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Meridian HoldingsFRA:SE0 +3.07%74 Graham Number is €2.86 as of Jun. 2026, which is 100% below its 10-year median of 7.80. GuruFocus rates FRA:SE0 with a GF Score™ of 74/100 and a GF Value™ of €20.06. The stock has 8 warning signs investors should review. Among 497 Travel & Leisure companies, Meridian Holdings ranks worse than 89.74% 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 (2026-08-15), the stock price of Meridian Holdings is €11.42. Meridian Holdings's graham number for the quarter that ended in Jun. 2026 was €2.86. Therefore, Meridian Holdings's Price to Graham Number ratio for today is 3.99.
The historical rank and industry rank for Meridian Holdings's Graham Number or its related term are showing as below:
FRA:SE0'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.45 Med: 7.8 Max: 42.81
Current: 4.34
During the past 13 years, the highest Price to Graham Number ratio of Meridian Holdings was 42.81. The lowest was 1.45. And the median was 7.80.
FRA:SE0's Price-to-Graham-Number is ranked worse than 89.74% of 497
companies
in the Travel & Leisure industry
Industry Median: 1.23
vs FRA:SE0: 4.34
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Meridian Holdings (FRA:SE0) 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.
Meridian Holdings's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
11.42
/
2.86
=
3.99
* 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.
Meridian Holdings Graham Number Related Terms
Meridian Holdings Graham Number Historical Data
* Premium members only.
The historical data trend for Meridian 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:SE0 vs INSE, ROLR, GRSD: Graham Number Comparison
For the Gambling subindustry, Meridian 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.
Meridian Holdings Price-to-Graham-Number vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Meridian Holdings's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Meridian 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.
Meridian Holdings (FRA:SE0) has a Graham Number of €2.86 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Meridian Holdings and its competitors. This is 63% below median its historical median of 7.80. Over the past decade, Meridian Holdings' Graham Number has ranged from 1.45 to 42.81. According to the industry distribution chart, Meridian Holdings ranks #446 out of 497 companies in the Travel & Leisure industry, placing it in the top 89.7%.
Is Meridian Holdings' Graham Number too high?
Meridian Holdings' current Graham Number of €2.86 is 63% below median its 10-year median of 7.80. Over the past 10 years, this metric has ranged from a low of 1.45 to a high of 42.81. Based on the distribution chart, Meridian Holdings ranks #446 out of 497 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Meridian Holdings has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Meridian Holdings' Graham Number compare to INSE and ROLR?
According to the Travel & Leisure industry distribution chart, Meridian Holdings ranks #446 out of 497 companies for Graham Number. This places Meridian Holdings in the lower half of its industry. The industry median Graham Number is 1.23. Historically, Meridian Holdings' own Graham Number has ranged from 1.45 to 42.81 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 Travel & Leisure company?
The median Graham Number among Travel & Leisure companies is 1.23, based on 497 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 Meridian Holdings and its competitors. For the Travel & Leisure industry, the median Graham Number is 1.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Meridian Holdings's current Graham Number is €2.86, which is 63% below median its own 10-year median of 7.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Meridian Holdings stock overvalued right now?
Meridian Holdings (FRA:SE0) has a current Graham Number of €2.86. The stock's GF Value™ is €20.06, compared to a current price of €11.42 — trading 43.1% below its estimated fair value. The current Graham Number is €2.86, which is 63% below median its 10-year median of 7.80. Meridian Holdings' overall GF Score™ is 74/100 with 8 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 Meridian Holdings (FRA:SE0), the current Graham Number is €2.86 as of Jun. 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 Meridian Holdings (FRA:SE0) Overvalued in 2026?
Based on GuruFocus' analysis, Meridian Holdings stock appears to be undervalued.
The current stock price of €11.42 is trading 43.1% below its estimated GF Value™ of €20.06.
Key valuation signals for FRA:SE0:
Graham Number: €2.86 (63% below median its 10-year median of 7.80)
GF Value™: €20.06 vs. price of €11.42 (43.1% below fair value)
No single metric tells the full story. See the FRA:SE0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Meridian Holdings Inc is engaged in the online gaming and betting business, providing sports betting, online casino, and gaming operations across multiple jurisdictions in Europe, Africa, and Central and South America. The company has three reportable segments: MeridianBet Group, GMAG, and RKings & CFAC. The MeridianBet Group segment includes retail and online sports betting, casinos, and related gaming operations. The GMAG segment focuses on the resale of third-party gaming content, mainly serving customers in the Asia-Pacific region. The RKings & CFAC segment is involved in pay-to-enter prize competitions and trade promotions conducted in the United Kingdom and Australia. It generates the majority of its revenue from the MeridianBet Group segment.
74GF Score
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