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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.
Vicinity Centres Price-to-Tangible-Book Related Terms
Vicinity Centres Price-to-Tangible-Book Historical Data
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The historical data trend for Vicinity Centres'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:VCX vs SPG, O, KIM: Price-to-Tangible-Book Comparison
For the REIT - Retail subindustry, Vicinity Centres'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.
Vicinity Centres Price-to-Tangible-Book vs REITs Industry
For the REITs industry and Real Estate sector, Vicinity Centres's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where Vicinity Centres'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.
Vicinity Centres (ASX:VCX) has a Price-to-Tangible-Book of 0.96 as of Sep. 02, 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 Vicinity Centres and its competitors. According to the industry distribution chart, Vicinity Centres ranks #560 out of 896 companies in the REITs industry, placing it in the top 62.5%.
Is Vicinity Centres' Price-to-Tangible-Book too high?
Vicinity Centres' current Price-to-Tangible-Book is 0.96. The REITs industry median Price-to-Tangible-Book is 0.84. Vicinity Centres' value of 0.96 is 14.3% above this industry median. Based on the distribution chart, Vicinity Centres ranks #560 out of 896 companies in the REITs industry, which is below the industry midpoint. Overall, Vicinity Centres has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vicinity Centres' Price-to-Tangible-Book compare to SPG and O?
According to the REITs industry distribution chart, Vicinity Centres ranks #560 out of 896 companies for Price-to-Tangible-Book. This places Vicinity Centres in the lower half of its industry. The industry median Price-to-Tangible-Book is 0.84. Vicinity Centres' value of 0.96 is 14.3% 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 REITs company?
The median Price-to-Tangible-Book among REITs companies is 0.84, based on 896 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. Vicinity Centres's current Price-to-Tangible-Book of 0.96 is 14.3% 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 Vicinity Centres and its competitors. For the REITs industry, the median Price-to-Tangible-Book is 0.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vicinity Centres's current Price-to-Tangible-Book is 0.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vicinity Centres stock overvalued right now?
Based on GuruFocus' analysis, Vicinity Centres (ASX:VCX) is currently considered Modestly Overvalued. The stock's GF Value™ is A$2.25, compared to a current price of A$2.49 — trading 10.7% above its estimated fair value. The current Price-to-Tangible-Book is 0.96 and 14.3% above the REITs industry median of 0.84. Vicinity Centres' overall GF Score™ is 68/100 with 6 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 Vicinity Centres (ASX:VCX), the current Price-to-Tangible-Book is 0.96 as of Sep. 02, 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 Vicinity Centres (ASX:VCX) Overvalued in 2026?
Based on GuruFocus' analysis, Vicinity Centres stock appears to be overvalued.
The current stock price of A$2.49 is trading 10.7% above its estimated GF Value™ of A$2.25.
GuruFocus considers Vicinity Centres to be Modestly Overvalued.
Key valuation signals for ASX:VCX:
Price-to-Tangible-Book: 0.96
GF Value™: A$2.25 vs. price of A$2.49 (10.7% above fair value)
Industry Position: 14.3% above the REITs median (#560 of 896)
No single metric tells the full story. See the ASX:VCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vicinity Centres operates about 50 shopping malls in Australia. They include several iconic city centers, like Queen Victoria Building, The Strand Arcade and The Galeries in Sydney, which are frequented by tourists and office workers nearby. Melbourne's Chadstone, Vicinity's crown jewel, is Australia's largest and highest turnover shopping mall. Smaller regional and neighborhood centers, to which Vicinity is consciously trimming exposure, account for around 15% of the portfolio. Vast majority of Vicinity's income is derived from rents. The group also earns small management fees for managing properties and development projects on behalf of capital partners.
68GF Score
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