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Barings BDCBBDC +0.49%67 Graham Number is $14.51 as of Mar. 2026, which is 2359% above its 10-year median of 0.59. GuruFocus rates BBDC with a GF Score™ of 67/100 and a GF Value™ of $8.66 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,168 Asset Management companies, Barings BDC ranks better than 66.78% 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 (2026-07-25), the stock price of Barings BDC is $8.23. Barings BDC's graham number for the quarter that ended in Mar. 2026 was $14.51. Therefore, Barings BDC's Price to Graham Number ratio for today is 0.57.
The historical rank and industry rank for Barings BDC's Graham Number or its related term are showing as below:
BBDC'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.37 Med: 0.59 Max: 1.99
Current: 0.57
During the past 13 years, the highest Price to Graham Number ratio of Barings BDC was 1.99. The lowest was 0.37. And the median was 0.59.
BBDC's Price-to-Graham-Number is ranked better than 66.78% of 1168
companies
in the Asset Management industry
Industry Median: 0.7
vs BBDC: 0.57
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Barings BDC (NYSE:BBDC) 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.
Barings BDC's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
8.23
/
14.51
=
0.57
* 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.
Barings BDC Graham Number Related Terms
Barings BDC Graham Number Historical Data
* Premium members only.
The historical data trend for Barings BDC'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, Barings BDC'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.
Barings BDC Price-to-Graham-Number vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Barings BDC's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Barings BDC'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.
Barings BDC (BBDC) has a Graham Number of $14.51 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Barings BDC and its competitors. This is 2359% above median its historical median of 0.59. Over the past decade, Barings BDC's Graham Number has ranged from 0.37 to 1.99. According to the industry distribution chart, Barings BDC ranks #388 out of 1168 companies in the Asset Management industry, placing it in the top 33.2%.
Is Barings BDC's Graham Number too high?
Barings BDC's current Graham Number of $14.51 is 2359% above median its 10-year median of 0.59. Over the past 10 years, this metric has ranged from a low of 0.37 to a high of 1.99. The Asset Management industry median Graham Number is 0.70. Barings BDC's value of $14.51 is 1972.9% above this industry median. Based on the distribution chart, Barings BDC ranks #388 out of 1168 companies in the Asset Management industry, which is above the industry midpoint. Overall, Barings BDC has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Barings BDC's Graham Number compare to PHK and OXLC?
According to the Asset Management industry distribution chart, Barings BDC ranks #388 out of 1168 companies for Graham Number. This puts Barings BDC in the upper half of its industry. The industry median Graham Number is 0.70. Barings BDC's value of $14.51 is 1972.9% above this benchmark. Historically, Barings BDC's own Graham Number has ranged from 0.37 to 1.99 over the past decade. While the company's 10-year median is 0.59 vs. the industry median of 0.70, Barings BDC has consistently been above the industry average. 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 1,168 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. Barings BDC's current Graham Number of $14.51 is 1972.9% 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 Barings BDC 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. Barings BDC's current Graham Number is $14.51, which is 2359% above median its own 10-year median of 0.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Barings BDC stock overvalued right now?
Based on GuruFocus' analysis, Barings BDC (BBDC) is currently considered Fairly Valued. The stock's GF Value™ is $8.66, compared to a current price of $8.23 — trading 5% below its estimated fair value. The current Graham Number is $14.51, which is 2359% above median its 10-year median of 0.59 and 1972.9% above the Asset Management industry median of 0.70. Barings BDC's overall GF Score™ is 67/100 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 Barings BDC (BBDC), the current Graham Number is $14.51 as of Mar. 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 Barings BDC (BBDC) Overvalued in 2026?
Based on GuruFocus' analysis, Barings BDC stock appears to be undervalued.
The current stock price of $8.23 is trading 5% below its estimated GF Value™ of $8.66.
GuruFocus considers Barings BDC to be Fairly Valued.
Key valuation signals for BBDC:
Graham Number: $14.51 (2359% above median its 10-year median of 0.59)
GF Value™: $8.66 vs. price of $8.23 (5% below fair value)
Industry Position: 1972.9% above the Asset Management median (#388 of 1168)
No single metric tells the full story. See the BBDC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Barings BDC Inc operates as a closed-end, non-diversified investment company and has elected to be treated as a business development company. The company's investment objective is to generate current income by investing directly in privately held middle-market companies to help these companies fund acquisitions, growth, or refinancing. It employs fundamental credit analysis and targets investments in businesses with low levels of cyclicality and operating risk relative to other businesses in this market segment. The holding size of each position will generally be dependent upon a number of factors including total facility size, pricing and structure, and the number of other lenders in the facility.
67GF Score
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