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XKAZ:KMGZ'
s PB Ratio Range Over the Past 10 Years
Min: 0.54 Med: 0.75 Max: 1.73
Current: 1.73
During the past 13 years, National Company KazMunayGaz JSC's highest PB Ratio was 1.73. The lowest was 0.54. And the median was 0.75.
XKAZ:KMGZ's PB Ratio is ranked worse than 56.21% of 934
companies
in the Oil & Gas industry
Industry Median: 1.48
vs XKAZ:KMGZ: 1.73
During the past 12 months, National Company KazMunayGaz JSC's average Book Value Per Share Growth Rate was 3.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 7.90% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 7.00% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -10.00% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of National Company KazMunayGaz JSC was 12.70% per year. The lowest was -50.60% per year. And the median was 6.40% 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.
National Company KazMunayGaz JSC PB Ratio Related Terms
National Company KazMunayGaz JSC PB Ratio Historical Data
* 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 Oil & Gas Refining & Marketing subindustry, National Company KazMunayGaz JSC'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 Company KazMunayGaz JSC PB Ratio vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Company KazMunayGaz JSC's PB Ratio distribution charts can be found below:
* The bar in red indicates where National Company KazMunayGaz JSC's PB Ratio falls into.
National Company KazMunayGaz JSC PB Ratio Calculation
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 Company KazMunayGaz JSC (XKAZ:KMGZ) has a PB Ratio of 1.74 as of Sep. 21, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on National Company KazMunayGaz JSC and its competitors. This is 132% above median its historical median of 0.75. Over the past decade, National Company KazMunayGaz JSC's PB Ratio has ranged from 0.54 to 1.73. According to the industry distribution chart, National Company KazMunayGaz JSC ranks #525 out of 934 companies in the Oil & Gas industry, placing it in the top 56.2%.
Is National Company KazMunayGaz JSC's PB Ratio too high?
National Company KazMunayGaz JSC's current PB Ratio of 1.74 is 132% above median its 10-year median of 0.75. Over the past 10 years, this metric has ranged from a low of 0.54 to a high of 1.73. The Oil & Gas industry median PB Ratio is 1.48. National Company KazMunayGaz JSC's value of 1.74 is 17.6% above this industry median. Based on the distribution chart, National Company KazMunayGaz JSC ranks #525 out of 934 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, National Company KazMunayGaz JSC has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Company KazMunayGaz JSC's PB Ratio compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, National Company KazMunayGaz JSC ranks #525 out of 934 companies for PB Ratio. This places National Company KazMunayGaz JSC in the lower half of its industry. The industry median PB Ratio is 1.48. National Company KazMunayGaz JSC's value of 1.74 is 17.6% above this benchmark. Historically, National Company KazMunayGaz JSC's own PB Ratio has ranged from 0.54 to 1.73 over the past decade. While the company's 10-year median is 0.75 vs. the industry median of 1.48, National Company KazMunayGaz JSC 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 Oil & Gas company?
The median PB Ratio among Oil & Gas companies is 1.48, based on 934 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 Company KazMunayGaz JSC's current PB Ratio of 1.74 is 17.6% 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 Company KazMunayGaz JSC and its competitors. For the Oil & Gas 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 Company KazMunayGaz JSC's current PB Ratio is 1.74, which is 132% above median its own 10-year median of 0.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Company KazMunayGaz JSC stock overvalued right now?
Based on GuruFocus' analysis, National Company KazMunayGaz JSC (XKAZ:KMGZ) is currently considered Significantly Overvalued. The stock's GF Value™ is ₸18,769.37, compared to a current price of ₸35,560.00 — trading 89.5% above its estimated fair value. The current PB Ratio is 1.74, which is 132% above median its 10-year median of 0.75 and 17.6% above the Oil & Gas industry median of 1.48. National Company KazMunayGaz JSC's overall GF Score™ is 65/100 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 National Company KazMunayGaz JSC (XKAZ:KMGZ), the current PB Ratio is 1.74 as of Sep. 21, 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 Company KazMunayGaz JSC (XKAZ:KMGZ) Overvalued in 2026?
Based on GuruFocus' analysis, National Company KazMunayGaz JSC stock appears to be overvalued.
The current stock price of ₸35,560.00 is trading 89.5% above its estimated GF Value™ of ₸18,769.37.
GuruFocus considers National Company KazMunayGaz JSC to be Significantly Overvalued.
Key valuation signals for XKAZ:KMGZ:
PB Ratio: 1.74 (132% above median its 10-year median of 0.75)
GF Value™: ₸18,769.37 vs. price of ₸35,560.00 (89.5% above fair value)
Industry Position: 17.6% above the Oil & Gas median (#525 of 934)
No single metric tells the full story. See the XKAZ:KMGZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Company KazMunayGaz JSC Group's activities comprise the exploration and production of oil and gas, transportation, refining, and marketing of hydrocarbons and petroleum products, with trading activities carried out in the Republic of Kazakhstan. The Group's activity consists of three main operating segments: exploration and production of oil and gas, oil transportation, and refining and trading of crude oil and refined products, which generates maximum revenue. It operates in the UAE, which generates maximum revenue, as well as in Kazakhstan, Romania, Switzerland, the Netherlands, and other countries.
65GF Score
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