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Ryanair HoldingsCHIX:RYAI -2.08%89 Graham Number is €21.05 as of Mar. 2026, which is 100% below its 10-year median of 1.34. GuruFocus rates CHIX:RYAI with a GF Score™ of 89/100 and a GF Value™ of €25.15 (Fairly Valued). The stock has 1 warning sign investors should review. Among 742 Transportation companies, Ryanair Holdings ranks worse than 60.92% 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 (2026-07-14), the stock price of Ryanair Holdings is €26.325. Ryanair Holdings's graham number for the quarter that ended in Mar. 2026 was €21.05. Therefore, Ryanair Holdings's Price to Graham Number ratio for today is 1.25.
The historical rank and industry rank for Ryanair Holdings's Graham Number or its related term are showing as below:
CHIX:RYAi'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.96 Med: 1.34 Max: 1.58
Current: 1.25
During the past 13 years, the highest Price to Graham Number ratio of Ryanair Holdings was 1.58. The lowest was 0.96. And the median was 1.34.
CHIX:RYAi's Price-to-Graham-Number is ranked worse than 60.92% of 742
companies
in the Transportation industry
Industry Median: 1.015
vs CHIX:RYAi: 1.25
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Ryanair Holdings (CHIX:RYAi) 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.
Ryanair Holdings's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
26.325
/
21.05
=
1.25
* 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.
Ryanair Holdings Graham Number Related Terms
Ryanair Holdings Graham Number Historical Data
* Premium members only.
The historical data trend for Ryanair Holdings'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:RYAI vs DAL, UAL, LUV: Graham Number Comparison
For the Airlines subindustry, Ryanair Holdings'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.
Ryanair Holdings Price-to-Graham-Number vs Transportation Industry
For the Transportation industry and Industrials sector, Ryanair Holdings's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Ryanair Holdings'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.
Ryanair Holdings (CHIX:RYAI) has a Graham Number of €21.05 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Ryanair Holdings and its competitors. This is 1471% above median its historical median of 1.34. Over the past decade, Ryanair Holdings' Graham Number has ranged from 0.96 to 1.58. According to the industry distribution chart, Ryanair Holdings ranks #452 out of 742 companies in the Transportation industry, placing it in the top 60.9%.
Is Ryanair Holdings' Graham Number too high?
Ryanair Holdings' current Graham Number of €21.05 is 1471% above median its 10-year median of 1.34. Over the past 10 years, this metric has ranged from a low of 0.96 to a high of 1.58. Based on the distribution chart, Ryanair Holdings ranks #452 out of 742 companies in the Transportation industry, which is below the industry midpoint. Overall, Ryanair Holdings has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ryanair Holdings' Graham Number compare to DAL and UAL?
According to the Transportation industry distribution chart, Ryanair Holdings ranks #452 out of 742 companies for Graham Number. This places Ryanair Holdings in the lower half of its industry. The industry median Graham Number is 1.02. Historically, Ryanair Holdings' own Graham Number has ranged from 0.96 to 1.58 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 Transportation company?
The median Graham Number among Transportation companies is 1.02, based on 742 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 Ryanair Holdings and its competitors. For the Transportation industry, the median Graham Number is 1.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ryanair Holdings's current Graham Number is €21.05, which is 1471% above median its own 10-year median of 1.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ryanair Holdings stock overvalued right now?
Based on GuruFocus' analysis, Ryanair Holdings (CHIX:RYAI) is currently considered Fairly Valued. The stock's GF Value™ is €25.15, compared to a current price of €26.33 — trading 4.7% above its estimated fair value. The current Graham Number is €21.05, which is 1471% above median its 10-year median of 1.34. Ryanair Holdings' overall GF Score™ is 89/100 with 1 warning sign 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 Ryanair Holdings (CHIX:RYAI), the current Graham Number is €21.05 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 Ryanair Holdings (CHIX:RYAI) Overvalued in 2026?
Based on GuruFocus' analysis, Ryanair Holdings stock appears to be overvalued.
The current stock price of €26.33 is trading 4.7% above its estimated GF Value™ of €25.15.
GuruFocus considers Ryanair Holdings to be Fairly Valued.
Key valuation signals for CHIX:RYAI:
Graham Number: €21.05 (1471% above median its 10-year median of 1.34)
GF Value™: €25.15 vs. price of €26.33 (4.7% above fair value)
No single metric tells the full story. See the CHIX:RYAI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ryanair is Europe's largest low-cost airline, known for its extensive network and highly efficient business model. Operating over 3,600 flights daily across 240-plus destinations in 40 countries, Ryanair has built its success on offering affordable air travel while maintaining tight control over costs. The airline primarily uses Boeing 737 aircraft, including the newer 737 8-200 "Gamechanger" variant, which simplifies operations and reduces expenses. Ryanair focuses on high passenger volume, ancillary revenue, and operational efficiency, ensuring its position as a leading airline in Europe.
89GF Score
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