Price-to-Book Ratios Have Been Lower at a Sector Level

Price-to-Book vs. 15-Year Averages

Price to book ratio is another form of stock valuation. These European stock sectors all have P/B ratios that have recently been lower than their 15-year average.

Sources: ©2014 FactSet Research Systems Inc. and ©2014 MSCI. Sector level percentage lower price to book values based on a comparison of P/B ratios as of December 31, 2013 to the 15-year average P/B ratio of the MSCI Europe Index. Indexes are unmanaged and one cannot invest directly in an index.