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Associated British FoodsASBFY +1.70%80 Graham Number is $28.50 as of Feb. 2026, which is 2011% above its 10-year median of 1.35. GuruFocus rates ASBFY with a GF Score™ of 80/100 and a GF Value™ of $30.36 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,388 Consumer Packaged Goods companies, Associated British Foods ranks better than 58.72% 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 British Foods's Graham Number or its related term are showing as below:
ASBFY'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.82 Med: 1.35 Max: 2.6
Current: 0.98
During the past 13 years, the highest Price to Graham Number ratio of Associated British Foods was 2.60. The lowest was 0.82. And the median was 1.35.
ASBFY's Price-to-Graham-Number is ranked better than 58.72% of 1388
companies
in the Consumer Packaged Goods industry
Industry Median: 1.095
vs ASBFY: 0.98
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Associated British Foods (OTCPK:ASBFY) 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 British Foods's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Feb. 2026 )
=
27.58
/
28.50
=
0.97
* 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 British Foods Graham Number Related Terms
Associated British Foods 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 Packaged Foods subindustry, Associated British Foods'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 British Foods Price-to-Graham-Number vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Associated British Foods's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Associated British Foods'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 British Foods (ASBFY) has a Graham Number of $28.50 as of Feb. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Associated British Foods and its competitors. This is 2011% above median its historical median of 1.35. Over the past decade, Associated British Foods' Graham Number has ranged from 0.82 to 2.60. According to the industry distribution chart, Associated British Foods ranks #573 out of 1388 companies in the Consumer Packaged Goods industry, placing it in the top 41.3%.
Is Associated British Foods' Graham Number too high?
Associated British Foods' current Graham Number of $28.50 is 2011% above median its 10-year median of 1.35. Over the past 10 years, this metric has ranged from a low of 0.82 to a high of 2.60. The Consumer Packaged Goods industry median Graham Number is 1.10. Associated British Foods' value of $28.50 is 2502.7% above this industry median. Based on the distribution chart, Associated British Foods ranks #573 out of 1388 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Associated British Foods has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Associated British Foods' Graham Number compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Associated British Foods ranks #573 out of 1388 companies for Graham Number. This puts Associated British Foods in the upper half of its industry. The industry median Graham Number is 1.10. Associated British Foods' value of $28.50 is 2502.7% above this benchmark. Historically, Associated British Foods' own Graham Number has ranged from 0.82 to 2.60 over the past decade. While the company's 10-year median is 1.35 vs. the industry median of 1.10, Associated British Foods 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 Consumer Packaged Goods company?
The median Graham Number among Consumer Packaged Goods companies is 1.10, based on 1,388 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 British Foods's current Graham Number of $28.50 is 2502.7% 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 British Foods and its competitors. For the Consumer Packaged Goods industry, the median Graham Number is 1.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Associated British Foods's current Graham Number is $28.50, which is 2011% above median its own 10-year median of 1.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Associated British Foods stock overvalued right now?
Based on GuruFocus' analysis, Associated British Foods (ASBFY) is currently considered Fairly Valued. The stock's GF Value™ is $30.36, compared to a current price of $27.58 — trading 9.2% below its estimated fair value. The current Graham Number is $28.50, which is 2011% above median its 10-year median of 1.35 and 2502.7% above the Consumer Packaged Goods industry median of 1.10. Associated British Foods' overall GF Score™ is 80/100 with 2 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 British Foods (ASBFY), the current Graham Number is $28.50 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 Associated British Foods (ASBFY) Overvalued in 2026?
Based on GuruFocus' analysis, Associated British Foods stock appears to be undervalued.
The current stock price of $27.58 is trading 9.2% below its estimated GF Value™ of $30.36.
GuruFocus considers Associated British Foods to be Fairly Valued.
Key valuation signals for ASBFY:
Graham Number: $28.50 (2011% above median its 10-year median of 1.35)
GF Value™: $30.36 vs. price of $27.58 (9.2% below fair value)
Industry Position: 2502.7% above the Consumer Packaged Goods median (#573 of 1388)
No single metric tells the full story. See the ASBFY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Associated British Foods is a diversified international food, ingredients, and retail group with 138,000 employees and operations in 56 countries across Europe, Africa, the Americas, Asia, and Australia. The group sells branded groceries, grows and processes sugar, supplies farmers with crop input and animal feed, and runs the multinational Primark clothing retail chain. It also supplies ingredients like bakers' yeast, enzymes, lipids, and cereal specialties. In fiscal 2025, approximately 36% of sales came from the UK, and Primark accounted for around 60% of operating profit.On April 21, 2026, ABF announced it plans to separate Primark and the food businesses. Subject to approvals, the demerger is expected to become effective at the end of 2027.
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