Question 1

What is Howmet Aerospace's P/B ratio?

Accepted Answer

Howmet Aerospace (HWM) P/B ratio is 20.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Howmet Aerospace?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Howmet Aerospace specifically, the relevant sector benchmark is the current sector median of 4.6×.

Question 5

Is Howmet Aerospace's P/B ratio high or low?

Accepted Answer

Howmet Aerospace's P/B ratio of 20.5× is above its own 5-year average of 7.8× and above the sector median of 4.6×. That places the current reading at the 100th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Howmet Aerospace's historical P/B ratio range?

Accepted Answer

In the available daily series, Howmet Aerospace (HWM) P/B ratio has ranged from a low of 0.6× in 2016 to a high of 20.7× in 2026. The 5-year average is 7.8× and the 5-year median is 5.5×.

Question 7

What was Howmet Aerospace's P/B ratio in 2025?

Accepted Answer

Howmet Aerospace (HWM) P/B ratio at the end of 2025 was 15.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Howmet Aerospace's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$82.4B	$5.35B	15.4×	+5.6×	Dec 31, 2025
2024	$44.4B	$4.55B	9.8×	+4.2×	Dec 31, 2024
2023	$22.3B	$4.04B	5.5×	+1.0×	Dec 31, 2023
2022	$16.3B	$3.6B	4.5×	+0.7×	Dec 31, 2022
2021	$13.5B	$3.51B	3.9×	+0.4×	Dec 31, 2021
2020	$12.3B	$3.58B	3.4×	+0.6×	Dec 31, 2020
2019	$13.3B	$4.61B	2.9×	+1.4×	Dec 31, 2019
2018	$8.15B	$5.57B	1.5×	-1.2×	Dec 31, 2018
2017	$13.1B	$4.91B	2.7×	+1.1×	Dec 31, 2017
2016	$8.13B	$5.14B	1.6×	+0.8×	Dec 31, 2016
2015	$9.27B	$12B	0.8×	-0.3×	Dec 31, 2015
2014	$13B	$12.3B	1.1×	—	Dec 31, 2014


Thomson Reuters (TRI)	3.3×
Snap-on (SNA)	3.2×
Ingersoll Rand (IR)	3.1×
PACCAR (PCAR)	3.1×
Franklin Electric Co. (FELE)	3.0×
Huntington Ingalls Industries (HII)	2.9×
Brady (BRC)	2.9×
Delta Air Lines (DAL)	2.8×
United Airlines Holdings (UAL)	2.7×
Xylem (XYL)	2.6×
FedEx (FDX)	2.6×
Upwork (UPWK)	2.5×
McGrath RentCorp (MGRC)	2.2×
Tennant (TNC)	2.2×
Serve Robotics (SERV)	2.0×
AGCO (AGCO)	2.0×
Textron (TXT)	1.9×
Andersons (ANDE)	1.9×
Archer Aviation (ACHR)	1.9×
Alamo Group (ALG)	1.7×
Matthews International (MATW)	1.6×
Redwire (RDW)	1.5×
Amentum Holdings (AMTM)	1.4×
ABM Industries (ABM)	1.4×
Stanley Black & Decker (SWK)	1.2×

P/B Ratio for Howmet Aerospace (HWM) 2014-2026

P/B Ratio daily chart for Howmet Aerospace (HWM)

Historical P/B Ratio for Howmet Aerospace (HWM) from 2014 to 2025

About P/B Ratio at Howmet Aerospace (HWM)

Howmet Aerospace P/B Ratio by Year

Howmet Aerospace P/B Ratio 2025: 15.4×

Howmet Aerospace P/B Ratio 2024: 9.8×

Howmet Aerospace P/B Ratio 2023: 5.5×

Howmet Aerospace P/B Ratio 2022: 4.5×

Howmet Aerospace P/B Ratio 2021: 3.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Howmet Aerospace (HWM) Key Financials