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Makedonski Telekom ADXMAE:TEL 73 PB Ratio is 2.66 as of Jul. 27, 2026, which is 38% above its 10-year median of 1.93. GuruFocus rates XMAE:TEL with a GF Score™ of 73/100 and a GF Value™ of MKD432.91 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 340 Telecommunication Services companies, Makedonski Telekom AD ranks worse than 65.88% on this metric.
Makedonski Telekom AD stock PB Ratio (=2.66) is close to 10-year high of 2.66.
The historical rank and industry rank for Makedonski Telekom AD's PB Ratio or its related term are showing as below:
XMAE:TEL'
s PB Ratio Range Over the Past 10 Years
Min: 1.43 Med: 1.93 Max: 2.66
Current: 2.66
During the past 13 years, Makedonski Telekom AD's highest PB Ratio was 2.66. The lowest was 1.43. And the median was 1.93.
XMAE:TEL's PB Ratio is ranked worse than 65.88% of 340
companies
in the Telecommunication Services industry
Industry Median: 1.805
vs XMAE:TEL: 2.66
During the past 3 years, the average Book Value Per Share Growth Rate was 2.40% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 2.60% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -0.50% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Makedonski Telekom AD was 3.10% per year. The lowest was -12.20% per year. And the median was -2.10% per year.
Back to Basics: PB Ratio
Makedonski Telekom AD (XMAE:TEL) 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 Telecom Services subindustry, Makedonski Telekom AD'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.
Makedonski Telekom AD PB Ratio vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Makedonski Telekom AD's PB Ratio distribution charts can be found below:
* The bar in red indicates where Makedonski Telekom AD'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.
Makedonski Telekom AD (XMAE:TEL) has a PB Ratio of 2.66 as of Jul. 27, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Makedonski Telekom AD and its competitors. This is 38% above median its historical median of 1.93. Over the past decade, Makedonski Telekom AD's PB Ratio has ranged from 1.43 to 2.66. According to the industry distribution chart, Makedonski Telekom AD ranks #224 out of 340 companies in the Telecommunication Services industry, placing it in the top 65.9%.
Is Makedonski Telekom AD's PB Ratio too high?
Makedonski Telekom AD's current PB Ratio of 2.66 is 38% above median its 10-year median of 1.93. Over the past 10 years, this metric has ranged from a low of 1.43 to a high of 2.66. The Telecommunication Services industry median PB Ratio is 1.81. Makedonski Telekom AD's value of 2.66 is 47.4% above this industry median. Based on the distribution chart, Makedonski Telekom AD ranks #224 out of 340 companies in the Telecommunication Services industry, which is below the industry midpoint. Overall, Makedonski Telekom AD has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Makedonski Telekom AD's PB Ratio compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Makedonski Telekom AD ranks #224 out of 340 companies for PB Ratio. This places Makedonski Telekom AD in the lower half of its industry. The industry median PB Ratio is 1.81. Makedonski Telekom AD's value of 2.66 is 47.4% above this benchmark. Historically, Makedonski Telekom AD's own PB Ratio has ranged from 1.43 to 2.66 over the past decade. While the company's 10-year median is 1.93 vs. the industry median of 1.81, Makedonski Telekom AD 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 Telecommunication Services company?
The median PB Ratio among Telecommunication Services companies is 1.81, based on 340 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. Makedonski Telekom AD's current PB Ratio of 2.66 is 47.4% 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 Makedonski Telekom AD and its competitors. For the Telecommunication Services industry, the median PB Ratio is 1.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Makedonski Telekom AD's current PB Ratio is 2.66, which is 38% above median its own 10-year median of 1.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Makedonski Telekom AD stock overvalued right now?
Based on GuruFocus' analysis, Makedonski Telekom AD (XMAE:TEL) is currently considered Modestly Overvalued. The stock's GF Value™ is MKD432.91, compared to a current price of MKD495.00 — trading 14.3% above its estimated fair value. The current PB Ratio is 2.66, which is 38% above median its 10-year median of 1.93 and 47.4% above the Telecommunication Services industry median of 1.81. Makedonski Telekom AD's overall GF Score™ is 73/100 with 6 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 Makedonski Telekom AD (XMAE:TEL), the current PB Ratio is 2.66 as of Jul. 27, 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 Makedonski Telekom AD (XMAE:TEL) Overvalued in 2026?
Based on GuruFocus' analysis, Makedonski Telekom AD stock appears to be overvalued.
The current stock price of MKD495.00 is trading 14.3% above its estimated GF Value™ of MKD432.91.
GuruFocus considers Makedonski Telekom AD to be Modestly Overvalued.
Key valuation signals for XMAE:TEL:
PB Ratio: 2.66 (38% above median its 10-year median of 1.93)
GF Value™: MKD432.91 vs. price of MKD495.00 (14.3% above fair value)
Industry Position: 47.4% above the Telecommunication Services median (#224 of 340)
No single metric tells the full story. See the XMAE:TEL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Makedonski Telekom AD offers telecommunications services. Its services include telephone services, internet access services including broadband internet and entertainment IPTV products. The company offers a portfolio for residential and business customers, provided from a single source and focuses on Cloud and ICT solutions in order to provide the best customer experience.
73GF Score
Get the complete analysis for XMAE:TEL
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