Axcelis TechnologiesACLS +1.81%85 Graham Number is $58.99 as of Mar. 2026, which is 3610% above its 10-year median of 1.59. GuruFocus rates ACLS with a GF Score™ of 85/100 and a GF Value™ of $87.50 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 656 Semiconductors companies, Axcelis Technologies ranks better than 54.12% 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.
As of today (2026-06-30), the stock price of Axcelis Technologies is $176.13. Axcelis Technologies's graham number for the quarter that ended in Mar. 2026 was $58.99. Therefore, Axcelis Technologies's Price to Graham Number ratio for today is 2.99.
The historical rank and industry rank for Axcelis Technologies's Graham Number or its related term are showing as below:
ACLS'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.61 Med: 1.59 Max: 3.26
Current: 2.99
During the past 13 years, the highest Price to Graham Number ratio of Axcelis Technologies was 3.26. The lowest was 0.61. And the median was 1.59.
ACLS's Price-to-Graham-Number is ranked better than 54.12% of 656
companies
in the Semiconductors industry
Industry Median: 3.2
vs ACLS: 2.99
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Axcelis Technologies (NAS:ACLS) 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.
Axcelis Technologies's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
176.13
/
58.99
=
2.99
* 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.
Axcelis Technologies Graham Number Related Terms
Axcelis Technologies Graham Number Historical Data
* Premium members only.
The historical data trend for Axcelis Technologies's Graham Number can be seen below:
* 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.
ACLS vs UCTT, AXTI, IPGP: Graham Number Comparison
For the Semiconductor Equipment & Materials subindustry, Axcelis Technologies'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.
Axcelis Technologies Price-to-Graham-Number vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Axcelis Technologies's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Axcelis Technologies'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.
Axcelis Technologies (ACLS) has a Graham Number of $58.99 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Axcelis Technologies and its competitors. This is 3610% above median its historical median of 1.59. Over the past decade, Axcelis Technologies' Graham Number has ranged from 0.61 to 3.26. According to the industry distribution chart, Axcelis Technologies ranks #301 out of 656 companies in the Semiconductors industry, placing it in the top 45.9%.
Is Axcelis Technologies' Graham Number too high?
Axcelis Technologies' current Graham Number of $58.99 is 3610% above median its 10-year median of 1.59. Over the past 10 years, this metric has ranged from a low of 0.61 to a high of 3.26. The Semiconductors industry median Graham Number is 3.20. Axcelis Technologies' value of $58.99 is 1743.4% above this industry median. Based on the distribution chart, Axcelis Technologies ranks #301 out of 656 companies in the Semiconductors industry, which is above the industry midpoint. Overall, Axcelis Technologies has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Axcelis Technologies' Graham Number compare to UCTT and AXTI?
According to the Semiconductors industry distribution chart, Axcelis Technologies ranks #301 out of 656 companies for Graham Number. This puts Axcelis Technologies in the upper half of its industry. The industry median Graham Number is 3.20. Axcelis Technologies' value of $58.99 is 1743.4% above this benchmark. Historically, Axcelis Technologies' own Graham Number has ranged from 0.61 to 3.26 over the past decade. While the company's 10-year median is 1.59 vs. the industry median of 3.20, Axcelis Technologies 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 a Semiconductors company?
The median Graham Number among Semiconductors companies is 3.20, based on 656 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. Axcelis Technologies's current Graham Number of $58.99 is 1743.4% 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 Axcelis Technologies and its competitors. For the Semiconductors industry, the median Graham Number is 3.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Axcelis Technologies's current Graham Number is $58.99, which is 3610% above median its own 10-year median of 1.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Axcelis Technologies stock overvalued right now?
Based on GuruFocus' analysis, Axcelis Technologies (ACLS) is currently considered Significantly Overvalued. The stock's GF Value™ is $87.50, compared to a current price of $176.13 — trading 101.3% above its estimated fair value. The current Graham Number is $58.99, which is 3610% above median its 10-year median of 1.59 and 1743.4% above the Semiconductors industry median of 3.20. Axcelis Technologies' overall GF Score™ is 85/100 with 8 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 Axcelis Technologies (ACLS), the current Graham Number is $58.99 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 Axcelis Technologies (ACLS) Overvalued in 2026?
Based on GuruFocus' analysis, Axcelis Technologies stock appears to be overvalued.
The current stock price of $176.13 is trading 101.3% above its estimated GF Value™ of $87.50.
GuruFocus considers Axcelis Technologies to be Significantly Overvalued.
Key valuation signals for ACLS:
Graham Number: $58.99 (3610% above median its 10-year median of 1.59)
GF Value™: $87.50 vs. price of $176.13 (101.3% above fair value)
Industry Position: 1743.4% above the Semiconductors median (#301 of 656)
No single metric tells the full story. See the ACLS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Axcelis Technologies Inc designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips. In addition to equipment, the company provides aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services, and customer training. Geographically, the group has a business presence in North America, Asia Pacific, and Europe, of which key revenue is derived from the Asia Pacific.
85GF Score
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