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B Treasury Capital ABFRA:X4L +0.23%19 Graham Number is €N/A as of Jun. 2026. GuruFocus rates FRA:X4L with a GF Score™ of 19/100. Among 525 Capital Markets companies, B Treasury Capital AB ranks worse than 190476% 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.
The historical rank and industry rank for B Treasury Capital AB's Graham Number or its related term are showing as below:
FRA:X4L's Price-to-Graham-Number is not ranked *
in the Capital Markets industry.
Industry Median: 1.12 * 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.
B Treasury Capital AB (FRA:X4L) 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.
B Treasury Capital AB's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
8.62
/
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.
B Treasury Capital AB Graham Number Related Terms
B Treasury Capital AB Graham Number Historical Data
* Premium members only.
The historical data trend for B Treasury Capital AB'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.
B Treasury Capital AB Graham Number Chart
B Treasury Capital AB Annual Data
Trend
Dec25
Graham Number
0.00
B Treasury Capital AB Quarterly Data
Mar25
Sep25
Dec25
Mar26
Jun26
Graham Number
0.00
0.00
0.00
0.00
0.00
FRA:X4L vs MS, GS, SCHW: Graham Number Comparison
For the Capital Markets subindustry, B Treasury Capital AB'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.
B Treasury Capital AB Price-to-Graham-Number vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, B Treasury Capital AB's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where B Treasury Capital AB'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.
B Treasury Capital AB (FRA:X4L) has a Graham Number of €N/A as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on B Treasury Capital AB and its competitors. According to the industry distribution chart, B Treasury Capital AB ranks #999999 out of 525 companies in the Capital Markets industry.
Is B Treasury Capital AB's Graham Number too high?
B Treasury Capital AB's current Graham Number is €N/A. Based on the distribution chart, B Treasury Capital AB ranks #999999 out of 525 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, B Treasury Capital AB has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does B Treasury Capital AB's Graham Number compare to MS and GS?
According to the Capital Markets industry distribution chart, B Treasury Capital AB ranks #999999 out of 525 companies for Graham Number. This places B Treasury Capital AB in the lower half of its industry. The industry median Graham Number is 1.12. 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 Capital Markets company?
The median Graham Number among Capital Markets companies is 1.12, based on 525 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 B Treasury Capital AB and its competitors. For the Capital Markets industry, the median Graham Number is 1.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. B Treasury Capital AB'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 B Treasury Capital AB stock overvalued right now?
B Treasury Capital AB (FRA:X4L) has a current Graham Number of €N/A. The current Graham Number is €N/A. B Treasury Capital AB's overall GF Score™ is 19/100. 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 B Treasury Capital AB (FRA:X4L), the current Graham Number is €N/A 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.
B Treasury Capital AB is a Sweden-based company that operates in the financial markets. The company specializes in cryptocurrency trading, and focuses on acquiring, securing and maintaining Bitcoin as part of a long-term capital approach. The company aims to gradually increase Bitcoin reserves in relation to outstanding shares, while minimizing risk, leverage or dilution.
19GF Score
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