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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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 (2026-09-02), the stock price of ICL Group is $5.77. ICL Group's graham number for the quarter that ended in Jun. 2026 was $6.16. Therefore, ICL Group's Price to Graham Number ratio for today is 0.94.
The historical rank and industry rank for ICL Group's Graham Number or its related term are showing as below:
ICL'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.68 Med: 1.06 Max: 8.07
Current: 0.93
During the past 13 years, the highest Price to Graham Number ratio of ICL Group was 8.07. The lowest was 0.68. And the median was 1.06.
ICL's Price-to-Graham-Number is ranked better than 67.53% of 194
companies
in the Agriculture industry
Industry Median: 1.19
vs ICL: 0.93
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
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.
ICL Group's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
5.77
/
6.16
=
0.94
* 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.
ICL Group Graham Number Related Terms
ICL Group Graham Number Historical Data
* Premium members only.
The historical data trend for ICL Group'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 Agricultural Inputs subindustry, ICL Group'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.
ICL Group Price-to-Graham-Number vs Agriculture Industry
For the Agriculture industry and Basic Materials sector, ICL Group's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where ICL Group'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.
ICL Group (ICL) has a Graham Number of $6.16 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on ICL Group and its competitors. According to the industry distribution chart, ICL Group ranks #63 out of 194 companies in the Agriculture industry, placing it in the top 32.5%.
Is ICL Group's Graham Number too high?
ICL Group's current Graham Number is $6.16. The Agriculture industry median Graham Number is 1.19. ICL Group's value of $6.16 is 417.6% above this industry median. Based on the distribution chart, ICL Group ranks #63 out of 194 companies in the Agriculture industry, which is above the industry midpoint. Overall, ICL Group has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does ICL Group's Graham Number compare to CTVA and CF?
According to the Agriculture industry distribution chart, ICL Group ranks #63 out of 194 companies for Graham Number. This puts ICL Group in the upper half of its industry. The industry median Graham Number is 1.19. ICL Group's value of $6.16 is 417.6% above this benchmark. 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 an Agriculture company?
The median Graham Number among Agriculture companies is 1.19, based on 194 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. ICL Group's current Graham Number of $6.16 is 417.6% 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 ICL Group and its competitors. For the Agriculture industry, the median Graham Number is 1.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ICL Group's current Graham Number is $6.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ICL Group stock overvalued right now?
Based on GuruFocus' analysis, ICL Group (ICL) is currently considered Fairly Valued. The stock's GF Value™ is $6.23, compared to a current price of $5.77 — trading 7.4% below its estimated fair value. The current Graham Number is $6.16 and 417.6% above the Agriculture industry median of 1.19. ICL Group's overall GF Score™ is 75/100 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 ICL Group (ICL), the current Graham Number is $6.16 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 ICL Group (ICL) Overvalued in 2026?
Based on GuruFocus' analysis, ICL Group stock appears to be undervalued.
The current stock price of $5.77 is trading 7.4% below its estimated GF Value™ of $6.23.
GuruFocus considers ICL Group to be Fairly Valued.
Key valuation signals for ICL:
Graham Number: $6.16
GF Value™: $6.23 vs. price of $5.77 (7.4% below fair value)
Industry Position: 417.6% above the Agriculture median (#63 of 194)
No single metric tells the full story. See the ICL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ICL Group Ltd is a manufacturer of products based on minerals. The firm is comprised of four segments: phosphate solutions, potash, industrial products, and growing solutions. These segments all contribute to the company's development of agriculture, food, and engineered material products and services. Maximum revenue is generated from its phosphate solutions segment which uses phosphate commodity products, such as phosphate rock and fertilizer-grade phosphoric acid (green phosphoric acid), to produce specialty products. This segment also produces and markets phosphate-based fertilizers. Geographically, the company generates revenue from Brazil, the United States of America, China, United Kingdom, Germany, Spain, Israel, France, India, Netherlands, and other countries.
75GF Score
Get the complete analysis for ICL
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