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Choppies EnterprisesJSE:CHP 43 Graham Number is R0.57 as of Dec. 2025, which is 100% below its 10-year median of 1.28. GuruFocus rates JSE:CHP with a GF Score™ of 43/100 and a GF Value™ of R0.83 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 233 Retail - Defensive companies, Choppies Enterprises ranks worse than 75.11% 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 (2026-08-22), the stock price of Choppies Enterprises is R1.13. Choppies Enterprises's graham number for the quarter that ended in Dec. 2025 was R0.57. Therefore, Choppies Enterprises's Price to Graham Number ratio for today is 1.98.
The historical rank and industry rank for Choppies Enterprises's Graham Number or its related term are showing as below:
JSE:CHP'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.13 Med: 1.28 Max: 13.91
Current: 1.98
During the past 13 years, the highest Price to Graham Number ratio of Choppies Enterprises was 13.91. The lowest was 0.13. And the median was 1.28.
JSE:CHP's Price-to-Graham-Number is ranked worse than 75.11% of 233
companies
in the Retail - Defensive industry
Industry Median: 1.27
vs JSE:CHP: 1.98
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Choppies Enterprises (JSE:CHP) 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.
Choppies Enterprises's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
1.13
/
0.57
=
1.98
* 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.
Choppies Enterprises Graham Number Related Terms
Choppies Enterprises Graham Number Historical Data
* Premium members only.
The historical data trend for Choppies Enterprises'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.
For the Grocery Stores subindustry, Choppies Enterprises'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.
Choppies Enterprises Price-to-Graham-Number vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Choppies Enterprises's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Choppies Enterprises'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.
Choppies Enterprises (JSE:CHP) has a Graham Number of R0.57 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Choppies Enterprises and its competitors. This is 55% below median its historical median of 1.28. Over the past decade, Choppies Enterprises' Graham Number has ranged from 0.13 to 13.91. According to the industry distribution chart, Choppies Enterprises ranks #175 out of 233 companies in the Retail - Defensive industry, placing it in the top 75.1%.
Is Choppies Enterprises' Graham Number too high?
Choppies Enterprises' current Graham Number of R0.57 is 55% below median its 10-year median of 1.28. Over the past 10 years, this metric has ranged from a low of 0.13 to a high of 13.91. Based on the distribution chart, Choppies Enterprises ranks #175 out of 233 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, Choppies Enterprises has a GF Score™ of 43/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Choppies Enterprises' Graham Number compare to KR?
According to the Retail - Defensive industry distribution chart, Choppies Enterprises ranks #175 out of 233 companies for Graham Number. This places Choppies Enterprises in the lower half of its industry. The industry median Graham Number is 1.27. Historically, Choppies Enterprises' own Graham Number has ranged from 0.13 to 13.91 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 Retail - Defensive company?
The median Graham Number among Retail - Defensive companies is 1.27, based on 233 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 Choppies Enterprises and its competitors. For the Retail - Defensive industry, the median Graham Number is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Choppies Enterprises's current Graham Number is R0.57, which is 55% below median its own 10-year median of 1.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Choppies Enterprises stock overvalued right now?
Based on GuruFocus' analysis, Choppies Enterprises (JSE:CHP) is currently considered Significantly Overvalued. The stock's GF Value™ is R0.83, compared to a current price of R1.13 — trading 36.1% above its estimated fair value. The current Graham Number is R0.57, which is 55% below median its 10-year median of 1.28. Choppies Enterprises' overall GF Score™ is 43/100 with 3 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 Choppies Enterprises (JSE:CHP), the current Graham Number is R0.57 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 Choppies Enterprises (JSE:CHP) Overvalued in 2026?
Based on GuruFocus' analysis, Choppies Enterprises stock appears to be overvalued.
The current stock price of R1.13 is trading 36.1% above its estimated GF Value™ of R0.83.
GuruFocus considers Choppies Enterprises to be Significantly Overvalued.
Key valuation signals for JSE:CHP:
Graham Number: R0.57 (55% below median its 10-year median of 1.28)
GF Value™: R0.83 vs. price of R1.13 (36.1% above fair value)
No single metric tells the full story. See the JSE:CHP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Choppies Enterprises Ltd operates a supermarket chain in Botswana. The company's supermarkets offer international food brands, fast-moving consumer goods products, and Choppies private label products. Its product offerings include groceries, fresh fruit and vegetables, bakery goods, butchery items, takeaways, and value-added financial services. The company's segments include Botswana, Zambia, Zimbabwe, Kamoso Liquor, Rest of Kamoso, and Namibia, with the majority of its revenue derived from Botswana.
43GF Score
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