Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Telstra GroupASX:TLS 79 Price-to-Tangible-Book is 29.36 as of Aug. 28, 2026. GuruFocus rates ASX:TLS with a GF Score™ of 79/100 and a GF Value™ of A$4.21 (Fairly Valued). The stock has 4 warning signs investors should review. Among 261 Telecommunication Services companies, Telstra Group ranks worse than 95.02% on this metric.
The historical rank and industry rank for Telstra Group's Price-to-Tangible-Book or its related term are showing as below:
ASX:TLS'
s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 5.27 Med: 8.25 Max: 32.56
Current: 28.63
During the past 13 years, Telstra Group's highest Price to Tangible Book Ratio was 32.56. The lowest was 5.27. And the median was 8.25.
ASX:TLS's Price-to-Tangible-Book is ranked worse than 95.02% of 261
companies
in the Telecommunication Services industry
Industry Median: 2.56
vs ASX:TLS: 28.63
Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
Telstra Group Price-to-Tangible-Book Related Terms
Telstra Group Price-to-Tangible-Book Historical Data
* Premium members only.
The historical data trend for Telstra Group's Price-to-Tangible-Book 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.
ASX:TLS vs VZ, TMUS, T: Price-to-Tangible-Book Comparison
For the Telecom Services subindustry, Telstra Group's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book 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.
Telstra Group Price-to-Tangible-Book vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Telstra Group's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where Telstra Group's Price-to-Tangible-Book falls into.
* 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 PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
Telstra Group (ASX:TLS) has a Price-to-Tangible-Book of 29.36 as of Aug. 28, 2026. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Telstra Group and its competitors. According to the industry distribution chart, Telstra Group ranks #248 out of 261 companies in the Telecommunication Services industry, placing it in the top 95%.
Is Telstra Group's Price-to-Tangible-Book too high?
Telstra Group's current Price-to-Tangible-Book is 29.36. The Telecommunication Services industry median Price-to-Tangible-Book is 2.56. Telstra Group's value of 29.36 is 1046.9% above this industry median. Based on the distribution chart, Telstra Group ranks #248 out of 261 companies in the Telecommunication Services industry, which is in the bottom quartile relative to peers. Overall, Telstra Group has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Telstra Group's Price-to-Tangible-Book compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Telstra Group ranks #248 out of 261 companies for Price-to-Tangible-Book. This places Telstra Group in the lower half of its industry. The industry median Price-to-Tangible-Book is 2.56. Telstra Group's value of 29.36 is 1046.9% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Price-to-Tangible-Book for a Telecommunication Services company?
The median Price-to-Tangible-Book among Telecommunication Services companies is 2.56, based on 261 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Tangible-Book significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Tangible-Book should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Telstra Group's current Price-to-Tangible-Book of 29.36 is 1046.9% 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 Price-to-Tangible-Book mean?
A high Price-to-Tangible-Book can signal that a stock is expensive relative to its fundamentals. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on Telstra Group and its competitors. For the Telecommunication Services industry, the median Price-to-Tangible-Book is 2.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Telstra Group's current Price-to-Tangible-Book is 29.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Telstra Group stock overvalued right now?
Based on GuruFocus' analysis, Telstra Group (ASX:TLS) is currently considered Fairly Valued. The stock's GF Value™ is A$4.21, compared to a current price of A$4.58 — trading 8.8% above its estimated fair value. The current Price-to-Tangible-Book is 29.36 and 1046.9% above the Telecommunication Services industry median of 2.56. Telstra Group's overall GF Score™ is 79/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Price-to-Tangible-Book calculated?
Price-to-Tangible-Book is calculated from a company's financial statements. For Telstra Group (ASX:TLS), the current Price-to-Tangible-Book is 29.36 as of Aug. 28, 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 Telstra Group (ASX:TLS) Overvalued in 2026?
Based on GuruFocus' analysis, Telstra Group stock appears to be overvalued.
The current stock price of A$4.58 is trading 8.8% above its estimated GF Value™ of A$4.21.
GuruFocus considers Telstra Group to be Fairly Valued.
Key valuation signals for ASX:TLS:
Price-to-Tangible-Book: 29.36
GF Value™: A$4.21 vs. price of A$4.58 (8.8% above fair value)
Industry Position: 1046.9% above the Telecommunication Services median (#248 of 261)
No single metric tells the full story. See the ASX:TLS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Telstra is Australia's largest telecommunications company, with dominant market shares in voice, mobile, enterprise telecom, and fixed-line broadband resale via the national broadband network. Telstra provides most of its services via its infrastructure assets, such as a fixed-line network (data centers, exchanges, poles, ducts, pits and pipes, fiber network), a mobile network, and mobile towers. Its customers span retail, corporate, government, wholesale, and overseas segments. Telstra also provides the government-owned, last-mile fixed-line National Broadband Network with long-term access to its infrastructure, in return for recurring payments. Finally, Telstra operates a leading telecom operation in Papua New Guinea and the surrounding South-Pacific countries.
79GF Score
Get the complete analysis for ASX:TLS
Price-to-Tangible-Book is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:TLS has been successfully added to your 
