Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Celsia EspBOG:CELSIA -0.62%65 Graham Number is COP3,151.16 as of Mar. 2026, which is 100% below its 10-year median of 1.08. GuruFocus rates BOG:CELSIA with a GF Score™ of 65/100 and a GF Value™ of COP3,205.93 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 277 Utilities - Independent Power Producers companies, Celsia Esp ranks worse than 62.45% 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 (2026-08-02), the stock price of Celsia Esp is COP4845.00. Celsia Esp's graham number for the quarter that ended in Mar. 2026 was COP3,151.16. Therefore, Celsia Esp's Price to Graham Number ratio for today is 1.54.
The historical rank and industry rank for Celsia Esp's Graham Number or its related term are showing as below:
BOG:CELSIA'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.39 Med: 1.08 Max: 1.75
Current: 1.54
During the past 13 years, the highest Price to Graham Number ratio of Celsia Esp was 1.75. The lowest was 0.39. And the median was 1.08.
BOG:CELSIA's Price-to-Graham-Number is ranked worse than 62.45% of 277
companies
in the Utilities - Independent Power Producers industry
Industry Median: 1.15
vs BOG:CELSIA: 1.54
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
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.
Celsia Esp's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
4845.00
/
3,151.16
=
1.54
* 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.
Celsia Esp Graham Number Related Terms
Celsia Esp Graham Number Historical Data
* Premium members only.
The historical data trend for Celsia Esp'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 Utilities - Renewable subindustry, Celsia Esp'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.
Celsia Esp Price-to-Graham-Number vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Celsia Esp's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Celsia Esp'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.
Celsia Esp (BOG:CELSIA) has a Graham Number of COP3,151.16 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Celsia Esp and its competitors. This is 291674% above median its historical median of 1.08. Over the past decade, Celsia Esp's Graham Number has ranged from 0.39 to 1.75. According to the industry distribution chart, Celsia Esp ranks #173 out of 277 companies in the Utilities - Independent Power Producers industry, placing it in the top 62.5%.
Is Celsia Esp's Graham Number too high?
Celsia Esp's current Graham Number of COP3,151.16 is 291674% above median its 10-year median of 1.08. Over the past 10 years, this metric has ranged from a low of 0.39 to a high of 1.75. Based on the distribution chart, Celsia Esp ranks #173 out of 277 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Celsia Esp has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Celsia Esp's Graham Number compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Celsia Esp ranks #173 out of 277 companies for Graham Number. This places Celsia Esp in the lower half of its industry. The industry median Graham Number is 1.15. Historically, Celsia Esp's own Graham Number has ranged from 0.39 to 1.75 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 an Utilities - Independent Power Producers company?
The median Graham Number among Utilities - Independent Power Producers companies is 1.15, based on 277 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 Celsia Esp and its competitors. For the Utilities - Independent Power Producers industry, the median Graham Number is 1.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Celsia Esp's current Graham Number is COP3,151.16, which is 291674% above median its own 10-year median of 1.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Celsia Esp stock overvalued right now?
Based on GuruFocus' analysis, Celsia Esp (BOG:CELSIA) is currently considered Significantly Overvalued. The stock's GF Value™ is COP3,205.93, compared to a current price of COP4,845.00 — trading 51.1% above its estimated fair value. The current Graham Number is COP3,151.16, which is 291674% above median its 10-year median of 1.08. Celsia Esp's overall GF Score™ is 65/100 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 Celsia Esp (BOG:CELSIA), the current Graham Number is COP3,151.16 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 Celsia Esp (BOG:CELSIA) Overvalued in 2026?
Based on GuruFocus' analysis, Celsia Esp stock appears to be overvalued.
The current stock price of COP4,845.00 is trading 51.1% above its estimated GF Value™ of COP3,205.93.
GuruFocus considers Celsia Esp to be Significantly Overvalued.
Key valuation signals for BOG:CELSIA:
Graham Number: COP3,151.16 (291674% above median its 10-year median of 1.08)
GF Value™: COP3,205.93 vs. price of COP4,845.00 (51.1% above fair value)
No single metric tells the full story. See the BOG:CELSIA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Celsia SA Esp is a Latin American public utility company. Celsia is involved in the generation and sale of electrical energy and natural gas in Colombia, Panama, and Costa Rica. Through its principal subsidiary, Celsia Colombia S.A. E.S.P, the company owns and operates a portfolio of thermal, hydroelectric, and wind power plants. The company has two geographical operating segments namely Colombia and Central America. It generates maximum revenue from the Colombia segment. The company projects include Porvenir II and ReverdeC.
65GF Score
Get the complete analysis for BOG:CELSIA
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BOG:CELSIA has been successfully added to your 
