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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 (2026-08-25), the stock price of Ardmore Shipping is $18.25. Ardmore Shipping's graham number for the quarter that ended in Jun. 2026 was $30.11. Therefore, Ardmore Shipping's Price to Graham Number ratio for today is 0.61.
The historical rank and industry rank for Ardmore Shipping's Graham Number or its related term are showing as below:
ASC'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.33 Med: 0.49 Max: 1.47
Current: 0.61
During the past 13 years, the highest Price to Graham Number ratio of Ardmore Shipping was 1.47. The lowest was 0.33. And the median was 0.49.
ASC's Price-to-Graham-Number is ranked better than 77.48% of 746
companies
in the Transportation industry
Industry Median: 1.03
vs ASC: 0.61
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Ardmore Shipping (NYSE:ASC) 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.
Ardmore Shipping's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
18.25
/
30.11
=
0.61
* 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.
Ardmore Shipping Graham Number Related Terms
Ardmore Shipping Graham Number Historical Data
* Premium members only.
The historical data trend for Ardmore Shipping'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 Marine Shipping subindustry, Ardmore Shipping'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.
Ardmore Shipping Price-to-Graham-Number vs Transportation Industry
For the Transportation industry and Industrials sector, Ardmore Shipping's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Ardmore Shipping'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.
Ardmore Shipping (ASC) has a Graham Number of $30.11 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Ardmore Shipping and its competitors. According to the industry distribution chart, Ardmore Shipping ranks #168 out of 746 companies in the Transportation industry, placing it in the top 22.5%.
Is Ardmore Shipping's Graham Number too high?
Ardmore Shipping's current Graham Number is $30.11. The Transportation industry median Graham Number is 1.03. Ardmore Shipping's value of $30.11 is 2823.3% above this industry median. Based on the distribution chart, Ardmore Shipping ranks #168 out of 746 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Ardmore Shipping has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ardmore Shipping's Graham Number compare to SB and ESEA?
According to the Transportation industry distribution chart, Ardmore Shipping ranks #168 out of 746 companies for Graham Number. This places Ardmore Shipping in the top 23% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.03. Ardmore Shipping's value of $30.11 is 2823.3% above this benchmark. 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 Transportation company?
The median Graham Number among Transportation companies is 1.03, based on 746 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. Ardmore Shipping's current Graham Number of $30.11 is 2823.3% 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 Ardmore Shipping and its competitors. For the Transportation industry, the median Graham Number is 1.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ardmore Shipping's current Graham Number is $30.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ardmore Shipping stock overvalued right now?
Based on GuruFocus' analysis, Ardmore Shipping (ASC) is currently considered Significantly Overvalued. The stock's GF Value™ is $13.00, compared to a current price of $18.25 — trading 40.4% above its estimated fair value. The current Graham Number is $30.11 and 2823.3% above the Transportation industry median of 1.03. Ardmore Shipping's overall GF Score™ is 75/100 with 3 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 Ardmore Shipping (ASC), the current Graham Number is $30.11 as of Jun. 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 Ardmore Shipping (ASC) Overvalued in 2026?
Based on GuruFocus' analysis, Ardmore Shipping stock appears to be overvalued.
The current stock price of $18.25 is trading 40.4% above its estimated GF Value™ of $13.00.
GuruFocus considers Ardmore Shipping to be Significantly Overvalued.
Key valuation signals for ASC:
Graham Number: $30.11
GF Value™: $13.00 vs. price of $18.25 (40.4% above fair value)
Industry Position: 2823.3% above the Transportation median (#168 of 746)
No single metric tells the full story. See the ASC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ardmore Shipping Corp provides seaborne transportation of petroleum products and chemicals world-wide to oil majors, national oil companies, oil and chemical traders, and chemical companies, with its modern, fuel-efficient fleet of mid-size product and chemical tankers. The company markets its services directly to its customers and commercial pool operators and charters its vessels to them through a combination of spot, commercial pooling, and time-charter arrangements. The majority of its revenue is generated from spot voyages, which typically last less than three months.
75GF Score
Get the complete analysis for ASC
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