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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.
Tata Steel Thailand PCL (BKK:TSTH) 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.
Tata Steel Thailand PCL's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
0.97
/
2.63
=
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.
Tata Steel Thailand PCL Graham Number Related Terms
Tata Steel Thailand 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:TSTH vs NUE, STLD, RS: Graham Number Comparison
For the Steel subindustry, Tata Steel Thailand 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.
Tata Steel Thailand PCL Price-to-Graham-Number vs Steel Industry
For the Steel industry and Basic Materials sector, Tata Steel Thailand PCL's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Tata Steel Thailand 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.
Tata Steel Thailand PCL (BKK:TSTH) has a Graham Number of ฿2.63 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Tata Steel Thailand PCL and its competitors. According to the industry distribution chart, Tata Steel Thailand PCL ranks #47 out of 434 companies in the Steel industry, placing it in the top 10.8%.
Is Tata Steel Thailand PCL's Graham Number too high?
Tata Steel Thailand PCL's current Graham Number is ฿2.63. Based on the distribution chart, Tata Steel Thailand PCL ranks #47 out of 434 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Tata Steel Thailand PCL has a GF Score™ of 53/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tata Steel Thailand PCL's Graham Number compare to NUE and STLD?
According to the Steel industry distribution chart, Tata Steel Thailand PCL ranks #47 out of 434 companies for Graham Number. This places Tata Steel Thailand PCL in the top 11% of its industry — outperforming the majority of peers. The industry median Graham Number is 0.95. 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 Steel company?
The median Graham Number among Steel companies is 0.95, based on 434 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 Tata Steel Thailand PCL and its competitors. For the Steel industry, the median Graham Number is 0.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tata Steel Thailand PCL's current Graham Number is ฿2.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tata Steel Thailand PCL stock overvalued right now?
Based on GuruFocus' analysis, Tata Steel Thailand PCL (BKK:TSTH) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿0.76, compared to a current price of ฿0.97 — trading 27.6% above its estimated fair value. The current Graham Number is ฿2.63. Tata Steel Thailand PCL's overall GF Score™ is 53/100 with 6 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 Tata Steel Thailand PCL (BKK:TSTH), the current Graham Number is ฿2.63 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 Tata Steel Thailand PCL (BKK:TSTH) Overvalued in 2026?
Based on GuruFocus' analysis, Tata Steel Thailand PCL stock appears to be overvalued.
The current stock price of ฿0.97 is trading 27.6% above its estimated GF Value™ of ฿0.76.
GuruFocus considers Tata Steel Thailand PCL to be Modestly Overvalued.
Key valuation signals for BKK:TSTH:
Graham Number: ฿2.63
GF Value™: ฿0.76 vs. price of ฿0.97 (27.6% above fair value)
No single metric tells the full story. See the BKK:TSTH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tata Steel Thailand PCL is a Thailand-based holding company that is engaged in investing in other companies and providing management services. The company is engaged in manufacturing, rendering manufacturing services, distributing, and trading of steel bars, wire rods, and small-section products through its subsidiaries. The company operates in a single segment, being the Manufacturing and distribution of long steel products. Its product line includes rebar, deformed bar, round bar, cut and bend bars, wire rods, including high carbon wire rods and low carbon, special wire rods, and others.
53GF Score
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