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TLG Immobilien AGHAM:TLG +2.61%65 Graham Number is €16.48 as of Dec. 2024, which is 100% below its 10-year median of 0.65. GuruFocus rates HAM:TLG with a GF Score™ of 65/100 and a GF Value™ of €10.06 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 1,167 Real Estate companies, TLG Immobilien AG ranks better than 52.19% 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 (2026-07-29), the stock price of TLG Immobilien AG is €11.80. TLG Immobilien AG's graham number for the quarter that ended in Dec. 2024 was €16.48. Therefore, TLG Immobilien AG's Price to Graham Number ratio for today is 0.72.
The historical rank and industry rank for TLG Immobilien AG's Graham Number or its related term are showing as below:
HAM:TLG'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.4 Med: 0.65 Max: 1.62
Current: 0.72
During the past 12 years, the highest Price to Graham Number ratio of TLG Immobilien AG was 1.62. The lowest was 0.40. And the median was 0.65.
HAM:TLG's Price-to-Graham-Number is ranked better than 52.19% of 1167
companies
in the Real Estate industry
Industry Median: 0.74
vs HAM:TLG: 0.72
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
TLG Immobilien AG (HAM:TLG) 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.
TLG Immobilien AG's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2024 )
=
11.80
/
16.48
=
0.72
* 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.
TLG Immobilien AG Graham Number Related Terms
TLG Immobilien AG Graham Number Historical Data
* Premium members only.
The historical data trend for TLG Immobilien AG'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.
HAM:TLG vs CBRE, BEKE, JLL: Graham Number Comparison
For the Real Estate Services subindustry, TLG Immobilien AG'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.
TLG Immobilien AG Price-to-Graham-Number vs Real Estate Industry
For the Real Estate industry and Real Estate sector, TLG Immobilien AG's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where TLG Immobilien AG'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.
TLG Immobilien AG (HAM:TLG) has a Graham Number of €16.48 as of Dec. 2024. The Graham Number values a company based on its per-share earnings and book value. View historical data on TLG Immobilien AG and its competitors. This is 2435% above median its historical median of 0.65. Over the past decade, TLG Immobilien AG's Graham Number has ranged from 0.40 to 1.62. According to the industry distribution chart, TLG Immobilien AG ranks #558 out of 1167 companies in the Real Estate industry, placing it in the top 47.8%.
Is TLG Immobilien AG's Graham Number too high?
TLG Immobilien AG's current Graham Number of €16.48 is 2435% above median its 10-year median of 0.65. Over the past 10 years, this metric has ranged from a low of 0.40 to a high of 1.62. Based on the distribution chart, TLG Immobilien AG ranks #558 out of 1167 companies in the Real Estate industry, which is above the industry midpoint. Overall, TLG Immobilien AG has a GF Score™ of 65/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TLG Immobilien AG's Graham Number compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, TLG Immobilien AG ranks #558 out of 1167 companies for Graham Number. This puts TLG Immobilien AG in the upper half of its industry. The industry median Graham Number is 0.74. Historically, TLG Immobilien AG's own Graham Number has ranged from 0.40 to 1.62 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 Real Estate company?
The median Graham Number among Real Estate companies is 0.74, based on 1,167 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 TLG Immobilien AG and its competitors. For the Real Estate industry, the median Graham Number is 0.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TLG Immobilien AG's current Graham Number is €16.48, which is 2435% above median its own 10-year median of 0.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TLG Immobilien AG stock overvalued right now?
Based on GuruFocus' analysis, TLG Immobilien AG (HAM:TLG) is currently considered Modestly Overvalued. The stock's GF Value™ is €10.06, compared to a current price of €11.80 — trading 17.3% above its estimated fair value. The current Graham Number is €16.48, which is 2435% above median its 10-year median of 0.65. TLG Immobilien AG's overall GF Score™ is 65/100 with 7 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 TLG Immobilien AG (HAM:TLG), the current Graham Number is €16.48 as of Dec. 2024. 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 TLG Immobilien AG (HAM:TLG) Overvalued in 2026?
Based on GuruFocus' analysis, TLG Immobilien AG stock appears to be overvalued.
The current stock price of €11.80 is trading 17.3% above its estimated GF Value™ of €10.06.
GuruFocus considers TLG Immobilien AG to be Modestly Overvalued.
Key valuation signals for HAM:TLG:
Graham Number: €16.48 (2435% above median its 10-year median of 0.65)
GF Value™: €10.06 vs. price of €11.80 (17.3% above fair value)
No single metric tells the full story. See the HAM:TLG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TLG Immobilien AG is a commercial real estate company that focuses on the Berlin and eastern Germany regions of the Baltic coast and the Middle Germany core region. The company manages a portfolio of commercial properties mainly for office and retail uses. In addition, TLG Immobilien owns and operates several hotel properties that are located in Berlin, Dresden, Leipzig, and Rostock. The company provides property management, letting, sales, and purchases services. The majority of the group's revenue comes from rental and letting activities.
65GF Score
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