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Siam Wellness Group PCLBKK:SPA 79 Graham Number is ฿1.86 as of Mar. 2026, which is 100% below its 10-year median of 3.95. GuruFocus rates BKK:SPA with a GF Score™ of 79/100 and a GF Value™ of ฿7.96 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 52 Personal Services companies, Siam Wellness Group PCL ranks worse than 71.15% 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.
Siam Wellness Group PCL (BKK:SPA) 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.
Siam Wellness Group PCL's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
3.18
/
1.86
=
1.71
* 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.
Siam Wellness Group PCL Graham Number Related Terms
Siam Wellness Group 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.
BKK:SPA vs ROL, SCI, HRB: Graham Number Comparison
For the Personal Services subindustry, Siam Wellness Group 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.
Siam Wellness Group PCL Price-to-Graham-Number vs Personal Services Industry
For the Personal Services industry and Consumer Cyclical sector, Siam Wellness Group PCL's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Siam Wellness Group 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.
Siam Wellness Group PCL (BKK:SPA) has a Graham Number of ฿1.86 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Siam Wellness Group PCL and its competitors. This is 53% below median its historical median of 3.95. Over the past decade, Siam Wellness Group PCL's Graham Number has ranged from 1.52 to 18.46. According to the industry distribution chart, Siam Wellness Group PCL ranks #37 out of 52 companies in the Personal Services industry, placing it in the top 71.2%.
Is Siam Wellness Group PCL's Graham Number too high?
Siam Wellness Group PCL's current Graham Number of ฿1.86 is 53% below median its 10-year median of 3.95. Over the past 10 years, this metric has ranged from a low of 1.52 to a high of 18.46. Based on the distribution chart, Siam Wellness Group PCL ranks #37 out of 52 companies in the Personal Services industry, which is below the industry midpoint. Overall, Siam Wellness Group PCL has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Siam Wellness Group PCL's Graham Number compare to ROL and SCI?
According to the Personal Services industry distribution chart, Siam Wellness Group PCL ranks #37 out of 52 companies for Graham Number. This places Siam Wellness Group PCL in the lower half of its industry. The industry median Graham Number is 1.13. Historically, Siam Wellness Group PCL's own Graham Number has ranged from 1.52 to 18.46 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 Personal Services company?
The median Graham Number among Personal Services companies is 1.13, based on 52 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 Siam Wellness Group PCL and its competitors. For the Personal Services industry, the median Graham Number is 1.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Siam Wellness Group PCL's current Graham Number is ฿1.86, which is 53% below median its own 10-year median of 3.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Siam Wellness Group PCL stock overvalued right now?
Based on GuruFocus' analysis, Siam Wellness Group PCL (BKK:SPA) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿7.96, compared to a current price of ฿3.18 — trading 60.1% below its estimated fair value. The current Graham Number is ฿1.86, which is 53% below median its 10-year median of 3.95. Siam Wellness Group PCL's overall GF Score™ is 79/100 with 2 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 Siam Wellness Group PCL (BKK:SPA), the current Graham Number is ฿1.86 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 Siam Wellness Group PCL (BKK:SPA) Overvalued in 2026?
Based on GuruFocus' analysis, Siam Wellness Group PCL stock appears to be undervalued.
The current stock price of ฿3.18 is trading 60.1% below its estimated GF Value™ of ฿7.96.
GuruFocus considers Siam Wellness Group PCL to be Significantly Undervalued.
Key valuation signals for BKK:SPA:
Graham Number: ฿1.86 (53% below median its 10-year median of 3.95)
GF Value™: ฿7.96 vs. price of ฿3.18 (60.1% below fair value)
No single metric tells the full story. See the BKK:SPA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Siam Wellness Group PCL is a Thailand-based company and is principally engaged in the spa business. The business is organized into three segments: Spa services, which operates day spa and destination spa. Also, provides spa management and spa consultancy services; Sales of spa products and healthy products, which distributes natural spa products both and spa equipment for domestic and international markets. and Hotel and restaurant which operates boutique resorts and restaurants. Key revenue is earned from providing spa services. The Group operates in Thailand.
79GF Score
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