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GQG PartnersASX:GQG -0.35%47 Graham Number is A$1.11 as of Dec. 2025, which is 100% below its 10-year median of 1.59. GuruFocus rates ASX:GQG with a GF Score™ of 47/100 and a GF Value™ of A$2.95 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,136 Asset Management companies, GQG Partners ranks worse than 83.98% 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 (2026-08-10), the stock price of GQG Partners is A$1.435. GQG Partners's graham number for the quarter that ended in Dec. 2025 was A$1.11. Therefore, GQG Partners's Price to Graham Number ratio for today is 1.29.
The historical rank and industry rank for GQG Partners's Graham Number or its related term are showing as below:
ASX:GQG'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.59 Med: 1.59 Max: 1.61
Current: 1.61
During the past 5 years, the highest Price to Graham Number ratio of GQG Partners was 1.61. The lowest was 1.59. And the median was 1.59.
ASX:GQG's Price-to-Graham-Number is ranked worse than 83.98% of 1136
companies
in the Asset Management industry
Industry Median: 0.7
vs ASX:GQG: 1.61
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.
GQG Partners's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
1.435
/
1.11
=
1.29
* 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.
GQG Partners Graham Number Related Terms
GQG Partners Graham Number Historical Data
* Premium members only.
The historical data trend for GQG Partners'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 Asset Management subindustry, GQG Partners'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.
GQG Partners Price-to-Graham-Number vs Asset Management Industry
For the Asset Management industry and Financial Services sector, GQG Partners's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where GQG Partners'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.
GQG Partners (ASX:GQG) has a Graham Number of A$1.11 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on GQG Partners and its competitors. This is 30% below median its historical median of 1.59. Over the past decade, GQG Partners' Graham Number has ranged from 1.59 to 1.61. According to the industry distribution chart, GQG Partners ranks #954 out of 1136 companies in the Asset Management industry, placing it in the top 84%.
Is GQG Partners' Graham Number too high?
GQG Partners' current Graham Number of A$1.11 is 30% below median its 10-year median of 1.59. Over the past 10 years, this metric has ranged from a low of 1.59 to a high of 1.61. Based on the distribution chart, GQG Partners ranks #954 out of 1136 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, GQG Partners has a GF Score™ of 47/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does GQG Partners' Graham Number compare to BLK and BX?
According to the Asset Management industry distribution chart, GQG Partners ranks #954 out of 1136 companies for Graham Number. This places GQG Partners in the lower half of its industry. The industry median Graham Number is 0.70. Historically, GQG Partners' own Graham Number has ranged from 1.59 to 1.61 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 an Asset Management company?
The median Graham Number among Asset Management companies is 0.70, based on 1,136 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 GQG Partners and its competitors. For the Asset Management industry, the median Graham Number is 0.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. GQG Partners's current Graham Number is A$1.11, which is 30% below median its own 10-year median of 1.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GQG Partners stock overvalued right now?
Based on GuruFocus' analysis, GQG Partners (ASX:GQG) is currently considered Significantly Undervalued. The stock's GF Value™ is A$2.95, compared to a current price of A$1.44 — trading 51.4% below its estimated fair value. The current Graham Number is A$1.11, which is 30% below median its 10-year median of 1.59. GQG Partners' overall GF Score™ is 47/100 with 4 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 GQG Partners (ASX:GQG), the current Graham Number is A$1.11 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.
Is GQG Partners (ASX:GQG) Overvalued in 2026?
Based on GuruFocus' analysis, GQG Partners stock appears to be undervalued.
The current stock price of A$1.44 is trading 51.4% below its estimated GF Value™ of A$2.95.
GuruFocus considers GQG Partners to be Significantly Undervalued.
Key valuation signals for ASX:GQG:
Graham Number: A$1.11 (30% below median its 10-year median of 1.59)
GF Value™: A$2.95 vs. price of A$1.44 (51.4% below fair value)
No single metric tells the full story. See the ASX:GQG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Established in 2016, GQG Partners is a global boutique asset management firm mainly focused on active equity portfolios. The company offers investment advisory and portfolio management services. GQG Partners manages money for investors around the world, including pension funds, sovereign funds, wealth management firms, and other financial institutions. Headquartered in Fort Lauderdale, Florida, GQG also has operations in New York, Seattle, London, Sydney, and other locations.
47GF Score
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