National Petroleum CoTPE:9937 +0.55%78 PB Ratio is 2.93 as of Jul. 06, 2026, which is 1% above its 10-year median of 2.89. GuruFocus rates TPE:9937 with a GF Score™ of 78/100 and a GF Value™ of NT$59.39 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,073 Retail - Cyclical companies, National Petroleum Co ranks worse than 73.63% on this metric.
National Petroleum Co Ltd stock PB Ratio (=2.92) is close to 5-year low of 2.63.
The historical rank and industry rank for National Petroleum Co's PB Ratio or its related term are showing as below:
TPE:9937'
s PB Ratio Range Over the Past 10 Years
Min: 2.48 Med: 2.89 Max: 4.46
Current: 2.94
During the past 13 years, National Petroleum Co's highest PB Ratio was 4.46. The lowest was 2.48. And the median was 2.89.
TPE:9937's PB Ratio is ranked worse than 73.63% of 1073
companies
in the Retail - Cyclical industry
Industry Median: 1.48
vs TPE:9937: 2.94
During the past 12 months, National Petroleum Co's average Book Value Per Share Growth Rate was 2.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 2.90% 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 2.70% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of National Petroleum Co was 11.10% per year. The lowest was -8.50% per year. And the median was 2.40% per year.
Back to Basics: PB Ratio
National Petroleum Co (TPE:9937) 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 Specialty Retail subindustry, National Petroleum Co'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.
National Petroleum Co PB Ratio vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, National Petroleum Co's PB Ratio distribution charts can be found below:
* The bar in red indicates where National Petroleum Co'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.
National Petroleum Co (TPE:9937) has a PB Ratio of 2.93 as of Jul. 06, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on National Petroleum Co and its competitors. This is near median its historical median of 2.89. Over the past decade, National Petroleum Co's PB Ratio has ranged from 2.48 to 4.46. According to the industry distribution chart, National Petroleum Co ranks #790 out of 1073 companies in the Retail - Cyclical industry, placing it in the top 73.6%.
Is National Petroleum Co's PB Ratio too high?
National Petroleum Co's current PB Ratio of 2.93 is near median its 10-year median of 2.89. Over the past 10 years, this metric has ranged from a low of 2.48 to a high of 4.46. The Retail - Cyclical industry median PB Ratio is 1.48. National Petroleum Co's value of 2.93 is 98% above this industry median. Based on the distribution chart, National Petroleum Co ranks #790 out of 1073 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, National Petroleum Co has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does National Petroleum Co's PB Ratio compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, National Petroleum Co ranks #790 out of 1073 companies for PB Ratio. This places National Petroleum Co in the lower half of its industry. The industry median PB Ratio is 1.48. National Petroleum Co's value of 2.93 is 98% above this benchmark. Historically, National Petroleum Co's own PB Ratio has ranged from 2.48 to 4.46 over the past decade. While the company's 10-year median is 2.89 vs. the industry median of 1.48, National Petroleum Co 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 Retail - Cyclical company?
The median PB Ratio among Retail - Cyclical companies is 1.48, based on 1,073 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. National Petroleum Co's current PB Ratio of 2.93 is 98% 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 National Petroleum Co and its competitors. For the Retail - Cyclical industry, the median PB Ratio is 1.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Petroleum Co's current PB Ratio is 2.93, which is near median its own 10-year median of 2.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Petroleum Co stock overvalued right now?
Based on GuruFocus' analysis, National Petroleum Co (TPE:9937) is currently considered Fairly Valued. The stock's GF Value™ is NT$59.39, compared to a current price of NT$55.30 — trading 6.9% below its estimated fair value. The current PB Ratio is 2.93, which is near median its 10-year median of 2.89 and 98% above the Retail - Cyclical industry median of 1.48. National Petroleum Co's overall GF Score™ is 78/100 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 National Petroleum Co (TPE:9937), the current PB Ratio is 2.93 as of Jul. 06, 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 National Petroleum Co (TPE:9937) Overvalued in 2026?
Based on GuruFocus' analysis, National Petroleum Co stock appears to be undervalued.
The current stock price of NT$55.30 is trading 6.9% below its estimated GF Value™ of NT$59.39.
GuruFocus considers National Petroleum Co to be Fairly Valued.
Key valuation signals for TPE:9937:
PB Ratio: 2.93 (near median its 10-year median of 2.89)
GF Value™: NT$59.39 vs. price of NT$55.30 (6.9% below fair value)
Industry Position: 98% above the Retail - Cyclical median (#790 of 1073)
No single metric tells the full story. See the TPE:9937 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Petroleum Co Ltd is engaged in providing and selling gasoline, diesel, and lubricant, as well as car washing services. The main revenue of the Group is generated from the sales of refined petroleum products supplied and sold through the Group's gas stations. The sales targets are mainly consumers at gas stations.
78GF Score
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