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ADF GroupADFJF -25.70%69 Graham Number is $9.22 as of Apr. 2026, which is 1708% above its 10-year median of 0.51. GuruFocus rates ADFJF with a GF Score™ of 69/100 and a GF Value™ of $7.21 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 2,211 Industrial Products companies, ADF Group ranks better than 67.25% 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 (2026-08-04), the stock price of ADF Group is $8.44. ADF Group's graham number for the quarter that ended in Apr. 2026 was $9.22. Therefore, ADF Group's Price to Graham Number ratio for today is 0.92.
The historical rank and industry rank for ADF Group's Graham Number or its related term are showing as below:
ADFJF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.25 Med: 0.51 Max: 1.54
Current: 0.96
During the past 13 years, the highest Price to Graham Number ratio of ADF Group was 1.54. The lowest was 0.25. And the median was 0.51.
ADFJF's Price-to-Graham-Number is ranked better than 67.25% of 2211
companies
in the Industrial Products industry
Industry Median: 1.75
vs ADFJF: 0.96
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
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.
ADF Group's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Apr. 2026 )
=
8.44
/
9.22
=
0.92
* 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.
ADF Group Graham Number Related Terms
ADF Group Graham Number Historical Data
* Premium members only.
The historical data trend for ADF Group'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.
For the Metal Fabrication subindustry, ADF 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.
ADF Group Price-to-Graham-Number vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, ADF Group's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where ADF 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.
ADF Group (ADFJF) has a Graham Number of $9.22 as of Apr. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on ADF Group and its competitors. This is 1708% above median its historical median of 0.51. Over the past decade, ADF Group's Graham Number has ranged from 0.25 to 1.54. According to the industry distribution chart, ADF Group ranks #724 out of 2211 companies in the Industrial Products industry, placing it in the top 32.7%.
Is ADF Group's Graham Number too high?
ADF Group's current Graham Number of $9.22 is 1708% above median its 10-year median of 0.51. Over the past 10 years, this metric has ranged from a low of 0.25 to a high of 1.54. The Industrial Products industry median Graham Number is 1.75. ADF Group's value of $9.22 is 426.9% above this industry median. Based on the distribution chart, ADF Group ranks #724 out of 2211 companies in the Industrial Products industry, which is above the industry midpoint. Overall, ADF Group has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ADF Group's Graham Number compare to CRS and ATI?
According to the Industrial Products industry distribution chart, ADF Group ranks #724 out of 2211 companies for Graham Number. This puts ADF Group in the upper half of its industry. The industry median Graham Number is 1.75. ADF Group's value of $9.22 is 426.9% above this benchmark. Historically, ADF Group's own Graham Number has ranged from 0.25 to 1.54 over the past decade. While the company's 10-year median is 0.51 vs. the industry median of 1.75, ADF 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 Industrial Products company?
The median Graham Number among Industrial Products companies is 1.75, based on 2,211 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. ADF Group's current Graham Number of $9.22 is 426.9% 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 ADF Group and its competitors. For the Industrial Products industry, the median Graham Number is 1.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ADF Group's current Graham Number is $9.22, which is 1708% above median its own 10-year median of 0.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ADF Group stock overvalued right now?
Based on GuruFocus' analysis, ADF Group (ADFJF) is currently considered Modestly Overvalued. The stock's GF Value™ is $7.21, compared to a current price of $8.44 — trading 17.1% above its estimated fair value. The current Graham Number is $9.22, which is 1708% above median its 10-year median of 0.51 and 426.9% above the Industrial Products industry median of 1.75. ADF Group's overall GF Score™ is 69/100 with 5 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 ADF Group (ADFJF), the current Graham Number is $9.22 as of Apr. 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 ADF Group (ADFJF) Overvalued in 2026?
Based on GuruFocus' analysis, ADF Group stock appears to be overvalued.
The current stock price of $8.44 is trading 17.1% above its estimated GF Value™ of $7.21.
GuruFocus considers ADF Group to be Modestly Overvalued.
Key valuation signals for ADFJF:
Graham Number: $9.22 (1708% above median its 10-year median of 0.51)
GF Value™: $7.21 vs. price of $8.44 (17.1% above fair value)
Industry Position: 426.9% above the Industrial Products median (#724 of 2211)
No single metric tells the full story. See the ADFJF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ADF Group Inc involves in the design and engineering of connections, fabrication, including industrial coating, and the installation of steel structures and steel built-ups, as well as miscellaneous and architectural metalwork. The company's products and services are intended for the five principal segments of the non-residential construction industry: Office towers and high-rises, Commercial and recreational buildings, Airport facilities, Industrial complexes, and Transport infrastructures and energy. It serves the client base in the non-residential construction industry, such as general contractors, project owners, engineering firms and project architects, and other steel structure fabricators in the United States and Canada.
69GF Score
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