I know what PB ratio is and I am looking forward to calculate the sector PB ratio.
Here's the sector PB ratio of State Bank of India is 2.23. Link
The names of companies and its corresponding details are given below.
Extracted from ticker tape too : link
|Names||Market Cap(in Cr)||PB Ratio||Sector PB||Book Value(in Cr)||Current Market Price of each share|
|State Bank of India||₹451,139.11||1.58||2.23||₹285,187.48||₹505.50|
|Bank of Baroda Ltd||₹59,729.23||0.72||2.23||₹82,825.78||₹115.50|
|IDBI Bank Ltd||₹48,654.62||1.29||2.23||₹37,741.02||₹45.25|
|Canara Bank Ltd||₹42,731.84||0.68||2.23||₹63,202.97||₹235.55|
|Punjab National Bank||₹39,199.22||0.42||2.23||₹93,021.13||₹35.60|
|Indian Overseas Bank||₹34,874.95||2.06||2.23||₹16,944.81||₹18.45|
|Union Bank of India Ltd||₹27,509.86||0.42||2.23||₹64,737.77||₹40.25|
|Bank of India Ltd||₹20,169.03||0.40||2.23||₹50,139.54||₹49.15|
|Central Bank of India Ltd||₹16,450.38||0.62||2.23||₹26,547.38||₹18.95|
|Bank of Maharashtra Ltd||₹12,148.55||0.99||2.23||₹12,308.29||₹18.05|
|Punjab & Sind Bank||₹6,565.33||0.79||2.23||₹8,363.02||₹16.20|
I tried harmonic mean, arithemetic mean etc on ratio with its market captilisation weight etc.. but couldn't able to get the sector PB value as 2.23.
Also, on the website, a little definition is mention for sector PB
sector PB : Market cap weighted-average PB ratio of the sector the stock belongs to
Could anyone help me to understand how this sector PB is evaluated?