Question 1

What is Spruce Biosciences's P/B ratio?

Accepted Answer

Spruce Biosciences (SPRB) P/B ratio is 2.1× as of June 12, 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 Spruce Biosciences?

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 Spruce Biosciences specifically, the relevant sector benchmark is the current sector median of 3.4×.

Question 5

Is Spruce Biosciences's P/B ratio high or low?

Accepted Answer

Spruce Biosciences's P/B ratio of 2.1× is above its own 5-year average of 1.2× and below the sector median of 3.4×. That places the current reading at the 83th 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 Spruce Biosciences's historical P/B ratio range?

Accepted Answer

In the available daily series, Spruce Biosciences (SPRB) P/B ratio has ranged from a low of 0.1× in 2025 to a high of 24.0× in 2020. The 5-year average is 1.2× and the 5-year median is 0.9×.

Question 7

What was Spruce Biosciences's P/B ratio in 2025?

Accepted Answer

Spruce Biosciences (SPRB) P/B ratio at the end of 2025 was 1.6×. 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 Spruce Biosciences'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	$66.78M	$42.52M	1.6×	+1.0×	Dec 31, 2025
2024	$16.90M	$28.82M	0.6×	-0.9×	Dec 31, 2024
2023	$117.21M	$76.51M	1.5×	+0.8×	Dec 31, 2023
2022	$50.41M	$68.49M	0.7×	-1.1×	Dec 31, 2022
2021	$203.98M	$111.37M	1.8×	-5.5×	Dec 31, 2021
2020	$1.10B	$149.43M	7.4×	—	Dec 31, 2020
2019	$754.56M	−$30.64M	—	—	Dec 31, 2019


Charles River (CRL)	2.6×
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Danaher (DHR)	2.4×
UnitedHealth Group (UNH)	2.4×
Solventum (SOLV)	2.3×
Becton, Dickinson and (BDX)	1.8×
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Molina Healthcare (MOH)	1.7×
Cigna (CI)	1.7×
Waters Corporation (WAT)	1.6×
Cooper Companies (COO)	1.5×
Elevance Health (ELV)	1.5×
Universal Health Services (UHS)	1.5×
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Baxter International (BAX)	1.4×
Revvity (RVTY)	1.4×
Zimmer Biomet Holdings (ZBH)	1.2×
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Humana (HUM)	1.1×
Viatris (VTRS)	1.1×
Ovid Therapeutics (OVID)	0.8×
Centene (CNC)	0.8×
Teladoc Health (TDOC)	0.7×

P/B Ratio for Spruce Biosciences (SPRB)

P/B Ratio daily chart for Spruce Biosciences (SPRB)

Historical P/B Ratio for Spruce Biosciences (SPRB) from 2019 to 2025

About P/B Ratio at Spruce Biosciences (SPRB)

Spruce Biosciences P/B Ratio by Year

Spruce Biosciences P/B Ratio 2025: 1.6×

Spruce Biosciences P/B Ratio 2024: 0.6×

Spruce Biosciences P/B Ratio 2023: 1.5×

Spruce Biosciences P/B Ratio 2022: 0.7×

Spruce Biosciences P/B Ratio 2021: 1.8×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Spruce Biosciences (SPRB) Key Financials

P/B Ratio daily chart for Spruce Biosciences (SPRB)

Historical P/B Ratio for Spruce Biosciences (SPRB) from 2019 to 2025

About P/B Ratio at Spruce Biosciences (SPRB)

Spruce Biosciences P/B Ratio by Year

Spruce Biosciences P/B Ratio 2025: 1.6×

Spruce Biosciences P/B Ratio 2024: 0.6×

Spruce Biosciences P/B Ratio 2023: 1.5×

Spruce Biosciences P/B Ratio 2022: 0.7×

Spruce Biosciences P/B Ratio 2021: 1.8×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Spruce Biosciences'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 Spruce Biosciences?

+Is Spruce Biosciences's P/B ratio high or low?

+What is Spruce Biosciences's historical P/B ratio range?

+What was Spruce Biosciences's P/B ratio in 2025?

+Why does Spruce Biosciences's P/B ratio change over time?

Spruce Biosciences (SPRB) Key Financials