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Daio PaperFRA:DPR +2.90%69 Graham Number is €6.65 as of Mar. 2026, which is 100% below its 10-year median of 1.10. GuruFocus rates FRA:DPR with a GF Score™ of 69/100 and a GF Value™ of €4.98 (Fairly Valued). The stock has 5 warning signs investors should review. Among 172 Forest Products companies, Daio Paper ranks better than 58.14% 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 (2026-07-15), the stock price of Daio Paper is €4.96. Daio Paper's graham number for the quarter that ended in Mar. 2026 was €6.65. Therefore, Daio Paper's Price to Graham Number ratio for today is 0.75.
The historical rank and industry rank for Daio Paper's Graham Number or its related term are showing as below:
FRA:DPR'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.76 Med: 1.1 Max: 1.98
Current: 0.79
During the past 13 years, the highest Price to Graham Number ratio of Daio Paper was 1.98. The lowest was 0.76. And the median was 1.10.
FRA:DPR's Price-to-Graham-Number is ranked better than 58.14% of 172
companies
in the Forest Products industry
Industry Median: 0.89
vs FRA:DPR: 0.79
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Daio Paper (FRA:DPR) 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.
Daio Paper's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
4.96
/
6.65
=
0.75
* 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.
Daio Paper Graham Number Related Terms
Daio Paper Graham Number Historical Data
* Premium members only.
The historical data trend for Daio Paper'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.
For the Paper & Paper Products subindustry, Daio Paper'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.
Daio Paper Price-to-Graham-Number vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Daio Paper's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Daio Paper'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.
Daio Paper (FRA:DPR) has a Graham Number of €6.65 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Daio Paper and its competitors. This is 505% above median its historical median of 1.10. Over the past decade, Daio Paper's Graham Number has ranged from 0.76 to 1.98. According to the industry distribution chart, Daio Paper ranks #72 out of 172 companies in the Forest Products industry, placing it in the top 41.9%.
Is Daio Paper's Graham Number too high?
Daio Paper's current Graham Number of €6.65 is 505% above median its 10-year median of 1.10. Over the past 10 years, this metric has ranged from a low of 0.76 to a high of 1.98. Based on the distribution chart, Daio Paper ranks #72 out of 172 companies in the Forest Products industry, which is above the industry midpoint. Overall, Daio Paper has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Daio Paper's Graham Number compare to competitors?
According to the Forest Products industry distribution chart, Daio Paper ranks #72 out of 172 companies for Graham Number. This puts Daio Paper in the upper half of its industry. The industry median Graham Number is 0.89. Historically, Daio Paper's own Graham Number has ranged from 0.76 to 1.98 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 Daio Paper 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. Daio Paper's current Graham Number is €6.65, which is 505% above median its own 10-year median of 1.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Daio Paper stock overvalued right now?
Based on GuruFocus' analysis, Daio Paper (FRA:DPR) is currently considered Fairly Valued. The stock's GF Value™ is €4.98, compared to a current price of €4.96 — trading 0.4% below its estimated fair value. The current Graham Number is €6.65, which is 505% above median its 10-year median of 1.10. Daio Paper's overall GF Score™ is 69/100 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 Daio Paper (FRA:DPR), the current Graham Number is €6.65 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 Daio Paper (FRA:DPR) Overvalued in 2026?
Based on GuruFocus' analysis, Daio Paper stock appears to be undervalued.
The current stock price of €4.96 is trading 0.4% below its estimated GF Value™ of €4.98.
GuruFocus considers Daio Paper to be Fairly Valued.
Key valuation signals for FRA:DPR:
Graham Number: €6.65 (505% above median its 10-year median of 1.10)
GF Value™: €4.98 vs. price of €4.96 (0.4% below fair value)
No single metric tells the full story. See the FRA:DPR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Daio Paper Corp is a Japan-based paper, pulp and paperboard manufacturer. It produces general printing paper for magazines and catalogs, newsprint, office paper, corrugated materials, kraft liner, facial and toilet tissue, paper towels etc. The company's main products Newsprint, coated paper, wood free paper, publication paper, PPC paper, carbonless paper, adhesive printing paper, functional materials, wrapping paper, household paper products like facial tissue, toilet tissue, paper towels, sanitary napkins, disposable diapers, among others, kraft linerboard (containerboard), and various types of pulp.
69GF Score
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