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BJ's Wholesale Club HoldingsBJ +0.55%85 Graham Number is $28.29 as of Apr. 2026, which is 546% above its 10-year median of 4.38. GuruFocus rates BJ with a GF Score™ of 85/100 and a GF Value™ of $99.46 (Fairly Valued). The stock has 1 warning sign investors should review. Among 239 Retail - Defensive companies, BJ's Wholesale Club Holdings ranks worse than 87.03% 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 BJ's Wholesale Club Holdings's Graham Number or its related term are showing as below:
BJ'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 3.12 Med: 4.38 Max: 30.79
Current: 3.32
During the past 11 years, the highest Price to Graham Number ratio of BJ's Wholesale Club Holdings was 30.79. The lowest was 3.12. And the median was 4.38.
BJ's Price-to-Graham-Number is ranked worse than 87.03% of 239
companies
in the Retail - Defensive industry
Industry Median: 1.33
vs BJ: 3.32
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
BJ's Wholesale Club Holdings (NYSE:BJ) 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.
BJ's Wholesale Club Holdings's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Apr. 2026 )
=
93.91
/
28.29
=
3.32
* 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.
BJ's Wholesale Club Holdings Graham Number Related Terms
BJ's Wholesale Club Holdings 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.
For the Discount Stores subindustry, BJ's Wholesale Club Holdings'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.
BJ's Wholesale Club Holdings Price-to-Graham-Number vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, BJ's Wholesale Club Holdings's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where BJ's Wholesale Club Holdings'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.
BJ's Wholesale Club Holdings (BJ) has a Graham Number of $28.29 as of Apr. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on BJ's Wholesale Club Holdings and its competitors. This is 546% above median its historical median of 4.38. Over the past decade, BJ's Wholesale Club Holdings' Graham Number has ranged from 3.12 to 30.79. According to the industry distribution chart, BJ's Wholesale Club Holdings ranks #208 out of 239 companies in the Retail - Defensive industry, placing it in the top 87%.
Is BJ's Wholesale Club Holdings' Graham Number too high?
BJ's Wholesale Club Holdings' current Graham Number of $28.29 is 546% above median its 10-year median of 4.38. Over the past 10 years, this metric has ranged from a low of 3.12 to a high of 30.79. The Retail - Defensive industry median Graham Number is 1.33. BJ's Wholesale Club Holdings' value of $28.29 is 2027.1% above this industry median. Based on the distribution chart, BJ's Wholesale Club Holdings ranks #208 out of 239 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, BJ's Wholesale Club Holdings has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does BJ's Wholesale Club Holdings' Graham Number compare to PSMT and TBBB?
According to the Retail - Defensive industry distribution chart, BJ's Wholesale Club Holdings ranks #208 out of 239 companies for Graham Number. This places BJ's Wholesale Club Holdings in the lower half of its industry. The industry median Graham Number is 1.33. BJ's Wholesale Club Holdings' value of $28.29 is 2027.1% above this benchmark. Historically, BJ's Wholesale Club Holdings' own Graham Number has ranged from 3.12 to 30.79 over the past decade. While the company's 10-year median is 4.38 vs. the industry median of 1.33, BJ's Wholesale Club Holdings 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 a Retail - Defensive company?
The median Graham Number among Retail - Defensive companies is 1.33, based on 239 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. BJ's Wholesale Club Holdings's current Graham Number of $28.29 is 2027.1% 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 BJ's Wholesale Club Holdings and its competitors. For the Retail - Defensive industry, the median Graham Number is 1.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BJ's Wholesale Club Holdings's current Graham Number is $28.29, which is 546% above median its own 10-year median of 4.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BJ's Wholesale Club Holdings stock overvalued right now?
Based on GuruFocus' analysis, BJ's Wholesale Club Holdings (BJ) is currently considered Fairly Valued. The stock's GF Value™ is $99.46, compared to a current price of $93.91 — trading 5.6% below its estimated fair value. The current Graham Number is $28.29, which is 546% above median its 10-year median of 4.38 and 2027.1% above the Retail - Defensive industry median of 1.33. BJ's Wholesale Club Holdings' overall GF Score™ is 85/100 with 1 warning sign 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 BJ's Wholesale Club Holdings (BJ), the current Graham Number is $28.29 as of Apr. 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 BJ's Wholesale Club Holdings (BJ) Overvalued in 2026?
Based on GuruFocus' analysis, BJ's Wholesale Club Holdings stock appears to be undervalued.
The current stock price of $93.91 is trading 5.6% below its estimated GF Value™ of $99.46.
GuruFocus considers BJ's Wholesale Club Holdings to be Fairly Valued.
Key valuation signals for BJ:
Graham Number: $28.29 (546% above median its 10-year median of 4.38)
GF Value™: $99.46 vs. price of $93.91 (5.6% below fair value)
Industry Position: 2027.1% above the Retail - Defensive median (#208 of 239)
No single metric tells the full story. See the BJ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BJ's Wholesale Club, founded in 1984, operates a membership-based warehouse club model primarily along the US East Coast, with roughly 260 clubs and a growing domestic presence across 21 states. In fiscal 2025, the company generated over $21 billion in revenue. BJ's offers a value-oriented assortment skewed toward grocery, perishables, and consumables (72% of sales), general merchandise (11%), and gasoline (17%). Its business model is supported by recurring membership fee income and private-label brands such as Wellsley Farms and Berkley Jensen.
85GF Score
Get the complete analysis for BJ
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