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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:CHE'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.39 Med: 0.51 Max: 1.25
Current: 0.39
During the past 12 years, the highest Price to Graham Number ratio of China CITIC Financial Asset Management Co was 1.25. The lowest was 0.39. And the median was 0.51.
FRA:CHE's Price-to-Graham-Number is ranked better than 86.67% of 1170
companies
in the Asset Management industry
Industry Median: 0.69
vs FRA:CHE: 0.39
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
China CITIC Financial Asset Management Co (FRA:CHE) 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.
China CITIC Financial Asset Management Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
0.062
/
0.18
=
0.35
* 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.
China CITIC Financial Asset Management Co Graham Number Related Terms
China CITIC Financial Asset Management Co 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.
China CITIC Financial Asset Management Co Graham Number Chart
China CITIC Financial Asset Management Co Annual Data
For the Asset Management subindustry, China CITIC Financial Asset Management Co'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.
China CITIC Financial Asset Management Co Price-to-Graham-Number vs Asset Management Industry
For the Asset Management industry and Financial Services sector, China CITIC Financial Asset Management Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where China CITIC Financial Asset Management Co'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.
China CITIC Financial Asset Management Co (FRA:CHE) has a Graham Number of €0.18 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on China CITIC Financial Asset Management Co and its competitors. According to the industry distribution chart, China CITIC Financial Asset Management Co ranks #156 out of 1170 companies in the Asset Management industry, placing it in the top 13.3%.
Is China CITIC Financial Asset Management Co's Graham Number too high?
China CITIC Financial Asset Management Co's current Graham Number is €0.18. Based on the distribution chart, China CITIC Financial Asset Management Co ranks #156 out of 1170 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, China CITIC Financial Asset Management Co has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does China CITIC Financial Asset Management Co's Graham Number compare to BLK and BX?
According to the Asset Management industry distribution chart, China CITIC Financial Asset Management Co ranks #156 out of 1170 companies for Graham Number. This places China CITIC Financial Asset Management Co in the top 13% of its industry — outperforming the majority of peers. The industry median Graham Number is 0.69. 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 Asset Management company?
The median Graham Number among Asset Management companies is 0.69, based on 1,170 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 China CITIC Financial Asset Management Co and its competitors. For the Asset Management industry, the median Graham Number is 0.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China CITIC Financial Asset Management Co's current Graham Number is €0.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China CITIC Financial Asset Management Co stock overvalued right now?
China CITIC Financial Asset Management Co (FRA:CHE) has a current Graham Number of €0.18. The current Graham Number is €0.18. China CITIC Financial Asset Management Co's overall GF Score™ is 34/100 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 China CITIC Financial Asset Management Co (FRA:CHE), the current Graham Number is €0.18 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.
China CITIC Financial Asset Management Co Ltd engages in distressed asset management, financial services, and asset management and investment businesses in the PRC. It has two operating segments: Distressed asset management segment: mainly includes acquisition-and-disposal business, relief and revitalization business, equity business, and assets acquisition-and-restructuring business of the Company, and distressed asset-related business conducted by its subsidiaries; the Asset management and investment segment, which mainly includes international business and other business. Geographically, operates in Mainland China and Hong Kong, maximum from Mainland China.
34GF Score
Get the complete analysis for FRA:CHE
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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