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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.
FRA:AXF1'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.23 Med: 1.54 Max: 10.58
Current: 1.64
During the past 13 years, the highest Price to Graham Number ratio of Construcciones y Auxiliar de Ferrocarriles was 10.58. The lowest was 1.23. And the median was 1.54.
FRA:AXF1's Price-to-Graham-Number is ranked worse than 74.53% of 742
companies
in the Transportation industry
Industry Median: 1.02
vs FRA:AXF1: 1.64
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Construcciones y Auxiliar de Ferrocarriles (FRA:AXF1) 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.
Construcciones y Auxiliar de Ferrocarriles's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
61.10
/
37.60
=
1.63
* 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.
Construcciones y Auxiliar de Ferrocarriles Graham Number Related Terms
Construcciones y Auxiliar de Ferrocarriles 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.
Construcciones y Auxiliar de Ferrocarriles Graham Number Chart
Construcciones y Auxiliar de Ferrocarriles Annual Data
FRA:AXF1 vs UNP, CSX, NSC: Graham Number Comparison
For the Railroads subindustry, Construcciones y Auxiliar de Ferrocarriles'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.
Construcciones y Auxiliar de Ferrocarriles Price-to-Graham-Number vs Transportation Industry
* 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.
Construcciones y Auxiliar de Ferrocarriles (FRA:AXF1) has a Graham Number of €37.60 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Construcciones y Auxiliar de Ferrocarriles and its competitors. This is 2342% above median its historical median of 1.54. Over the past decade, Construcciones y Auxiliar de Ferrocarriles' Graham Number has ranged from 1.23 to 10.58. According to the industry distribution chart, Construcciones y Auxiliar de Ferrocarriles ranks #553 out of 742 companies in the Transportation industry, placing it in the top 74.5%.
Is Construcciones y Auxiliar de Ferrocarriles' Graham Number too high?
Construcciones y Auxiliar de Ferrocarriles' current Graham Number of €37.60 is 2342% above median its 10-year median of 1.54. Over the past 10 years, this metric has ranged from a low of 1.23 to a high of 10.58. Based on the distribution chart, Construcciones y Auxiliar de Ferrocarriles ranks #553 out of 742 companies in the Transportation industry, which is below the industry midpoint. Overall, Construcciones y Auxiliar de Ferrocarriles has a GF Score™ of 96/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Construcciones y Auxiliar de Ferrocarriles' Graham Number compare to UNP and CSX?
According to the Transportation industry distribution chart, Construcciones y Auxiliar de Ferrocarriles ranks #553 out of 742 companies for Graham Number. This places Construcciones y Auxiliar de Ferrocarriles in the lower half of its industry. The industry median Graham Number is 1.02. Historically, Construcciones y Auxiliar de Ferrocarriles' own Graham Number has ranged from 1.23 to 10.58 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 Transportation company?
The median Graham Number among Transportation companies is 1.02, based on 742 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 Construcciones y Auxiliar de Ferrocarriles 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. Construcciones y Auxiliar de Ferrocarriles's current Graham Number is €37.60, which is 2342% above median its own 10-year median of 1.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Construcciones y Auxiliar de Ferrocarriles stock overvalued right now?
Based on GuruFocus' analysis, Construcciones y Auxiliar de Ferrocarriles (FRA:AXF1) is currently considered Significantly Overvalued. The stock's GF Value™ is €42.61, compared to a current price of €61.10 — trading 43.4% above its estimated fair value. The current Graham Number is €37.60, which is 2342% above median its 10-year median of 1.54. Construcciones y Auxiliar de Ferrocarriles' overall GF Score™ is 96/100 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 Construcciones y Auxiliar de Ferrocarriles (FRA:AXF1), the current Graham Number is €37.60 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 Construcciones y Auxiliar de Ferrocarriles (FRA:AXF1) Overvalued in 2026?
Based on GuruFocus' analysis, Construcciones y Auxiliar de Ferrocarriles stock appears to be overvalued.
The current stock price of €61.10 is trading 43.4% above its estimated GF Value™ of €42.61.
GuruFocus considers Construcciones y Auxiliar de Ferrocarriles to be Significantly Overvalued.
Key valuation signals for FRA:AXF1:
Graham Number: €37.60 (2342% above median its 10-year median of 1.54)
GF Value™: €42.61 vs. price of €61.10 (43.4% above fair value)
No single metric tells the full story. See the FRA:AXF1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Construcciones y Auxiliar de Ferrocarriles Business Description
Construcciones y Auxiliar de Ferrocarriles SA is a Spain-based company that offers comprehensive railway solutions. The company's train-related products comprise high-speed rolling stock, wheelsets, traction and communication systems, signaling systems, and related services including vehicle maintenance, vehicle upgrading and refurbishment, and aftersales technical supports. In addition to supplying train-related products, the company also helps customers conduct viability studies, civil work, electrification projects, and system operation. The company operates under concession or turnkey models. Construcciones y Auxiliar de Ferrocarriles has a global presence, with Europe and Brazil being the two largest markets.
96GF Score
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