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Nifty Pharma P/E ratio today

Price to earnings (P/E), price to book (P/B) and dividend yield for the Nifty Pharma, which is currently slightly expensive — the 74th percentile of 5,257 daily closes since 2005. Close of 27 Oct 2026.

Every NSE index, cheapest first

How the Nifty Pharma’s valuation reads today

Against the market. The Nifty Pharma trades at 2.16× the Nifty 50’s P/E, against a median of 1.62× across 5,257 days they were both priced — a wider premium than usual. A sector can look dear on its own numbers while being cheap against the market, and that gap is usually the more useful of the two.
The range it has actually traded in. Its P/E has been as low as 16.85 (Oct 2008) and as high as 83.32 (Aug 2015). Both ends are real closes, not a model — and the high end of an index P/E is usually an earnings collapse rather than a price melt-up, which is why the bands below are percentiles and not a mean.
Versus a year ago. 41.20 today, up from 34.39 a year ago. The ratio moves on price and on earnings, so a falling P/E can mean the index got cheaper or that its constituents earned more — the Nifty Pharma level itself is what separates the two.

Price to earnings

41.20Slightly expensive

74th percentile of 5,257 days · median 34.50

Price to book

4.95Fairly valued

39th percentile of 5,257 days · median 5.20

Dividend yield

0.57%Slightly expensive

21st percentile of 5,257 days · median 0.70

Where the Nifty Pharma P/E ratio sits today

Valuation zones for the Nifty Pharma price to earnings
Zone	P/E range	What it has meant
Undervalued	below 25.09	Historically cheap — the zone that has rewarded adding, not waiting.
Fairly valued	25.09 – 34.50	Nothing to act on. Keep SIPs running at their normal size.
Slightly expensiveyou are here	34.50 – 49.01	Above the historical middle. Stagger a lump sum rather than timing it.
Expensive	above 49.01	Historically dear — rebalancing to your target allocation is the honest response.

Bands are the 10th and 90th percentiles of 5,257 daily closes, with the median as the middle line — so the cheapest and dearest tenth of this index’s own history bound the outer zones, and one freak print cannot move them. They describe where this index has traded, not where it should — a market can stay expensive for years, and this is not a signal to act on.

When the Nifty Pharma P/E was here, what came next

For every month-end since 29 Feb 2012: the index’s annualised return over the following 1, 3 and 5 years, grouped by the valuation zone it started in. Median, with the worst and best start underneath.

Forward returns of the Nifty Pharma by starting P/E zone
Started in	Next 1Y	Next 3Y	Next 5Y
Undervalued	too few	too few	too few
Fairly valued	+28.4% -11.5% to +61.3% 19% lost money	+17.4% -5.4% to +25.0% 5% lost money	+15.4% -7.0% to +25.3% 9% lost money
Slightly expensiveyou are here	+8.7% -22.9% to +68.3% 39% lost money	+10.2% -13.0% to +36.1% 28% lost money	+6.2% -7.4% to +19.6% 10% lost money
Expensive	-11.3% -27.1% to +51.8% 76% lost money	+10.4% -13.3% to +32.7% 44% lost money	+3.0% -11.0% to +16.3% 32% lost money

Price return only (index levels carry no dividends, so each figure understates an investor’s return by about the dividend yield). Start months overlap: a 5-year window spans 60 of them, so the counts are not independent observations. A zone needs 12 starts before it is summarised. The past spread of outcomes is wide in every zone — this is a record, not a forecast.

All three, since 2005

Each cell is the median of that month’s daily closes — one day’s print can be an earnings-revision artefact, and on a grid this size that day would colour the whole month. Hover a cell for the trading-day count behind it, or the line above it for any day’s close. All three are always shown; the buttons at the top only change which metric the valuation zones describe.

