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.
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 (2026-08-06), the stock price of Alexander & Baldwin is €17.80. Alexander & Baldwin's graham number for the quarter that ended in Dec. 2025 was €12.94. Therefore, Alexander & Baldwin's Price to Graham Number ratio for today is 1.38.
The historical rank and industry rank for Alexander & Baldwin's Graham Number or its related term are showing as below:
FRA:ABU'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.87 Med: 1.38 Max: 3.24
Current: 1.39
During the past 13 years, the highest Price to Graham Number ratio of Alexander & Baldwin was 3.24. The lowest was 0.87. And the median was 1.38.
FRA:ABU's Price-to-Graham-Number is not ranked
in the REITs industry.
Industry Median: 0.74
vs FRA:ABU: 1.39
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Alexander & Baldwin (FRA:ABU) 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.
Alexander & Baldwin's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
17.80
/
12.94
=
1.38
* 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.
Alexander & Baldwin Graham Number Related Terms
Alexander & Baldwin Graham Number Historical Data
* Premium members only.
The historical data trend for Alexander & Baldwin'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:ABU vs ALX, CBL, GTY: Graham Number Comparison
For the REIT - Retail subindustry, Alexander & Baldwin'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.
Alexander & Baldwin Price-to-Graham-Number vs REITs Industry
For the REITs industry and Real Estate sector, Alexander & Baldwin's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Alexander & Baldwin'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.
Alexander & Baldwin (FRA:ABU) has a Graham Number of €12.94 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Alexander & Baldwin and its competitors. This is 838% above median its historical median of 1.38. Over the past decade, Alexander & Baldwin's Graham Number has ranged from 0.87 to 3.24.
Is Alexander & Baldwin's Graham Number too high?
Alexander & Baldwin's current Graham Number of €12.94 is 838% above median its 10-year median of 1.38. Over the past 10 years, this metric has ranged from a low of 0.87 to a high of 3.24. Overall, Alexander & Baldwin has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does Alexander & Baldwin's Graham Number compare to ALX and CBL?
Alexander & Baldwin's Graham Number of €12.94 can be compared against companies in the REITs industry. The industry median Graham Number is 0.74. Historically, Alexander & Baldwin's own Graham Number has ranged from 0.87 to 3.24 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 REITs company?
The median Graham Number among REITs companies is 0.74, based on 724 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 Alexander & Baldwin and its competitors. For the REITs industry, the median Graham Number is 0.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Alexander & Baldwin's current Graham Number is €12.94, which is 838% above median its own 10-year median of 1.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Alexander & Baldwin stock overvalued right now?
Alexander & Baldwin (FRA:ABU) has a current Graham Number of €12.94. The stock's GF Value™ is €13.88, compared to a current price of €17.80 — trading 28.2% above its estimated fair value. The current Graham Number is €12.94, which is 838% above median its 10-year median of 1.38. Alexander & Baldwin's overall GF Score™ is 71/100 with 10 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 Alexander & Baldwin (FRA:ABU), the current Graham Number is €12.94 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 Alexander & Baldwin (FRA:ABU) Overvalued in 2026?
Based on GuruFocus' analysis, Alexander & Baldwin stock appears to be overvalued.
The current stock price of €17.80 is trading 28.2% above its estimated GF Value™ of €13.88.
Key valuation signals for FRA:ABU:
Graham Number: €12.94 (838% above median its 10-year median of 1.38)
GF Value™: €13.88 vs. price of €17.80 (28.2% above fair value)
No single metric tells the full story. See the FRA:ABU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Alexander & Baldwin Inc is a Hawaii commercial real estate company. The group owns, operates, and manages a million square feet of retail, industrial, and office space in Hawaii. It is a real estate investment trust (REIT) and the owner of grocery and drug-anchored retail centers in the state. It functions through two segments, namely Commercial Real Estate and Land Operations. The Commercial Real Estate segment owns and manages retail, industrial spaces, and also urban ground leases in Hawaii, thereby accounting for a majority of the company's revenue. The Land Operations segment actively manages the company's land and real estate-related assets and makes optimum utilization of these assets. Geographically, the activities are carried out across the United States.
71GF Score
Get the complete analysis for FRA:ABU
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
FRA:ABU has been successfully added to your 
