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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.
BSP:CSMG3's Price-to-Graham-Number is ranked worse than 88.01% of 417
companies
in the Utilities - Regulated industry
Industry Median: 1.13
vs BSP:CSMG3: 2.32
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Compania deneamento de Minas Gerais - COPASA MG (BSP:CSMG3) 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.
Compania deneamento de Minas Gerais - COPASA MG's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
64.00
/
27.64
=
2.32
* 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.
Compania deneamento de Minas Gerais - COPASA MG Graham Number Related Terms
Compania deneamento de Minas Gerais - COPASA MG 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.
Compania deneamento de Minas Gerais - COPASA MG Graham Number Chart
Compania deneamento de Minas Gerais - COPASA MG Annual Data
BSP:CSMG3 vs AWK, WTRG, AWR: Graham Number Comparison
For the Utilities - Regulated Water subindustry, Compania deneamento de Minas Gerais - COPASA MG'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.
Compania deneamento de Minas Gerais - COPASA MG Price-to-Graham-Number vs Utilities - Regulated Industry
* 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.
Compania deneamento de Minas Gerais - COPASA MG (BSP:CSMG3) has a Graham Number of R$27.64 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Compania deneamento de Minas Gerais - COPASA MG and its competitors. This is 3906% above median its historical median of 0.69. Over the past decade, Compania deneamento de Minas Gerais - COPASA MG's Graham Number has ranged from 0.39 to 2.46. According to the industry distribution chart, Compania deneamento de Minas Gerais - COPASA MG ranks #367 out of 417 companies in the Utilities - Regulated industry, placing it in the top 88%.
Is Compania deneamento de Minas Gerais - COPASA MG's Graham Number too high?
Compania deneamento de Minas Gerais - COPASA MG's current Graham Number of R$27.64 is 3906% above median its 10-year median of 0.69. Over the past 10 years, this metric has ranged from a low of 0.39 to a high of 2.46. Based on the distribution chart, Compania deneamento de Minas Gerais - COPASA MG ranks #367 out of 417 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Compania deneamento de Minas Gerais - COPASA MG has a GF Score™ of 83/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Compania deneamento de Minas Gerais - COPASA MG's Graham Number compare to AWK and WTRG?
According to the Utilities - Regulated industry distribution chart, Compania deneamento de Minas Gerais - COPASA MG ranks #367 out of 417 companies for Graham Number. This places Compania deneamento de Minas Gerais - COPASA MG in the lower half of its industry. The industry median Graham Number is 1.13. Historically, Compania deneamento de Minas Gerais - COPASA MG's own Graham Number has ranged from 0.39 to 2.46 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 - Regulated company?
The median Graham Number among Utilities - Regulated companies is 1.13, based on 417 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 Compania deneamento de Minas Gerais - COPASA MG and its competitors. For the Utilities - Regulated industry, the median Graham Number is 1.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Compania deneamento de Minas Gerais - COPASA MG's current Graham Number is R$27.64, which is 3906% above median its own 10-year median of 0.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Compania deneamento de Minas Gerais - COPASA MG stock overvalued right now?
Based on GuruFocus' analysis, Compania deneamento de Minas Gerais - COPASA MG (BSP:CSMG3) is currently considered Significantly Overvalued. The stock's GF Value™ is R$25.12, compared to a current price of R$64.00 — trading 154.8% above its estimated fair value. The current Graham Number is R$27.64, which is 3906% above median its 10-year median of 0.69. Compania deneamento de Minas Gerais - COPASA MG's overall GF Score™ is 83/100 with 9 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 Compania deneamento de Minas Gerais - COPASA MG (BSP:CSMG3), the current Graham Number is R$27.64 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 Compania deneamento de Minas Gerais - COPASA MG (BSP:CSMG3) Overvalued in 2026?
Based on GuruFocus' analysis, Compania deneamento de Minas Gerais - COPASA MG stock appears to be overvalued.
The current stock price of R$64.00 is trading 154.8% above its estimated GF Value™ of R$25.12.
GuruFocus considers Compania deneamento de Minas Gerais - COPASA MG to be Significantly Overvalued.
Key valuation signals for BSP:CSMG3:
Graham Number: R$27.64 (3906% above median its 10-year median of 0.69)
GF Value™: R$25.12 vs. price of R$64.00 (154.8% above fair value)
No single metric tells the full story. See the BSP:CSMG3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Compania deneamento de Minas Gerais - COPASA MG Business Description
Compania de Saneamento de Minas Gerais - COPASA MG provides water supply, sewage, and solid waste services. The company operates out of subsidiaries COPASA Servicos de Irrigacao S.A., COPASA Aguas Minerais de Minas S.A, and COPANOR. COPASA Servicos de Irrigacao S.A. manages, performs, and sells irrigation system services. COPASA Aguas Minerais de Minas S.A. produces, bottles, distributes, and sells mineral water. COPANOR provides water supply and sewage treatment services across the North and Northeast regions of the State of Minas Gerais. A majority of revenue is derived from water services while the rest is derived from sewage services. The company operates out of Brazil, where an amount of revenue is generated.
83GF Score
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