Reef Casino TrustASX:RCT -1.08%74 Graham Number is A$1.09 as of Dec. 2025, which is 100% below its 10-year median of 3.00. GuruFocus rates ASX:RCT with a GF Score™ of 74/100 and a GF Value™ of A$3.01 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 493 Travel & Leisure companies, Reef Casino Trust ranks worse than 86.61% 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 (2026-07-13), the stock price of Reef Casino Trust is A$3.68. Reef Casino Trust's graham number for the quarter that ended in Dec. 2025 was A$1.09. Therefore, Reef Casino Trust's Price to Graham Number ratio for today is 3.38.
The historical rank and industry rank for Reef Casino Trust's Graham Number or its related term are showing as below:
ASX:RCT'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 2 Med: 3 Max: 13.1
Current: 3.38
During the past 13 years, the highest Price to Graham Number ratio of Reef Casino Trust was 13.10. The lowest was 2.00. And the median was 3.00.
ASX:RCT's Price-to-Graham-Number is ranked worse than 86.61% of 493
companies
in the Travel & Leisure industry
Industry Median: 1.25
vs ASX:RCT: 3.38
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Reef Casino Trust (ASX:RCT) 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.
Reef Casino Trust's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
3.68
/
1.09
=
3.38
* 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.
Reef Casino Trust Graham Number Related Terms
Reef Casino Trust Graham Number Historical Data
* Premium members only.
The historical data trend for Reef Casino Trust'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.
ASX:RCT vs LVS, MGM, WYNN: Graham Number Comparison
For the Resorts & Casinos subindustry, Reef Casino Trust'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.
Reef Casino Trust Price-to-Graham-Number vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Reef Casino Trust's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Reef Casino Trust'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.
Reef Casino Trust (ASX:RCT) has a Graham Number of A$1.09 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Reef Casino Trust and its competitors. This is 64% below median its historical median of 3.00. Over the past decade, Reef Casino Trust's Graham Number has ranged from 2.00 to 13.10. According to the industry distribution chart, Reef Casino Trust ranks #427 out of 493 companies in the Travel & Leisure industry, placing it in the top 86.6%.
Is Reef Casino Trust's Graham Number too high?
Reef Casino Trust's current Graham Number of A$1.09 is 64% below median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 13.10. Based on the distribution chart, Reef Casino Trust ranks #427 out of 493 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Reef Casino Trust has a GF Score™ of 74/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Reef Casino Trust's Graham Number compare to LVS and MGM?
According to the Travel & Leisure industry distribution chart, Reef Casino Trust ranks #427 out of 493 companies for Graham Number. This places Reef Casino Trust in the lower half of its industry. The industry median Graham Number is 1.25. Historically, Reef Casino Trust's own Graham Number has ranged from 2.00 to 13.10 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 Travel & Leisure company?
The median Graham Number among Travel & Leisure companies is 1.25, based on 493 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 Reef Casino Trust and its competitors. For the Travel & Leisure industry, the median Graham Number is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Reef Casino Trust's current Graham Number is A$1.09, which is 64% below median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Reef Casino Trust stock overvalued right now?
Based on GuruFocus' analysis, Reef Casino Trust (ASX:RCT) is currently considered Modestly Overvalued. The stock's GF Value™ is A$3.01, compared to a current price of A$3.68 — trading 22.3% above its estimated fair value. The current Graham Number is A$1.09, which is 64% below median its 10-year median of 3.00. Reef Casino Trust's overall GF Score™ is 74/100 with 9 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 Reef Casino Trust (ASX:RCT), the current Graham Number is A$1.09 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 Reef Casino Trust (ASX:RCT) Overvalued in 2026?
Based on GuruFocus' analysis, Reef Casino Trust stock appears to be overvalued.
The current stock price of A$3.68 is trading 22.3% above its estimated GF Value™ of A$3.01.
GuruFocus considers Reef Casino Trust to be Modestly Overvalued.
Key valuation signals for ASX:RCT:
Graham Number: A$1.09 (64% below median its 10-year median of 3.00)
GF Value™: A$3.01 vs. price of A$3.68 (22.3% above fair value)
No single metric tells the full story. See the ASX:RCT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Reef Casino Trust is engaged in the operation of the Reef Hotel-Casino Complex located in Cairns, Queensland, Australia. The company derives revenue from the casino, which includes electronic gaming and table games, and the hotel, which includes room accommodation and food and beverage, and others. The majority of the revenue is generated from the rental income received from the casino operations. The company operates in two segments, which includes Casino operations and Hotel segment.
74GF Score
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