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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.
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 (2026-09-01), the stock price of Asia Aviation PCL is €0.024. Asia Aviation PCL's graham number for the quarter that ended in Jun. 2026 was €N/A. Therefore, Asia Aviation PCL's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for Asia Aviation PCL's Graham Number or its related term are showing as below:
FRA:55AA's Price-to-Graham-Number is not ranked *
in the Transportation industry.
Industry Median: 1.02 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Asia Aviation PCL (FRA:55AA) 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.
Asia Aviation PCL's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
0.024
/
N/A
=
N/A
* 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.
Asia Aviation PCL Graham Number Related Terms
Asia Aviation PCL Graham Number Historical Data
* Premium members only.
The historical data trend for Asia Aviation PCL'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.
FRA:55AA vs DAL, UAL, LUV: Graham Number Comparison
For the Airlines subindustry, Asia Aviation PCL'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.
Asia Aviation PCL Price-to-Graham-Number vs Transportation Industry
For the Transportation industry and Industrials sector, Asia Aviation PCL's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Asia Aviation PCL'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.
Asia Aviation PCL (FRA:55AA) has a Graham Number of €N/A as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Asia Aviation PCL and its competitors. According to the industry distribution chart, Asia Aviation PCL ranks #999999 out of 746 companies in the Transportation industry.
Is Asia Aviation PCL's Graham Number too high?
Asia Aviation PCL's current Graham Number is €N/A. Based on the distribution chart, Asia Aviation PCL ranks #999999 out of 746 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Asia Aviation PCL has a GF Score™ of 64/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Asia Aviation PCL's Graham Number compare to DAL and UAL?
According to the Transportation industry distribution chart, Asia Aviation PCL ranks #999999 out of 746 companies for Graham Number. This places Asia Aviation PCL in the lower half of its industry. The industry median Graham Number is 1.02. 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 Transportation company?
The median Graham Number among Transportation companies is 1.02, based on 746 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 Asia Aviation PCL and its competitors. For the Transportation industry, the median Graham Number is 1.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asia Aviation PCL's current Graham Number is €N/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asia Aviation PCL stock overvalued right now?
Based on GuruFocus' analysis, Asia Aviation PCL (FRA:55AA) is currently considered Possible Value Trap. The stock's GF Value™ is €0.06, compared to a current price of €0.02 — trading 60% below its estimated fair value. The current Graham Number is €N/A. Asia Aviation PCL's overall GF Score™ is 64/100 with 4 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 Asia Aviation PCL (FRA:55AA), the current Graham Number is €N/A 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 Asia Aviation PCL (FRA:55AA) Overvalued in 2026?
Based on GuruFocus' analysis, Asia Aviation PCL stock appears to be undervalued.
The current stock price of €0.02 is trading 60% below its estimated GF Value™ of €0.06.
GuruFocus considers Asia Aviation PCL to be Possible Value Trap.
Key valuation signals for FRA:55AA:
Graham Number: €N/A
GF Value™: €0.06 vs. price of €0.02 (60% below fair value)
No single metric tells the full story. See the FRA:55AA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressVibhavadee Rangsit Road, 3rd Floor, Central Office Building, Room No. 3200, 222, Don Mueang International Airport, Sanam Bin District, Don Mueang District, Bangkok, THA, 10210
Asia Aviation PCL is a holding company for Thai AirAsia Company Ltd that is engaged in investing in a low-fare airline business company. It has two reportable operating segments: Schedule flight operations and Chartered flight operations. The majority of the group's revenue is generated from the Schedule flight operations segment, which provides passenger air transportation services to routine destinations for scheduled flights. The group sells tickets through its distribution channels such as website, sales counter, travel agents, etc. The Chartered flight operations offer passenger air transportation services to non-routine destinations. Flights are operated when there is a booking from customers, normally tourist agency companies. Geographically, the group operates only in Thailand.
64GF Score
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