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LondonMetric PropertyCHIX:LMPL -0.16%79 Graham Number is £2.47 as of Mar. 2026, which is 100% below its 10-year median of 0.94. GuruFocus rates CHIX:LMPL with a GF Score™ of 79/100 and a GF Value™ of £2.24 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 729 REITs companies, LondonMetric Property ranks worse than 52.13% 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.
The historical rank and industry rank for LondonMetric Property's Graham Number or its related term are showing as below:
CHIX:LMPl'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.73 Med: 0.94 Max: 1.13
Current: 0.76
During the past 13 years, the highest Price to Graham Number ratio of LondonMetric Property was 1.13. The lowest was 0.73. And the median was 0.94.
CHIX:LMPl's Price-to-Graham-Number is ranked worse than 52.13% of 729
companies
in the REITs industry
Industry Median: 0.74
vs CHIX:LMPl: 0.76
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
LondonMetric Property (CHIX:LMPl) 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.
LondonMetric Property's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
1.885
/
2.47
=
0.76
* 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.
LondonMetric Property Graham Number Related Terms
LondonMetric Property Graham Number Historical Data
* Premium members only.
The historical data trend for LondonMetric Property'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:LMPL vs PLD, PSA, EXR: Graham Number Comparison
For the REIT - Industrial subindustry, LondonMetric Property'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.
LondonMetric Property Price-to-Graham-Number vs REITs Industry
For the REITs industry and Real Estate sector, LondonMetric Property's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where LondonMetric Property'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.
LondonMetric Property (CHIX:LMPL) has a Graham Number of £2.47 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on LondonMetric Property and its competitors. This is 163% above median its historical median of 0.94. Over the past decade, LondonMetric Property's Graham Number has ranged from 0.73 to 1.13. According to the industry distribution chart, LondonMetric Property ranks #380 out of 729 companies in the REITs industry, placing it in the top 52.1%.
Is LondonMetric Property's Graham Number too high?
LondonMetric Property's current Graham Number of £2.47 is 163% above median its 10-year median of 0.94. Over the past 10 years, this metric has ranged from a low of 0.73 to a high of 1.13. Based on the distribution chart, LondonMetric Property ranks #380 out of 729 companies in the REITs industry, which is below the industry midpoint. Overall, LondonMetric Property has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does LondonMetric Property's Graham Number compare to PLD and PSA?
According to the REITs industry distribution chart, LondonMetric Property ranks #380 out of 729 companies for Graham Number. This places LondonMetric Property in the lower half of its industry. The industry median Graham Number is 0.74. Historically, LondonMetric Property's own Graham Number has ranged from 0.73 to 1.13 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 0.74, based on 729 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 LondonMetric Property and its competitors. For the REITs industry, the median Graham Number is 0.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. LondonMetric Property's current Graham Number is £2.47, which is 163% above median its own 10-year median of 0.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LondonMetric Property stock overvalued right now?
Based on GuruFocus' analysis, LondonMetric Property (CHIX:LMPL) is currently considered Modestly Undervalued. The stock's GF Value™ is £2.24, compared to a current price of £1.89 — trading 15.8% below its estimated fair value. The current Graham Number is £2.47, which is 163% above median its 10-year median of 0.94. LondonMetric Property's overall GF Score™ is 79/100 with 7 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 LondonMetric Property (CHIX:LMPL), the current Graham Number is £2.47 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 LondonMetric Property (CHIX:LMPL) Overvalued in 2026?
Based on GuruFocus' analysis, LondonMetric Property stock appears to be undervalued.
The current stock price of £1.89 is trading 15.8% below its estimated GF Value™ of £2.24.
GuruFocus considers LondonMetric Property to be Modestly Undervalued.
Key valuation signals for CHIX:LMPL:
Graham Number: £2.47 (163% above median its 10-year median of 0.94)
GF Value™: £2.24 vs. price of £1.89 (15.8% below fair value)
No single metric tells the full story. See the CHIX:LMPL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
LondonMetric Property PLC is a real estate company that is engaged in property investment and development across the United Kingdom. The Group operates predominantly in the United Kingdom.
79GF Score
Get the complete analysis for CHIX:LMPL
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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