248, ICP-192, ICP-723, and ICP-189, among others. Its products are mainly used to treat hematological tumors, solid tumors, and autoimmune diseases. The company is also developing products for the treatment of autoimmune diseases caused by abnormal B-cell or T-cell function.
79GF Score
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