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Aurizon HoldingsFRA:QRL -0.52%81 Graham Number is €1.73 as of Dec. 2025, which is 100% below its 10-year median of 1.15. GuruFocus rates FRA:QRL with a GF Score™ of 81/100 and a GF Value™ of €2.49 (Fairly Valued). The stock has 11 warning signs investors should review. Among 724 Transportation companies, Aurizon Holdings ranks worse than 66.16% 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 (2026-08-10), the stock price of Aurizon Holdings is €2.493. Aurizon Holdings's graham number for the quarter that ended in Dec. 2025 was €1.73. Therefore, Aurizon Holdings's Price to Graham Number ratio for today is 1.44.
The historical rank and industry rank for Aurizon Holdings's Graham Number or its related term are showing as below:
FRA:QRL'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.87 Med: 1.15 Max: 1.69
Current: 1.38
During the past 13 years, the highest Price to Graham Number ratio of Aurizon Holdings was 1.69. The lowest was 0.87. And the median was 1.15.
FRA:QRL's Price-to-Graham-Number is ranked worse than 66.16% of 724
companies
in the Transportation industry
Industry Median: 1.02
vs FRA:QRL: 1.38
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Aurizon Holdings (FRA:QRL) 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.
Aurizon Holdings's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
2.493
/
1.73
=
1.44
* 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.
Aurizon Holdings Graham Number Related Terms
Aurizon Holdings Graham Number Historical Data
* Premium members only.
The historical data trend for Aurizon Holdings'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:QRL vs UNP, CSX, NSC: Graham Number Comparison
For the Railroads subindustry, Aurizon Holdings'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.
Aurizon Holdings Price-to-Graham-Number vs Transportation Industry
For the Transportation industry and Industrials sector, Aurizon Holdings's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Aurizon Holdings'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.
Aurizon Holdings (FRA:QRL) has a Graham Number of €1.73 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Aurizon Holdings and its competitors. This is 50% above median its historical median of 1.15. Over the past decade, Aurizon Holdings' Graham Number has ranged from 0.87 to 1.69. According to the industry distribution chart, Aurizon Holdings ranks #479 out of 724 companies in the Transportation industry, placing it in the top 66.2%.
Is Aurizon Holdings' Graham Number too high?
Aurizon Holdings' current Graham Number of €1.73 is 50% above median its 10-year median of 1.15. Over the past 10 years, this metric has ranged from a low of 0.87 to a high of 1.69. Based on the distribution chart, Aurizon Holdings ranks #479 out of 724 companies in the Transportation industry, which is below the industry midpoint. Overall, Aurizon Holdings has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Aurizon Holdings' Graham Number compare to UNP and CSX?
According to the Transportation industry distribution chart, Aurizon Holdings ranks #479 out of 724 companies for Graham Number. This places Aurizon Holdings in the lower half of its industry. The industry median Graham Number is 1.02. Historically, Aurizon Holdings' own Graham Number has ranged from 0.87 to 1.69 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 1.02, based on 724 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 Aurizon Holdings and its competitors. For the Transportation industry, the median Graham Number is 1.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aurizon Holdings's current Graham Number is €1.73, which is 50% above median its own 10-year median of 1.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aurizon Holdings stock overvalued right now?
Based on GuruFocus' analysis, Aurizon Holdings (FRA:QRL) is currently considered Fairly Valued. The stock's GF Value™ is €2.49, compared to a current price of €2.49 — trading 0.1% above its estimated fair value. The current Graham Number is €1.73, which is 50% above median its 10-year median of 1.15. Aurizon Holdings' overall GF Score™ is 81/100 with 11 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 Aurizon Holdings (FRA:QRL), the current Graham Number is €1.73 as of Dec. 2025. 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 Aurizon Holdings (FRA:QRL) Overvalued in 2026?
Based on GuruFocus' analysis, Aurizon Holdings stock appears to be overvalued.
The current stock price of €2.49 is trading 0.1% above its estimated GF Value™ of €2.49.
GuruFocus considers Aurizon Holdings to be Fairly Valued.
Key valuation signals for FRA:QRL:
Graham Number: €1.73 (50% above median its 10-year median of 1.15)
GF Value™: €2.49 vs. price of €2.49 (0.1% above fair value)
No single metric tells the full story. See the FRA:QRL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aurizon operates rail haulage of coal, iron ore, and freight, and owns a regulated rail network in Queensland. Coal haulage from mine to port contributes a third of operating income. The noncoal bulk segment contributes less than 15% of earnings and undertakes the rail haulage of agricultural, mining, and industrial products. The rail network, composed of 2,670 kilometers of coal rail network under a 99-year lease from the Queensland government, contributes half of earnings.
81GF Score
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