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What is Aims Property Securities Fund Graham Number?
Aims Property Securities FundASX:APW 37 Graham Number is A$4.85 as of Dec. 2025, which is 100% below its 10-year median of 0.41. GuruFocus rates ASX:APW with a GF Score™ of 37/100. The stock has 1 warning sign investors should review. Among 728 REITs companies, Aims Property Securities Fund ranks worse than 57.42% 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 Aims Property Securities Fund's Graham Number or its related term are showing as below:
ASX:APW'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.13 Med: 0.41 Max: 0.89
Current: 0.82
During the past 13 years, the highest Price to Graham Number ratio of Aims Property Securities Fund was 0.89. The lowest was 0.13. And the median was 0.41.
ASX:APW's Price-to-Graham-Number is ranked worse than 57.42% of 728
companies
in the REITs industry
Industry Median: 0.74
vs ASX:APW: 0.82
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Aims Property Securities Fund (ASX:APW) 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.
Aims Property Securities Fund's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
3.96
/
4.85
=
0.82
* 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.
Aims Property Securities Fund Graham Number Related Terms
Aims Property Securities Fund 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.
ASX:APW vs VICI, WPC, BNL: Graham Number Comparison
For the REIT - Diversified subindustry, Aims Property Securities Fund'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.
Aims Property Securities Fund Price-to-Graham-Number vs REITs Industry
For the REITs industry and Real Estate sector, Aims Property Securities Fund's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Aims Property Securities Fund'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.
Aims Property Securities Fund (ASX:APW) has a Graham Number of A$4.85 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Aims Property Securities Fund and its competitors. This is 1083% above median its historical median of 0.41. Over the past decade, Aims Property Securities Fund's Graham Number has ranged from 0.13 to 0.89. According to the industry distribution chart, Aims Property Securities Fund ranks #418 out of 728 companies in the REITs industry, placing it in the top 57.4%.
Is Aims Property Securities Fund's Graham Number too high?
Aims Property Securities Fund's current Graham Number of A$4.85 is 1083% above median its 10-year median of 0.41. Over the past 10 years, this metric has ranged from a low of 0.13 to a high of 0.89. Based on the distribution chart, Aims Property Securities Fund ranks #418 out of 728 companies in the REITs industry, which is below the industry midpoint. Overall, Aims Property Securities Fund has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Aims Property Securities Fund's Graham Number compare to VICI and WPC?
According to the REITs industry distribution chart, Aims Property Securities Fund ranks #418 out of 728 companies for Graham Number. This places Aims Property Securities Fund in the lower half of its industry. The industry median Graham Number is 0.74. Historically, Aims Property Securities Fund's own Graham Number has ranged from 0.13 to 0.89 over the past decade. 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 REITs company?
The median Graham Number among REITs companies is 0.74, based on 728 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. 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 Aims Property Securities Fund and its competitors. For the REITs industry, the median Graham Number is 0.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aims Property Securities Fund's current Graham Number is A$4.85, which is 1083% above median its own 10-year median of 0.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aims Property Securities Fund stock overvalued right now?
Aims Property Securities Fund (ASX:APW) has a current Graham Number of A$4.85. The current Graham Number is A$4.85, which is 1083% above median its 10-year median of 0.41. Aims Property Securities Fund's overall GF Score™ is 37/100 with 1 warning sign 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 Aims Property Securities Fund (ASX:APW), the current Graham Number is A$4.85 as of Dec. 2025. 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.
Aims Property Securities Fund Business Description
Aims Property Securities Fund is an Australia-based diversified real estate securities fund listed on the Australian Securities Exchange (ASX). It invests prominently in listed and unlisted property trusts, listed property-related companies, and mortgage funds across various property sectors and geographic locations. The fund aims to provide investors with regular quarterly income and long-term capital growth potential. It maintains a portfolio managed by multiple fund managers and follows prudent investment principles emphasizing conservative gearing and liquidity. Revenue is generated through income distributions and capital appreciation of its property investments.
37GF Score
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