KCE Electronics PCLBKK:KCE-R 73 Graham Number is ฿12.66 as of Mar. 2026, which is 100% below its 10-year median of 1.99. GuruFocus rates BKK:KCE-R with a GF Score™ of 73/100 and a GF Value™ of ฿17.61. The stock has 10 warning signs investors should review. Among 1,618 Hardware companies, KCE Electronics PCL ranks worse than 65.76% 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 (2026-06-27), the stock price of KCE Electronics PCL is ฿24.00. KCE Electronics PCL's graham number for the quarter that ended in Mar. 2026 was ฿12.66. Therefore, KCE Electronics PCL's Price to Graham Number ratio for today is 1.90.
The historical rank and industry rank for KCE Electronics PCL's Graham Number or its related term are showing as below:
BKK:KCE-R'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.94 Med: 1.99 Max: 4.12
Current: 3.02
During the past 13 years, the highest Price to Graham Number ratio of KCE Electronics PCL was 4.12. The lowest was 0.94. And the median was 1.99.
BKK:KCE-R's Price-to-Graham-Number is ranked worse than 65.76% of 1618
companies
in the Hardware industry
Industry Median: 2.075
vs BKK:KCE-R: 3.02
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
KCE Electronics PCL (BKK:KCE-R) 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.
KCE Electronics PCL's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
24.00
/
12.66
=
1.90
* 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.
KCE Electronics PCL Graham Number Related Terms
KCE Electronics PCL Graham Number Historical Data
* Premium members only.
The historical data trend for KCE Electronics PCL'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.
BKK:KCE-R vs APH, GLW, TEL: Graham Number Comparison
For the Electronic Components subindustry, KCE Electronics 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.
KCE Electronics PCL Price-to-Graham-Number vs Hardware Industry
For the Hardware industry and Technology sector, KCE Electronics PCL's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where KCE Electronics 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.
KCE Electronics PCL (BKK:KCE-R) has a Graham Number of ฿12.66 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on KCE Electronics PCL and its competitors. This is 536% above median its historical median of 1.99. Over the past decade, KCE Electronics PCL's Graham Number has ranged from 0.94 to 4.12. According to the industry distribution chart, KCE Electronics PCL ranks #1064 out of 1618 companies in the Hardware industry, placing it in the top 65.8%.
Is KCE Electronics PCL's Graham Number too high?
KCE Electronics PCL's current Graham Number of ฿12.66 is 536% above median its 10-year median of 1.99. Over the past 10 years, this metric has ranged from a low of 0.94 to a high of 4.12. Based on the distribution chart, KCE Electronics PCL ranks #1064 out of 1618 companies in the Hardware industry, which is below the industry midpoint. Overall, KCE Electronics PCL has a GF Score™ of 73/100, reflecting its overall financial health beyond just this single metric.
How does KCE Electronics PCL's Graham Number compare to APH and GLW?
According to the Hardware industry distribution chart, KCE Electronics PCL ranks #1064 out of 1618 companies for Graham Number. This places KCE Electronics PCL in the lower half of its industry. The industry median Graham Number is 2.08. Historically, KCE Electronics PCL's own Graham Number has ranged from 0.94 to 4.12 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 2.08, based on 1,618 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 KCE Electronics PCL and its competitors. For the Hardware industry, the median Graham Number is 2.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. KCE Electronics PCL's current Graham Number is ฿12.66, which is 536% above median its own 10-year median of 1.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KCE Electronics PCL stock overvalued right now?
KCE Electronics PCL (BKK:KCE-R) has a current Graham Number of ฿12.66. The stock's GF Value™ is ฿17.61, compared to a current price of ฿24.00 — trading 36.3% above its estimated fair value. The current Graham Number is ฿12.66, which is 536% above median its 10-year median of 1.99. KCE Electronics PCL's overall GF Score™ is 73/100 with 10 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 KCE Electronics PCL (BKK:KCE-R), the current Graham Number is ฿12.66 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 KCE Electronics PCL (BKK:KCE-R) Overvalued in 2026?
Based on GuruFocus' analysis, KCE Electronics PCL stock appears to be overvalued.
The current stock price of ฿24.00 is trading 36.3% above its estimated GF Value™ of ฿17.61.
Key valuation signals for BKK:KCE-R:
Graham Number: ฿12.66 (536% above median its 10-year median of 1.99)
GF Value™: ฿17.61 vs. price of ฿24.00 (36.3% above fair value)
No single metric tells the full story. See the BKK:KCE-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KCE Electronics PCL and its subsidiaries manufacture and distribute printed circuit boards. The company is based in Thailand but earns the majority of its revenue internationally. It has three segments: Manufacturing and distributing of Prepreg and Laminate; Manufacturing and distributing of Printed Circuit Board; and Manufacturing and distributing of Chemical. The company manufactures printed circuit boards that are used in a variety of industries, including automotive, computer, industrial, and telecommunications systems. The company also manufactures and distributes chemicals and laminate products. The majority of its revenue is earned in Europe.
73GF Score
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