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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.
The historical rank and industry rank for S Prime Growth Leasehold REIT's Graham Number or its related term are showing as below:
BKK:SPRIME'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.28 Med: 0.54 Max: 1.12
Current: 0.37
During the past 7 years, the highest Price to Graham Number ratio of S Prime Growth Leasehold REIT was 1.12. The lowest was 0.28. And the median was 0.54.
BKK:SPRIME's Price-to-Graham-Number is ranked better than 90.78% of 727
companies
in the REITs industry
Industry Median: 0.72
vs BKK:SPRIME: 0.37
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
S Prime Growth Leasehold REIT (BKK:SPRIME) 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.
S Prime Growth Leasehold REIT's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
4.32
/
11.67
=
0.37
* 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.
S Prime Growth Leasehold REIT Graham Number Related Terms
S Prime Growth Leasehold REIT 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:SPRIME vs VICI, WPC, BNL: Graham Number Comparison
For the REIT - Diversified subindustry, S Prime Growth Leasehold REIT'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.
S Prime Growth Leasehold REIT Price-to-Graham-Number vs REITs Industry
For the REITs industry and Real Estate sector, S Prime Growth Leasehold REIT's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where S Prime Growth Leasehold REIT'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.
S Prime Growth Leasehold REIT (BKK:SPRIME) has a Graham Number of ฿11.67 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on S Prime Growth Leasehold REIT and its competitors. According to the industry distribution chart, S Prime Growth Leasehold REIT ranks #67 out of 727 companies in the REITs industry, placing it in the top 9.2%.
Is S Prime Growth Leasehold REIT's Graham Number too high?
S Prime Growth Leasehold REIT's current Graham Number is ฿11.67. Based on the distribution chart, S Prime Growth Leasehold REIT ranks #67 out of 727 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, S Prime Growth Leasehold REIT has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does S Prime Growth Leasehold REIT's Graham Number compare to VICI and WPC?
According to the REITs industry distribution chart, S Prime Growth Leasehold REIT ranks #67 out of 727 companies for Graham Number. This places S Prime Growth Leasehold REIT in the top 9% of its industry — outperforming the majority of peers. The industry median Graham Number is 0.72. 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 REITs company?
The median Graham Number among REITs companies is 0.72, based on 727 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 S Prime Growth Leasehold REIT and its competitors. For the REITs industry, the median Graham Number is 0.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. S Prime Growth Leasehold REIT's current Graham Number is ฿11.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is S Prime Growth Leasehold REIT stock overvalued right now?
Based on GuruFocus' analysis, S Prime Growth Leasehold REIT (BKK:SPRIME) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿3.75, compared to a current price of ฿4.32 — trading 15.2% above its estimated fair value. The current Graham Number is ฿11.67. S Prime Growth Leasehold REIT's overall GF Score™ is 72/100 with 7 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 S Prime Growth Leasehold REIT (BKK:SPRIME), the current Graham Number is ฿11.67 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 S Prime Growth Leasehold REIT (BKK:SPRIME) Overvalued in 2026?
Based on GuruFocus' analysis, S Prime Growth Leasehold REIT stock appears to be overvalued.
The current stock price of ฿4.32 is trading 15.2% above its estimated GF Value™ of ฿3.75.
GuruFocus considers S Prime Growth Leasehold REIT to be Modestly Overvalued.
Key valuation signals for BKK:SPRIME:
Graham Number: ฿11.67
GF Value™: ฿3.75 vs. price of ฿4.32 (15.2% above fair value)
No single metric tells the full story. See the BKK:SPRIME stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
S Prime Growth Leasehold REIT is engaged in investing mostly in property or property leasehold rights and generating benefits from such properties for the benefit of the property, and creating revenue and return for the Trust and the unitholders. It mainly invests in the right to lease certain land plots and office spaces, conference spaces, common areas, parking areas, and building systems of Suntowers Complex for a specific term of years. The Trust operates in a single reportable operating segment, which is the investment in leasehold rights on properties, and the sole geographical area of its operations is Thailand.
72GF Score
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