Shin Hai GasTPE:9926 -0.40%91 PB Ratio is 2.10 as of Jul. 07, 2026, which is 16% below its 10-year median of 2.50. GuruFocus rates TPE:9926 with a GF Score™ of 91/100 and a GF Value™ of NT$58.19 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 502 Utilities - Regulated companies, Shin Hai Gas ranks worse than 73.11% 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), Shin Hai Gas's share price is NT$49.50. Shin Hai Gas's Book Value per Share for the quarter that ended in Dec. 2025 was NT$23.56. Hence, Shin Hai Gas's PB Ratio of today is 2.10.
Good Sign:
Shin Hai Gas Corp stock PB Ratio (=2.11) is close to 10-year low of 2.08.
The historical rank and industry rank for Shin Hai Gas's PB Ratio or its related term are showing as below:
TPE:9926'
s PB Ratio Range Over the Past 10 Years
Min: 2.08 Med: 2.5 Max: 2.83
Current: 2.1
During the past 13 years, Shin Hai Gas's highest PB Ratio was 2.83. The lowest was 2.08. And the median was 2.50.
TPE:9926's PB Ratio is ranked worse than 73.11% of 502
companies
in the Utilities - Regulated industry
Industry Median: 1.415
vs TPE:9926: 2.10
During the past 12 months, Shin Hai Gas's average Book Value Per Share Growth Rate was 2.80% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 6.20% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 5.20% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 4.80% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Shin Hai Gas was 7.10% per year. The lowest was 2.60% per year. And the median was 4.25% 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.
Shin Hai Gas PB Ratio Related Terms
Shin Hai Gas PB Ratio Historical Data
* Premium members only.
The historical data trend for Shin Hai Gas'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 Utilities - Regulated Gas subindustry, Shin Hai Gas'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.
Shin Hai Gas PB Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Shin Hai Gas's PB Ratio distribution charts can be found below:
* The bar in red indicates where Shin Hai Gas'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.
Shin Hai Gas'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.
Shin Hai Gas (TPE:9926) has a PB Ratio of 2.10 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 Shin Hai Gas and its competitors. This is 16% below median its historical median of 2.50. Over the past decade, Shin Hai Gas' PB Ratio has ranged from 2.08 to 2.83. According to the industry distribution chart, Shin Hai Gas ranks #367 out of 502 companies in the Utilities - Regulated industry, placing it in the top 73.1%.
Is Shin Hai Gas' PB Ratio too high?
Shin Hai Gas' current PB Ratio of 2.10 is 16% below median its 10-year median of 2.50. Over the past 10 years, this metric has ranged from a low of 2.08 to a high of 2.83. The Utilities - Regulated industry median PB Ratio is 1.42. Shin Hai Gas' value of 2.10 is 48.4% above this industry median. Based on the distribution chart, Shin Hai Gas ranks #367 out of 502 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, Shin Hai Gas has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shin Hai Gas' PB Ratio compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Shin Hai Gas ranks #367 out of 502 companies for PB Ratio. This places Shin Hai Gas in the lower half of its industry. The industry median PB Ratio is 1.42. Shin Hai Gas' value of 2.10 is 48.4% above this benchmark. Historically, Shin Hai Gas' own PB Ratio has ranged from 2.08 to 2.83 over the past decade. While the company's 10-year median is 2.50 vs. the industry median of 1.42, Shin Hai Gas 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 Utilities - Regulated company?
The median PB Ratio among Utilities - Regulated companies is 1.42, based on 502 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. Shin Hai Gas's current PB Ratio of 2.10 is 48.4% 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 Shin Hai Gas and its competitors. For the Utilities - Regulated industry, the median PB Ratio is 1.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shin Hai Gas's current PB Ratio is 2.10, which is 16% below median its own 10-year median of 2.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shin Hai Gas stock overvalued right now?
Based on GuruFocus' analysis, Shin Hai Gas (TPE:9926) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$58.19, compared to a current price of NT$49.50 — trading 14.9% below its estimated fair value. The current PB Ratio is 2.10, which is 16% below median its 10-year median of 2.50 and 48.4% above the Utilities - Regulated industry median of 1.42. Shin Hai Gas' overall GF Score™ is 91/100 with 3 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 Shin Hai Gas (TPE:9926), the current PB Ratio is 2.10 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 Shin Hai Gas (TPE:9926) Overvalued in 2026?
Based on GuruFocus' analysis, Shin Hai Gas stock appears to be undervalued.
The current stock price of NT$49.50 is trading 14.9% below its estimated GF Value™ of NT$58.19.
GuruFocus considers Shin Hai Gas to be Modestly Undervalued.
Key valuation signals for TPE:9926:
PB Ratio: 2.10 (16% below median its 10-year median of 2.50)
GF Value™: NT$58.19 vs. price of NT$49.50 (14.9% below fair value)
Industry Position: 48.4% above the Utilities - Regulated median (#367 of 502)
No single metric tells the full story. See the TPE:9926 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shin Hai Gas Corp is mainly engaged in natural gas supply service, natural gas transmission system construction, sale and installation of gas equipment, and operation and investment of type one telecommunications enterprise. The company's reportable segments include the Gas supply segment, Equipment segment, Telecommunication segment, and Others. The majority of its revenue is generated from the Gas supply segment, which derives income from the sales of natural gas.
91GF Score
Get the complete analysis for TPE:9926
PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TPE:9926 has been successfully added to your 
