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.
As of today (2026-08-03), the stock price of PT Indofarma Tbk is Rp126.00. PT Indofarma Tbk's graham number for the quarter that ended in Jun. 2026 was RpN/A. Therefore, PT Indofarma Tbk's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for PT Indofarma Tbk's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of PT Indofarma Tbk was 68.93. The lowest was 12.68. And the median was 19.73.
ISX:INAF's Price-to-Graham-Number is not ranked *
in the Drug Manufacturers industry.
Industry Median: 1.505 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
PT Indofarma Tbk (ISX:INAF) 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.
PT Indofarma Tbk's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
126.00
/
N/A
=
N/A
* 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.
PT Indofarma Tbk Graham Number Related Terms
PT Indofarma Tbk Graham Number Historical Data
* Premium members only.
The historical data trend for PT Indofarma Tbk'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.
ISX:INAF vs ZTS, VTRS, NBIX: Graham Number Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, PT Indofarma Tbk'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.
PT Indofarma Tbk Price-to-Graham-Number vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, PT Indofarma Tbk's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where PT Indofarma Tbk'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.
PT Indofarma Tbk (ISX:INAF) has a Graham Number of RpN/A as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on PT Indofarma Tbk and its competitors. Over the past decade, PT Indofarma Tbk's Graham Number has ranged from 12.68 to 68.93.
Is PT Indofarma Tbk's Graham Number too high?
PT Indofarma Tbk's current Graham Number is RpN/A. Over the past 10 years, this metric has ranged from a low of 12.68 to a high of 68.93. Overall, PT Indofarma Tbk has a GF Score™ of 8/100, reflecting its overall financial health beyond just this single metric.
How does PT Indofarma Tbk's Graham Number compare to ZTS and VTRS?
PT Indofarma Tbk's Graham Number of RpN/A can be compared against companies in the Drug Manufacturers industry. The industry median Graham Number is 1.51. Historically, PT Indofarma Tbk's own Graham Number has ranged from 12.68 to 68.93 over the past decade. 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 Drug Manufacturers company?
The median Graham Number among Drug Manufacturers companies is 1.51, based on 602 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 PT Indofarma Tbk and its competitors. For the Drug Manufacturers industry, the median Graham Number is 1.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Indofarma Tbk's current Graham Number is RpN/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Indofarma Tbk stock overvalued right now?
PT Indofarma Tbk (ISX:INAF) has a current Graham Number of RpN/A. The stock's GF Value™ is Rp176.99, compared to a current price of Rp126.00 — trading 28.8% below its estimated fair value. The current Graham Number is RpN/A. PT Indofarma Tbk's overall GF Score™ is 8/100 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 PT Indofarma Tbk (ISX:INAF), the current Graham Number is RpN/A 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 PT Indofarma Tbk (ISX:INAF) Overvalued in 2026?
Based on GuruFocus' analysis, PT Indofarma Tbk stock appears to be undervalued.
The current stock price of Rp126.00 is trading 28.8% below its estimated GF Value™ of Rp176.99.
Key valuation signals for ISX:INAF:
Graham Number: RpN/A
GF Value™: Rp176.99 vs. price of Rp126.00 (28.8% below fair value)
No single metric tells the full story. See the ISX:INAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Indofarma Tbk is a specialty and generic drug manufacturing company. The company has four business segments - Medicine, Medical Devices and others. The Medicine business segment includes drug production, marketing distribution, and sales. The Medical Device Segment includes medical devices and other products. Company generates majority revenue from the Medicine segment. The Company classifies its distribution segments based on geographic regions into six areas, namely Java, Sumatra, Kalimantan, Sulawesi, Bali dan West Nusa Tenggara (NTB),as well as the Eastern Indonesia region.
8GF Score
Get the complete analysis for ISX:INAF
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
ISX:INAF has been successfully added to your 
