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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.
Covenant Logistics Group (FRA:CV5) 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.
Covenant Logistics Group's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
36.20
/
14.15
=
2.56
* 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.
Covenant Logistics Group Graham Number Related Terms
Covenant Logistics Group 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:CV5 vs HTLD, MRTN, ULH: Graham Number Comparison
For the Trucking subindustry, Covenant Logistics Group'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.
Covenant Logistics Group Price-to-Graham-Number vs Transportation Industry
For the Transportation industry and Industrials sector, Covenant Logistics Group's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Covenant Logistics Group'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.
Covenant Logistics Group (FRA:CV5) has a Graham Number of €14.78 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Covenant Logistics Group and its competitors. This is 1393% above median its historical median of 0.99. Over the past decade, Covenant Logistics Group's Graham Number has ranged from 0.53 to 2.15. According to the industry distribution chart, Covenant Logistics Group ranks #610 out of 741 companies in the Transportation industry, placing it in the top 82.3%.
Is Covenant Logistics Group's Graham Number too high?
Covenant Logistics Group's current Graham Number of €14.78 is 1393% above median its 10-year median of 0.99. Over the past 10 years, this metric has ranged from a low of 0.53 to a high of 2.15. Based on the distribution chart, Covenant Logistics Group ranks #610 out of 741 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Covenant Logistics Group has a GF Score™ of 72/100, reflecting its overall financial health beyond just this single metric.
How does Covenant Logistics Group's Graham Number compare to HTLD and MRTN?
According to the Transportation industry distribution chart, Covenant Logistics Group ranks #610 out of 741 companies for Graham Number. This places Covenant Logistics Group in the lower half of its industry. The industry median Graham Number is 1.03. Historically, Covenant Logistics Group's own Graham Number has ranged from 0.53 to 2.15 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 1.03, based on 741 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 Covenant Logistics Group and its competitors. For the Transportation industry, the median Graham Number is 1.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Covenant Logistics Group's current Graham Number is €14.78, which is 1393% above median its own 10-year median of 0.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Covenant Logistics Group stock overvalued right now?
Covenant Logistics Group (FRA:CV5) has a current Graham Number of €14.78. The stock's GF Value™ is €26.85, compared to a current price of €36.20 — trading 34.8% above its estimated fair value. The current Graham Number is €14.78, which is 1393% above median its 10-year median of 0.99. Covenant Logistics Group's overall GF Score™ is 72/100 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 Covenant Logistics Group (FRA:CV5), the current Graham Number is €14.78 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 Covenant Logistics Group (FRA:CV5) Overvalued in 2026?
Based on GuruFocus' analysis, Covenant Logistics Group stock appears to be overvalued.
The current stock price of €36.20 is trading 34.8% above its estimated GF Value™ of €26.85.
Key valuation signals for FRA:CV5:
Graham Number: €14.78 (1393% above median its 10-year median of 0.99)
GF Value™: €26.85 vs. price of €36.20 (34.8% above fair value)
No single metric tells the full story. See the FRA:CV5 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Covenant Logistics Group Inc together with its wholly-owned subsidiaries, offers truckload transportation and freight brokerage services to customers throughout the continental United States. The company's reportable segments include Expedited, Dedicated Services, Managed Freight, and Warehousing. The expedited segment provides truckload services to customers with high service freight and delivery standards. Dedicated segment provides customers with committed truckload capacity over contracted periods with the goal of three to five years in length. The Managed Freight segment includes brokerage services and TMS. The warehousing segment provides day-to-day warehouse management services to customers who have chosen to outsource this function.
72GF Score
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