Broadband circuit models and their parameters of passive components are an important part of the functional design and electromagnetic compatibility analysis of power electronic devices. In this article, we propose a novel concise physical lumped-parameter extraction method for the construction of effective broadband circuit models for printed circuit board inductive components. The method is based on PEEC theory and generalized eigenvalue theory. The frequency domain port impedance characteristics are kept as equal as possible during circuit model transformation processes. A partial equivalent element circuit (PEEC) model of a three-dimensional PCB inductive component with a large number of nodes is first of all introduced. This includes conductors and PCB dielectrics. Then, its port impedance matrix formula is deduced. After this, the polynomial form of the port impedance matrix and the circuit model order reduction method are presented in detail. We report on the construction of two typical coreless PCB planar components, a spiral planar inductor and a coreless planar transformer, whose broadband physical circuit models and parameters were extracted using the proposed method. The results of tests with these two planar components confirmed the validity of their models for a frequency range of up to 500 MHz.