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 (2026-06-25), the stock price of Netcad Yazilim AS is ₺145.40. Netcad Yazilim AS's graham number for the quarter that ended in Dec. 2024 was ₺22.27. Therefore, Netcad Yazilim AS's Price to Graham Number ratio for today is 6.53.
The historical rank and industry rank for Netcad Yazilim AS's Graham Number or its related term are showing as below:
IST:NETCD'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0 Med: 0 Max: 7.33
Current: 6.53
During the past 3 years, the highest Price to Graham Number ratio of Netcad Yazilim AS was 7.33. The lowest was 0.00. And the median was 0.00.
IST:NETCD's Price-to-Graham-Number is ranked worse than 90.86% of 1466
companies
in the Software industry
Industry Median: 1.78
vs IST:NETCD: 6.53
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Netcad Yazilim AS (IST:NETCD) 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.
Netcad Yazilim AS's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2024 )
=
145.40
/
22.27
=
6.53
* 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.
Netcad Yazilim AS Graham Number Related Terms
Netcad Yazilim AS Graham Number Historical Data
* Premium members only.
The historical data trend for Netcad Yazilim AS'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.
Netcad Yazilim AS Graham Number Chart
Netcad Yazilim AS Annual Data
Trend
Dec22
Dec23
Dec24
Graham Number
5.80
11.74
22.27
Netcad Yazilim AS Semi-Annual Data
Dec22
Dec23
Dec24
Graham Number
0.00
11.74
22.27
IST:NETCD vs CRM, SHOP, UBER: Graham Number Comparison
For the Software - Application subindustry, Netcad Yazilim AS'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.
Netcad Yazilim AS Price-to-Graham-Number vs Software Industry
For the Software industry and Technology sector, Netcad Yazilim AS's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Netcad Yazilim AS'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.
Netcad Yazilim AS (IST:NETCD) has a Graham Number of ₺22.27 as of Dec. 2024. The Graham Number values a company based on its per-share earnings and book value. View historical data on Netcad Yazilim AS and its competitors. According to the industry distribution chart, Netcad Yazilim AS ranks #1332 out of 1466 companies in the Software industry, placing it in the top 90.9%.
Is Netcad Yazilim AS's Graham Number too high?
Netcad Yazilim AS's current Graham Number is ₺22.27. Based on the distribution chart, Netcad Yazilim AS ranks #1332 out of 1466 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Netcad Yazilim AS has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does Netcad Yazilim AS's Graham Number compare to CRM and SHOP?
According to the Software industry distribution chart, Netcad Yazilim AS ranks #1332 out of 1466 companies for Graham Number. This places Netcad Yazilim AS in the lower half of its industry. The industry median Graham Number is 1.78. 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 1.78, based on 1,466 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. 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 Netcad Yazilim AS and its competitors. For the Software industry, the median Graham Number is 1.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Netcad Yazilim AS's current Graham Number is ₺22.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Netcad Yazilim AS stock overvalued right now?
Netcad Yazilim AS (IST:NETCD) has a current Graham Number of ₺22.27. The current Graham Number is ₺22.27. Netcad Yazilim AS's overall GF Score™ is 30/100 with 2 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 Netcad Yazilim AS (IST:NETCD), the current Graham Number is ₺22.27 as of Dec. 2024. 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.
Netcad Yazilim AS a developer of software in this field in Turkey focused on Geographic Information Systems (GIS), CAD, engineering and smart-city solutions. Its solutions involve Smart Cities, Smart Planning, Digital Mapping, Land Management, Smart Mining, Smart Grid Management, and Smart Transportation.
30GF Score
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