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Koninklijke KPN NVCHIX:KPNA 71 Graham Number is €0.75 as of Dec. 2025, which is 100% below its 10-year median of 5.23. GuruFocus rates CHIX:KPNA with a GF Score™ of 71/100 and a GF Value™ of €3.99 (Fairly Valued). The stock has 4 warning signs investors should review. Among 193 Telecommunication Services companies, Koninklijke KPN NV ranks worse than 92.75% 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.
As of today (2026-07-21), the stock price of Koninklijke KPN NV is €4.315. Koninklijke KPN NV's graham number for the quarter that ended in Dec. 2025 was €0.75. Therefore, Koninklijke KPN NV's Price to Graham Number ratio for today is 5.64.
The historical rank and industry rank for Koninklijke KPN NV's Graham Number or its related term are showing as below:
CHIX:KPNa'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 3.25 Med: 5.23 Max: 16.16
Current: 5.83
During the past 13 years, the highest Price to Graham Number ratio of Koninklijke KPN NV was 16.16. The lowest was 3.25. And the median was 5.23.
CHIX:KPNa's Price-to-Graham-Number is ranked worse than 92.75% of 193
companies
in the Telecommunication Services industry
Industry Median: 1.59
vs CHIX:KPNa: 5.83
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Koninklijke KPN NV (CHIX:KPNa) 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.
Koninklijke KPN NV's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
4.315
/
0.76
=
5.64
* 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.
Koninklijke KPN NV Graham Number Related Terms
Koninklijke KPN NV Graham Number Historical Data
* Premium members only.
The historical data trend for Koninklijke KPN NV's Graham Number can be seen below:
* 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.
CHIX:KPNA vs TMUS, VZ, T: Graham Number Comparison
For the Telecom Services subindustry, Koninklijke KPN NV'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.
Koninklijke KPN NV Price-to-Graham-Number vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Koninklijke KPN NV's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Koninklijke KPN NV'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.
Koninklijke KPN NV (CHIX:KPNA) has a Graham Number of €0.75 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Koninklijke KPN NV and its competitors. This is 86% below median its historical median of 5.23. Over the past decade, Koninklijke KPN NV's Graham Number has ranged from 3.25 to 16.16. According to the industry distribution chart, Koninklijke KPN NV ranks #179 out of 193 companies in the Telecommunication Services industry, placing it in the top 92.7%.
Is Koninklijke KPN NV's Graham Number too high?
Koninklijke KPN NV's current Graham Number of €0.75 is 86% below median its 10-year median of 5.23. Over the past 10 years, this metric has ranged from a low of 3.25 to a high of 16.16. Based on the distribution chart, Koninklijke KPN NV ranks #179 out of 193 companies in the Telecommunication Services industry, which is in the bottom quartile relative to peers. Overall, Koninklijke KPN NV has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Koninklijke KPN NV's Graham Number compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Koninklijke KPN NV ranks #179 out of 193 companies for Graham Number. This places Koninklijke KPN NV in the lower half of its industry. The industry median Graham Number is 1.59. Historically, Koninklijke KPN NV's own Graham Number has ranged from 3.25 to 16.16 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 Telecommunication Services company?
The median Graham Number among Telecommunication Services companies is 1.59, based on 193 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 Koninklijke KPN NV and its competitors. For the Telecommunication Services industry, the median Graham Number is 1.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Koninklijke KPN NV's current Graham Number is €0.75, which is 86% below median its own 10-year median of 5.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Koninklijke KPN NV stock overvalued right now?
Based on GuruFocus' analysis, Koninklijke KPN NV (CHIX:KPNA) is currently considered Fairly Valued. The stock's GF Value™ is €3.99, compared to a current price of €4.32 — trading 8.1% above its estimated fair value. The current Graham Number is €0.75, which is 86% below median its 10-year median of 5.23. Koninklijke KPN NV's overall GF Score™ is 71/100 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 Koninklijke KPN NV (CHIX:KPNA), the current Graham Number is €0.75 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 Koninklijke KPN NV (CHIX:KPNA) Overvalued in 2026?
Based on GuruFocus' analysis, Koninklijke KPN NV stock appears to be overvalued.
The current stock price of €4.32 is trading 8.1% above its estimated GF Value™ of €3.99.
GuruFocus considers Koninklijke KPN NV to be Fairly Valued.
Key valuation signals for CHIX:KPNA:
Graham Number: €0.75 (86% below median its 10-year median of 5.23)
GF Value™: €3.99 vs. price of €4.32 (8.1% above fair value)
No single metric tells the full story. See the CHIX:KPNA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KPN is the incumbent telecommunications operator in the Netherlands. It has 40% share of the broadband market and 20% of the postpaid mobile market, with VodafoneZiggo (mobile and fixed) and Odido (mobile) as main competitors. KPN is rolling out fiber to the home in the Netherlands and expects to have most of the country covered by 2026. KPN's management has a cost-conscious mentality, something that has allowed it to grow dividends at midsingle digits over many years.
71GF Score
Get the complete analysis for CHIX:KPNA
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