GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Blackrock Enhanced Cap&Inc Fund, Inc (NYSE:CII) » Definitions » Graham Number

Blackrock Enhanced Cap&Inc Fund, (Blackrock Enhanced Cap&Inc Fund,) Graham Number : $39.21 (As of Dec. 2023)


View and export this data going back to 2004. Start your Free Trial

What is Blackrock Enhanced Cap&Inc Fund, Graham Number?

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 (2024-05-18), the stock price of Blackrock Enhanced Cap&Inc Fund, is $19.34. Blackrock Enhanced Cap&Inc Fund,'s graham number for the quarter that ended in Dec. 2023 was $39.21. Therefore, Blackrock Enhanced Cap&Inc Fund,'s Price to Graham Number ratio for today is 0.49.

The historical rank and industry rank for Blackrock Enhanced Cap&Inc Fund,'s Graham Number or its related term are showing as below:

CII' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.45   Med: 0.48   Max: 0.56
Current: 0.49

During the past 7 years, the highest Price to Graham Number ratio of Blackrock Enhanced Cap&Inc Fund, was 0.56. The lowest was 0.45. And the median was 0.48.

CII's Price-to-Graham-Number is ranked better than
85.97% of 1133 companies
in the Asset Management industry
Industry Median: 0.76 vs CII: 0.49

Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.


Blackrock Enhanced Cap&Inc Fund, Graham Number Historical Data

The historical data trend for Blackrock Enhanced Cap&Inc Fund,'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.

* Premium members only.

Blackrock Enhanced Cap&Inc Fund, Graham Number Chart

Blackrock Enhanced Cap&Inc Fund, Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Graham Number
Get a 7-Day Free Trial 38.57 30.84 45.05 - 39.21

Blackrock Enhanced Cap&Inc Fund, Semi-Annual Data
Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
Graham Number Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 41.64 - - 35.01 39.21

Competitive Comparison of Blackrock Enhanced Cap&Inc Fund,'s Graham Number

For the Asset Management subindustry, Blackrock Enhanced Cap&Inc Fund,'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.


Blackrock Enhanced Cap&Inc Fund,'s Price-to-Graham-Number Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Blackrock Enhanced Cap&Inc Fund,'s Price-to-Graham-Number distribution charts can be found below:

* The bar in red indicates where Blackrock Enhanced Cap&Inc Fund,'s Price-to-Graham-Number falls into.



Blackrock Enhanced Cap&Inc Fund, Graham Number Calculation

Graham Number is a concept based on Ben Graham's conservative valuation of companies.

Blackrock Enhanced Cap&Inc Fund,'s Graham Number for the fiscal year that ended in Dec. 2023 is calculated as

Graham Number
=sqrt of (22.5* Tangible Book per Share *EPS without NRI)
=sqrt of (22.5*19.808*3.45)
=39.21

Blackrock Enhanced Cap&Inc Fund,'s Graham Number for the quarter that ended in Dec. 2023 is calculated as

Graham Number
=sqrt of (22.5*Tangible Book per Share*EPS without NRI (TTM))
=sqrt of (22.5*19.808*3.45)
=39.21

* 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.


Blackrock Enhanced Cap&Inc Fund,  (NYSE:CII) 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.

Blackrock Enhanced Cap&Inc Fund,'s Price to Graham number Ratio for today is calculated as

Price to Graham number=Share Price (Today)/Graham number (Q: Dec. 2023 )
=19.34/39.21
=0.49

* 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.


Blackrock Enhanced Cap&Inc Fund, Graham Number Related Terms

Thank you for viewing the detailed overview of Blackrock Enhanced Cap&Inc Fund,'s Graham Number provided by GuruFocus.com. Please click on the following links to see related term pages.


Blackrock Enhanced Cap&Inc Fund, (Blackrock Enhanced Cap&Inc Fund,) Business Description

Traded in Other Exchanges
N/A
Address
100 Bellevue Parkway, Wilmington, DE, USA, 19809
Blackrock Enhanced Cap&Inc Fund, Inc is a closed-end management investment company. Its objective is to provide total return through a combination of current income and capital appreciation. The trust seeks to achieve its investment objective by investing a majority of its total assets in a portfolio of equity securities of U.S. and foreign issuers.
Executives
Arthur Philip Steinmetz director 50 HUDSON YARDS, NEW YORK NY 10001
Aaron David Wasserman officer: Chief Compliance Officer 50 HUDSON YARDS, NEW YORK NY 10001
Lorenzo Flores director 2100 LOGIC DRIVE, SAN JOSE CA 95124
James Phillip Holloman director P.O. BOX 625737, 6800 CINTAS BOULEVARD, CINCINNATI OH 45262
Stayce D. Harris director 1999 S. BASCOM AVE., SUITE 700, CAMPBELL CA 95008
Trent Walker officer: Chief Financial Officer C/O PIMCO, 650 NEWPORT CENTER DRIVE, NEWPORT BEACH CA 92660
Kyle Mcclements other: Portfolio Manager 100 BELLEVUE PARKWAY, WILMINGTON DE 19809
Joseph Wolfe other: Portfolio Manager 1 UNIVERSITY SQUARE DRIVE, PRINCETON NJ 08540
Christopher Accettella other: Portfolio Manager 100 BELLEVUE PARKWAY, WILMINGTON DE 19809
Todd Burnside other: Portfolio Manager 55 EAST 52ND STREET, NEW YORK NY 10055
Frank Fabozzi director 100 BELLEVUE PARKWAY, WILMINGTON DE 19809
Robert Glenn Hubbard director 100 BELLEVUE PARKWAY, WILMINGTON DE 19809
Richard Cavanagh director 100 BELLEVUE PARKWAY, WILMINGTON DE 19809
W Carl Kester director 100 BELLEVUE PARKWAY, WILMINGTON DE 19809
Karen P Robards director 800 SCUDDERS MILL RD, PLAINSBORO NJ 08536

Blackrock Enhanced Cap&Inc Fund, (Blackrock Enhanced Cap&Inc Fund,) Headlines

From GuruFocus

Blackrock Enhanced Cap&Inc Fund, Inc's Dividend Analysis

By GuruFocus Research 10-13-2023