Precio-to-Book Ratio

¿Qué es P/B Ratio?

P/B Ratio compares acción precio to book value per share. It shows how much inversors pagar for each dollar of net activos. P/B < 1 might mean undervalued.

Piénsalo así

Buying a house: Book value is like the cost to build it from scratch. If you can comprar it for less than construction cost (P/B < 1), it might be a bargain!

Fórmula

P/B = Acción Precio / Book Value Per Share
  • Acción Precio: Current mercado precio
  • Book Value: Activos minus pasivos per share

Por qué importa

  • Values empresa based on activos
  • P/B < 1 might señal undervaluation
  • Importantee for asset-heavy companies
  • Banks and financials rely on P/B

¿Cuál es un buen valor?

< 1
Potentially Undervalued
Negociación below book value
1-3
Valor Justo
Normal for most companies
3-5
Premium
Crecimiento or quality premium
> 5
Caro
Alto crecimiento or overvalued

Ejemplo del mundo real

Bank of America P/B: 1.2 - typical for banks. Amazon P/B: 15 - inversors value future ganancias over current activos. Distressed empresa P/B: 0.5 - might be a value trap or opportunity.

Cosas a tener en cuenta

  • Book value can be outdated
  • Doesn't capture intangible activos well
  • Tech companies often have high P/B
  • Bajo P/B might señal problems

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