IES HoldingsIESC +3.21%85 Graham Number is $124.47 as of Mar. 2026, which is 7013% above its 10-year median of 1.75. GuruFocus rates IESC with a GF Score™ of 85/100 and a GF Value™ of $261.85 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,218 Construction companies, IES Holdings ranks worse than 94.42% 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 (2026-06-30), the stock price of IES Holdings is $745.8725. IES Holdings's graham number for the quarter that ended in Mar. 2026 was $124.47. Therefore, IES Holdings's Price to Graham Number ratio for today is 5.99.
The historical rank and industry rank for IES Holdings's Graham Number or its related term are showing as below:
IESC'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.59 Med: 1.75 Max: 5.99
Current: 5.99
During the past 13 years, the highest Price to Graham Number ratio of IES Holdings was 5.99. The lowest was 0.59. And the median was 1.75.
IESC's Price-to-Graham-Number is ranked worse than 94.42% of 1218
companies
in the Construction industry
Industry Median: 1.015
vs IESC: 5.99
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
IES Holdings (NAS:IESC) 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.
IES Holdings's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
745.8725
/
124.47
=
5.99
* 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.
IES Holdings Graham Number Related Terms
IES Holdings Graham Number Historical Data
* Premium members only.
The historical data trend for IES Holdings'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 Engineering & Construction subindustry, IES Holdings'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.
IES Holdings Price-to-Graham-Number vs Construction Industry
For the Construction industry and Industrials sector, IES Holdings's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where IES Holdings'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.
IES Holdings (IESC) has a Graham Number of $124.47 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on IES Holdings and its competitors. This is 7013% above median its historical median of 1.75. Over the past decade, IES Holdings' Graham Number has ranged from 0.59 to 5.99. According to the industry distribution chart, IES Holdings ranks #1150 out of 1218 companies in the Construction industry, placing it in the top 94.4%.
Is IES Holdings' Graham Number too high?
IES Holdings' current Graham Number of $124.47 is 7013% above median its 10-year median of 1.75. Over the past 10 years, this metric has ranged from a low of 0.59 to a high of 5.99. The Construction industry median Graham Number is 1.02. IES Holdings' value of $124.47 is 12163.1% above this industry median. Based on the distribution chart, IES Holdings ranks #1150 out of 1218 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, IES Holdings has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does IES Holdings' Graham Number compare to DY and J?
According to the Construction industry distribution chart, IES Holdings ranks #1150 out of 1218 companies for Graham Number. This places IES Holdings in the lower half of its industry. The industry median Graham Number is 1.02. IES Holdings' value of $124.47 is 12163.1% above this benchmark. Historically, IES Holdings' own Graham Number has ranged from 0.59 to 5.99 over the past decade. While the company's 10-year median is 1.75 vs. the industry median of 1.02, IES Holdings 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 Construction company?
The median Graham Number among Construction companies is 1.02, based on 1,218 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. IES Holdings's current Graham Number of $124.47 is 12163.1% 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 IES Holdings and its competitors. For the Construction industry, the median Graham Number is 1.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IES Holdings's current Graham Number is $124.47, which is 7013% above median its own 10-year median of 1.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IES Holdings stock overvalued right now?
Based on GuruFocus' analysis, IES Holdings (IESC) is currently considered Significantly Overvalued. The stock's GF Value™ is $261.85, compared to a current price of $745.87 — trading 184.8% above its estimated fair value. The current Graham Number is $124.47, which is 7013% above median its 10-year median of 1.75 and 12163.1% above the Construction industry median of 1.02. IES Holdings' overall GF Score™ is 85/100 with 5 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 IES Holdings (IESC), the current Graham Number is $124.47 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 IES Holdings (IESC) Overvalued in 2026?
Based on GuruFocus' analysis, IES Holdings stock appears to be overvalued.
The current stock price of $745.87 is trading 184.8% above its estimated GF Value™ of $261.85.
GuruFocus considers IES Holdings to be Significantly Overvalued.
Key valuation signals for IESC:
Graham Number: $124.47 (7013% above median its 10-year median of 1.75)
GF Value™: $261.85 vs. price of $745.87 (184.8% above fair value)
Industry Position: 12163.1% above the Construction median (#1150 of 1218)
No single metric tells the full story. See the IESC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IES Holdings Inc owns and manages subsidiaries that design and installs integrated electrical and technology systems and provide infrastructure products and services. It has four business segments; Communications, Residential, Infrastructure Solutions, and Commercial & Industrial. The majority of the revenue for the company is generated from its Residential segment in which the company provides electrical installation services for single-family housing and multi-family apartment complexes, as well as heating, ventilation, and air conditioning (HVAC) and plumbing installation services. This segment also provides services for installing residential solar power, both for new construction and existing residences.
85GF Score
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