Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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.
Voya Global Advantage and Premium Opportunity Fund (NYSE:IGA) 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.
Voya Global Advantage and Premium Opportunity Fund's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Feb. 2026 )
=
10.67
/
17.16
=
0.62
* 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.
Voya Global Advantage and Premium Opportunity Fund Graham Number Related Terms
Voya Global Advantage and Premium Opportunity Fund Graham Number Historical Data
* 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.
Voya Global Advantage and Premium Opportunity Fund Graham Number Chart
Voya Global Advantage and Premium Opportunity Fund Annual Data
For the Asset Management subindustry, Voya Global Advantage and Premium Opportunity Fund'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.
Voya Global Advantage and Premium Opportunity Fund Price-to-Graham-Number vs Asset Management Industry
* 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.
Voya Global Advantage and Premium Opportunity Fund (IGA) has a Graham Number of $17.16 as of Feb. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Voya Global Advantage and Premium Opportunity Fund and its competitors. According to the industry distribution chart, Voya Global Advantage and Premium Opportunity Fund ranks #496 out of 1162 companies in the Asset Management industry, placing it in the top 42.7%.
Is Voya Global Advantage and Premium Opportunity Fund's Graham Number too high?
Voya Global Advantage and Premium Opportunity Fund's current Graham Number is $17.16. The Asset Management industry median Graham Number is 0.69. Voya Global Advantage and Premium Opportunity Fund's value of $17.16 is 2387% above this industry median. Based on the distribution chart, Voya Global Advantage and Premium Opportunity Fund ranks #496 out of 1162 companies in the Asset Management industry, which is above the industry midpoint. Overall, Voya Global Advantage and Premium Opportunity Fund has a GF Score™ of 76/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Voya Global Advantage and Premium Opportunity Fund's Graham Number compare to PCQ and NAZ?
According to the Asset Management industry distribution chart, Voya Global Advantage and Premium Opportunity Fund ranks #496 out of 1162 companies for Graham Number. This puts Voya Global Advantage and Premium Opportunity Fund in the upper half of its industry. The industry median Graham Number is 0.69. Voya Global Advantage and Premium Opportunity Fund's value of $17.16 is 2387% 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 Asset Management company?
The median Graham Number among Asset Management companies is 0.69, based on 1,162 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. Voya Global Advantage and Premium Opportunity Fund's current Graham Number of $17.16 is 2387% 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 Voya Global Advantage and Premium Opportunity Fund and its competitors. For the Asset Management industry, the median Graham Number is 0.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Voya Global Advantage and Premium Opportunity Fund's current Graham Number is $17.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Voya Global Advantage and Premium Opportunity Fund stock overvalued right now?
Based on GuruFocus' analysis, Voya Global Advantage and Premium Opportunity Fund (IGA) is currently considered Modestly Undervalued. The stock's GF Value™ is $13.56, compared to a current price of $10.67 — trading 21.3% below its estimated fair value. The current Graham Number is $17.16 and 2387% above the Asset Management industry median of 0.69. Voya Global Advantage and Premium Opportunity Fund's overall GF Score™ is 76/100 with 6 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 Voya Global Advantage and Premium Opportunity Fund (IGA), the current Graham Number is $17.16 as of Feb. 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 Voya Global Advantage and Premium Opportunity Fund (IGA) Overvalued in 2026?
Based on GuruFocus' analysis, Voya Global Advantage and Premium Opportunity Fund stock appears to be undervalued.
The current stock price of $10.67 is trading 21.3% below its estimated GF Value™ of $13.56.
GuruFocus considers Voya Global Advantage and Premium Opportunity Fund to be Modestly Undervalued.
Key valuation signals for IGA:
Graham Number: $17.16
GF Value™: $13.56 vs. price of $10.67 (21.3% below fair value)
Industry Position: 2387% above the Asset Management median (#496 of 1162)
No single metric tells the full story. See the IGA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Voya Global Advantage and Premium Opportunity Fund is a United States-based diversified, closed-end management investment company. The fund has two investment objectives. Its primary objective is to provide a high level of income, while the secondary objective is to seek capital appreciation. To achieve these objectives, the fund invests at least 80% of its managed assets in a portfolio of common stocks from various countries around the world, including the United States. Additionally, it uses an integrated derivatives strategies.
76GF Score
Get the complete analysis for IGA
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
IGA has been successfully added to your 
