Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Mutual Trust BankDHA:MTB -1.49%88 Graham Number is BDT40.46 as of Jun. 2026, which is 100% below its 10-year median of 0.56. GuruFocus rates DHA:MTB with a GF Score™ of 88/100 and a GF Value™ of BDT11.52 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,429 Banks companies, Mutual Trust Bank ranks better than 93.42% 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 (2026-08-08), the stock price of Mutual Trust Bank is BDT13.20. Mutual Trust Bank's graham number for the quarter that ended in Jun. 2026 was BDT40.46. Therefore, Mutual Trust Bank's Price to Graham Number ratio for today is 0.33.
The historical rank and industry rank for Mutual Trust Bank's Graham Number or its related term are showing as below:
DHA:MTB'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.27 Med: 0.56 Max: 1.02
Current: 0.34
During the past 13 years, the highest Price to Graham Number ratio of Mutual Trust Bank was 1.02. The lowest was 0.27. And the median was 0.56.
DHA:MTB's Price-to-Graham-Number is ranked better than 93.42% of 1429
companies
in the Banks industry
Industry Median: 0.81
vs DHA:MTB: 0.34
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Mutual Trust Bank (DHA:MTB) 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.
Mutual Trust Bank's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
13.20
/
40.46
=
0.33
* 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.
Mutual Trust Bank Graham Number Related Terms
Mutual Trust Bank Graham Number Historical Data
* Premium members only.
The historical data trend for Mutual Trust Bank'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.
Mutual Trust Bank Graham Number Competitor Comparison
For the Banks - Regional subindustry, Mutual Trust Bank'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.
Mutual Trust Bank Price-to-Graham-Number vs Banks Industry
For the Banks industry and Financial Services sector, Mutual Trust Bank's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Mutual Trust Bank'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.
Mutual Trust Bank (DHA:MTB) has a Graham Number of BDT40.46 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Mutual Trust Bank and its competitors. This is 7125% above median its historical median of 0.56. Over the past decade, Mutual Trust Bank's Graham Number has ranged from 0.27 to 1.02. According to the industry distribution chart, Mutual Trust Bank ranks #94 out of 1429 companies in the Banks industry, placing it in the top 6.6%.
Is Mutual Trust Bank's Graham Number too high?
Mutual Trust Bank's current Graham Number of BDT40.46 is 7125% above median its 10-year median of 0.56. Over the past 10 years, this metric has ranged from a low of 0.27 to a high of 1.02. Based on the distribution chart, Mutual Trust Bank ranks #94 out of 1429 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Mutual Trust Bank has a GF Score™ of 88/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mutual Trust Bank's Graham Number compare to competitors?
According to the Banks industry distribution chart, Mutual Trust Bank ranks #94 out of 1429 companies for Graham Number. This places Mutual Trust Bank in the top 7% of its industry — outperforming the majority of peers. The industry median Graham Number is 0.81. Historically, Mutual Trust Bank's own Graham Number has ranged from 0.27 to 1.02 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 Banks company?
The median Graham Number among Banks companies is 0.81, based on 1,429 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 Mutual Trust Bank and its competitors. For the Banks industry, the median Graham Number is 0.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mutual Trust Bank's current Graham Number is BDT40.46, which is 7125% above median its own 10-year median of 0.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mutual Trust Bank stock overvalued right now?
Based on GuruFocus' analysis, Mutual Trust Bank (DHA:MTB) is currently considered Modestly Overvalued. The stock's GF Value™ is BDT11.52, compared to a current price of BDT13.20 — trading 14.6% above its estimated fair value. The current Graham Number is BDT40.46, which is 7125% above median its 10-year median of 0.56. Mutual Trust Bank's overall GF Score™ is 88/100 with 6 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 Mutual Trust Bank (DHA:MTB), the current Graham Number is BDT40.46 as of Jun. 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 Mutual Trust Bank (DHA:MTB) Overvalued in 2026?
Based on GuruFocus' analysis, Mutual Trust Bank stock appears to be overvalued.
The current stock price of BDT13.20 is trading 14.6% above its estimated GF Value™ of BDT11.52.
GuruFocus considers Mutual Trust Bank to be Modestly Overvalued.
Key valuation signals for DHA:MTB:
Graham Number: BDT40.46 (7125% above median its 10-year median of 0.56)
GF Value™: BDT11.52 vs. price of BDT13.20 (14.6% above fair value)
No single metric tells the full story. See the DHA:MTB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mutual Trust Bank PLC is a company that engages in the provision of various commercial banking and related services. Its products and services include savings and current accounts, and fixed deposits; personal, auto, home, home equity, and professional's loan products; overdraft facilities; credit cards; and locker services. The company's reportable segments include DBO (Domestic Banking Operation), OBU (Offshore Banking Unit), MTB Securities Limited, and MTB Capital Limited.
88GF Score
Get the complete analysis for DHA:MTB
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
DHA:MTB has been successfully added to your 
