Valuation · at the close on 16 Oct 2026

First Punjab Modaraba (FPJM) valuation

FPJM has no positive earnings to compare its share price with, so P/E is not meaningful. The shares are priced at 0.45× book value (sector median 1.09×).

P/E · today

—

TTM to Jun 2026

5-yr average— Sector median16.9×

P/B · today

0.45×

Quarter to Jun 2026

5-yr average— Sector median1.09×

Dividend yield · today

0.0%

FY2025

5-yr average0.0% Payers' median4.3%

Market value Rs 682.1 mn at Rs 20.05. Sector medians use the latest close of 20 Modarabas companies; P/E and P/B only where earnings / book value are positive; the yield median covers dividend payers only. Not investment advice.

Valuation history

At each fiscal year-end price.

5 10 All

FPJM valuation history (annual) (Rs mn)

Rs mn	FY2025 Jan – Dec 2025	FY2024 Jan – Dec 2024	FY2023 Jan – Dec 2023	FY2022 Jan – Dec 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Market capitalisation	308.2	106.5	64.6	58.9	79.9	68.0	78.2	187.1	272.2	160.6	182.7	128.6	76.5	50.3	33.7	37.8	57.8	248.3	272.2
Share price (period end) Rs	9.06	3.13	1.90	1.73	2.35	2.00	2.30	5.50	8.00	4.72	5.37	3.78	2.25	1.48	0.99	1.11	1.70	7.30	8.00
P/E (diluted)	—	—	—	—	—	—	11.14×	8.34×	16.22×	5.83×	1.93×	1.73×	—	—	—	5.37×	—	14.59×	10.38×
Price to book	0.20×	0.51×	0.17×	15.97×	0.65×	0.52×	0.42×	1.00×	1.50×	0.88×	1.07×	1.39×	2.46×	0.35×	0.11×	0.10×	0.16×	0.56×	0.59×
Dividend yield (gross)	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	21.7%	9.1%	6.3%	10.6%	9.3%	0.0%	0.0%	0.0%	10.1%	0.0%	18.8%	8.2%	18.8%
PEG ratio	—	—	—	—	0.03×	—	(0.16×)	0.25×	(0.42×)	(0.08×)	0.07×	0.01×	—	—	—	0.05×	—	(0.42×)	—
P/E (diluted, normalised)	—	—	—	—	—	—	—	7.82×	16.45×	32.80×	1.64×	1.12×	—	—	—	2.10×	—	28.81×	7.14×
Price to book — 5-year average	—	—	—	—	0.84×	0.88×	0.97×	1.14×	1.25×	0.97×	0.64×	0.35×	0.21×	0.26×	0.34×	—	—	—	—
Dividend yield — 5-year average	0.0%	0.0%	0.0%	4.5%	6.7%	8.9%	9.7%	7.3%	6.2%	5.7%	4.3%	1.0%	5.6%	8.1%	13.2%	—	—	—	—

FPJM valuation: frequently asked questions

What is FPJM's book value per share? +

First Punjab Modaraba's book value per share was Rs 45.13 at the end of FY2025. The shares trade at 0.45× book value.

Information only, not investment advice.