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Bell EquipmentBLLQF 49 Graham Number is $4.09 as of Dec. 2025, which is 1219% above its 10-year median of 0.31. GuruFocus rates BLLQF with a GF Score™ of 49/100 and a GF Value™ of $0.99 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 162 Farm & Heavy Construction Machinery companies, Bell Equipment ranks better than 90.12% 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 (2026-07-15), the stock price of Bell Equipment is $2.30. Bell Equipment's graham number for the quarter that ended in Dec. 2025 was $4.09. Therefore, Bell Equipment's Price to Graham Number ratio for today is 0.56.
The historical rank and industry rank for Bell Equipment's Graham Number or its related term are showing as below:
BLLQF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.25 Med: 0.31 Max: 0.71
Current: 0.53
During the past 13 years, the highest Price to Graham Number ratio of Bell Equipment was 0.71. The lowest was 0.25. And the median was 0.31.
BLLQF's Price-to-Graham-Number is ranked better than 90.12% of 162
companies
in the Farm & Heavy Construction Machinery industry
Industry Median: 1.18
vs BLLQF: 0.53
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Bell Equipment (OTCPK:BLLQF) 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.
Bell Equipment's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
2.30
/
4.09
=
0.56
* 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.
Bell Equipment Graham Number Related Terms
Bell Equipment Graham Number Historical Data
* Premium members only.
The historical data trend for Bell Equipment'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.
For the Farm & Heavy Construction Machinery subindustry, Bell Equipment'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.
Bell Equipment Price-to-Graham-Number vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Bell Equipment's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Bell Equipment'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.
Bell Equipment (BLLQF) has a Graham Number of $4.09 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Bell Equipment and its competitors. This is 1219% above median its historical median of 0.31. Over the past decade, Bell Equipment's Graham Number has ranged from 0.25 to 0.71. According to the industry distribution chart, Bell Equipment ranks #16 out of 162 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 9.9%.
Is Bell Equipment's Graham Number too high?
Bell Equipment's current Graham Number of $4.09 is 1219% above median its 10-year median of 0.31. Over the past 10 years, this metric has ranged from a low of 0.25 to a high of 0.71. The Farm & Heavy Construction Machinery industry median Graham Number is 1.18. Bell Equipment's value of $4.09 is 246.6% above this industry median. Based on the distribution chart, Bell Equipment ranks #16 out of 162 companies in the Farm & Heavy Construction Machinery industry, which is in the top quartile — a strong position relative to peers. Overall, Bell Equipment has a GF Score™ of 49/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bell Equipment's Graham Number compare to CAT and DE?
According to the Farm & Heavy Construction Machinery industry distribution chart, Bell Equipment ranks #16 out of 162 companies for Graham Number. This places Bell Equipment in the top 10% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.18. Bell Equipment's value of $4.09 is 246.6% above this benchmark. Historically, Bell Equipment's own Graham Number has ranged from 0.25 to 0.71 over the past decade. While the company's 10-year median is 0.31 vs. the industry median of 1.18, Bell Equipment has consistently been above the industry average. 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 Farm & Heavy Construction Machinery company?
The median Graham Number among Farm & Heavy Construction Machinery companies is 1.18, based on 162 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. Bell Equipment's current Graham Number of $4.09 is 246.6% above the industry median. 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 Bell Equipment and its competitors. For the Farm & Heavy Construction Machinery industry, the median Graham Number is 1.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bell Equipment's current Graham Number is $4.09, which is 1219% above median its own 10-year median of 0.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bell Equipment stock overvalued right now?
Based on GuruFocus' analysis, Bell Equipment (BLLQF) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.99, compared to a current price of $2.30 — trading 132.3% above its estimated fair value. The current Graham Number is $4.09, which is 1219% above median its 10-year median of 0.31 and 246.6% above the Farm & Heavy Construction Machinery industry median of 1.18. Bell Equipment's overall GF Score™ is 49/100 with 3 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 Bell Equipment (BLLQF), the current Graham Number is $4.09 as of Dec. 2025. 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 Bell Equipment (BLLQF) Overvalued in 2026?
Based on GuruFocus' analysis, Bell Equipment stock appears to be overvalued.
The current stock price of $2.30 is trading 132.3% above its estimated GF Value™ of $0.99.
GuruFocus considers Bell Equipment to be Significantly Overvalued.
Key valuation signals for BLLQF:
Graham Number: $4.09 (1219% above median its 10-year median of 0.31)
GF Value™: $0.99 vs. price of $2.30 (132.3% above fair value)
Industry Position: 246.6% above the Farm & Heavy Construction Machinery median (#16 of 162)
No single metric tells the full story. See the BLLQF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bell Equipment Ltd designs and manufactures a wide Collection of products. This includes a complete range of Bell forestry and agriculture products. It seeks to develop and support local suppliers and invests in outreach initiatives with a focus on education, training, and development both internally and externally. It conducts two main business operations Manufacturing, assembly, logistics and dealer sales operations which is OEM operations comprising manufacturing, assembly and sales of equipment and aftermarket products to independent dealers for their distribution to market; and Direct Sales operations which is owned distribution operations for direct sales of own manufactured products, other third party products and the supply of aftermarket support and products to market.
49GF Score
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