Covalon TechnologiesCVALF -1.79%83 Graham Number is $0.75 as of Mar. 2026, which is 66% below its 10-year median of 2.19. GuruFocus rates CVALF with a GF Score™ of 83/100 and a GF Value™ of $1.53 (Fairly Valued). The stock has 2 warning signs investors should review. Among 399 Medical Devices & Instruments companies, Covalon Technologies ranks worse than 60.65% 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 (2026-07-09), the stock price of Covalon Technologies is $1.51. Covalon Technologies's graham number for the quarter that ended in Mar. 2026 was $0.75. Therefore, Covalon Technologies's Price to Graham Number ratio for today is 2.03.
The historical rank and industry rank for Covalon Technologies's Graham Number or its related term are showing as below:
CVALF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.19 Med: 2.19 Max: 10
Current: 2.07
During the past 13 years, the highest Price to Graham Number ratio of Covalon Technologies was 10.00. The lowest was 1.19. And the median was 2.19.
CVALF's Price-to-Graham-Number is ranked worse than 60.65% of 399
companies
in the Medical Devices & Instruments industry
Industry Median: 1.74
vs CVALF: 2.07
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Covalon Technologies (OTCPK:CVALF) 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.
Covalon Technologies's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
1.51
/
0.75
=
2.03
* 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.
Covalon Technologies Graham Number Related Terms
Covalon Technologies Graham Number Historical Data
* Premium members only.
The historical data trend for Covalon Technologies'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.
CVALF vs ISRG, BDX, MDLN: Graham Number Comparison
For the Medical Instruments & Supplies subindustry, Covalon Technologies'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.
Covalon Technologies Price-to-Graham-Number vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Covalon Technologies's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Covalon Technologies'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.
Covalon Technologies (CVALF) has a Graham Number of $0.75 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Covalon Technologies and its competitors. This is 66% below median its historical median of 2.19. Over the past decade, Covalon Technologies' Graham Number has ranged from 1.19 to 10.00. According to the industry distribution chart, Covalon Technologies ranks #242 out of 399 companies in the Medical Devices & Instruments industry, placing it in the top 60.7%.
Is Covalon Technologies' Graham Number too high?
Covalon Technologies' current Graham Number of $0.75 is 66% below median its 10-year median of 2.19. Over the past 10 years, this metric has ranged from a low of 1.19 to a high of 10.00. The Medical Devices & Instruments industry median Graham Number is 1.74. Covalon Technologies' value of $0.75 is 56.9% below this industry median. Based on the distribution chart, Covalon Technologies ranks #242 out of 399 companies in the Medical Devices & Instruments industry, which is below the industry midpoint. Overall, Covalon Technologies has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Covalon Technologies' Graham Number compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Covalon Technologies ranks #242 out of 399 companies for Graham Number. This places Covalon Technologies in the lower half of its industry. The industry median Graham Number is 1.74. Covalon Technologies' value of $0.75 is 56.9% below this benchmark. Historically, Covalon Technologies' own Graham Number has ranged from 1.19 to 10.00 over the past decade. While the company's 10-year median is 2.19 vs. the industry median of 1.74, Covalon Technologies has consistently been below the industry average. 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 Medical Devices & Instruments company?
The median Graham Number among Medical Devices & Instruments companies is 1.74, based on 399 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. Covalon Technologies's current Graham Number of $0.75 is 56.9% below the industry median. 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 Covalon Technologies and its competitors. For the Medical Devices & Instruments industry, the median Graham Number is 1.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Covalon Technologies's current Graham Number is $0.75, which is 66% below median its own 10-year median of 2.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Covalon Technologies stock overvalued right now?
Based on GuruFocus' analysis, Covalon Technologies (CVALF) is currently considered Fairly Valued. The stock's GF Value™ is $1.53, compared to a current price of $1.51 — trading 1.3% below its estimated fair value. The current Graham Number is $0.75, which is 66% below median its 10-year median of 2.19 and 56.9% below the Medical Devices & Instruments industry median of 1.74. Covalon Technologies' overall GF Score™ is 83/100 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 Covalon Technologies (CVALF), the current Graham Number is $0.75 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 Covalon Technologies (CVALF) Overvalued in 2026?
Based on GuruFocus' analysis, Covalon Technologies stock appears to be undervalued.
The current stock price of $1.51 is trading 1.3% below its estimated GF Value™ of $1.53.
GuruFocus considers Covalon Technologies to be Fairly Valued.
Key valuation signals for CVALF:
Graham Number: $0.75 (66% below median its 10-year median of 2.19)
GF Value™: $1.53 vs. price of $1.51 (1.3% below fair value)
Industry Position: 56.9% below the Medical Devices & Instruments median (#242 of 399)
No single metric tells the full story. See the CVALF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Covalon Technologies Ltd is engaged in the business of researching, developing, manufacturing, and marketing patent-protected medical products that improve patient outcomes in the areas of infection management, wound care, and surgical procedures. The company generates revenue through development contracts, licensing agreements, distribution contracts, and sales. Its products include IV dressings, surgical site protection products, vascular access protection products, and others, and its solutions include primary dressing cover, vascular access technologies, advanced wound care, sensitive skin solutions, custom medical coatings, and patient resource support.
83GF Score
Get the complete analysis for CVALF
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
CVALF has been successfully added to your 
