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AEON CoAONNF +3.71%69 Graham Number is $2.71 as of Feb. 2026, which is 4% above its 10-year median of 2.61. GuruFocus rates AONNF with a GF Score™ of 69/100 and a GF Value™ of $9.68. The stock has 5 warning signs investors should review. Among 758 Retail - Cyclical companies, AEON Co ranks worse than 83.25% 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 (2026-07-29), the stock price of AEON Co is $9.749. AEON Co's graham number for the quarter that ended in Feb. 2026 was $2.71. Therefore, AEON Co's Price to Graham Number ratio for today is 3.35.
The historical rank and industry rank for AEON Co's Graham Number or its related term are showing as below:
AONNF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.48 Med: 2.61 Max: 5.32
Current: 3
During the past 13 years, the highest Price to Graham Number ratio of AEON Co was 5.32. The lowest was 1.48. And the median was 2.61.
AONNF's Price-to-Graham-Number is ranked worse than 83.25% of 758
companies
in the Retail - Cyclical industry
Industry Median: 1.23
vs AONNF: 3.00
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
AEON Co (OTCPK:AONNF) 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.
AEON Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Feb. 2026 )
=
9.749
/
2.91
=
3.35
* 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.
AEON Co Graham Number Related Terms
AEON Co Graham Number Historical Data
* Premium members only.
The historical data trend for AEON Co'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 Department Stores subindustry, AEON Co'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.
AEON Co Price-to-Graham-Number vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, AEON Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where AEON Co'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.
AEON Co (AONNF) has a Graham Number of $2.71 as of Feb. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on AEON Co and its competitors. This is near median its historical median of 2.61. Over the past decade, AEON Co's Graham Number has ranged from 1.48 to 5.32. According to the industry distribution chart, AEON Co ranks #631 out of 758 companies in the Retail - Cyclical industry, placing it in the top 83.2%.
Is AEON Co's Graham Number too high?
AEON Co's current Graham Number of $2.71 is near median its 10-year median of 2.61. Over the past 10 years, this metric has ranged from a low of 1.48 to a high of 5.32. The Retail - Cyclical industry median Graham Number is 1.23. AEON Co's value of $2.71 is 120.3% above this industry median. Based on the distribution chart, AEON Co ranks #631 out of 758 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, AEON Co has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does AEON Co's Graham Number compare to DDS and M?
According to the Retail - Cyclical industry distribution chart, AEON Co ranks #631 out of 758 companies for Graham Number. This places AEON Co in the lower half of its industry. The industry median Graham Number is 1.23. AEON Co's value of $2.71 is 120.3% above this benchmark. Historically, AEON Co's own Graham Number has ranged from 1.48 to 5.32 over the past decade. While the company's 10-year median is 2.61 vs. the industry median of 1.23, AEON Co 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 Retail - Cyclical company?
The median Graham Number among Retail - Cyclical companies is 1.23, based on 758 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. AEON Co's current Graham Number of $2.71 is 120.3% 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 AEON Co and its competitors. For the Retail - Cyclical industry, the median Graham Number is 1.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AEON Co's current Graham Number is $2.71, which is near median its own 10-year median of 2.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AEON Co stock overvalued right now?
AEON Co (AONNF) has a current Graham Number of $2.71. The stock's GF Value™ is $9.68, compared to a current price of $9.75 — trading 0.7% above its estimated fair value. The current Graham Number is $2.71, which is near median its 10-year median of 2.61 and 120.3% above the Retail - Cyclical industry median of 1.23. AEON Co'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 AEON Co (AONNF), the current Graham Number is $2.71 as of Feb. 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 AEON Co (AONNF) Overvalued in 2026?
Based on GuruFocus' analysis, AEON Co stock appears to be overvalued.
The current stock price of $9.75 is trading 0.7% above its estimated GF Value™ of $9.68.
Key valuation signals for AONNF:
Graham Number: $2.71 (near median its 10-year median of 2.61)
GF Value™: $9.68 vs. price of $9.75 (0.7% above fair value)
Industry Position: 120.3% above the Retail - Cyclical median (#631 of 758)
No single metric tells the full story. See the AONNF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AEON Co Ltd is a holding company engaged in comprehensive finance, development, and services with a focus on retail businesses. The Comprehensive Finance segment covers credit cards, banking, insurance, and related services. The Developer segment handles shopping center development, leasing, facility management, amusement, and restaurants. The Discount Store (DS) segment operates discount stores, while the General Supermarket (GMS) segment includes supermarkets and bento delicatessen specialty stores. The Health & Wellness segment runs drugstores and pharmacies. The International segment focuses on retail in ASEAN and China. Services/Specialty Store includes casual fashion, footwear, and variety goods. Supermarket (SM) operates supermarkets, convenience stores, and small outlets.
69GF Score
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