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.
Armory MiningFRA:2JS +2.38% Price-to-Tangible-Book is 0.33 as of Aug. 22, 2026, which is 86% below its 10-year median of 2.37. The stock has 1 warning sign investors should review. Among 2,208 Metals & Mining companies, Armory Mining ranks better than 95.34% on this metric.
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.
Armory Mining Price-to-Tangible-Book Related Terms
Armory Mining Price-to-Tangible-Book Historical Data
* Premium members only.
The historical data trend for Armory Mining'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.
For the Other Industrial Metals & Mining subindustry, Armory Mining'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.
Armory Mining Price-to-Tangible-Book vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Armory Mining's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where Armory Mining'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.
Armory Mining (FRA:2JS) has a Price-to-Tangible-Book of 0.33 as of Aug. 22, 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 Armory Mining and its competitors. This is 86% below median its historical median of 2.37. Over the past decade, Armory Mining's Price-to-Tangible-Book has ranged from 0.20 to 21.00. According to the industry distribution chart, Armory Mining ranks #103 out of 2208 companies in the Metals & Mining industry, placing it in the top 4.7%.
Is Armory Mining's Price-to-Tangible-Book too high?
Armory Mining's current Price-to-Tangible-Book of 0.33 is 86% below median its 10-year median of 2.37. Over the past 10 years, this metric has ranged from a low of 0.20 to a high of 21.00. The Metals & Mining industry median Price-to-Tangible-Book is 2.31. Armory Mining's value of 0.33 is 85.7% below this industry median. Based on the distribution chart, Armory Mining ranks #103 out of 2208 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers.
How does Armory Mining's Price-to-Tangible-Book compare to competitors?
According to the Metals & Mining industry distribution chart, Armory Mining ranks #103 out of 2208 companies for Price-to-Tangible-Book. This places Armory Mining in the top 5% of its industry — outperforming the majority of peers. The industry median Price-to-Tangible-Book is 2.31. Armory Mining's value of 0.33 is 85.7% below this benchmark. Historically, Armory Mining's own Price-to-Tangible-Book has ranged from 0.20 to 21.00 over the past decade. While the company's 10-year median is 2.37 vs. the industry median of 2.31, Armory Mining has consistently been below 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 Price-to-Tangible-Book for a Metals & Mining company?
The median Price-to-Tangible-Book among Metals & Mining companies is 2.31, based on 2,208 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. Armory Mining's current Price-to-Tangible-Book of 0.33 is 85.7% below 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 Armory Mining and its competitors. For the Metals & Mining industry, the median Price-to-Tangible-Book is 2.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Armory Mining's current Price-to-Tangible-Book is 0.33, which is 86% below median its own 10-year median of 2.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Armory Mining stock overvalued right now?
Armory Mining (FRA:2JS) has a current Price-to-Tangible-Book of 0.33. The current Price-to-Tangible-Book is 0.33, which is 86% below median its 10-year median of 2.37 and 85.7% below the Metals & Mining industry median of 2.31. 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 Armory Mining (FRA:2JS), the current Price-to-Tangible-Book is 0.33 as of Aug. 22, 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.
Armory Mining Corps is a Canadian lithium-focused mineral exploration company that has an 80% interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina. Armory also holds a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia, a 100% interest in certain mineral claims located in Haida Gwaii, British Columbia and an option to acquire a 100% interest in certain mineral claims located in Nova Scotia.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:2JS has been successfully added to your 
