WelbyTSE:4438 +2.43%36 PB Ratio is 11.80 as of Jul. 12, 2026, which is 129% above its 10-year median of 5.16. GuruFocus rates TSE:4438 with a GF Score™ of 36/100 and a GF Value™ of 円378.19 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 607 Healthcare Providers & Services companies, Welby ranks worse than 95.72% 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 (2026-07-12), Welby's share price is 円253.00. Welby's Book Value per Share for the quarter that ended in Dec. 2025 was 円21.45. Hence, Welby's PB Ratio of today is 11.80.
Warning Sign:
Welby Inc stock PB Ratio (=11.8) is close to 5-year high of 12.55.
The historical rank and industry rank for Welby's PB Ratio or its related term are showing as below:
TSE:4438'
s PB Ratio Range Over the Past 10 Years
Min: 2.14 Med: 5.16 Max: 24.77
Current: 11.8
During the past 10 years, Welby's highest PB Ratio was 24.77. The lowest was 2.14. And the median was 5.16.
TSE:4438's PB Ratio is ranked worse than 95.72% of 607
companies
in the Healthcare Providers & Services industry
Industry Median: 2.01
vs TSE:4438: 11.80
During the past 12 months, Welby's average Book Value Per Share Growth Rate was -66.40% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -41.30% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -24.80% per year.
During the past 10 years, the highest 3-Year average Book Value Per Share Growth Rate of Welby was 129.40% per year. The lowest was -41.30% per year. And the median was -7.00% 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.
Welby PB Ratio Related Terms
Welby PB Ratio Historical Data
* Premium members only.
The historical data trend for Welby'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 Health Information Services subindustry, Welby'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.
Welby PB Ratio vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Welby's PB Ratio distribution charts can be found below:
* The bar in red indicates where Welby'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.
Welby'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.
Welby (TSE:4438) has a PB Ratio of 11.80 as of Jul. 12, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Welby and its competitors. This is 129% above median its historical median of 5.16. Over the past decade, Welby's PB Ratio has ranged from 2.14 to 24.77. According to the industry distribution chart, Welby ranks #581 out of 607 companies in the Healthcare Providers & Services industry, placing it in the top 95.7%.
Is Welby's PB Ratio too high?
Welby's current PB Ratio of 11.80 is 129% above median its 10-year median of 5.16. Over the past 10 years, this metric has ranged from a low of 2.14 to a high of 24.77. The Healthcare Providers & Services industry median PB Ratio is 2.01. Welby's value of 11.80 is 487.1% above this industry median. Based on the distribution chart, Welby ranks #581 out of 607 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers. Overall, Welby has a GF Score™ of 36/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Welby's PB Ratio compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, Welby ranks #581 out of 607 companies for PB Ratio. This places Welby in the lower half of its industry. The industry median PB Ratio is 2.01. Welby's value of 11.80 is 487.1% above this benchmark. Historically, Welby's own PB Ratio has ranged from 2.14 to 24.77 over the past decade. While the company's 10-year median is 5.16 vs. the industry median of 2.01, Welby 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 Healthcare Providers & Services company?
The median PB Ratio among Healthcare Providers & Services companies is 2.01, based on 607 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. Welby's current PB Ratio of 11.80 is 487.1% 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 Welby and its competitors. For the Healthcare Providers & Services industry, the median PB Ratio is 2.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Welby's current PB Ratio is 11.80, which is 129% above median its own 10-year median of 5.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Welby stock overvalued right now?
Based on GuruFocus' analysis, Welby (TSE:4438) is currently considered Possible Value Trap. The stock's GF Value™ is 円378.19, compared to a current price of 円253.00 — trading 33.1% below its estimated fair value. The current PB Ratio is 11.80, which is 129% above median its 10-year median of 5.16 and 487.1% above the Healthcare Providers & Services industry median of 2.01. Welby's overall GF Score™ is 36/100 with 5 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 Welby (TSE:4438), the current PB Ratio is 11.80 as of Jul. 12, 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 Welby (TSE:4438) Overvalued in 2026?
Based on GuruFocus' analysis, Welby stock appears to be undervalued.
The current stock price of 円253.00 is trading 33.1% below its estimated GF Value™ of 円378.19.
GuruFocus considers Welby to be Possible Value Trap.
Key valuation signals for TSE:4438:
PB Ratio: 11.80 (129% above median its 10-year median of 5.16)
GF Value™: 円378.19 vs. price of 円253.00 (33.1% below fair value)
Industry Position: 487.1% above the Healthcare Providers & Services median (#581 of 607)
No single metric tells the full story. See the TSE:4438 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Welby Inc offers patients and their families digital tools helping medical treatment and prevention of the progression of disease. The company co-develops and co-provides digital services with pharmaceuticals, medical device companies, governments, along with patients and healthcare professionals.
36GF Score
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