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Bowhead Specialty HoldingsBOW -0.62%17 Graham Number is $23.60 as of Mar. 2026, which is 1288% above its 10-year median of 1.70. GuruFocus rates BOW with a GF Score™ of 17/100. The stock has 2 warning signs investors should review. Among 425 Insurance companies, Bowhead Specialty Holdings ranks worse than 71.53% 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.
The historical rank and industry rank for Bowhead Specialty Holdings's Graham Number or its related term are showing as below:
BOW'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.95 Med: 1.7 Max: 2.09
Current: 1.29
During the past 4 years, the highest Price to Graham Number ratio of Bowhead Specialty Holdings was 2.09. The lowest was 0.95. And the median was 1.70.
BOW's Price-to-Graham-Number is ranked worse than 71.53% of 425
companies
in the Insurance industry
Industry Median: 0.93
vs BOW: 1.29
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Bowhead Specialty Holdings (NYSE:BOW) 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.
Bowhead Specialty Holdings's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
30.51
/
23.60
=
1.29
* 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.
Bowhead Specialty Holdings Graham Number Related Terms
Bowhead Specialty Holdings 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.
For the Insurance - Property & Casualty subindustry, Bowhead Specialty Holdings'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.
Bowhead Specialty Holdings Price-to-Graham-Number vs Insurance Industry
For the Insurance industry and Financial Services sector, Bowhead Specialty Holdings's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Bowhead Specialty Holdings'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.
Bowhead Specialty Holdings (BOW) has a Graham Number of $23.60 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Bowhead Specialty Holdings and its competitors. This is 1288% above median its historical median of 1.70. Over the past decade, Bowhead Specialty Holdings' Graham Number has ranged from 0.95 to 2.09. According to the industry distribution chart, Bowhead Specialty Holdings ranks #304 out of 425 companies in the Insurance industry, placing it in the top 71.5%.
Is Bowhead Specialty Holdings' Graham Number too high?
Bowhead Specialty Holdings' current Graham Number of $23.60 is 1288% above median its 10-year median of 1.70. Over the past 10 years, this metric has ranged from a low of 0.95 to a high of 2.09. The Insurance industry median Graham Number is 0.93. Bowhead Specialty Holdings' value of $23.60 is 2437.6% above this industry median. Based on the distribution chart, Bowhead Specialty Holdings ranks #304 out of 425 companies in the Insurance industry, which is below the industry midpoint. Overall, Bowhead Specialty Holdings has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Bowhead Specialty Holdings' Graham Number compare to ROOT and TRUP?
According to the Insurance industry distribution chart, Bowhead Specialty Holdings ranks #304 out of 425 companies for Graham Number. This places Bowhead Specialty Holdings in the lower half of its industry. The industry median Graham Number is 0.93. Bowhead Specialty Holdings' value of $23.60 is 2437.6% above this benchmark. Historically, Bowhead Specialty Holdings' own Graham Number has ranged from 0.95 to 2.09 over the past decade. While the company's 10-year median is 1.70 vs. the industry median of 0.93, Bowhead Specialty Holdings 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 an Insurance company?
The median Graham Number among Insurance companies is 0.93, based on 425 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. Bowhead Specialty Holdings's current Graham Number of $23.60 is 2437.6% 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 Bowhead Specialty Holdings and its competitors. For the Insurance industry, the median Graham Number is 0.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bowhead Specialty Holdings's current Graham Number is $23.60, which is 1288% above median its own 10-year median of 1.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bowhead Specialty Holdings stock overvalued right now?
Bowhead Specialty Holdings (BOW) has a current Graham Number of $23.60. The current Graham Number is $23.60, which is 1288% above median its 10-year median of 1.70 and 2437.6% above the Insurance industry median of 0.93. Bowhead Specialty Holdings' overall GF Score™ is 17/100 with 2 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 Bowhead Specialty Holdings (BOW), the current Graham Number is $23.60 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.
Bowhead Specialty Holdings Inc offers commercial specialty property and casualty insurance products. The company offers underwriting solutions to various businesses across four underwriting divisions, which include Casualty, Professional Liability, Healthcare Liability, and Baleen Specialty. A majority of its revenue is generated from the Casualty division, which specializes in general liability coverage, which protects a company against liability arising from bodily injury, personal injury, or property damage, for risks in the construction, distribution, heavy manufacturing, real estate, public entity, and hospitality segments, and also considers underwriting risks in a broader range of industries. Geographically, the company operates in the United States.
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