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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.
DFM:EMPOWER'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.76 Med: 2.21 Max: 2.55
Current: 1.99
During the past 7 years, the highest Price to Graham Number ratio of Emirates Central Cooling Systems PJSC was 2.55. The lowest was 1.76. And the median was 2.21.
DFM:EMPOWER's Price-to-Graham-Number is ranked worse than 83.17% of 416
companies
in the Utilities - Regulated industry
Industry Median: 1.12
vs DFM:EMPOWER: 1.99
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Emirates Central Cooling Systems PJSC (DFM:EMPOWER) 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.
Emirates Central Cooling Systems PJSC's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
1.61
/
0.81
=
1.98
* 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.
Emirates Central Cooling Systems PJSC Graham Number Related Terms
Emirates Central Cooling Systems PJSC Graham Number Historical Data
* 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.
Emirates Central Cooling Systems PJSC Graham Number Chart
DFM:EMPOWER vs AWK, WTRG, AWR: Graham Number Comparison
For the Utilities - Regulated Water subindustry, Emirates Central Cooling Systems PJSC'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.
Emirates Central Cooling Systems PJSC Price-to-Graham-Number vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Emirates Central Cooling Systems PJSC's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Emirates Central Cooling Systems PJSC'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.
Emirates Central Cooling Systems PJSC (DFM:EMPOWER) has a Graham Number of د.إ0.81 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Emirates Central Cooling Systems PJSC and its competitors. Over the past decade, Emirates Central Cooling Systems PJSC's Graham Number has ranged from 1.76 to 2.55. According to the industry distribution chart, Emirates Central Cooling Systems PJSC ranks #346 out of 416 companies in the Utilities - Regulated industry, placing it in the top 83.2%.
Is Emirates Central Cooling Systems PJSC's Graham Number too high?
Emirates Central Cooling Systems PJSC's current Graham Number is د.إ0.81. Over the past 10 years, this metric has ranged from a low of 1.76 to a high of 2.55. Based on the distribution chart, Emirates Central Cooling Systems PJSC ranks #346 out of 416 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Emirates Central Cooling Systems PJSC has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Emirates Central Cooling Systems PJSC's Graham Number compare to AWK and WTRG?
According to the Utilities - Regulated industry distribution chart, Emirates Central Cooling Systems PJSC ranks #346 out of 416 companies for Graham Number. This places Emirates Central Cooling Systems PJSC in the lower half of its industry. The industry median Graham Number is 1.12. Historically, Emirates Central Cooling Systems PJSC's own Graham Number has ranged from 1.76 to 2.55 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 an Utilities - Regulated company?
The median Graham Number among Utilities - Regulated companies is 1.12, based on 416 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 Emirates Central Cooling Systems PJSC and its competitors. For the Utilities - Regulated industry, the median Graham Number is 1.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Emirates Central Cooling Systems PJSC's current Graham Number is د.إ0.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Emirates Central Cooling Systems PJSC stock overvalued right now?
Based on GuruFocus' analysis, Emirates Central Cooling Systems PJSC (DFM:EMPOWER) is currently considered Modestly Undervalued. The stock's GF Value™ is د.إ1.87, compared to a current price of د.إ1.61 — trading 13.9% below its estimated fair value. The current Graham Number is د.إ0.81. Emirates Central Cooling Systems PJSC's overall GF Score™ is 79/100 with 5 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 Emirates Central Cooling Systems PJSC (DFM:EMPOWER), the current Graham Number is د.إ0.81 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 Emirates Central Cooling Systems PJSC (DFM:EMPOWER) Overvalued in 2026?
Based on GuruFocus' analysis, Emirates Central Cooling Systems PJSC stock appears to be undervalued.
The current stock price of د.إ1.61 is trading 13.9% below its estimated GF Value™ of د.إ1.87.
GuruFocus considers Emirates Central Cooling Systems PJSC to be Modestly Undervalued.
Key valuation signals for DFM:EMPOWER:
Graham Number: د.إ0.81
GF Value™: د.إ1.87 vs. price of د.إ1.61 (13.9% below fair value)
No single metric tells the full story. See the DFM:EMPOWER stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Emirates Central Cooling Systems PJSC Business Description
Emirates Central Cooling Systems Corp PJSC offers district cooling services, and management, operation, and maintenance of central cooling plants and related distribution networks. The group has two operating and reportable segments: Chilled water and Pre-insulated pipe business. The majority of its revenue is generated from the Chilled water segment, which constructs, owns, assembles, installs, operates, and maintains cooling and conditioning systems. In addition, it distributes and sells chilled water for use in district cooling technologies. The Pre-insulated pipe business is involved in manufacturing, assembling, and selling activities relating to the expansion of the group's chilled water business. Geographically, the group generates all of its revenue from the United Arab Emirates.
79GF Score
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