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Hindalco IndustriesHNDNF 85 Graham Number is $10.10 as of Mar. 2026, which is 1035% above its 10-year median of 0.89. GuruFocus rates HNDNF with a GF Score™ of 85/100 and a GF Value™ of $2.60. The stock has 3 warning signs investors should review. Among 615 Metals & Mining companies, Hindalco Industries ranks better than 58.7% 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 (2026-08-01), the stock price of Hindalco Industries is $2.95. Hindalco Industries's graham number for the quarter that ended in Mar. 2026 was $10.10. Therefore, Hindalco Industries's Price to Graham Number ratio for today is 0.29.
The historical rank and industry rank for Hindalco Industries's Graham Number or its related term are showing as below:
HNDNF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.37 Med: 0.89 Max: 1.13
Current: 1.02
During the past 13 years, the highest Price to Graham Number ratio of Hindalco Industries was 1.13. The lowest was 0.37. And the median was 0.89.
HNDNF's Price-to-Graham-Number is ranked better than 58.7% of 615
companies
in the Metals & Mining industry
Industry Median: 1.25
vs HNDNF: 1.02
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Hindalco Industries (OTCPK:HNDNF) 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.
Hindalco Industries's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
2.95
/
10.10
=
0.29
* 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.
Hindalco Industries Graham Number Related Terms
Hindalco Industries Graham Number Historical Data
* Premium members only.
The historical data trend for Hindalco Industries'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.
For the Aluminum subindustry, Hindalco Industries'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.
Hindalco Industries Price-to-Graham-Number vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Hindalco Industries's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Hindalco Industries'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.
Hindalco Industries (HNDNF) has a Graham Number of $10.10 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Hindalco Industries and its competitors. This is 1035% above median its historical median of 0.89. Over the past decade, Hindalco Industries' Graham Number has ranged from 0.37 to 1.13. According to the industry distribution chart, Hindalco Industries ranks #254 out of 615 companies in the Metals & Mining industry, placing it in the top 41.3%.
Is Hindalco Industries' Graham Number too high?
Hindalco Industries' current Graham Number of $10.10 is 1035% above median its 10-year median of 0.89. Over the past 10 years, this metric has ranged from a low of 0.37 to a high of 1.13. The Metals & Mining industry median Graham Number is 1.25. Hindalco Industries' value of $10.10 is 708% above this industry median. Based on the distribution chart, Hindalco Industries ranks #254 out of 615 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Hindalco Industries has a GF Score™ of 85/100, reflecting its overall financial health beyond just this single metric.
How does Hindalco Industries' Graham Number compare to AA?
According to the Metals & Mining industry distribution chart, Hindalco Industries ranks #254 out of 615 companies for Graham Number. This puts Hindalco Industries in the upper half of its industry. The industry median Graham Number is 1.25. Hindalco Industries' value of $10.10 is 708% above this benchmark. Historically, Hindalco Industries' own Graham Number has ranged from 0.37 to 1.13 over the past decade. While the company's 10-year median is 0.89 vs. the industry median of 1.25, Hindalco Industries has consistently been above the industry average. 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 Metals & Mining company?
The median Graham Number among Metals & Mining companies is 1.25, based on 615 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. Hindalco Industries's current Graham Number of $10.10 is 708% above the industry median. 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 Hindalco Industries and its competitors. For the Metals & Mining industry, the median Graham Number is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hindalco Industries's current Graham Number is $10.10, which is 1035% above median its own 10-year median of 0.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hindalco Industries stock overvalued right now?
Hindalco Industries (HNDNF) has a current Graham Number of $10.10. The stock's GF Value™ is $2.60, compared to a current price of $2.95 — trading 13.5% above its estimated fair value. The current Graham Number is $10.10, which is 1035% above median its 10-year median of 0.89 and 708% above the Metals & Mining industry median of 1.25. Hindalco Industries' overall GF Score™ is 85/100 with 3 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 Hindalco Industries (HNDNF), the current Graham Number is $10.10 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 Hindalco Industries (HNDNF) Overvalued in 2026?
Based on GuruFocus' analysis, Hindalco Industries stock appears to be overvalued.
The current stock price of $2.95 is trading 13.5% above its estimated GF Value™ of $2.60.
Key valuation signals for HNDNF:
Graham Number: $10.10 (1035% above median its 10-year median of 0.89)
GF Value™: $2.60 vs. price of $2.95 (13.5% above fair value)
Industry Position: 708% above the Metals & Mining median (#254 of 615)
No single metric tells the full story. See the HNDNF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hindalco Industries Ltd extracts raw materials and produces and sells industrial metals in the below segments: Copper, Aluminum Upstream and Aluminium Downstream, Novelis, and all other Segment. The Copper segment purchases raw materials and produces continuous cast copper rods, copper cathodes, sulphuric acid, gold, and silver. The firm hedges its copper and other precious metals costs through futures contracts in an attempt to match commodity price changes between the time it purchases the raw materials and sells the finished products. The Aluminum segment mines bauxite and produces hydrate and alumina, aluminum, and aluminum-based products. The majority of Hindalco's revenue comes from India. The firm is also expanding internationally with sales and operations across the globe.
85GF Score
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