Associated Capital GroupACGP -0.68%55 Graham Number is $10.62 as of Mar. 2026, which is 252% above its 10-year median of 3.02. GuruFocus rates ACGP with a GF Score™ of 55/100 and a GF Value™ of $77.19 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 1,173 Asset Management companies, Associated Capital Group ranks worse than 94.03% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
The historical rank and industry rank for Associated Capital Group's Graham Number or its related term are showing as below:
ACGP'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.55 Med: 3.02 Max: 4.42
Current: 3.18
During the past 13 years, the highest Price to Graham Number ratio of Associated Capital Group was 4.42. The lowest was 1.55. And the median was 3.02.
ACGP's Price-to-Graham-Number is ranked worse than 94.03% of 1173
companies
in the Asset Management industry
Industry Median: 0.71
vs ACGP: 3.18
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Associated Capital Group (OTCPK:ACGP) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Associated Capital Group's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
33.80
/
10.62
=
3.18
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Associated Capital Group Graham Number Related Terms
Associated Capital Group Graham Number Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Asset Management subindustry, Associated Capital Group's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Associated Capital Group Price-to-Graham-Number vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Associated Capital Group's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Associated Capital Group's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Associated Capital Group (ACGP) has a Graham Number of $10.62 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Associated Capital Group and its competitors. This is 252% above median its historical median of 3.02. Over the past decade, Associated Capital Group's Graham Number has ranged from 1.55 to 4.42. According to the industry distribution chart, Associated Capital Group ranks #1103 out of 1173 companies in the Asset Management industry, placing it in the top 94%.
Is Associated Capital Group's Graham Number too high?
Associated Capital Group's current Graham Number of $10.62 is 252% above median its 10-year median of 3.02. Over the past 10 years, this metric has ranged from a low of 1.55 to a high of 4.42. The Asset Management industry median Graham Number is 0.71. Associated Capital Group's value of $10.62 is 1395.8% above this industry median. Based on the distribution chart, Associated Capital Group ranks #1103 out of 1173 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Associated Capital Group has a GF Score™ of 55/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Associated Capital Group's Graham Number compare to GCMG and MYI?
According to the Asset Management industry distribution chart, Associated Capital Group ranks #1103 out of 1173 companies for Graham Number. This places Associated Capital Group in the lower half of its industry. The industry median Graham Number is 0.71. Associated Capital Group's value of $10.62 is 1395.8% above this benchmark. Historically, Associated Capital Group's own Graham Number has ranged from 1.55 to 4.42 over the past decade. While the company's 10-year median is 3.02 vs. the industry median of 0.71, Associated Capital Group has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for an Asset Management company?
The median Graham Number among Asset Management companies is 0.71, based on 1,173 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Associated Capital Group's current Graham Number of $10.62 is 1395.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Associated Capital Group and its competitors. For the Asset Management industry, the median Graham Number is 0.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Associated Capital Group's current Graham Number is $10.62, which is 252% above median its own 10-year median of 3.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Associated Capital Group stock overvalued right now?
Based on GuruFocus' analysis, Associated Capital Group (ACGP) is currently considered Possible Value Trap. The stock's GF Value™ is $77.19, compared to a current price of $33.80 — trading 56.2% below its estimated fair value. The current Graham Number is $10.62, which is 252% above median its 10-year median of 3.02 and 1395.8% above the Asset Management industry median of 0.71. Associated Capital Group's overall GF Score™ is 55/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Associated Capital Group (ACGP), the current Graham Number is $10.62 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Associated Capital Group (ACGP) Overvalued in 2026?
Based on GuruFocus' analysis, Associated Capital Group stock appears to be undervalued.
The current stock price of $33.80 is trading 56.2% below its estimated GF Value™ of $77.19.
GuruFocus considers Associated Capital Group to be Possible Value Trap.
Key valuation signals for ACGP:
Graham Number: $10.62 (252% above median its 10-year median of 3.02)
GF Value™: $77.19 vs. price of $33.80 (56.2% below fair value)
Industry Position: 1395.8% above the Asset Management median (#1103 of 1173)
No single metric tells the full story. See the ACGP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Associated Capital Group Inc is a diversified financial services company. It operates in the business of alternative investment management, institutional research services, and cash and other assets through subsidiaries. The company principally manages assets across a range of risk and event arbitrage portfolios and in equity event-driven value strategies. The business earns management and incentive fees from its advisory activities. It manages assets on a discretionary basis and invests in a variety of U.S. and foreign securities, mainly in the developed global markets. The firm serves a wide variety of investors globally, including private wealth management clients, corporations, corporate pension and profit-sharing plans, foundations and endowments.
55GF Score
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