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Honeywell AerospaceFRA:AW8 -0.15%26 Graham Number is €30.50 as of Dec. 2025. GuruFocus rates FRA:AW8 with a GF Score™ of 26/100. The stock has 1 warning sign investors should review. Among 215 Aerospace & Defense companies, Honeywell Aerospace ranks worse than 66.51% 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 (2026-08-17), the stock price of Honeywell Aerospace is €143.90. Honeywell Aerospace's graham number for the quarter that ended in Dec. 2025 was €30.50. Therefore, Honeywell Aerospace's Price to Graham Number ratio for today is 4.72.
The historical rank and industry rank for Honeywell Aerospace's Graham Number or its related term are showing as below:
FRA:AW8'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0 Med: 0 Max: 4.66
Current: 4.66
During the past 3 years, the highest Price to Graham Number ratio of Honeywell Aerospace was 4.66. The lowest was 0.00. And the median was 0.00.
FRA:AW8's Price-to-Graham-Number is ranked worse than 66.51% of 215
companies
in the Aerospace & Defense industry
Industry Median: 3.41
vs FRA:AW8: 4.66
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Honeywell Aerospace (FRA:AW8) 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.
Honeywell Aerospace's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
143.90
/
30.50
=
4.72
* 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.
Honeywell Aerospace Graham Number Related Terms
Honeywell Aerospace Graham Number Historical Data
* Premium members only.
The historical data trend for Honeywell Aerospace'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.
Honeywell Aerospace Graham Number Chart
Honeywell Aerospace Annual Data
Trend
Dec23
Dec24
Dec25
Graham Number
0.00
45.36
30.50
Honeywell Aerospace Semi-Annual Data
Dec23
Dec24
Dec25
Graham Number
0.00
45.36
30.50
FRA:AW8 vs TDG, LHX, NOC: Graham Number Comparison
For the Aerospace & Defense subindustry, Honeywell Aerospace'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.
Honeywell Aerospace Price-to-Graham-Number vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Honeywell Aerospace's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Honeywell Aerospace'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.
Honeywell Aerospace (FRA:AW8) has a Graham Number of €30.50 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Honeywell Aerospace and its competitors. According to the industry distribution chart, Honeywell Aerospace ranks #143 out of 215 companies in the Aerospace & Defense industry, placing it in the top 66.5%.
Is Honeywell Aerospace's Graham Number too high?
Honeywell Aerospace's current Graham Number is €30.50. Based on the distribution chart, Honeywell Aerospace ranks #143 out of 215 companies in the Aerospace & Defense industry, which is below the industry midpoint. Overall, Honeywell Aerospace has a GF Score™ of 26/100, reflecting its overall financial health beyond just this single metric.
How does Honeywell Aerospace's Graham Number compare to TDG and LHX?
According to the Aerospace & Defense industry distribution chart, Honeywell Aerospace ranks #143 out of 215 companies for Graham Number. This places Honeywell Aerospace in the lower half of its industry. The industry median Graham Number is 3.41. 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 an Aerospace & Defense company?
The median Graham Number among Aerospace & Defense companies is 3.41, based on 215 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 Honeywell Aerospace and its competitors. For the Aerospace & Defense industry, the median Graham Number is 3.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Honeywell Aerospace's current Graham Number is €30.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Honeywell Aerospace stock overvalued right now?
Honeywell Aerospace (FRA:AW8) has a current Graham Number of €30.50. The current Graham Number is €30.50. Honeywell Aerospace's overall GF Score™ is 26/100 with 1 warning sign 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 Honeywell Aerospace (FRA:AW8), the current Graham Number is €30.50 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.
Honeywell Aerospace Inc operates as an aerospace and defense supplier of systems and technologies that enable the production, maintenance, and safe operation of aerospace and defense platforms. Its products support original equipment manufacturer (OEM), government, defense prime contractor, and aircraft operator customers across the Commercial Air Transport, Business Aviation, and Defense and Space end markets. The company has three operating segments: Electronic Solutions (ES), Engines & Power Systems (E&PS), and Control Systems (CS ). The majority of revenue is derived from the Electronic Solutions segment, which offers Avionics, Navigation and Sensors, Electromagnetic Defensive Solutions, and Space systems. Geographically, the maximum revenue is generated from the United States.
26GF Score
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