GlaxoSmithKline Pakistan Limited (GLAXO) valuation

At Rs 312.45 (close on 16 Oct 2026) GLAXO trades at 9.6× earnings (TTM to Jun 2026), below its five-year average of 20.1× and below the Pharmaceuticals median of 12.5×. The shares are priced at 2.89× book value (sector median 3.14×). Enterprise value of Rs 91.3 bn is 5.0× EBITDA. The dividend yield is 5.4%, against a five-year average of 2.6%.

P/E · today: 9.6×; TTM to Jun 2026; 5-yr average20.1× Sector median12.5×
P/B · today: 2.89×; Quarter to Jun 2026; 5-yr average2.77× Sector median3.14×
EV/EBITDA · today: 5.0×; 5-yr average6.3× Sector median6.7×
Dividend yield · today: 5.4%; FY2025; 5-yr average2.6% Payers' median4.6%

Market value Rs 99.5 bn at Rs 312.45. Sector medians use the latest close of 14 Pharmaceuticals companies; P/E and P/B only where earnings / book value are positive; the yield median covers dividend payers only. Not investment advice.

P/E history P/E at fiscal year-end 5-year average

Valuation history

At each fiscal year-end price.

GLAXO valuation history (annual) (Rs bn)
Rs bn	FY2025 Jan – Dec 2025	FY2024 Jan – Dec 2024	FY2023 Jan – Dec 2023	FY2022 Jan – Dec 2022	FY2021 Jan – Dec 2021	FY2020 Jan – Dec 2020	FY2019 Jan – Dec 2019	FY2018 Jan – Dec 2018	FY2017 Jan – Dec 2017	FY2016 Jan – Dec 2016	FY2015 Jan – Dec 2015	FY2014 Jan – Dec 2014	FY2013 Jan – Dec 2013	FY2012 Jan – Dec 2012	FY2011 Jan – Dec 2011	FY2010 Jan – Dec 2010	FY2009 Jan – Dec 2009	FY2008 Jan – Dec 2008	FY2007 Jan – Dec 2007	FY2006 Jan – Dec 2006
Market capitalisation	124.1	126.4	26.4	28.0	43.5	61.1	51.1	35.9	53.5	74.3	61.9	61.7	34.8	17.0	14.2	13.3	16.5	11.4	29.0	19.0
Enterprise value	115.9	120.1	23.0	23.3	34.8	55.1	48.5	32.5	51.3	70.0	58.2	59.0	32.7	14.7	11.8	9.6	13.8	8.6	24.6	14.3
Share price (period end) Rs	389.78	396.91	82.99	87.77	136.51	191.83	160.57	112.68	167.88	233.30	194.23	193.60	109.31	53.50	44.49	50.86	63.02	43.80	110.96	72.83
P/E (diluted)	12.38×	19.34×	49.50×	11.35×	8.12×	18.10×	16.81×	11.10×	17.66×	28.09×	24.64×	40.17×	32.77×	12.84×	12.41×	13.32×	16.08×	5.85×	17.35×	11.43×
Price to book	3.69×	4.47×	1.22×	1.33×	2.07×	3.50×	3.17×	2.33×	3.97×	5.49×	4.73×	5.16×	3.07×	1.36×	1.17×	1.23×	1.55×	1.37×	3.57×	2.52×
Price to sales	1.88×	2.07×	0.53×	0.67×	1.19×	1.74×	1.40×	1.06×	1.63×	2.70×	2.60×	2.70×	1.38×	0.74×	0.65×	0.74×	1.00×	0.85×	2.73×	1.89×
EV / EBITDA	6.52×	10.55×	8.97×	2.16×	4.27×	9.64×	8.84×	6.01×	8.71×	14.64×	19.33×	22.27×	15.49×	5.87×	4.55×	4.33×	6.92×	4.15×	11.04×	4.42×
EV / Sales	1.76×	1.96×	0.46×	0.56×	0.95×	1.57×	1.33×	0.95×	1.57×	2.54×	2.44×	2.58×	1.30×	0.64×	0.54×	0.51×	0.82×	0.64×	2.32×	1.41×
Dividend yield (gross)	3.8%	0.0%	0.0%	8.0%	4.8%	3.1%	4.4%	3.5%	5.4%	1.7%	2.6%	1.6%	3.0%	5.6%	5.9%	6.4%	7.3%	14.9%	3.8%	4.6%
Free cash flow yield	5.3%	2.2%	0.9%	(13.8%)	9.3%	8.5%	2.7%	6.3%	1.3%	3.4%	2.9%	2.3%	1.4%	4.3%	(4.9%)	11.8%	5.5%	(7.3%)	3.0%	6.9%
PEG ratio	0.23×	0.02×	(0.63×)	(0.21×)	0.14×	1.65×	(2.85×)	1.64×	1.22×	5.26×	0.39×	0.90×	(1.65×)	0.79×	(2.02×)	(5.15×)	(0.34×)	0.34×	51.82×	(1.39×)
P/E (diluted, normalised)	12.22×	19.29×	47.21×	10.82×	7.82×	17.14×	16.80×	10.95×	16.40×	27.20×	24.48×	40.34×	38.91×	12.79×	9.46×	12.05×	33.85×	12.38×	42.55×	27.26×
Price to book — 5-year average	2.77×	2.61×	2.16×	2.41×	2.94×	3.63×	3.86×	4.26×	4.51×	4.00×	3.11×	2.36×	1.65×	1.34×	1.71×	1.97×	2.27×	2.52×	2.84×	2.40×
EV / EBITDA — 5-year average	6.26×	6.64×	5.65×	5.47×	7.25×	9.44×	10.60×	12.47×	14.71×	15.58×	13.70×	10.58×	7.23×	5.14×	6.16×	6.04×	6.06×	5.69×	5.95×	4.59×
Dividend yield — 5-year average	2.6%	2.2%	4.0%	4.4%	4.2%	3.5%	3.3%	2.8%	2.7%	2.4%	2.9%	3.4%	5.2%	7.8%	6.8%	6.4%	5.8%	5.2%	3.9%	4.0%

GLAXO valuation: frequently asked questions

What is GLAXO's P/E ratio?

At the closing price of Rs 312.45 on 16 Oct 2026, GLAXO trades at a P/E of 9.6× based on EPS of Rs 32.69 (TTM to Jun 2026).

What is GLAXO's book value per share?

GlaxoSmithKline Pakistan Limited's book value per share was Rs 105.74 at the end of FY2025. The shares trade at 2.89× book value.

Information only, not investment advice.