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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:VISC11's Price-to-Graham-Number is ranked worse than 83.1% of 728
companies
in the REITs industry
Industry Median: 0.73
vs BSP:VISC11: 1.53
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Vinci Shopping Centers Fundo Investimento Imobiliario-FII (BSP:VISC11) 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.
Vinci Shopping Centers Fundo Investimento Imobiliario-FII's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
105.42
/
68.70
=
1.53
* 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.
Vinci Shopping Centers Fundo Investimento Imobiliario-FII Graham Number Related Terms
Vinci Shopping Centers Fundo Investimento Imobiliario-FII 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.
Vinci Shopping Centers Fundo Investimento Imobiliario-FII Graham Number Chart
Vinci Shopping Centers Fundo Investimento Imobiliario-FII Annual Data
* 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.
Vinci Shopping Centers Fundo Investimento Imobiliario-FII Price-to-Graham-Number vs REITs 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.
Vinci Shopping Centers Fundo Investimento Imobiliario-FII (BSP:VISC11) has a Graham Number of R$68.70 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Vinci Shopping Centers Fundo Investimento Imobiliario-FII and its competitors. This is 7982% above median its historical median of 0.85. Over the past decade, Vinci Shopping Centers Fundo Investimento Imobiliario-FII's Graham Number has ranged from 0.50 to 1.76. According to the industry distribution chart, Vinci Shopping Centers Fundo Investimento Imobiliario-FII ranks #605 out of 728 companies in the REITs industry, placing it in the top 83.1%.
Is Vinci Shopping Centers Fundo Investimento Imobiliario-FII's Graham Number too high?
Vinci Shopping Centers Fundo Investimento Imobiliario-FII's current Graham Number of R$68.70 is 7982% above median its 10-year median of 0.85. Over the past 10 years, this metric has ranged from a low of 0.50 to a high of 1.76. Based on the distribution chart, Vinci Shopping Centers Fundo Investimento Imobiliario-FII ranks #605 out of 728 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Vinci Shopping Centers Fundo Investimento Imobiliario-FII has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Vinci Shopping Centers Fundo Investimento Imobiliario-FII's Graham Number compare to SPG and O?
According to the REITs industry distribution chart, Vinci Shopping Centers Fundo Investimento Imobiliario-FII ranks #605 out of 728 companies for Graham Number. This places Vinci Shopping Centers Fundo Investimento Imobiliario-FII in the lower half of its industry. The industry median Graham Number is 0.73. Historically, Vinci Shopping Centers Fundo Investimento Imobiliario-FII's own Graham Number has ranged from 0.50 to 1.76 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 a REITs company?
The median Graham Number among REITs companies is 0.73, based on 728 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 Vinci Shopping Centers Fundo Investimento Imobiliario-FII and its competitors. For the REITs industry, the median Graham Number is 0.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vinci Shopping Centers Fundo Investimento Imobiliario-FII's current Graham Number is R$68.70, which is 7982% above median its own 10-year median of 0.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vinci Shopping Centers Fundo Investimento Imobiliario-FII stock overvalued right now?
Based on GuruFocus' analysis, Vinci Shopping Centers Fundo Investimento Imobiliario-FII (BSP:VISC11) is currently considered Fairly Valued. The stock's GF Value™ is R$116.05, compared to a current price of R$105.42 — trading 9.2% below its estimated fair value. The current Graham Number is R$68.70, which is 7982% above median its 10-year median of 0.85. Vinci Shopping Centers Fundo Investimento Imobiliario-FII's overall GF Score™ is 77/100 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 Vinci Shopping Centers Fundo Investimento Imobiliario-FII (BSP:VISC11), the current Graham Number is R$68.70 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 Vinci Shopping Centers Fundo Investimento Imobiliario-FII (BSP:VISC11) Overvalued in 2026?
Based on GuruFocus' analysis, Vinci Shopping Centers Fundo Investimento Imobiliario-FII stock appears to be undervalued.
The current stock price of R$105.42 is trading 9.2% below its estimated GF Value™ of R$116.05.
GuruFocus considers Vinci Shopping Centers Fundo Investimento Imobiliario-FII to be Fairly Valued.
Key valuation signals for BSP:VISC11:
Graham Number: R$68.70 (7982% above median its 10-year median of 0.85)
GF Value™: R$116.05 vs. price of R$105.42 (9.2% below fair value)
No single metric tells the full story. See the BSP:VISC11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vinci Shopping Centers Fundo Investimento Imobiliario-FII Business Description
Vinci Shopping Centers Fundo Investimento Imobiliario-FII is a real estate investment trust. The company invests in real estate properties of shopping centers and / or related, such as strip malls, outlet centers, among others. The objective of the Fund is to obtain income through the investment of resources, predominantly in real estate, as well as in any real rights over real estate or, even, through indirect investment in real estate through the acquisition of real estate assets.
77GF Score
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