Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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 CGN New Energy Holdings Co's Graham Number or its related term are showing as below:
CGEGF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.35 Med: 0.46 Max: 1.79
Current: 0.35
During the past 13 years, the highest Price to Graham Number ratio of CGN New Energy Holdings Co was 1.79. The lowest was 0.35. And the median was 0.46.
CGEGF's Price-to-Graham-Number is ranked better than 95.26% of 274
companies
in the Utilities - Independent Power Producers industry
Industry Median: 1.15
vs CGEGF: 0.35
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
CGN New Energy Holdings Co (OTCPK:CGEGF) 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.
CGN New Energy Holdings Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
0.2436
/
0.76
=
0.32
* 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.
CGN New Energy Holdings Co Graham Number Related Terms
CGN New Energy Holdings Co 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 Utilities - Independent Power Producers subindustry, CGN New Energy Holdings Co'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.
CGN New Energy Holdings Co Price-to-Graham-Number vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, CGN New Energy Holdings Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where CGN New Energy Holdings Co'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.
CGN New Energy Holdings Co (CGEGF) has a Graham Number of $0.76 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on CGN New Energy Holdings Co and its competitors. According to the industry distribution chart, CGN New Energy Holdings Co ranks #13 out of 274 companies in the Utilities - Independent Power Producers industry, placing it in the top 4.7%.
Is CGN New Energy Holdings Co's Graham Number too high?
CGN New Energy Holdings Co's current Graham Number is $0.76. The Utilities - Independent Power Producers industry median Graham Number is 1.15. CGN New Energy Holdings Co's value of $0.76 is 33.9% below this industry median. Based on the distribution chart, CGN New Energy Holdings Co ranks #13 out of 274 companies in the Utilities - Independent Power Producers industry, which is in the top quartile — a strong position relative to peers. Overall, CGN New Energy Holdings Co has a GF Score™ of 84/100, reflecting its overall financial health beyond just this single metric.
How does CGN New Energy Holdings Co's Graham Number compare to CEG and VST?
According to the Utilities - Independent Power Producers industry distribution chart, CGN New Energy Holdings Co ranks #13 out of 274 companies for Graham Number. This places CGN New Energy Holdings Co in the top 5% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.15. CGN New Energy Holdings Co's value of $0.76 is 33.9% below this benchmark. 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 - Independent Power Producers company?
The median Graham Number among Utilities - Independent Power Producers companies is 1.15, based on 274 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. CGN New Energy Holdings Co's current Graham Number of $0.76 is 33.9% below 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 CGN New Energy Holdings Co and its competitors. For the Utilities - Independent Power Producers industry, the median Graham Number is 1.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CGN New Energy Holdings Co's current Graham Number is $0.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CGN New Energy Holdings Co stock overvalued right now?
CGN New Energy Holdings Co (CGEGF) has a current Graham Number of $0.76. The stock's GF Value™ is $0.21, compared to a current price of $0.24 — trading 16% above its estimated fair value. The current Graham Number is $0.76 and 33.9% below the Utilities - Independent Power Producers industry median of 1.15. CGN New Energy Holdings Co's overall GF Score™ is 84/100 with 6 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 CGN New Energy Holdings Co (CGEGF), the current Graham Number is $0.76 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 CGN New Energy Holdings Co (CGEGF) Overvalued in 2026?
Based on GuruFocus' analysis, CGN New Energy Holdings Co stock appears to be overvalued.
The current stock price of $0.24 is trading 16% above its estimated GF Value™ of $0.21.
Key valuation signals for CGEGF:
Graham Number: $0.76
GF Value™: $0.21 vs. price of $0.24 (16% above fair value)
Industry Position: 33.9% below the Utilities - Independent Power Producers median (#13 of 274)
No single metric tells the full story. See the CGEGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CGN New Energy Holdings Co Ltd together with its subsidiaries is engaged in the generation and supply of electricity and steam, the construction and operation of power stations, and other associated facilities in PRC and Korea. The company has three reportable segments; Power plants in the PRC include the Generation and supply of electricity, Power plants in Korea include the Generation and supply of electricity, and Management companies include the Provision of management services to power plants operated by CGN and its subsidiaries. The company derives maximum revenue from Power Plants in the PRC segment.
84GF Score
Get the complete analysis for CGEGF
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
CGEGF has been successfully added to your 
