JNDOF (JINS Holdings) Graham Number: $19.79 (As of Feb. 2026) — 428% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

JNDOF JINS Holdings Inc JNDOF
85 GF Score
Price $38.43
GF Value $28.20
Valuation Significantly Overvalued
View Full Analysis

What is JINS Holdings Graham Number?

JINS Holdings JNDOF 85 Graham Number is $19.79 as of Feb. 2026, which is 428% above its 10-year median of 3.75. GuruFocus rates JNDOF with a GF Score™ of 85/100 and a GF Value™ of $28.20 (Significantly Overvalued). Among 403 Medical Devices & Instruments companies, JINS Holdings ranks worse than 57.32% 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 (2026-07-17), the stock price of JINS Holdings is $38.43. JINS Holdings's graham number for the quarter that ended in Feb. 2026 was $19.79. Therefore, JINS Holdings's Price to Graham Number ratio for today is 1.93.

The historical rank and industry rank for JINS Holdings's Graham Number or its related term are showing as below:

JNDOF' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.76   Med: 3.75   Max: 5.43
Current: 1.93

During the past 13 years, the highest Price to Graham Number ratio of JINS Holdings was 5.43. The lowest was 1.76. And the median was 3.75.

JNDOF's Price-to-Graham-Number is ranked worse than
57.32% of 403 companies
in the Medical Devices & Instruments industry
Industry Median: 1.77 vs JNDOF: 1.93

Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.


JINS Holdings  (OTCPK:JNDOF) 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.

JINS Holdings's Price to Graham number Ratio for today is calculated as

Price to Graham number=Share Price (Today)/Graham number (Q: Feb. 2026 )
=38.43/19.90
=1.93

* 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.


JINS Holdings Graham Number Related Terms


JINS Holdings Graham Number Historical Data

* Premium members only.

The historical data trend for JINS Holdings'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.

JINS Holdings Graham Number Chart

JINS Holdings Annual Data
Trend Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24 Aug25
Graham Number
Get a 7-Day Free Trial Premium Member Only Premium Member Only 14.48 8.45 8.97 14.60 20.69

JINS Holdings Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
Graham Number Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 19.52 20.61 19.79 19.79 20.04

JNDOF vs ISRG, BDX, MDLN: Graham Number Comparison

For the Medical Instruments & Supplies subindustry, JINS Holdings'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.


JINS Holdings Price-to-Graham-Number vs Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, JINS Holdings's Price-to-Graham-Number distribution charts can be found below:

* The bar in red indicates where JINS Holdings's Price-to-Graham-Number falls into.


JNDOF
85GF Score
JINS Holdings Inc JNDOF
Graham Number is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

JINS Holdings Graham Number Calculation

Graham Number is a concept based on Ben Graham's conservative valuation of companies.

JINS Holdings's Graham Number for the fiscal year that ended in Aug. 2025 is calculated as

Graham Number
=sqrt of (22.5* Tangible Book per Share *EPS without NRI)
=sqrt of (22.5*7.571*2.513)
=20.69

JINS Holdings's Graham Number for the quarter that ended in Feb. 2026 is calculated as

Graham Number
=sqrt of (22.5*Tangible Book per Share*EPS without NRI (TTM))
=sqrt of (22.5*6.993*2.518)
=19.90

* 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.

Frequently Asked Questions Learn more about Graham Number →
What does a Graham Number of $19.79 mean?
JINS Holdings (JNDOF) has a Graham Number of $19.79 as of Feb. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on JINS Holdings and its competitors. This is 428% above median its historical median of 3.75. Over the past decade, JINS Holdings' Graham Number has ranged from 1.76 to 5.43. According to the industry distribution chart, JINS Holdings ranks #231 out of 403 companies in the Medical Devices & Instruments industry, placing it in the top 57.3%.
Is JINS Holdings' Graham Number too high?
JINS Holdings' current Graham Number of $19.79 is 428% above median its 10-year median of 3.75. Over the past 10 years, this metric has ranged from a low of 1.76 to a high of 5.43. The Medical Devices & Instruments industry median Graham Number is 1.77. JINS Holdings' value of $19.79 is 1018.1% above this industry median. Based on the distribution chart, JINS Holdings ranks #231 out of 403 companies in the Medical Devices & Instruments industry, which is below the industry midpoint. Overall, JINS Holdings has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does JINS Holdings' Graham Number compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, JINS Holdings ranks #231 out of 403 companies for Graham Number. This places JINS Holdings in the lower half of its industry. The industry median Graham Number is 1.77. JINS Holdings' value of $19.79 is 1018.1% above this benchmark. Historically, JINS Holdings' own Graham Number has ranged from 1.76 to 5.43 over the past decade. While the company's 10-year median is 3.75 vs. the industry median of 1.77, JINS Holdings has consistently been above 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 Medical Devices & Instruments company?
The median Graham Number among Medical Devices & Instruments companies is 1.77, based on 403 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. JINS Holdings's current Graham Number of $19.79 is 1018.1% 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 JINS Holdings and its competitors. For the Medical Devices & Instruments industry, the median Graham Number is 1.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. JINS Holdings's current Graham Number is $19.79, which is 428% above median its own 10-year median of 3.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JINS Holdings stock overvalued right now?
Based on GuruFocus' analysis, JINS Holdings (JNDOF) is currently considered Significantly Overvalued. The stock's GF Value™ is $28.20, compared to a current price of $38.43 — trading 36.3% above its estimated fair value. The current Graham Number is $19.79, which is 428% above median its 10-year median of 3.75 and 1018.1% above the Medical Devices & Instruments industry median of 1.77. JINS Holdings' overall GF Score™ is 85/100. 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 JINS Holdings (JNDOF), the current Graham Number is $19.79 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 JINS Holdings (JNDOF) Overvalued in 2026?

Based on GuruFocus' analysis, JINS Holdings stock appears to be overvalued. The current stock price of $38.43 is trading 36.3% above its estimated GF Value™ of $28.20. GuruFocus considers JINS Holdings to be Significantly Overvalued.

Key valuation signals for JNDOF:

  • Graham Number: $19.79 (428% above median its 10-year median of 3.75)
  • GF Value™: $28.20 vs. price of $38.43 (36.3% above fair value)
  • GF Score™: 85/100
  • Industry Position: 1018.1% above the Medical Devices & Instruments median (#231 of 403)

No single metric tells the full story. See the JNDOF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


JINS Holdings Business Description

Other Exchanges 3046:Japan5F3:Germany
Address 26-4 Kawaramachi 2-chome, Gunma Prefecture, Maebashi, JPN, 371-0046
JINS Holdings Inc is an eyewear retailer that manufactures and sells private-label fashion eyeglasses and sunglasses. It offers prescription eyeglasses and nonprescription fashion or functional eyeglasses. Its inventory is on the shelves, and it charges flat rates with generally no additional charges or options for lens features. Jin has more than 300 stores in Japan as well as locations in China, Taiwan, and the United States. Stores are typically located in high-traffic areas such as shopping centers, malls, and train stations.
85GF Score

Get the complete analysis for JNDOF

Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$38.43
Price
$28.20
GF Value