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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.
Asia Medical and Agricultural Laboratory and Research Center PCL (BKK:AMARC) 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.
Asia Medical and Agricultural Laboratory and Research Center PCL's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
2.92
/
3.45
=
0.85
* 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.
Asia Medical and Agricultural Laboratory and Research Center PCL Graham Number Related Terms
Asia Medical and Agricultural Laboratory and Research Center PCL 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.
Asia Medical and Agricultural Laboratory and Research Center PCL Graham Number Chart
Asia Medical and Agricultural Laboratory and Research Center PCL Annual Data
* 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.
Asia Medical and Agricultural Laboratory and Research Center PCL Price-to-Graham-Number vs Hardware Industry
* 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.
Asia Medical and Agricultural Laboratory and Research Center PCL (BKK:AMARC) has a Graham Number of ฿3.45 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Asia Medical and Agricultural Laboratory and Research Center PCL and its competitors. This is 203% above median its historical median of 1.14. Over the past decade, Asia Medical and Agricultural Laboratory and Research Center PCL's Graham Number has ranged from 0.62 to 2.87. According to the industry distribution chart, Asia Medical and Agricultural Laboratory and Research Center PCL ranks #307 out of 1592 companies in the Hardware industry, placing it in the top 19.3%.
Is Asia Medical and Agricultural Laboratory and Research Center PCL's Graham Number too high?
Asia Medical and Agricultural Laboratory and Research Center PCL's current Graham Number of ฿3.45 is 203% above median its 10-year median of 1.14. Over the past 10 years, this metric has ranged from a low of 0.62 to a high of 2.87. Based on the distribution chart, Asia Medical and Agricultural Laboratory and Research Center PCL ranks #307 out of 1592 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Asia Medical and Agricultural Laboratory and Research Center PCL has a GF Score™ of 91/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Asia Medical and Agricultural Laboratory and Research Center PCL's Graham Number compare to COHR and KEYS?
According to the Hardware industry distribution chart, Asia Medical and Agricultural Laboratory and Research Center PCL ranks #307 out of 1592 companies for Graham Number. This places Asia Medical and Agricultural Laboratory and Research Center PCL in the top 19% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.91. Historically, Asia Medical and Agricultural Laboratory and Research Center PCL's own Graham Number has ranged from 0.62 to 2.87 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 Hardware company?
The median Graham Number among Hardware companies is 1.91, based on 1,592 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 Asia Medical and Agricultural Laboratory and Research Center PCL and its competitors. For the Hardware industry, the median Graham Number is 1.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asia Medical and Agricultural Laboratory and Research Center PCL's current Graham Number is ฿3.45, which is 203% above median its own 10-year median of 1.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asia Medical and Agricultural Laboratory and Research Center PCL stock overvalued right now?
Based on GuruFocus' analysis, Asia Medical and Agricultural Laboratory and Research Center PCL (BKK:AMARC) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿2.61, compared to a current price of ฿2.92 — trading 11.9% above its estimated fair value. The current Graham Number is ฿3.45, which is 203% above median its 10-year median of 1.14. Asia Medical and Agricultural Laboratory and Research Center PCL's overall GF Score™ is 91/100 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 Asia Medical and Agricultural Laboratory and Research Center PCL (BKK:AMARC), the current Graham Number is ฿3.45 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 Asia Medical and Agricultural Laboratory and Research Center PCL (BKK:AMARC) Overvalued in 2026?
Based on GuruFocus' analysis, Asia Medical and Agricultural Laboratory and Research Center PCL stock appears to be overvalued.
The current stock price of ฿2.92 is trading 11.9% above its estimated GF Value™ of ฿2.61.
GuruFocus considers Asia Medical and Agricultural Laboratory and Research Center PCL to be Modestly Overvalued.
Key valuation signals for BKK:AMARC:
Graham Number: ฿3.45 (203% above median its 10-year median of 1.14)
GF Value™: ฿2.61 vs. price of ฿2.92 (11.9% above fair value)
No single metric tells the full story. See the BKK:AMARC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asia Medical and Agricultural Laboratory and Research Center PCL is engaged in providing comprehensive scientific services for the agriculture, food, pharmaceutical and environment sectors including testing, calibration, inspection and certification according to international quality standards. The company geographically operates only in Thailand.
91GF Score
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