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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 Mughal Iron & Steel Industries's Graham Number or its related term are showing as below:
KAR:MUGHAL'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.36 Med: 0.82 Max: 1.7
Current: 0.77
During the past 12 years, the highest Price to Graham Number ratio of Mughal Iron & Steel Industries was 1.70. The lowest was 0.36. And the median was 0.82.
KAR:MUGHAL's Price-to-Graham-Number is ranked better than 59.49% of 395
companies
in the Steel industry
Industry Median: 0.9
vs KAR:MUGHAL: 0.77
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Mughal Iron & Steel Industries (KAR:MUGHAL) 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.
Mughal Iron & Steel Industries's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
83.14
/
108.45
=
0.77
* 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.
Mughal Iron & Steel Industries Graham Number Related Terms
Mughal Iron & Steel Industries 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.
Mughal Iron & Steel Industries Graham Number Chart
KAR:MUGHAL vs NUE, STLD, RS: Graham Number Comparison
For the Steel subindustry, Mughal Iron & Steel Industries'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.
Mughal Iron & Steel Industries Price-to-Graham-Number vs Steel Industry
For the Steel industry and Basic Materials sector, Mughal Iron & Steel Industries's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Mughal Iron & Steel Industries'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.
Mughal Iron & Steel Industries (KAR:MUGHAL) has a Graham Number of ₨108.45 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Mughal Iron & Steel Industries and its competitors. This is 13126% above median its historical median of 0.82. Over the past decade, Mughal Iron & Steel Industries' Graham Number has ranged from 0.36 to 1.70. According to the industry distribution chart, Mughal Iron & Steel Industries ranks #160 out of 395 companies in the Steel industry, placing it in the top 40.5%.
Is Mughal Iron & Steel Industries' Graham Number too high?
Mughal Iron & Steel Industries' current Graham Number of ₨108.45 is 13126% above median its 10-year median of 0.82. Over the past 10 years, this metric has ranged from a low of 0.36 to a high of 1.70. Based on the distribution chart, Mughal Iron & Steel Industries ranks #160 out of 395 companies in the Steel industry, which is above the industry midpoint. Overall, Mughal Iron & Steel Industries has a GF Score™ of 90/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mughal Iron & Steel Industries' Graham Number compare to NUE and STLD?
According to the Steel industry distribution chart, Mughal Iron & Steel Industries ranks #160 out of 395 companies for Graham Number. This puts Mughal Iron & Steel Industries in the upper half of its industry. The industry median Graham Number is 0.90. Historically, Mughal Iron & Steel Industries' own Graham Number has ranged from 0.36 to 1.70 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 Steel company?
The median Graham Number among Steel companies is 0.90, based on 395 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 Mughal Iron & Steel Industries and its competitors. For the Steel industry, the median Graham Number is 0.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mughal Iron & Steel Industries's current Graham Number is ₨108.45, which is 13126% above median its own 10-year median of 0.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mughal Iron & Steel Industries stock overvalued right now?
Based on GuruFocus' analysis, Mughal Iron & Steel Industries (KAR:MUGHAL) is currently considered Modestly Overvalued. The stock's GF Value™ is ₨67.91, compared to a current price of ₨83.14 — trading 22.4% above its estimated fair value. The current Graham Number is ₨108.45, which is 13126% above median its 10-year median of 0.82. Mughal Iron & Steel Industries' overall GF Score™ is 90/100 with 6 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 Mughal Iron & Steel Industries (KAR:MUGHAL), the current Graham Number is ₨108.45 as of Mar. 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 Mughal Iron & Steel Industries (KAR:MUGHAL) Overvalued in 2026?
Based on GuruFocus' analysis, Mughal Iron & Steel Industries stock appears to be overvalued.
The current stock price of ₨83.14 is trading 22.4% above its estimated GF Value™ of ₨67.91.
GuruFocus considers Mughal Iron & Steel Industries to be Modestly Overvalued.
Key valuation signals for KAR:MUGHAL:
Graham Number: ₨108.45 (13126% above median its 10-year median of 0.82)
GF Value™: ₨67.91 vs. price of ₨83.14 (22.4% above fair value)
No single metric tells the full story. See the KAR:MUGHAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mughal Iron & Steel Industries Ltd is engaged in the manufacturing and trading of mild steel products. The operating segments of the company are Ferrous, Non-Ferrous, and the Energy segment. The company's main products involve Steel re-bars (G60 / Mughal Supreme), Girders, Billets, Copper ingots, and Copper granules.
90GF Score
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