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.
The historical rank and industry rank for Art's-Way Manufacturing Co's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of Art's-Way Manufacturing Co was 4.10. The lowest was 0.41. And the median was 0.76.
FRA:ID2's Price-to-Graham-Number is not ranked *
in the Farm & Heavy Construction Machinery industry.
Industry Median: 1.17 * 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.
Art's-Way Manufacturing Co (FRA:ID2) 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.
Art's-Way Manufacturing Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: May. 2026 )
=
2.56
/
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.
Art's-Way Manufacturing Co Graham Number Related Terms
Art's-Way Manufacturing 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.
FRA:ID2 vs GP, CLEV, HCAI: Graham Number Comparison
For the Farm & Heavy Construction Machinery subindustry, Art's-Way Manufacturing 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.
Art's-Way Manufacturing Co Price-to-Graham-Number vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Art's-Way Manufacturing Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Art's-Way Manufacturing 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.
Art's-Way Manufacturing Co (FRA:ID2) has a Graham Number of €N/A as of May. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Art's-Way Manufacturing Co and its competitors. Over the past decade, Art's-Way Manufacturing Co's Graham Number has ranged from 0.41 to 4.10. According to the industry distribution chart, Art's-Way Manufacturing Co ranks #999999 out of 163 companies in the Farm & Heavy Construction Machinery industry.
Is Art's-Way Manufacturing Co's Graham Number too high?
Art's-Way Manufacturing Co's current Graham Number is €N/A. Over the past 10 years, this metric has ranged from a low of 0.41 to a high of 4.10. Based on the distribution chart, Art's-Way Manufacturing Co ranks #999999 out of 163 companies in the Farm & Heavy Construction Machinery industry, which is in the bottom quartile relative to peers. Overall, Art's-Way Manufacturing Co has a GF Score™ of 55/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Art's-Way Manufacturing Co's Graham Number compare to GP and CLEV?
According to the Farm & Heavy Construction Machinery industry distribution chart, Art's-Way Manufacturing Co ranks #999999 out of 163 companies for Graham Number. This places Art's-Way Manufacturing Co in the lower half of its industry. The industry median Graham Number is 1.17. Historically, Art's-Way Manufacturing Co's own Graham Number has ranged from 0.41 to 4.10 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 Farm & Heavy Construction Machinery company?
The median Graham Number among Farm & Heavy Construction Machinery companies is 1.17, based on 163 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 Art's-Way Manufacturing Co and its competitors. For the Farm & Heavy Construction Machinery industry, the median Graham Number is 1.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Art's-Way Manufacturing Co'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 Art's-Way Manufacturing Co stock overvalued right now?
Based on GuruFocus' analysis, Art's-Way Manufacturing Co (FRA:ID2) is currently considered Significantly Overvalued. The stock's GF Value™ is €1.57, compared to a current price of €2.56 — trading 63.1% above its estimated fair value. The current Graham Number is €N/A. Art's-Way Manufacturing Co's overall GF Score™ is 55/100 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 Art's-Way Manufacturing Co (FRA:ID2), the current Graham Number is €N/A as of May. 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 Art's-Way Manufacturing Co (FRA:ID2) Overvalued in 2026?
Based on GuruFocus' analysis, Art's-Way Manufacturing Co stock appears to be overvalued.
The current stock price of €2.56 is trading 63.1% above its estimated GF Value™ of €1.57.
GuruFocus considers Art's-Way Manufacturing Co to be Significantly Overvalued.
Key valuation signals for FRA:ID2:
Graham Number: €N/A
GF Value™: €1.57 vs. price of €2.56 (63.1% above fair value)
No single metric tells the full story. See the FRA:ID2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Art's-Way Manufacturing Co Inc is a manufacturer of agricultural equipment. It has two reportable segments: Agricultural Products and Modular Buildings. The Agricultural Products segment fabricates and sells farming products as well as related equipment and replacement parts for these products in the United States and world wide. Its Modular Buildings segment manufactures and installs modular buildings for animal containment and various laboratory uses. It derives revenues from the Agricultural Products segment.
55GF Score
Get the complete analysis for FRA:ID2
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:ID2 has been successfully added to your 
