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Integrated ResearchIREHF 53 Graham Number is $0.45 as of Dec. 2025, which is 87% below its 10-year median of 3.50. GuruFocus rates IREHF with a GF Score™ of 53/100 and a GF Value™ of $0.22 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,479 Software companies, Integrated Research ranks better than 95.94% 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 (2026-07-21), the stock price of Integrated Research is $0.20. Integrated Research's graham number for the quarter that ended in Dec. 2025 was $0.45. Therefore, Integrated Research's Price to Graham Number ratio for today is 0.44.
The historical rank and industry rank for Integrated Research's Graham Number or its related term are showing as below:
IREHF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.39 Med: 3.5 Max: 5.65
Current: 0.42
During the past 13 years, the highest Price to Graham Number ratio of Integrated Research was 5.65. The lowest was 0.39. And the median was 3.50.
IREHF's Price-to-Graham-Number is ranked better than 95.94% of 1479
companies
in the Software industry
Industry Median: 1.85
vs IREHF: 0.42
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Integrated Research (OTCPK:IREHF) 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.
Integrated Research's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
0.20
/
0.45
=
0.44
* 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.
Integrated Research Graham Number Related Terms
Integrated Research Graham Number Historical Data
* Premium members only.
The historical data trend for Integrated Research'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.
IREHF vs UBER, SHOP, CRM: Graham Number Comparison
For the Software - Application subindustry, Integrated Research'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.
Integrated Research Price-to-Graham-Number vs Software Industry
For the Software industry and Technology sector, Integrated Research's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Integrated Research'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.
Integrated Research (IREHF) has a Graham Number of $0.45 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Integrated Research and its competitors. This is 87% below median its historical median of 3.50. Over the past decade, Integrated Research's Graham Number has ranged from 0.39 to 5.65. According to the industry distribution chart, Integrated Research ranks #60 out of 1479 companies in the Software industry, placing it in the top 4.1%.
Is Integrated Research's Graham Number too high?
Integrated Research's current Graham Number of $0.45 is 87% below median its 10-year median of 3.50. Over the past 10 years, this metric has ranged from a low of 0.39 to a high of 5.65. The Software industry median Graham Number is 1.85. Integrated Research's value of $0.45 is 75.7% below this industry median. Based on the distribution chart, Integrated Research ranks #60 out of 1479 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Integrated Research has a GF Score™ of 53/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Integrated Research's Graham Number compare to UBER and SHOP?
According to the Software industry distribution chart, Integrated Research ranks #60 out of 1479 companies for Graham Number. This places Integrated Research in the top 4% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.85. Integrated Research's value of $0.45 is 75.7% below this benchmark. Historically, Integrated Research's own Graham Number has ranged from 0.39 to 5.65 over the past decade. While the company's 10-year median is 3.50 vs. the industry median of 1.85, Integrated Research has consistently been below 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 Software company?
The median Graham Number among Software companies is 1.85, based on 1,479 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. Integrated Research's current Graham Number of $0.45 is 75.7% below 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 Integrated Research and its competitors. For the Software industry, the median Graham Number is 1.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Integrated Research's current Graham Number is $0.45, which is 87% below median its own 10-year median of 3.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Integrated Research stock overvalued right now?
Based on GuruFocus' analysis, Integrated Research (IREHF) is currently considered Fairly Valued. The stock's GF Value™ is $0.22, compared to a current price of $0.20 — trading 9.1% below its estimated fair value. The current Graham Number is $0.45, which is 87% below median its 10-year median of 3.50 and 75.7% below the Software industry median of 1.85. Integrated Research's overall GF Score™ is 53/100 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 Integrated Research (IREHF), the current Graham Number is $0.45 as of Dec. 2025. 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 Integrated Research (IREHF) Overvalued in 2026?
Based on GuruFocus' analysis, Integrated Research stock appears to be undervalued.
The current stock price of $0.20 is trading 9.1% below its estimated GF Value™ of $0.22.
GuruFocus considers Integrated Research to be Fairly Valued.
Key valuation signals for IREHF:
Graham Number: $0.45 (87% below median its 10-year median of 3.50)
GF Value™: $0.22 vs. price of $0.20 (9.1% below fair value)
Industry Position: 75.7% below the Software median (#60 of 1479)
No single metric tells the full story. See the IREHF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Integrated Research Ltd is engaged in the design, development, implementation, and sale of systems and applications management computer software for business-critical computing, Unified Communication networks, and Payment networks. Its Prognosis platform is an integrated suite of monitoring and management software, designed to give its clients, an operational insight into and optimize the operation of their HP NonStop, distributed system servers, Unified Communications (UC), Payment environments, and the business applications that run on these platforms. The company's geographic segments include Asia Pacific, Americas, and Europe. It generates revenue from licence fees, maintenance fees, subscription fees, testing solution services, and professional services.
53GF Score
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