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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.
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 Arihant Capital Markets's Graham Number or its related term are showing as below:
BOM:511605'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.26 Med: 1.04 Max: 2.13
Current: 1.61
During the past 13 years, the highest Price to Graham Number ratio of Arihant Capital Markets was 2.13. The lowest was 0.26. And the median was 1.04.
BOM:511605's Price-to-Graham-Number is ranked worse than 66.99% of 518
companies
in the Capital Markets industry
Industry Median: 1.045
vs BOM:511605: 1.61
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Arihant Capital Markets (BOM:511605) 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.
Arihant Capital Markets's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
79.77
/
N/A
=
N/A
* 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.
Arihant Capital Markets Graham Number Related Terms
Arihant Capital Markets 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.
BOM:511605 vs MS, GS, SCHW: Graham Number Comparison
For the Capital Markets subindustry, Arihant Capital Markets'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.
Arihant Capital Markets Price-to-Graham-Number vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Arihant Capital Markets's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Arihant Capital Markets'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.
Arihant Capital Markets (BOM:511605) has a Graham Number of ₹N/A as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Arihant Capital Markets and its competitors. According to the industry distribution chart, Arihant Capital Markets ranks #347 out of 518 companies in the Capital Markets industry, placing it in the top 67%.
Is Arihant Capital Markets' Graham Number too high?
Arihant Capital Markets' current Graham Number is ₹N/A. Based on the distribution chart, Arihant Capital Markets ranks #347 out of 518 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Arihant Capital Markets has a GF Score™ of 62/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Arihant Capital Markets' Graham Number compare to MS and GS?
According to the Capital Markets industry distribution chart, Arihant Capital Markets ranks #347 out of 518 companies for Graham Number. This places Arihant Capital Markets in the lower half of its industry. The industry median Graham Number is 1.05. 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 Capital Markets company?
The median Graham Number among Capital Markets companies is 1.05, based on 518 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 Arihant Capital Markets and its competitors. For the Capital Markets industry, the median Graham Number is 1.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Arihant Capital Markets's current Graham Number is ₹N/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arihant Capital Markets stock overvalued right now?
Based on GuruFocus' analysis, Arihant Capital Markets (BOM:511605) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹93.50, compared to a current price of ₹79.77 — trading 14.7% below its estimated fair value. The current Graham Number is ₹N/A. Arihant Capital Markets' overall GF Score™ is 62/100 with 4 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 Arihant Capital Markets (BOM:511605), the current Graham Number is ₹N/A 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 Arihant Capital Markets (BOM:511605) Overvalued in 2026?
Based on GuruFocus' analysis, Arihant Capital Markets stock appears to be undervalued.
The current stock price of ₹79.77 is trading 14.7% below its estimated GF Value™ of ₹93.50.
GuruFocus considers Arihant Capital Markets to be Modestly Undervalued.
Key valuation signals for BOM:511605:
Graham Number: ₹N/A
GF Value™: ₹93.50 vs. price of ₹79.77 (14.7% below fair value)
No single metric tells the full story. See the BOM:511605 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Arihant Capital Markets Ltd is a holding company that is engaged in the provision of financial services. The company provides products and services, including equities, commodities, currency, financial planning, depository services, priority client group services (PCG), merchant banking, and investment banking services to a substantial and diversified clientele that includes individuals, corporations, and financial institutions. It also offers online and mobile trading, algorithmic trading, depository, and real estate services, as well as provides stock lending and borrowing, investment and trading Webinars, insurance, and RGESS services. Geographically, all the operations were conducted throughout the region of India.
62GF Score
Get the complete analysis for BOM:511605
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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