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.
CAS:BCI's Price-to-Graham-Number is ranked worse than 67.39% of 1438
companies
in the Banks industry
Industry Median: 0.8
vs CAS:BCI: 0.93
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Banque Marocaine pour le Commerce et l'Industrie (CAS:BCI) 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.
Banque Marocaine pour le Commerce et l'Industrie's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
610.00
/
653.91
=
0.93
* 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.
Banque Marocaine pour le Commerce et l'Industrie Graham Number Related Terms
Banque Marocaine pour le Commerce et l'Industrie 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.
Banque Marocaine pour le Commerce et l'Industrie Graham Number Chart
Banque Marocaine pour le Commerce et l'Industrie Annual Data
For the Banks - Regional subindustry, Banque Marocaine pour le Commerce et l'Industrie'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.
Banque Marocaine pour le Commerce et l'Industrie Price-to-Graham-Number vs Banks 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.
Banque Marocaine pour le Commerce et l'Industrie (CAS:BCI) has a Graham Number of MAD653.91 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Banque Marocaine pour le Commerce et l'Industrie and its competitors. This is 56762% above median its historical median of 1.15. Over the past decade, Banque Marocaine pour le Commerce et l'Industrie's Graham Number has ranged from 0.81 to 3.82. According to the industry distribution chart, Banque Marocaine pour le Commerce et l'Industrie ranks #969 out of 1438 companies in the Banks industry, placing it in the top 67.4%.
Is Banque Marocaine pour le Commerce et l'Industrie's Graham Number too high?
Banque Marocaine pour le Commerce et l'Industrie's current Graham Number of MAD653.91 is 56762% above median its 10-year median of 1.15. Over the past 10 years, this metric has ranged from a low of 0.81 to a high of 3.82. Based on the distribution chart, Banque Marocaine pour le Commerce et l'Industrie ranks #969 out of 1438 companies in the Banks industry, which is below the industry midpoint. Overall, Banque Marocaine pour le Commerce et l'Industrie has a GF Score™ of 45/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Banque Marocaine pour le Commerce et l'Industrie's Graham Number compare to PNC and USB?
According to the Banks industry distribution chart, Banque Marocaine pour le Commerce et l'Industrie ranks #969 out of 1438 companies for Graham Number. This places Banque Marocaine pour le Commerce et l'Industrie in the lower half of its industry. The industry median Graham Number is 0.80. Historically, Banque Marocaine pour le Commerce et l'Industrie's own Graham Number has ranged from 0.81 to 3.82 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 Banks company?
The median Graham Number among Banks companies is 0.80, based on 1,438 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 Banque Marocaine pour le Commerce et l'Industrie and its competitors. For the Banks industry, the median Graham Number is 0.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Banque Marocaine pour le Commerce et l'Industrie's current Graham Number is MAD653.91, which is 56762% above median its own 10-year median of 1.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Banque Marocaine pour le Commerce et l'Industrie stock overvalued right now?
Based on GuruFocus' analysis, Banque Marocaine pour le Commerce et l'Industrie (CAS:BCI) is currently considered Fairly Valued. The stock's GF Value™ is MAD636.32, compared to a current price of MAD610.00 — trading 4.1% below its estimated fair value. The current Graham Number is MAD653.91, which is 56762% above median its 10-year median of 1.15. Banque Marocaine pour le Commerce et l'Industrie's overall GF Score™ is 45/100 with 3 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 Banque Marocaine pour le Commerce et l'Industrie (CAS:BCI), the current Graham Number is MAD653.91 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 Banque Marocaine pour le Commerce et l'Industrie (CAS:BCI) Overvalued in 2026?
Based on GuruFocus' analysis, Banque Marocaine pour le Commerce et l'Industrie stock appears to be undervalued.
The current stock price of MAD610.00 is trading 4.1% below its estimated GF Value™ of MAD636.32.
GuruFocus considers Banque Marocaine pour le Commerce et l'Industrie to be Fairly Valued.
Key valuation signals for CAS:BCI:
Graham Number: MAD653.91 (56762% above median its 10-year median of 1.15)
GF Value™: MAD636.32 vs. price of MAD610.00 (4.1% below fair value)
No single metric tells the full story. See the CAS:BCI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Banque Marocaine pour le Commerce et l'Industrie Business Description
Banque Marocaine pour le Commerce et l'Industrie SA is a Morocco-based banking firm. The company provides retail and corporate banking services. It also provides investment, insurance, credit and other services. In addition, it offers remote banking, furniture and real estate leasing and asset management services.
45GF Score
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