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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.
BKK:ICN'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.64 Med: 0.95 Max: 2.03
Current: 0.77
During the past 12 years, the highest Price to Graham Number ratio of Information and Communication Networks PCL was 2.03. The lowest was 0.64. And the median was 0.95.
BKK:ICN's Price-to-Graham-Number is ranked better than 81.22% of 197
companies
in the Telecommunication Services industry
Industry Median: 1.54
vs BKK:ICN: 0.77
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Information and Communication Networks PCL (BKK:ICN) 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.
Information and Communication Networks PCL's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
2.18
/
2.82
=
0.77
* 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.
Information and Communication Networks PCL Graham Number Related Terms
Information and Communication Networks 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.
Information and Communication Networks PCL Graham Number Chart
Information and Communication Networks PCL Annual Data
For the Telecom Services subindustry, Information and Communication Networks PCL'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.
Information and Communication Networks PCL Price-to-Graham-Number vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Information and Communication Networks PCL's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Information and Communication Networks PCL'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.
Information and Communication Networks PCL (BKK:ICN) has a Graham Number of ฿2.82 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Information and Communication Networks PCL and its competitors. According to the industry distribution chart, Information and Communication Networks PCL ranks #37 out of 197 companies in the Telecommunication Services industry, placing it in the top 18.8%.
Is Information and Communication Networks PCL's Graham Number too high?
Information and Communication Networks PCL's current Graham Number is ฿2.82. Based on the distribution chart, Information and Communication Networks PCL ranks #37 out of 197 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, Information and Communication Networks PCL has a GF Score™ of 75/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Information and Communication Networks PCL's Graham Number compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Information and Communication Networks PCL ranks #37 out of 197 companies for Graham Number. This places Information and Communication Networks PCL in the top 19% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.54. 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 Telecommunication Services company?
The median Graham Number among Telecommunication Services companies is 1.54, based on 197 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 Information and Communication Networks PCL and its competitors. For the Telecommunication Services industry, the median Graham Number is 1.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Information and Communication Networks PCL's current Graham Number is ฿2.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Information and Communication Networks PCL stock overvalued right now?
Based on GuruFocus' analysis, Information and Communication Networks PCL (BKK:ICN) is currently considered Possible Value Trap. The stock's GF Value™ is ฿3.52, compared to a current price of ฿2.18 — trading 38.1% below its estimated fair value. The current Graham Number is ฿2.82. Information and Communication Networks PCL's overall GF Score™ is 75/100 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 Information and Communication Networks PCL (BKK:ICN), the current Graham Number is ฿2.82 as of Jun. 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 Information and Communication Networks PCL (BKK:ICN) Overvalued in 2026?
Based on GuruFocus' analysis, Information and Communication Networks PCL stock appears to be undervalued.
The current stock price of ฿2.18 is trading 38.1% below its estimated GF Value™ of ฿3.52.
GuruFocus considers Information and Communication Networks PCL to be Possible Value Trap.
Key valuation signals for BKK:ICN:
Graham Number: ฿2.82
GF Value™: ฿3.52 vs. price of ฿2.18 (38.1% below fair value)
No single metric tells the full story. See the BKK:ICN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Information and Communication Networks PCL is Engaged in telecommunications engineering business for government agencies, state enterprises and private companies. Its operations are carried only in Thailand. The Company is considered a full-service system integrator. The Company is able to provide design and installation services for telecommunication networks (Telecommunication System), which is a system in which the Company has expertise, as well as providing design and installation services for construction and other electrical systems (Construction and Electrical Systems). In addition, the Company also provides sales services for replacement equipment (Supply) and maintenance services for telecommunication networks (Maintenance).
75GF Score
Get the complete analysis for BKK:ICN
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