Question 1

What is NRG Energy's P/B ratio?

Accepted Answer

NRG Energy (NRG) P/B ratio is 5.5× as of June 5, 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 NRG Energy?

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 NRG Energy specifically, the relevant sector benchmark is the current sector median of 2.1×.

Question 5

Is NRG Energy's P/B ratio high or low?

Accepted Answer

NRG Energy's P/B ratio of 5.5× is below its own 5-year average of 5.6× and above the sector median of 2.1×. That places the current reading at the 64th 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 NRG Energy's historical P/B ratio range?

Accepted Answer

In the available daily series, NRG Energy (NRG) P/B ratio has ranged from a low of 0.5× in 2012 to a high of 20.8× in 2026. The 5-year average is 5.6× and the 5-year median is 3.9×.

Question 7

What was NRG Energy's P/B ratio in 2025?

Accepted Answer

NRG Energy (NRG) P/B ratio at the end of 2025 was 18.0×. 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 NRG Energy'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	$30.32B	$1.68B	18.0×	+10.5×	Dec 31, 2025
2024	$18.63B	$2.48B	7.5×	+3.6×	Dec 31, 2024
2023	$11.48B	$2.91B	3.9×	+2.0×	Dec 31, 2023
2022	$7.30B	$3.83B	1.9×	-1.0×	Dec 31, 2022
2021	$10.50B	$3.60B	2.9×	-2.5×	Dec 31, 2021
2020	$9.09B	$1.68B	5.4×	-0.5×	Dec 31, 2020
2019	$9.86B	$1.66B	5.9×	—	Dec 31, 2019
2018	$11.01B	−$1.23B	—	—	Dec 31, 2018
2017	$9.03B	−$346.00M	—	—	Dec 31, 2017
2016	$3.87B	$2.04B	1.9×	+0.7×	Dec 31, 2016
2015	$3.70B	$3.01B	1.2×	+0.3×	Dec 31, 2015
2014	$9.06B	$10.05B	0.9×	-0.0×	Dec 31, 2014
2013	$9.28B	$9.85B	0.9×	+0.4×	Dec 31, 2013
2012	$5.29B	$10.26B	0.5×	-0.0×	Dec 31, 2012
2011	$4.13B	$7.49B	0.6×	-0.0×	Dec 31, 2011
2010	$4.81B	$8.05B	0.6×	-0.1×	Dec 31, 2010
2009	$5.74B	$7.68B	0.7×	-0.0×	Dec 31, 2009
2008	$5.41B	$7.11B	0.8×	-1.1×	Dec 31, 2008
2007	$10.23B	$5.50B	1.9×	+0.7×	Dec 31, 2007
2006	$6.83B	$5.66B	1.2×	-1.0×	Dec 31, 2006
2005	$5.51B	$2.48B	2.2×	+1.1×	Dec 31, 2005
2004	$3.14B	$2.69B	1.2×	+0.3×	Dec 31, 2004
2003	$2.19B	$2.44B	0.9×	—	Dec 31, 2003
2002	$3.83B	−$696.20M	—	—	Dec 31, 2002
2001	$3.73B	$2.24B	1.7×	—	Dec 31, 2001


MGE Energy (MGEE)	2.1×
New Jersey Resources (NJR)	2.1×
Xcel Energy (XEL)	2.1×
Atmos Energy (ATO)	2.1×
Sempra (SRE)	2.0×
PPL (PPL)	1.9×
Middlesex Water (MSEX)	1.9×
Duke Energy (DUK)	1.9×
Dominion Energy (D)	1.9×
Evergy (EVRG)	1.9×
Pinnacle West Capital (PNW)	1.7×
Exelon (EXC)	1.7×
Essential Utilities (WTRG)	1.7×
Edison International (EIX)	1.6×
Consolidated Edison (ED)	1.6×
Eversource Energy (ES)	1.6×
California Water Service Group (CWT)	1.5×
UGI (UGI)	1.4×
Northwest Natural Holding (NWN)	1.4×
Black Hills (BKH)	1.3×
Artesian Resources (ARTNA)	1.3×
H2O America (HTO)	1.2×
Avista (AVA)	1.2×
PG&E (PCG)	1.2×
Algonquin Power & Utilities (AQN)	1.0×

P/B Ratio for NRG Energy (NRG)

P/B Ratio daily chart for NRG Energy (NRG)

Historical P/B Ratio for NRG Energy (NRG) from 2001 to 2025

About P/B Ratio at NRG Energy (NRG)

NRG Energy P/B Ratio by Year

NRG Energy P/B Ratio 2025: 18.0×

NRG Energy P/B Ratio 2024: 7.5×

NRG Energy P/B Ratio 2023: 3.9×

NRG Energy P/B Ratio 2022: 1.9×

NRG Energy P/B Ratio 2021: 2.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

NRG Energy (NRG) Key Financials

P/B Ratio daily chart for NRG Energy (NRG)

Historical P/B Ratio for NRG Energy (NRG) from 2001 to 2025

About P/B Ratio at NRG Energy (NRG)

NRG Energy P/B Ratio by Year

NRG Energy P/B Ratio 2025: 18.0×

NRG Energy P/B Ratio 2024: 7.5×

NRG Energy P/B Ratio 2023: 3.9×

NRG Energy P/B Ratio 2022: 1.9×

NRG Energy P/B Ratio 2021: 2.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is NRG Energy's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for NRG Energy?

+Is NRG Energy's P/B ratio high or low?

+What is NRG Energy's historical P/B ratio range?

+What was NRG Energy's P/B ratio in 2025?

+Why does NRG Energy's P/B ratio change over time?

NRG Energy (NRG) Key Financials