Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Flowers FoodsFRA:FWF -4.50%51 Graham Number is €N/A as of Mar. 2026. GuruFocus rates FRA:FWF with a GF Score™ of 51/100 and a GF Value™ of €19.14 (Significantly Undervalued). The stock has 6 warning signs investors should review. Among 1,385 Consumer Packaged Goods companies, Flowers Foods ranks worse than 72202.09% 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 (2026-08-01), the stock price of Flowers Foods is €6.16. Flowers Foods's graham number for the quarter that ended in Mar. 2026 was €N/A. Therefore, Flowers Foods's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for Flowers Foods's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of Flowers Foods was 21.04. The lowest was 4.65. And the median was 6.51.
FRA:FWF's Price-to-Graham-Number is not ranked *
in the Consumer Packaged Goods industry.
Industry Median: 1.1 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
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.
Flowers Foods's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
6.16
/
N/A
=
N/A
* 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.
Flowers Foods Graham Number Related Terms
Flowers Foods Graham Number Historical Data
* Premium members only.
The historical data trend for Flowers Foods'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.
FRA:FWF vs NOMD, BRBR, JJSF: Graham Number Comparison
For the Packaged Foods subindustry, Flowers Foods'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.
Flowers Foods Price-to-Graham-Number vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Flowers Foods's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Flowers Foods'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.
Flowers Foods (FRA:FWF) has a Graham Number of €N/A as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Flowers Foods and its competitors. Over the past decade, Flowers Foods' Graham Number has ranged from 4.65 to 21.04. According to the industry distribution chart, Flowers Foods ranks #999999 out of 1385 companies in the Consumer Packaged Goods industry.
Is Flowers Foods' Graham Number too high?
Flowers Foods' current Graham Number is €N/A. Over the past 10 years, this metric has ranged from a low of 4.65 to a high of 21.04. Based on the distribution chart, Flowers Foods ranks #999999 out of 1385 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Flowers Foods has a GF Score™ of 51/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Flowers Foods' Graham Number compare to NOMD and BRBR?
According to the Consumer Packaged Goods industry distribution chart, Flowers Foods ranks #999999 out of 1385 companies for Graham Number. This places Flowers Foods in the lower half of its industry. The industry median Graham Number is 1.10. Historically, Flowers Foods' own Graham Number has ranged from 4.65 to 21.04 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 Consumer Packaged Goods company?
The median Graham Number among Consumer Packaged Goods companies is 1.10, based on 1,385 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 Flowers Foods and its competitors. For the Consumer Packaged Goods industry, the median Graham Number is 1.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Flowers Foods's current Graham Number is €N/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Flowers Foods stock overvalued right now?
Based on GuruFocus' analysis, Flowers Foods (FRA:FWF) is currently considered Significantly Undervalued. The stock's GF Value™ is €19.14, compared to a current price of €6.16 — trading 67.8% below its estimated fair value. The current Graham Number is €N/A. Flowers Foods' overall GF Score™ is 51/100 with 6 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 Flowers Foods (FRA:FWF), the current Graham Number is €N/A 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 Flowers Foods (FRA:FWF) Overvalued in 2026?
Based on GuruFocus' analysis, Flowers Foods stock appears to be undervalued.
The current stock price of €6.16 is trading 67.8% below its estimated GF Value™ of €19.14.
GuruFocus considers Flowers Foods to be Significantly Undervalued.
Key valuation signals for FRA:FWF:
Graham Number: €N/A
GF Value™: €19.14 vs. price of €6.16 (67.8% below fair value)
No single metric tells the full story. See the FRA:FWF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Flowers Foods Inc operates as a producer and marketer of packaged bakery foods in the United States. Its principal products include breads, buns, rolls, snack items (bars, cakes, cookies, and crackers), bagels, English muffins, tortillas, and baking mixes. These products are sold under the brand names Nature's Own, Dave's Killer Bread (DKB), Canyon Bakehouse, Simple Mills, Wonder, and Tastykake. The company derives the majority of its revenue from the sales of its bakery products.
51GF Score
Get the complete analysis for FRA:FWF
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:FWF has been successfully added to your 
