Cash & Leverage
How much the market pays relative to the company's accounting net worth (assets minus liabilities). P/B < 1 means the market values the company below what the books say it owns.
Formula
Price / Book Value Per ShareP/B History
Historically priceyAbove avgAround avgBelow avgHistorically cheap
No data available
How to read this chart
Most useful for asset-heavy businesses: banks, insurers, REITs. A P/B near its historical low suggests the market is paying unusually little for the net assets.
Key caveats
- Goodwill and intangibles from acquisitions can inflate book value significantly — some analysts prefer tangible book value.
- Low P/B in technology or software companies is usually irrelevant: their value is in IP and people, not balance sheet assets.
Is CAT P/B High or Low Right Now?
Caterpillar Inc.'s P/B is currently 24.6, which is near historic high relative to its 10-year historical range. The 10-year median P/B for CAT is approximately 6.4. See all CAT valuation metrics →
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