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.
The historical rank and industry rank for PT Pembangunan Jaya Ancol Tbk's Graham Number or its related term are showing as below:
ISX:PJAA'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.22 Med: 0.49 Max: 1.41
Current: 0.25
During the past 13 years, the highest Price to Graham Number ratio of PT Pembangunan Jaya Ancol Tbk was 1.41. The lowest was 0.22. And the median was 0.49.
ISX:PJAA's Price-to-Graham-Number is ranked better than 97.43% of 505
companies
in the Travel & Leisure industry
Industry Median: 1.23
vs ISX:PJAA: 0.25
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
PT Pembangunan Jaya Ancol Tbk (ISX:PJAA) 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 Pembangunan Jaya Ancol Tbk's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
468.00
/
1,893.77
=
0.25
* 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 Pembangunan Jaya Ancol Tbk Graham Number Related Terms
PT Pembangunan Jaya Ancol Tbk 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.
ISX:PJAA vs AS, HAS, LTH: Graham Number Comparison
For the Leisure subindustry, PT Pembangunan Jaya Ancol 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 Pembangunan Jaya Ancol Tbk Price-to-Graham-Number vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, PT Pembangunan Jaya Ancol Tbk's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where PT Pembangunan Jaya Ancol 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 Pembangunan Jaya Ancol Tbk (ISX:PJAA) has a Graham Number of Rp1,893.77 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on PT Pembangunan Jaya Ancol Tbk and its competitors. According to the industry distribution chart, PT Pembangunan Jaya Ancol Tbk ranks #13 out of 505 companies in the Travel & Leisure industry, placing it in the top 2.6%.
Is PT Pembangunan Jaya Ancol Tbk's Graham Number too high?
PT Pembangunan Jaya Ancol Tbk's current Graham Number is Rp1,893.77. Based on the distribution chart, PT Pembangunan Jaya Ancol Tbk ranks #13 out of 505 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, PT Pembangunan Jaya Ancol Tbk has a GF Score™ of 78/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Pembangunan Jaya Ancol Tbk's Graham Number compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, PT Pembangunan Jaya Ancol Tbk ranks #13 out of 505 companies for Graham Number. This places PT Pembangunan Jaya Ancol Tbk in the top 3% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.23. 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 Travel & Leisure company?
The median Graham Number among Travel & Leisure companies is 1.23, based on 505 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 Pembangunan Jaya Ancol Tbk and its competitors. For the Travel & Leisure industry, the median Graham Number is 1.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Pembangunan Jaya Ancol Tbk's current Graham Number is Rp1,893.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Pembangunan Jaya Ancol Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Pembangunan Jaya Ancol Tbk (ISX:PJAA) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp547.16, compared to a current price of Rp468.00 — trading 14.5% below its estimated fair value. The current Graham Number is Rp1,893.77. PT Pembangunan Jaya Ancol Tbk's overall GF Score™ is 78/100 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 PT Pembangunan Jaya Ancol Tbk (ISX:PJAA), the current Graham Number is Rp1,893.77 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 Pembangunan Jaya Ancol Tbk (ISX:PJAA) Overvalued in 2026?
Based on GuruFocus' analysis, PT Pembangunan Jaya Ancol Tbk stock appears to be undervalued.
The current stock price of Rp468.00 is trading 14.5% below its estimated GF Value™ of Rp547.16.
GuruFocus considers PT Pembangunan Jaya Ancol Tbk to be Modestly Undervalued.
Key valuation signals for ISX:PJAA:
Graham Number: Rp1,893.77
GF Value™: Rp547.16 vs. price of Rp468.00 (14.5% below fair value)
No single metric tells the full story. See the ISX:PJAA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Pembangunan Jaya Ancol Tbk operates its business activities by classifying products and services into five market segments: Tourism, Property, Resort, Culinary segments, and Meeting, Incentives, and Conference and Exhibition (MICE). Its segments include the tourism Segment: the Real Estate Segment; and the Trading and Services Segment. The Tourism Segment derives the majority of the revenue by providing activities related to the management of tourism areas, traveling shows, and lodging.
78GF Score
Get the complete analysis for ISX:PJAA
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:PJAA has been successfully added to your 
