Thermax (THERMAX.NS)

P/B ratio as of December 2025 : 6.26

According to Thermax's latest financial reports the company has a price-to-book ratio of 3.07228.
The price-to-book ratio is a way to measure how much the stock market thinks a company is worth compared to how much the company says its assets are worth on paper.

Thermax - P/B ratio (from 2016 to 2025)

P/B ratio by year

Year	P/B ratio	Change
2025-12-31	N/A	-100%
2024-12-31	10.5	20.56%
2023-12-31	8.69	33.67%
2022-12-31	6.50	1.12%
2021-12-31	6.43	80.14%
2020-12-31	3.57	-16.58%
2019-12-31	4.28	-13.28%
2018-12-31	4.94	-14.73%
2017-12-31	5.79	62.16%
2016-12-31	3.57

What is the market capitalization of a company?

The market capitalization sometimes referred as Marketcap, is the value of a publicly listed company.
In most cases it can be easily calculated by multiplying the share price with the amount of outstanding shares.

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Thermax (THERMAX.NS) - P/B ratio