Nifty Pharma P/E ratio, month by month

90th pct 49.01median 34.5010th pct 25.09

Price to earnings by month, 2005 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2005	·	·	·	·	·	·	31.20	34.33	34.27	32.22	31.88	33.17
2006	33.70	37.68	38.83	38.72	34.51	28.81	29.19	31.38	33.00	32.64	29.36	29.72
2007	30.48	25.52	23.92	25.28	23.90	22.61	22.36	19.65	20.62	21.16	22.55	24.31
2008	23.76	22.61	23.95	25.34	26.52	27.14	25.76	27.76	24.63	20.81	20.34	20.16
2009	20.34	24.54	23.84	27.65	38.53	39.51	39.81	34.81	35.91	40.13	36.44	39.25
2010	39.60	34.28	27.72	29.38	22.58	23.36	23.63	23.66	24.88	28.13	28.56	28.69
2011	28.26	25.01	25.77	26.66	28.80	29.98	30.16	26.53	26.52	26.49	28.37	28.31
2012	29.37	31.93	47.35	49.82	42.88	40.98	42.60	52.60	53.34	53.08	42.62	44.28
2013	44.62	41.75	32.51	33.95	40.08	41.61	45.47	44.09	44.88	47.07	47.78	48.36
2014	50.27	49.05	45.93	46.91	38.86	39.93	43.89	31.33	32.27	32.29	37.43	35.19
2015	35.31	47.55	52.03	52.77	55.76	51.94	55.25	75.63	74.00	76.86	59.36	58.99
2016	57.47	42.98	42.66	42.27	42.58	41.58	44.92	44.41	44.62	44.00	39.73	38.14
2017	38.70	37.97	37.95	37.09	35.98	34.94	36.46	36.73	44.93	46.88	47.44	44.81
2018	47.41	47.12	46.98	49.36	47.31	51.92	52.84	58.85	51.12	47.46	46.09	48.30
2019	48.88	49.08	51.57	52.98	47.24	38.48	38.54	32.04	32.45	29.22	29.48	25.47
2020	26.07	25.71	21.49	28.34	29.04	30.86	31.00	33.26	32.88	33.84	35.11	37.20
2021	38.68	35.55	33.49	34.80	36.59	35.97	36.84	30.28	30.61	31.09	31.91	31.47
2022	32.41	31.38	32.56	33.32	31.87	37.00	38.16	37.28	37.16	36.70	33.90	33.27
2023	32.89	31.46	30.88	32.71	31.58	28.75	30.61	32.32	32.29	31.89	31.82	32.70
2024	35.01	36.17	35.93	36.57	35.48	35.38	37.49	37.95	38.60	38.58	35.12	35.45
2025	34.90	32.59	31.29	32.01	31.80	31.00	32.15	31.80	32.14	34.22	33.80	33.60
2026	33.17	33.69	33.93	33.61	37.82	37.12	39.74	41.29	41.36	39.95	·	·

cheapestdearest· shaded by rank among all 256 months, not by absolute value — the series is skewed enough that a linear ramp would flatten a decade into one colour

Nifty Pharma P/B ratio, month by month

90th pct 7.55median 5.2010th pct 3.97

Price to book by month, 2005 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2005	·	·	·	·	·	·	7.45	7.49	7.53	7.02	6.95	7.23
2006	7.38	8.25	8.50	9.22	9.16	7.17	7.16	7.62	7.64	7.56	7.72	7.81
2007	8.07	8.00	7.49	7.94	7.75	7.59	7.51	6.00	5.47	5.63	5.71	6.16
2008	5.99	5.80	6.19	6.54	6.93	6.99	6.51	6.50	5.53	4.55	4.08	4.04
2009	4.01	3.70	3.59	4.19	4.42	4.66	4.61	4.66	4.68	4.99	5.30	5.71
2010	5.76	5.51	5.83	6.27	6.28	6.58	6.66	5.85	5.95	6.05	6.19	6.24
2011	6.14	5.56	5.52	5.69	5.51	5.67	5.75	5.30	4.14	4.13	4.25	4.22
2012	4.26	4.24	4.27	4.50	4.44	4.62	4.87	5.10	5.11	5.19	5.14	5.19
2013	5.22	5.13	5.19	5.41	5.82	5.78	6.18	5.95	5.96	5.92	5.85	5.90
2014	6.18	6.24	6.17	6.28	6.04	6.29	6.89	6.89	7.58	7.33	7.92	7.54
2015	7.57	7.97	8.70	8.83	9.34	8.95	9.29	8.59	8.35	8.38	6.30	6.26
2016	6.09	6.09	6.06	6.00	6.00	5.78	6.21	5.60	5.64	5.50	5.20	5.10
2017	4.96	5.05	5.04	4.93	4.78	4.53	4.72	4.24	4.36	4.37	4.17	4.00
2018	4.22	3.98	3.76	3.89	3.72	4.05	4.03	4.23	4.46	4.06	3.97	3.71
2019	3.76	3.74	3.89	3.98	3.64	3.45	3.43	3.19	3.15	2.92	3.10	3.14
2020	3.19	3.14	2.66	3.51	3.56	3.83	4.61	4.92	4.79	4.79	4.78	5.14
2021	5.36	5.21	4.98	5.43	5.75	5.81	5.95	5.26	5.28	5.17	4.92	4.79
2022	4.94	4.76	4.78	4.90	4.53	4.36	4.48	4.46	4.20	4.47	4.46	4.38
2023	4.33	4.17	4.02	4.27	4.29	4.51	4.80	5.15	5.02	4.11	4.25	4.42
2024	4.73	5.11	5.13	5.21	5.22	5.36	5.65	5.94	5.99	5.62	5.37	5.47
2025	5.39	5.16	5.06	5.18	5.27	5.32	5.25	4.82	4.73	4.80	4.89	4.92
2026	4.84	4.88	4.94	4.89	5.35	5.18	5.18	5.07	5.02	4.86	·	·

cheapestdearest

Nifty Pharma dividend yield, month by monthgreen is a HIGH yield, which is the cheap end

