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New HopeASX:NHC -1.13%69 Graham Number is A$3.50 as of Jan. 2026, which is 100% below its 10-year median of 0.76. GuruFocus rates ASX:NHC with a GF Score™ of 69/100 and a GF Value™ of A$4.06 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 82 Other Energy Sources companies, New Hope ranks worse than 68.29% 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 (2026-07-16), the stock price of New Hope is A$5.25. New Hope's graham number for the quarter that ended in Jan. 2026 was A$3.50. Therefore, New Hope's Price to Graham Number ratio for today is 1.50.
The historical rank and industry rank for New Hope's Graham Number or its related term are showing as below:
ASX:NHC'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.43 Med: 0.76 Max: 1.9
Current: 1.5
During the past 13 years, the highest Price to Graham Number ratio of New Hope was 1.90. The lowest was 0.43. And the median was 0.76.
ASX:NHC's Price-to-Graham-Number is ranked worse than 68.29% of 82
companies
in the Other Energy Sources industry
Industry Median: 1.065
vs ASX:NHC: 1.50
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
New Hope (ASX:NHC) 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.
New Hope's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jan. 2026 )
=
5.25
/
3.50
=
1.50
* 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.
New Hope Graham Number Related Terms
New Hope Graham Number Historical Data
* Premium members only.
The historical data trend for New Hope'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 Thermal Coal subindustry, New Hope'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.
New Hope Price-to-Graham-Number vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, New Hope's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where New Hope'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.
New Hope (ASX:NHC) has a Graham Number of A$3.50 as of Jan. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on New Hope and its competitors. This is 361% above median its historical median of 0.76. Over the past decade, New Hope's Graham Number has ranged from 0.43 to 1.90. According to the industry distribution chart, New Hope ranks #56 out of 82 companies in the Other Energy Sources industry, placing it in the top 68.3%.
Is New Hope's Graham Number too high?
New Hope's current Graham Number of A$3.50 is 361% above median its 10-year median of 0.76. Over the past 10 years, this metric has ranged from a low of 0.43 to a high of 1.90. Based on the distribution chart, New Hope ranks #56 out of 82 companies in the Other Energy Sources industry, which is below the industry midpoint. Overall, New Hope has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does New Hope's Graham Number compare to competitors?
According to the Other Energy Sources industry distribution chart, New Hope ranks #56 out of 82 companies for Graham Number. This places New Hope in the lower half of its industry. The industry median Graham Number is 1.07. Historically, New Hope's own Graham Number has ranged from 0.43 to 1.90 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 Other Energy Sources company?
The median Graham Number among Other Energy Sources companies is 1.07, based on 82 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 New Hope and its competitors. For the Other Energy Sources industry, the median Graham Number is 1.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. New Hope's current Graham Number is A$3.50, which is 361% above median its own 10-year median of 0.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Hope stock overvalued right now?
Based on GuruFocus' analysis, New Hope (ASX:NHC) is currently considered Modestly Overvalued. The stock's GF Value™ is A$4.06, compared to a current price of A$5.25 — trading 29.3% above its estimated fair value. The current Graham Number is A$3.50, which is 361% above median its 10-year median of 0.76. New Hope's overall GF Score™ is 69/100 with 6 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 New Hope (ASX:NHC), the current Graham Number is A$3.50 as of Jan. 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 New Hope (ASX:NHC) Overvalued in 2026?
Based on GuruFocus' analysis, New Hope stock appears to be overvalued.
The current stock price of A$5.25 is trading 29.3% above its estimated GF Value™ of A$4.06.
GuruFocus considers New Hope to be Modestly Overvalued.
Key valuation signals for ASX:NHC:
Graham Number: A$3.50 (361% above median its 10-year median of 0.76)
GF Value™: A$4.06 vs. price of A$5.25 (29.3% above fair value)
No single metric tells the full story. See the ASX:NHC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
New Hope Corporation is an Australian thermal coal miner. It has two operating mines: the 100%-owned New Acland coal mine in Queensland and its 80%-owned Bengalla coal mine in New South Wales. The company should sell around 13 million metric tons of thermal coal annually from fiscal 2028, up from around 10.5 million in fiscal 2025, driven by the construction and ramp up of New Acland Stage 3. The vast majority of New Hope's production is sold into seaborne thermal coal export markets. Reserves at New Acland and Bengalla are sufficient to support multidecade mine lives. New Hope also has significant undeveloped coal resources in Queensland, as well as a 23% holding in the Malabar-Maxwell metallurgical coal mine, which began production in 2023.
69GF Score
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