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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 Halozyme Therapeutics's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of Halozyme Therapeutics was 18.64. The lowest was 3.55. And the median was 5.68.
HALO's Price-to-Graham-Number is not ranked *
in the Biotechnology industry.
Industry Median: 1.73 * 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.
Halozyme Therapeutics (NAS:HALO) 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.
Halozyme Therapeutics's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
82.54
/
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.
Halozyme Therapeutics Graham Number Related Terms
Halozyme Therapeutics Graham Number Historical Data
* Premium members only.
The historical data trend for Halozyme Therapeutics'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.
HALO vs NUVL, KRYS, IONS: Graham Number Comparison
For the Biotechnology subindustry, Halozyme Therapeutics'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.
Halozyme Therapeutics Price-to-Graham-Number vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Halozyme Therapeutics's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Halozyme Therapeutics'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.
Halozyme Therapeutics (HALO) has a Graham Number of $N/A as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Halozyme Therapeutics and its competitors. Over the past decade, Halozyme Therapeutics' Graham Number has ranged from 3.55 to 18.64. According to the industry distribution chart, Halozyme Therapeutics ranks #999999 out of 251 companies in the Biotechnology industry.
Is Halozyme Therapeutics' Graham Number too high?
Halozyme Therapeutics' current Graham Number is $N/A. Over the past 10 years, this metric has ranged from a low of 3.55 to a high of 18.64. Based on the distribution chart, Halozyme Therapeutics ranks #999999 out of 251 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Halozyme Therapeutics has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Halozyme Therapeutics' Graham Number compare to NUVL and KRYS?
According to the Biotechnology industry distribution chart, Halozyme Therapeutics ranks #999999 out of 251 companies for Graham Number. This places Halozyme Therapeutics in the lower half of its industry. The industry median Graham Number is 1.73. Historically, Halozyme Therapeutics' own Graham Number has ranged from 3.55 to 18.64 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 Biotechnology company?
The median Graham Number among Biotechnology companies is 1.73, based on 251 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 Halozyme Therapeutics and its competitors. For the Biotechnology industry, the median Graham Number is 1.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Halozyme Therapeutics'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 Halozyme Therapeutics stock overvalued right now?
Based on GuruFocus' analysis, Halozyme Therapeutics (HALO) is currently considered Modestly Undervalued. The stock's GF Value™ is $92.33, compared to a current price of $82.54 — trading 10.6% below its estimated fair value. The current Graham Number is $N/A. Halozyme Therapeutics' overall GF Score™ is 93/100 with 4 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 Halozyme Therapeutics (HALO), the current Graham Number is $N/A 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 Halozyme Therapeutics (HALO) Overvalued in 2026?
Based on GuruFocus' analysis, Halozyme Therapeutics stock appears to be undervalued.
The current stock price of $82.54 is trading 10.6% below its estimated GF Value™ of $92.33.
GuruFocus considers Halozyme Therapeutics to be Modestly Undervalued.
Key valuation signals for HALO:
Graham Number: $N/A
GF Value™: $92.33 vs. price of $82.54 (10.6% below fair value)
No single metric tells the full story. See the HALO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Halozyme Therapeutics Inc is a biotechnology company focused on developing and commercializing novel oncology therapies. The company seeks to create therapies focused on human enzymes that alter tumors. Halozyme focuses on developing its proprietary products in therapeutic areas with a focus on oncology, and licensing its technology to biopharmaceutical companies to collaboratively develop products. ENHANZE drug delivery technology was introduced with the proprietary enzyme rHuPH20, to facilitate the subcutaneous delivery of injected drugs and fluids, with the goal of improving the patient experience with rapid SC delivery and reduced treatment burden. The company's operations are based in the United States, with minimal long-lived assets located internationally.
93GF Score
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