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Donaldson CoDCI +0.30%93 Graham Number is $28.42 as of Apr. 2026, which is 777% above its 10-year median of 3.24. GuruFocus rates DCI with a GF Score™ of 93/100 and a GF Value™ of $81.47 (Modestly Overvalued). Among 2,201 Industrial Products companies, Donaldson Co ranks worse than 75.15% 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 (2026-07-22), the stock price of Donaldson Co is $90.45. Donaldson Co's graham number for the quarter that ended in Apr. 2026 was $28.42. Therefore, Donaldson Co's Price to Graham Number ratio for today is 3.18.
The historical rank and industry rank for Donaldson Co's Graham Number or its related term are showing as below:
DCI'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 2.71 Med: 3.24 Max: 3.92
Current: 3.17
During the past 13 years, the highest Price to Graham Number ratio of Donaldson Co was 3.92. The lowest was 2.71. And the median was 3.24.
DCI's Price-to-Graham-Number is ranked worse than 75.15% of 2201
companies
in the Industrial Products industry
Industry Median: 1.66
vs DCI: 3.17
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Donaldson Co (NYSE:DCI) 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.
Donaldson Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Apr. 2026 )
=
90.45
/
28.42
=
3.18
* 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.
Donaldson Co Graham Number Related Terms
Donaldson Co Graham Number Historical Data
* Premium members only.
The historical data trend for Donaldson Co'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 Specialty Industrial Machinery subindustry, Donaldson Co'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.
Donaldson Co Price-to-Graham-Number vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Donaldson Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Donaldson Co'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.
Donaldson Co (DCI) has a Graham Number of $28.42 as of Apr. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Donaldson Co and its competitors. This is 777% above median its historical median of 3.24. Over the past decade, Donaldson Co's Graham Number has ranged from 2.71 to 3.92. According to the industry distribution chart, Donaldson Co ranks #1654 out of 2201 companies in the Industrial Products industry, placing it in the top 75.1%.
Is Donaldson Co's Graham Number too high?
Donaldson Co's current Graham Number of $28.42 is 777% above median its 10-year median of 3.24. Over the past 10 years, this metric has ranged from a low of 2.71 to a high of 3.92. The Industrial Products industry median Graham Number is 1.66. Donaldson Co's value of $28.42 is 1612% above this industry median. Based on the distribution chart, Donaldson Co ranks #1654 out of 2201 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Donaldson Co has a GF Score™ of 93/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Donaldson Co's Graham Number compare to GTLS and FLS?
According to the Industrial Products industry distribution chart, Donaldson Co ranks #1654 out of 2201 companies for Graham Number. This places Donaldson Co in the lower half of its industry. The industry median Graham Number is 1.66. Donaldson Co's value of $28.42 is 1612% above this benchmark. Historically, Donaldson Co's own Graham Number has ranged from 2.71 to 3.92 over the past decade. While the company's 10-year median is 3.24 vs. the industry median of 1.66, Donaldson Co has consistently been above 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 an Industrial Products company?
The median Graham Number among Industrial Products companies is 1.66, based on 2,201 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. Donaldson Co's current Graham Number of $28.42 is 1612% above 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 Donaldson Co and its competitors. For the Industrial Products industry, the median Graham Number is 1.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Donaldson Co's current Graham Number is $28.42, which is 777% above median its own 10-year median of 3.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Donaldson Co stock overvalued right now?
Based on GuruFocus' analysis, Donaldson Co (DCI) is currently considered Modestly Overvalued. The stock's GF Value™ is $81.47, compared to a current price of $90.45 — trading 11% above its estimated fair value. The current Graham Number is $28.42, which is 777% above median its 10-year median of 3.24 and 1612% above the Industrial Products industry median of 1.66. Donaldson Co's overall GF Score™ is 93/100. 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 Donaldson Co (DCI), the current Graham Number is $28.42 as of Apr. 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 Donaldson Co (DCI) Overvalued in 2026?
Based on GuruFocus' analysis, Donaldson Co stock appears to be overvalued.
The current stock price of $90.45 is trading 11% above its estimated GF Value™ of $81.47.
GuruFocus considers Donaldson Co to be Modestly Overvalued.
Key valuation signals for DCI:
Graham Number: $28.42 (777% above median its 10-year median of 3.24)
GF Value™: $81.47 vs. price of $90.45 (11% above fair value)
Industry Position: 1612% above the Industrial Products median (#1654 of 2201)
No single metric tells the full story. See the DCI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Donaldson is a leading manufacturer of filtration systems and replacement parts, including air filtration systems, liquid filtration systems, and dust, fume, and mist collectors. The company serves a diverse range of end markets, including construction, mining, agriculture, truck, and industrial. Its business is organized into three segments: mobile solutions, industrial solutions, and life sciences. Donaldson generated approximately $3.7 billion in revenue in its fiscal 2025.
93GF Score
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