What is Bain Capital Specialty Finance Graham Number?
Bain Capital Specialty FinanceBCSF +2.47%59 Graham Number is $20.79 as of Mar. 2026, which is 3484% above its 10-year median of 0.58. GuruFocus rates BCSF with a GF Score™ of 59/100 and a GF Value™ of $10.21 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 1,171 Asset Management companies, Bain Capital Specialty Finance ranks better than 59.52% 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 Bain Capital Specialty Finance's Graham Number or its related term are showing as below:
BCSF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.47 Med: 0.58 Max: 0.82
Current: 0.62
During the past 10 years, the highest Price to Graham Number ratio of Bain Capital Specialty Finance was 0.82. The lowest was 0.47. And the median was 0.58.
BCSF's Price-to-Graham-Number is ranked better than 59.52% of 1171
companies
in the Asset Management industry
Industry Median: 0.71
vs BCSF: 0.62
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Bain Capital Specialty Finance (NYSE:BCSF) 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.
Bain Capital Specialty Finance's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
12.86
/
20.79
=
0.62
* 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.
Bain Capital Specialty Finance Graham Number Related Terms
Bain Capital Specialty Finance 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.
Bain Capital Specialty Finance Graham Number Chart
For the Asset Management subindustry, Bain Capital Specialty Finance'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.
Bain Capital Specialty Finance Price-to-Graham-Number vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Bain Capital Specialty Finance's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Bain Capital Specialty Finance'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.
Bain Capital Specialty Finance (BCSF) has a Graham Number of $20.79 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Bain Capital Specialty Finance and its competitors. This is 3484% above median its historical median of 0.58. Over the past decade, Bain Capital Specialty Finance's Graham Number has ranged from 0.47 to 0.82. According to the industry distribution chart, Bain Capital Specialty Finance ranks #474 out of 1171 companies in the Asset Management industry, placing it in the top 40.5%.
Is Bain Capital Specialty Finance's Graham Number too high?
Bain Capital Specialty Finance's current Graham Number of $20.79 is 3484% above median its 10-year median of 0.58. Over the past 10 years, this metric has ranged from a low of 0.47 to a high of 0.82. The Asset Management industry median Graham Number is 0.71. Bain Capital Specialty Finance's value of $20.79 is 2828.2% above this industry median. Based on the distribution chart, Bain Capital Specialty Finance ranks #474 out of 1171 companies in the Asset Management industry, which is above the industry midpoint. Overall, Bain Capital Specialty Finance has a GF Score™ of 59/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bain Capital Specialty Finance's Graham Number compare to EOI and MFIC?
According to the Asset Management industry distribution chart, Bain Capital Specialty Finance ranks #474 out of 1171 companies for Graham Number. This puts Bain Capital Specialty Finance in the upper half of its industry. The industry median Graham Number is 0.71. Bain Capital Specialty Finance's value of $20.79 is 2828.2% above this benchmark. Historically, Bain Capital Specialty Finance's own Graham Number has ranged from 0.47 to 0.82 over the past decade. While the company's 10-year median is 0.58 vs. the industry median of 0.71, Bain Capital Specialty Finance 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 0.71, based on 1,171 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. Bain Capital Specialty Finance's current Graham Number of $20.79 is 2828.2% 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 Bain Capital Specialty Finance and its competitors. For the Asset Management industry, the median Graham Number is 0.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bain Capital Specialty Finance's current Graham Number is $20.79, which is 3484% above median its own 10-year median of 0.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bain Capital Specialty Finance stock overvalued right now?
Based on GuruFocus' analysis, Bain Capital Specialty Finance (BCSF) is currently considered Modestly Overvalued. The stock's GF Value™ is $10.21, compared to a current price of $12.86 — trading 26% above its estimated fair value. The current Graham Number is $20.79, which is 3484% above median its 10-year median of 0.58 and 2828.2% above the Asset Management industry median of 0.71. Bain Capital Specialty Finance's overall GF Score™ is 59/100 with 8 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 Bain Capital Specialty Finance (BCSF), the current Graham Number is $20.79 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 Bain Capital Specialty Finance (BCSF) Overvalued in 2026?
Based on GuruFocus' analysis, Bain Capital Specialty Finance stock appears to be overvalued.
The current stock price of $12.86 is trading 26% above its estimated GF Value™ of $10.21.
GuruFocus considers Bain Capital Specialty Finance to be Modestly Overvalued.
Key valuation signals for BCSF:
Graham Number: $20.79 (3484% above median its 10-year median of 0.58)
GF Value™: $10.21 vs. price of $12.86 (26% above fair value)
Industry Position: 2828.2% above the Asset Management median (#474 of 1171)
No single metric tells the full story. See the BCSF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bain Capital Specialty Finance Business Description
Bain Capital Specialty Finance Inc is an externally managed, closed-end, non-diversified management investment company. The company's objective is to provide risk-adjusted returns and current income to investors by investing in middle-market companies. Its portfolio of investments includes First Lien Senior Secured Loan, Preferred Equity, Equity Interest, Warrants, and Second Lien Senior Secured Loan, and others.
59GF Score
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