Question 1

What is PPG Industries's P/B ratio?

Accepted Answer

PPG Industries (PPG) P/B ratio is 3.3× 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 PPG Industries?

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 PPG Industries specifically, the relevant sector benchmark is the current sector median of 2.8×.

Question 5

Is PPG Industries's P/B ratio high or low?

Accepted Answer

PPG Industries's P/B ratio of 3.3× is below its own 5-year average of 4.4× and above the sector median of 2.8×. That places the current reading at the 11th 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 PPG Industries's historical P/B ratio range?

Accepted Answer

In the available daily series, PPG Industries (PPG) P/B ratio has ranged from a low of 2.0× in 2008 to a high of 6.6× in 2022. The 5-year average is 4.4× and the 5-year median is 4.3×.

Question 7

What was PPG Industries's P/B ratio in 2024?

Accepted Answer

PPG Industries (PPG) P/B ratio at the end of 2024 was 4.1×. 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 PPG Industries'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	$23B	-$3.54B	—	—	Dec 31, 2025
2024	$27.9B	$6.79B	4.1×	-0.4×	Dec 31, 2024
2023	$35.3B	$7.83B	4.5×	+0.0×	Dec 31, 2023
2022	$29.6B	$6.59B	4.5×	-2.0×	Dec 31, 2022
2021	$40.9B	$6.29B	6.5×	+0.5×	Dec 31, 2021
2020	$34.2B	$5.69B	6.0×	+0.0×	Dec 31, 2020
2019	$31.6B	$5.28B	6.0×	+0.7×	Dec 31, 2019
2018	$24.4B	$4.63B	5.3×	-0.0×	Dec 31, 2018
2017	$29.4B	$5.56B	5.3×	+0.1×	Dec 31, 2017
2016	$24.8B	$4.83B	5.1×	-0.2×	Dec 31, 2016
2015	$26.6B	$4.98B	5.3×	-0.8×	Dec 31, 2015
2014	$31.7B	$5.18B	6.1×	+0.7×	Dec 31, 2014
2013	$26.7B	$4.93B	5.4×	+0.3×	Dec 31, 2013
2012	$20.9B	$4.06B	5.1×	+1.2×	Dec 31, 2012
2011	$12.8B	$3.25B	3.9×	+0.2×	Dec 31, 2011
2010	$13.5B	$3.64B	3.7×	+1.1×	Dec 31, 2010
2009	$9.71B	$3.75B	2.6×	+0.5×	Dec 31, 2009
2008	$6.96B	$3.33B	2.1×	-0.7×	Dec 31, 2008
2007	$11.5B	$4.15B	2.8×	-0.5×	Dec 31, 2007
2006	$10.6B	$3.23B	3.3×	+0.1×	Dec 31, 2006
2005	$9.6B	$3.05B	3.1×	-0.1×	Dec 31, 2005
2004	$11.7B	$3.57B	3.3×	-0.5×	Dec 31, 2004
2003	$10.8B	$2.91B	3.7×	-0.2×	Dec 31, 2003
2002	$8.48B	$2.15B	3.9×	—	Dec 31, 2002


Linde (LIN)	6.0×
Freeport-McMoRan (FCX)	4.4×
Vulcan Materials (VMC)	4.3×
Air Products and Chemicals (APD)	4.1×
Agnico Eagle Mines (AEM)	3.9×
CF Industries Holdings (CF)	3.7×
Steel Dynamics (STLD)	3.5×
Newmont (NEM)	3.4×
Martin Marietta Materials (MLM)	3.1×
CRH (CRH)	3.0×
LyondellBasell (LYB)	2.6×
Corteva (CTVA)	2.3×
Builders FirstSource (BLDR)	2.3×
Albemarle (ALB)	2.1×
Dow (DOW)	2.0×
Nucor (NUE)	1.8×
H.B. Fuller (FUL)	1.7×
Eastman Chemical (EMN)	1.4×
Avient (AVNT)	1.4×
Ashland (ASH)	1.4×
DuPont de Nemours (DD)	1.3×
International Flavors & Fragrances (IFF)	1.3×
International Paper (IP)	1.3×
Stepan (SCL)	1.0×
Mosaic (MOS)	0.7×

P/B Ratio for PPG Industries (PPG) 2002-2026

P/B Ratio daily chart for PPG Industries (PPG)

Historical P/B Ratio for PPG Industries (PPG) from 2002 to 2025

About P/B Ratio at PPG Industries (PPG)

PPG Industries P/B Ratio by Year

PPG Industries P/B Ratio 2024: 4.1×

PPG Industries P/B Ratio 2023: 4.5×

PPG Industries P/B Ratio 2022: 4.5×

PPG Industries P/B Ratio 2021: 6.5×

PPG Industries P/B Ratio 2020: 6.0×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

PPG Industries (PPG) Key Financials