TriSalus Life SciencesTLSI +5.71%29 PB Ratio is 18.61 as of Jul. 09, 2026, which is 10% above its 10-year median of 16.99. GuruFocus rates TLSI with a GF Score™ of 29/100 and a GF Value™ of $4.31 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 787 Medical Devices & Instruments companies, TriSalus Life Sciences ranks worse than 96.57% on this metric.
The historical rank and industry rank for TriSalus Life Sciences's PB Ratio or its related term are showing as below:
TLSI'
s PB Ratio Range Over the Past 10 Years
Min: 11.24 Med: 16.99 Max: 27.17
Current: 18.52
During the past 5 years, TriSalus Life Sciences's highest PB Ratio was 27.17. The lowest was 11.24. And the median was 16.99.
TLSI's PB Ratio is ranked worse than 96.57% of 787
companies
in the Medical Devices & Instruments industry
Industry Median: 2.05
vs TLSI: 18.52
During the past 3 years, the average Book Value Per Share Growth Rate was 53.40% per year.
During the past 5 years, the highest 3-Year average Book Value Per Share Growth Rate of TriSalus Life Sciences was 53.40% per year. The lowest was 44.80% per year. And the median was 49.10% per year.
Back to Basics: PB Ratio
TriSalus Life Sciences (NAS:TLSI) PB Ratio Explanation
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.
* 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 Medical Devices subindustry, TriSalus Life Sciences'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.
TriSalus Life Sciences PB Ratio vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, TriSalus Life Sciences's PB Ratio distribution charts can be found below:
* The bar in red indicates where TriSalus Life Sciences'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.
TriSalus Life Sciences (TLSI) has a PB Ratio of 18.61 as of Jul. 09, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on TriSalus Life Sciences and its competitors. This is 10% above median its historical median of 16.99. Over the past decade, TriSalus Life Sciences' PB Ratio has ranged from 11.24 to 27.17. According to the industry distribution chart, TriSalus Life Sciences ranks #760 out of 787 companies in the Medical Devices & Instruments industry, placing it in the top 96.6%.
Is TriSalus Life Sciences' PB Ratio too high?
TriSalus Life Sciences' current PB Ratio of 18.61 is 10% above median its 10-year median of 16.99. Over the past 10 years, this metric has ranged from a low of 11.24 to a high of 27.17. The Medical Devices & Instruments industry median PB Ratio is 2.05. TriSalus Life Sciences' value of 18.61 is 807.8% above this industry median. Based on the distribution chart, TriSalus Life Sciences ranks #760 out of 787 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, TriSalus Life Sciences has a GF Score™ of 29/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TriSalus Life Sciences' PB Ratio compare to TMCI and LAB?
According to the Medical Devices & Instruments industry distribution chart, TriSalus Life Sciences ranks #760 out of 787 companies for PB Ratio. This places TriSalus Life Sciences in the lower half of its industry. The industry median PB Ratio is 2.05. TriSalus Life Sciences' value of 18.61 is 807.8% above this benchmark. Historically, TriSalus Life Sciences' own PB Ratio has ranged from 11.24 to 27.17 over the past decade. While the company's 10-year median is 16.99 vs. the industry median of 2.05, TriSalus Life Sciences 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 Medical Devices & Instruments company?
The median PB Ratio among Medical Devices & Instruments companies is 2.05, based on 787 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. TriSalus Life Sciences's current PB Ratio of 18.61 is 807.8% 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 TriSalus Life Sciences and its competitors. For the Medical Devices & Instruments industry, the median PB Ratio is 2.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TriSalus Life Sciences's current PB Ratio is 18.61, which is 10% above median its own 10-year median of 16.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TriSalus Life Sciences stock overvalued right now?
Based on GuruFocus' analysis, TriSalus Life Sciences (TLSI) is currently considered Modestly Undervalued. The stock's GF Value™ is $4.31, compared to a current price of $3.89 — trading 9.7% below its estimated fair value. The current PB Ratio is 18.61, which is 10% above median its 10-year median of 16.99 and 807.8% above the Medical Devices & Instruments industry median of 2.05. TriSalus Life Sciences' overall GF Score™ is 29/100 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 TriSalus Life Sciences (TLSI), the current PB Ratio is 18.61 as of Jul. 09, 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 TriSalus Life Sciences (TLSI) Overvalued in 2026?
Based on GuruFocus' analysis, TriSalus Life Sciences stock appears to be undervalued.
The current stock price of $3.89 is trading 9.7% below its estimated GF Value™ of $4.31.
GuruFocus considers TriSalus Life Sciences to be Modestly Undervalued.
Key valuation signals for TLSI:
PB Ratio: 18.61 (10% above median its 10-year median of 16.99)
GF Value™: $4.31 vs. price of $3.89 (9.7% below fair value)
Industry Position: 807.8% above the Medical Devices & Instruments median (#760 of 787)
No single metric tells the full story. See the TLSI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TriSalus Life Sciences Inc is an oncology-focused medical technology business integrating its delivery technology with standard-of-care therapies and its investigational immunotherapeutic, nelitolimod, a class C Toll-like receptor 9 (TRL9) agonist, for patients with solid tumors. The company developed Pressure-Enabled Drug Delivery (PEDD) to overcome high intratumoral pressure and off-target delivery. Its 510(k) cleared device, the TriNav Infusion System using PEDD technology, is used for interventional radiology procedures including transarterial radioembolization (TARE) and transarterial chemoembolization (TACE) in patients with primary liver cancer or liver metastases. It has one reportable segment and generates revenue from sales of PEDD infusion systems, principally related to TriNav.
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