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Corticeira Amorim SGPSFRA:AS4 -0.63%67 Graham Number is €6.66 as of Mar. 2026, which is 100% below its 10-year median of 1.41. GuruFocus rates FRA:AS4 with a GF Score™ of 67/100 and a GF Value™ of €7.41 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 172 Forest Products companies, Corticeira Amorim SGPS ranks worse than 55.81% 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.
The historical rank and industry rank for Corticeira Amorim SGPS's Graham Number or its related term are showing as below:
FRA:AS4'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.95 Med: 1.41 Max: 2.1
Current: 0.96
During the past 13 years, the highest Price to Graham Number ratio of Corticeira Amorim SGPS was 2.10. The lowest was 0.95. And the median was 1.41.
FRA:AS4's Price-to-Graham-Number is ranked worse than 55.81% of 172
companies
in the Forest Products industry
Industry Median: 0.89
vs FRA:AS4: 0.96
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Corticeira Amorim SGPS (FRA:AS4) 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.
Corticeira Amorim SGPS's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
6.27
/
6.66
=
0.94
* 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.
Corticeira Amorim SGPS Graham Number Related Terms
Corticeira Amorim SGPS 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.
FRA:AS4 vs SSD, UFPI, BCC: Graham Number Comparison
For the Lumber & Wood Production subindustry, Corticeira Amorim SGPS'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.
Corticeira Amorim SGPS Price-to-Graham-Number vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Corticeira Amorim SGPS's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Corticeira Amorim SGPS'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.
Corticeira Amorim SGPS (FRA:AS4) has a Graham Number of €6.66 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Corticeira Amorim SGPS and its competitors. This is 372% above median its historical median of 1.41. Over the past decade, Corticeira Amorim SGPS's Graham Number has ranged from 0.95 to 2.10. According to the industry distribution chart, Corticeira Amorim SGPS ranks #96 out of 172 companies in the Forest Products industry, placing it in the top 55.8%.
Is Corticeira Amorim SGPS's Graham Number too high?
Corticeira Amorim SGPS's current Graham Number of €6.66 is 372% above median its 10-year median of 1.41. Over the past 10 years, this metric has ranged from a low of 0.95 to a high of 2.10. Based on the distribution chart, Corticeira Amorim SGPS ranks #96 out of 172 companies in the Forest Products industry, which is below the industry midpoint. Overall, Corticeira Amorim SGPS has a GF Score™ of 67/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Corticeira Amorim SGPS's Graham Number compare to SSD and UFPI?
According to the Forest Products industry distribution chart, Corticeira Amorim SGPS ranks #96 out of 172 companies for Graham Number. This places Corticeira Amorim SGPS in the lower half of its industry. The industry median Graham Number is 0.89. Historically, Corticeira Amorim SGPS's own Graham Number has ranged from 0.95 to 2.10 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 Forest Products company?
The median Graham Number among Forest Products companies is 0.89, based on 172 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 Corticeira Amorim SGPS and its competitors. For the Forest Products industry, the median Graham Number is 0.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Corticeira Amorim SGPS's current Graham Number is €6.66, which is 372% above median its own 10-year median of 1.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Corticeira Amorim SGPS stock overvalued right now?
Based on GuruFocus' analysis, Corticeira Amorim SGPS (FRA:AS4) is currently considered Modestly Undervalued. The stock's GF Value™ is €7.41, compared to a current price of €6.27 — trading 15.4% below its estimated fair value. The current Graham Number is €6.66, which is 372% above median its 10-year median of 1.41. Corticeira Amorim SGPS's overall GF Score™ is 67/100 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 Corticeira Amorim SGPS (FRA:AS4), the current Graham Number is €6.66 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 Corticeira Amorim SGPS (FRA:AS4) Overvalued in 2026?
Based on GuruFocus' analysis, Corticeira Amorim SGPS stock appears to be undervalued.
The current stock price of €6.27 is trading 15.4% below its estimated GF Value™ of €7.41.
GuruFocus considers Corticeira Amorim SGPS to be Modestly Undervalued.
Key valuation signals for FRA:AS4:
Graham Number: €6.66 (372% above median its 10-year median of 1.41)
GF Value™: €7.41 vs. price of €6.27 (15.4% below fair value)
No single metric tells the full story. See the FRA:AS4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Corticeira Amorim SGPS SA is mainly engaged in the acquisition and transformation of cork into a numerous set of cork and cork-related products, which are distributed through its network of sales companies. Its business units are Amorim Florestal, Amorim Cork, and Amorim Cork Solutions. It derives the majority of the revenue from Amorim Cork segment which produces different types of existing cork stoppers. The main markets are the bottling countries, from the traditional ones like France, Italy, Germany, Spain and Portugal, to the new markets like USA, Australia, Chile, South Africa and Argentina. Geographically, its operations are spread across EU, USA, Rest of America, Australasia, Portugal, Africa, and Rest of Europe.
67GF Score
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