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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.
The historical rank and industry rank for First National of Nebraska's Graham Number or its related term are showing as below:
FINN'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.62 Med: 0.77 Max: 0.92
Current: 0.81
During the past 11 years, the highest Price to Graham Number ratio of First National of Nebraska was 0.92. The lowest was 0.62. And the median was 0.77.
FINN's Price-to-Graham-Number is ranked worse than 53.59% of 1420
companies
in the Banks industry
Industry Median: 0.82
vs FINN: 0.81
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
First National of Nebraska (OTCPK:FINN) 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.
First National of Nebraska's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
19101.00
/
23,716.54
=
0.81
* 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.
First National of Nebraska Graham Number Related Terms
First National of Nebraska 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.
For the Banks - Regional subindustry, First National of Nebraska'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.
First National of Nebraska Price-to-Graham-Number vs Banks Industry
For the Banks industry and Financial Services sector, First National of Nebraska's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where First National of Nebraska'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.
First National of Nebraska (FINN) has a Graham Number of $17,440.07 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on First National of Nebraska and its competitors. According to the industry distribution chart, First National of Nebraska ranks #761 out of 1420 companies in the Banks industry, placing it in the top 53.6%.
Is First National of Nebraska's Graham Number too high?
First National of Nebraska's current Graham Number is $17,440.07. The Banks industry median Graham Number is 0.82. First National of Nebraska's value of $17,440.07 is 2126737.8% above this industry median. Based on the distribution chart, First National of Nebraska ranks #761 out of 1420 companies in the Banks industry, which is below the industry midpoint. Overall, First National of Nebraska has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does First National of Nebraska's Graham Number compare to OZK and EBC?
According to the Banks industry distribution chart, First National of Nebraska ranks #761 out of 1420 companies for Graham Number. This places First National of Nebraska in the lower half of its industry. The industry median Graham Number is 0.82. First National of Nebraska's value of $17,440.07 is 2126737.8% above this benchmark. 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 0.82, based on 1,420 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. First National of Nebraska's current Graham Number of $17,440.07 is 2126737.8% 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 First National of Nebraska and its competitors. For the Banks industry, the median Graham Number is 0.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First National of Nebraska's current Graham Number is $17,440.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First National of Nebraska stock overvalued right now?
First National of Nebraska (FINN) has a current Graham Number of $17,440.07. The stock's GF Value™ is $15,826.54, compared to a current price of $19,101.00 — trading 20.7% above its estimated fair value. The current Graham Number is $17,440.07 and 2126737.8% above the Banks industry median of 0.82. First National of Nebraska's overall GF Score™ is 15/100 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 First National of Nebraska (FINN), the current Graham Number is $17,440.07 as of Dec. 2025. 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 First National of Nebraska (FINN) Overvalued in 2026?
Based on GuruFocus' analysis, First National of Nebraska stock appears to be overvalued.
The current stock price of $19,101.00 is trading 20.7% above its estimated GF Value™ of $15,826.54.
Key valuation signals for FINN:
Graham Number: $17,440.07
GF Value™: $15,826.54 vs. price of $19,101.00 (20.7% above fair value)
Industry Position: 2126737.8% above the Banks median (#761 of 1420)
No single metric tells the full story. See the FINN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First National of Nebraska Inc is a Nebraska-based interstate financial holding company operated by its banking subsidiary. Additionally, the Company has nonbanking subsidiaries engaged in various businesses, including technology hosting and related activities. The Bank's primary objective is to enhance the financial well-being of its customers through a customer-centric business model focused on providing financial advice and guidance and relevant financial solutions. The Bank supports its business customers with real estate, commercial, and agriculture loans as well as cash and wealth management solutions.
15GF Score
Get the complete analysis for FINN
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