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.
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:GSZ's Price-to-Graham-Number is ranked better than 78.34% of 217
companies
in the Aerospace & Defense industry
Industry Median: 3.06
vs FRA:GSZ: 1.53
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
CSSC Offshore & Marine Engineering (Group) Co (FRA:GSZ) 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.
CSSC Offshore & Marine Engineering (Group) Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
1.45
/
2.04
=
0.71
* 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.
CSSC Offshore & Marine Engineering (Group) Co Graham Number Related Terms
CSSC Offshore & Marine Engineering (Group) 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.
CSSC Offshore & Marine Engineering (Group) Co Graham Number Chart
CSSC Offshore & Marine Engineering (Group) Co Annual Data
FRA:GSZ vs SPCX, GE, RTX: Graham Number Comparison
For the Aerospace & Defense subindustry, CSSC Offshore & Marine Engineering (Group) 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.
CSSC Offshore & Marine Engineering (Group) Co Price-to-Graham-Number vs Aerospace & Defense 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.
CSSC Offshore & Marine Engineering (Group) Co (FRA:GSZ) has a Graham Number of €2.04 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on CSSC Offshore & Marine Engineering (Group) Co and its competitors. This is 26% below median its historical median of 2.76. Over the past decade, CSSC Offshore & Marine Engineering (Group) Co's Graham Number has ranged from 0.56 to 9.19. According to the industry distribution chart, CSSC Offshore & Marine Engineering (Group) Co ranks #47 out of 217 companies in the Aerospace & Defense industry, placing it in the top 21.7%.
Is CSSC Offshore & Marine Engineering (Group) Co's Graham Number too high?
CSSC Offshore & Marine Engineering (Group) Co's current Graham Number of €2.04 is 26% below median its 10-year median of 2.76. Over the past 10 years, this metric has ranged from a low of 0.56 to a high of 9.19. Based on the distribution chart, CSSC Offshore & Marine Engineering (Group) Co ranks #47 out of 217 companies in the Aerospace & Defense industry, which is in the top quartile — a strong position relative to peers. Overall, CSSC Offshore & Marine Engineering (Group) Co has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does CSSC Offshore & Marine Engineering (Group) Co's Graham Number compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, CSSC Offshore & Marine Engineering (Group) Co ranks #47 out of 217 companies for Graham Number. This places CSSC Offshore & Marine Engineering (Group) Co in the top 22% of its industry — outperforming the majority of peers. The industry median Graham Number is 3.06. Historically, CSSC Offshore & Marine Engineering (Group) Co's own Graham Number has ranged from 0.56 to 9.19 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 an Aerospace & Defense company?
The median Graham Number among Aerospace & Defense companies is 3.06, based on 217 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 CSSC Offshore & Marine Engineering (Group) Co and its competitors. For the Aerospace & Defense industry, the median Graham Number is 3.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CSSC Offshore & Marine Engineering (Group) Co's current Graham Number is €2.04, which is 26% below median its own 10-year median of 2.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CSSC Offshore & Marine Engineering (Group) Co stock overvalued right now?
CSSC Offshore & Marine Engineering (Group) Co (FRA:GSZ) has a current Graham Number of €2.04. The stock's GF Value™ is €1.99, compared to a current price of €1.45 — trading 27.1% below its estimated fair value. The current Graham Number is €2.04, which is 26% below median its 10-year median of 2.76. CSSC Offshore & Marine Engineering (Group) Co's overall GF Score™ is 69/100 with 3 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 CSSC Offshore & Marine Engineering (Group) Co (FRA:GSZ), the current Graham Number is €2.04 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 CSSC Offshore & Marine Engineering (Group) Co (FRA:GSZ) Overvalued in 2026?
Based on GuruFocus' analysis, CSSC Offshore & Marine Engineering (Group) Co stock appears to be undervalued.
The current stock price of €1.45 is trading 27.1% below its estimated GF Value™ of €1.99.
Key valuation signals for FRA:GSZ:
Graham Number: €2.04 (26% below median its 10-year median of 2.76)
GF Value™: €1.99 vs. price of €1.45 (27.1% below fair value)
No single metric tells the full story. See the FRA:GSZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CSSC Offshore & Marine Engineering (Group) Co Business Description
CSSC Offshore & Marine Engineering (Group) Co Ltd manufactures military and civil ships and conducts off-shore engineering. The functions of the boats have a wide range, including military, patrol, rescue, and transportation. Multiple subsidiaries allow the company to produce multiple ships and supply customized maintenance for clients. The company operates through the following business segments: Shipbuilding and related business which generates key revenue, Steel Structure engineering, Ship maintenance, and others.
69GF Score
Get the complete analysis for FRA:GSZ
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:GSZ has been successfully added to your 
