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Norsk Hydro ASACHIX:NHYO +1.67%87 Graham Number is kr89.10 as of Jun. 2026, which is 100% below its 10-year median of 1.01. GuruFocus rates CHIX:NHYO with a GF Score™ of 87/100 and a GF Value™ of kr70.01 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 615 Metals & Mining companies, Norsk Hydro ASA ranks better than 62.93% 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 (2026-07-31), the stock price of Norsk Hydro ASA is kr86.82. Norsk Hydro ASA's graham number for the quarter that ended in Jun. 2026 was kr89.10. Therefore, Norsk Hydro ASA's Price to Graham Number ratio for today is 0.97.
The historical rank and industry rank for Norsk Hydro ASA's Graham Number or its related term are showing as below:
CHIX:NHYo'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.47 Med: 1.01 Max: 13.15
Current: 0.97
During the past 13 years, the highest Price to Graham Number ratio of Norsk Hydro ASA was 13.15. The lowest was 0.47. And the median was 1.01.
CHIX:NHYo's Price-to-Graham-Number is ranked better than 62.93% of 615
companies
in the Metals & Mining industry
Industry Median: 1.25
vs CHIX:NHYo: 0.97
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Norsk Hydro ASA (CHIX:NHYo) 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.
Norsk Hydro ASA's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
86.82
/
89.10
=
0.97
* 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.
Norsk Hydro ASA Graham Number Related Terms
Norsk Hydro ASA Graham Number Historical Data
* Premium members only.
The historical data trend for Norsk Hydro ASA'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.
For the Aluminum subindustry, Norsk Hydro ASA'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.
Norsk Hydro ASA Price-to-Graham-Number vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Norsk Hydro ASA's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Norsk Hydro ASA'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.
Norsk Hydro ASA (CHIX:NHYO) has a Graham Number of kr89.10 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Norsk Hydro ASA and its competitors. This is 8722% above median its historical median of 1.01. Over the past decade, Norsk Hydro ASA's Graham Number has ranged from 0.47 to 13.15. According to the industry distribution chart, Norsk Hydro ASA ranks #228 out of 615 companies in the Metals & Mining industry, placing it in the top 37.1%.
Is Norsk Hydro ASA's Graham Number too high?
Norsk Hydro ASA's current Graham Number of kr89.10 is 8722% above median its 10-year median of 1.01. Over the past 10 years, this metric has ranged from a low of 0.47 to a high of 13.15. Based on the distribution chart, Norsk Hydro ASA ranks #228 out of 615 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Norsk Hydro ASA has a GF Score™ of 87/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Norsk Hydro ASA's Graham Number compare to AA and CENX?
According to the Metals & Mining industry distribution chart, Norsk Hydro ASA ranks #228 out of 615 companies for Graham Number. This puts Norsk Hydro ASA in the upper half of its industry. The industry median Graham Number is 1.25. Historically, Norsk Hydro ASA's own Graham Number has ranged from 0.47 to 13.15 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 Metals & Mining company?
The median Graham Number among Metals & Mining companies is 1.25, based on 615 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 Norsk Hydro ASA and its competitors. For the Metals & Mining industry, the median Graham Number is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norsk Hydro ASA's current Graham Number is kr89.10, which is 8722% above median its own 10-year median of 1.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Norsk Hydro ASA stock overvalued right now?
Based on GuruFocus' analysis, Norsk Hydro ASA (CHIX:NHYO) is currently considered Modestly Overvalued. The stock's GF Value™ is kr70.01, compared to a current price of kr86.82 — trading 24% above its estimated fair value. The current Graham Number is kr89.10, which is 8722% above median its 10-year median of 1.01. Norsk Hydro ASA's overall GF Score™ is 87/100 with 2 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 Norsk Hydro ASA (CHIX:NHYO), the current Graham Number is kr89.10 as of Jun. 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 Norsk Hydro ASA (CHIX:NHYO) Overvalued in 2026?
Based on GuruFocus' analysis, Norsk Hydro ASA stock appears to be overvalued.
The current stock price of kr86.82 is trading 24% above its estimated GF Value™ of kr70.01.
GuruFocus considers Norsk Hydro ASA to be Modestly Overvalued.
Key valuation signals for CHIX:NHYO:
Graham Number: kr89.10 (8722% above median its 10-year median of 1.01)
GF Value™: kr70.01 vs. price of kr86.82 (24% above fair value)
No single metric tells the full story. See the CHIX:NHYO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Norsk Hydro ASA is an aluminium and renewable energy company. The company owns and operates businesses and holds investments in sustainable industries. Its operations span multiple market segments, including aluminum, energy, metal recycling, renewable energy, and batteries, providing expertise across these areas. The company's reportable segments are Hydro Bauxite & Alumina, Hydro Energy, Hydro Aluminium Metal and Hydro Extrusions and Hydro Metal Markets activities. The majority of the company's revenue is derived from the Hydro Extrusions segment, which delivers products within extruded profiles, building systems and precision tubing, and operates several recycling facilities, both integrated with its extrusion plants and separate plants.
87GF Score
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