90th pct 1.17median 0.7010th pct 0.50

Dividend yield by month, 2005 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2005	·	·	·	·	·	·	1.17	1.16	1.14	1.20	1.21	1.17
2006	1.14	1.02	0.99	0.91	0.94	1.18	1.17	1.06	1.08	1.09	1.06	1.05
2007	1.02	1.03	1.10	1.04	1.06	1.08	1.09	1.20	1.17	1.15	1.12	1.04
2008	1.07	1.08	1.01	0.95	0.91	0.96	1.02	1.00	1.10	1.31	1.46	1.47
2009	1.48	1.61	1.65	1.39	1.32	0.93	0.93	0.93	0.92	0.86	0.81	0.75
2010	0.74	0.78	0.73	0.71	0.72	0.69	0.68	0.75	0.72	0.66	0.64	0.64
2011	0.65	0.71	0.73	0.74	0.78	0.74	0.73	0.74	1.27	1.27	1.23	1.26
2012	1.26	1.27	1.26	1.19	1.21	1.21	1.15	0.84	0.82	0.79	0.79	0.78
2013	0.78	0.79	0.78	0.77	0.71	0.72	0.67	0.69	0.68	0.66	0.67	0.67
2014	0.66	0.65	0.66	0.65	0.64	0.60	0.55	0.67	0.64	0.66	0.58	0.60
2015	0.59	0.56	0.52	0.51	0.48	0.50	0.47	0.41	0.42	0.41	0.52	0.52
2016	0.54	0.54	0.54	0.55	0.55	0.57	0.52	0.52	0.43	0.44	0.47	0.48
2017	0.49	0.48	0.48	0.49	0.51	0.54	0.52	0.57	0.56	0.47	0.42	0.42
2018	0.40	0.43	0.60	0.52	0.55	0.50	0.52	0.50	0.48	0.52	0.65	0.65
2019	0.64	0.64	0.62	0.60	0.66	0.70	0.70	0.76	0.66	0.70	0.66	0.65
2020	0.64	0.66	0.78	0.59	0.58	0.54	0.49	0.47	0.77	0.79	0.80	0.74
2021	0.71	0.73	0.76	0.44	0.42	0.42	0.43	0.54	0.63	0.60	0.63	0.64
2022	0.62	0.69	0.69	0.67	0.73	0.81	0.79	0.81	0.82	1.00	1.00	1.01
2023	1.02	1.06	1.13	0.96	1.03	0.94	0.92	0.90	0.86	0.86	0.84	0.81
2024	0.76	0.71	0.72	0.69	0.65	0.62	0.60	0.60	0.59	0.58	0.61	0.60
2025	0.61	0.68	0.67	0.66	0.65	0.64	0.79	0.72	0.71	0.69	0.68	0.68
2026	0.69	0.67	0.69	0.70	0.64	0.75	0.60	0.53	0.53	0.58	·	·

cheapestdearest

From the blog

Frequently asked questions

What is the Nifty Pharma P/E ratio today?

The Nifty Pharma closed at a price-to-earnings ratio of 41.20 on 27 October 2026. NSE publishes it once a day after the close, on a consolidated trailing-twelve-month basis, so it moves on the index and on quarterly earnings revisions — there is no intraday figure.

Is the Nifty Pharma overvalued right now?

Against its own history it is slightly expensive: a P/E of 41.20 is the 74th percentile of 5,257 daily closes, against a median of 34.50 over that span. That describes where this index has traded, not where it should — a market can stay expensive for years, and this is not a signal to act on.

What is a good P/E ratio for the Nifty Pharma?

There is no single good number, but there is a measured middle: 25.09 to 49.01 is the middle 80% of 5,257 daily closes, and the median sits at 34.50. Below 25.09 is the cheapest tenth of this index's own history and above 49.01 the dearest tenth. Compare it to the index's own past rather than to another market's — earnings mix and growth differ, so an Indian P/E and a US one are not the same quantity.

What is the Nifty Pharma P/B ratio?

The Nifty Pharma price-to-book ratio is 4.95 as of 27 October 2026, against a historical median of 5.20. P/B compares the index to the book value of its constituents' assets, which makes it the steadier of the two — book value does not swing on one quarter's earnings the way a P/E denominator can.

What is the Nifty Pharma dividend yield?

The Nifty Pharma dividend yield is 0.57% as of 27 October 2026, against a historical median of 0.70%. It reads backwards from the other two: a HIGH yield is the cheap end, because the same dividends are being bought for a lower price.

How often does this page update, and where do the numbers come from?

From NSE's own daily index file, which carries P/E, P/B and dividend yield for every index it prices — 144 of them have a meaningful P/E today. It is published once after each close and picked up by the hourly refresh, so the figures here are the last published close, never a live quote.