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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.
As of today (2026-09-15), the stock price of Helios Underwriting is £2.33. Helios Underwriting's graham number for the quarter that ended in Dec. 2025 was £4.05. Therefore, Helios Underwriting's Price to Graham Number ratio for today is 0.58.
The historical rank and industry rank for Helios Underwriting's Graham Number or its related term are showing as below:
LSE:HUW'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.51 Med: 0.94 Max: 8.54
Current: 0.58
During the past 13 years, the highest Price to Graham Number ratio of Helios Underwriting was 8.54. The lowest was 0.51. And the median was 0.94.
LSE:HUW's Price-to-Graham-Number is ranked better than 76.36% of 423
companies
in the Insurance industry
Industry Median: 0.92
vs LSE:HUW: 0.58
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Helios Underwriting (LSE:HUW) 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.
Helios Underwriting's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
2.33
/
4.05
=
0.58
* 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.
Helios Underwriting Graham Number Related Terms
Helios Underwriting Graham Number Historical Data
* Premium members only.
The historical data trend for Helios Underwriting'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.
LSE:HUW vs BRK.A, AIG, HIG: Graham Number Comparison
For the Insurance - Diversified subindustry, Helios Underwriting'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.
Helios Underwriting Price-to-Graham-Number vs Insurance Industry
For the Insurance industry and Financial Services sector, Helios Underwriting's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Helios Underwriting'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.
Helios Underwriting (LSE:HUW) has a Graham Number of £4.05 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Helios Underwriting and its competitors. According to the industry distribution chart, Helios Underwriting ranks #100 out of 423 companies in the Insurance industry, placing it in the top 23.6%.
Is Helios Underwriting's Graham Number too high?
Helios Underwriting's current Graham Number is £4.05. Based on the distribution chart, Helios Underwriting ranks #100 out of 423 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, Helios Underwriting has a GF Score™ of 54/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Helios Underwriting's Graham Number compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Helios Underwriting ranks #100 out of 423 companies for Graham Number. This places Helios Underwriting in the top 24% of its industry — outperforming the majority of peers. The industry median Graham Number is 0.92. 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 an Insurance company?
The median Graham Number among Insurance companies is 0.92, based on 423 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 Helios Underwriting and its competitors. For the Insurance industry, the median Graham Number is 0.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Helios Underwriting's current Graham Number is £4.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Helios Underwriting stock overvalued right now?
Based on GuruFocus' analysis, Helios Underwriting (LSE:HUW) is currently considered Modestly Undervalued. The stock's GF Value™ is £2.78, compared to a current price of £2.33 — trading 16.2% below its estimated fair value. The current Graham Number is £4.05. Helios Underwriting's overall GF Score™ is 54/100 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 Helios Underwriting (LSE:HUW), the current Graham Number is £4.05 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 Helios Underwriting (LSE:HUW) Overvalued in 2026?
Based on GuruFocus' analysis, Helios Underwriting stock appears to be undervalued.
The current stock price of £2.33 is trading 16.2% below its estimated GF Value™ of £2.78.
GuruFocus considers Helios Underwriting to be Modestly Undervalued.
Key valuation signals for LSE:HUW:
Graham Number: £4.05
GF Value™: £2.78 vs. price of £2.33 (16.2% below fair value)
No single metric tells the full story. See the LSE:HUW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Helios Underwriting PLC provides investors with exposure to the Lloyd's insurance market through an actively managed portfolio of syndicate capacity. The Company's principal activity is to provide a limited liability investment for shareholders through participation in a portfolio of Lloyd's syndicates. It participates in the insurance business as an underwriting member of Lloyd's through wholly owned undertakings and investments in Limited Liability Vehicles (LLVs). The Company also provides syndicate research, advice on syndicate selection, and portfolio curation. Its core business purpose is to offer investors growth and returns from exposure to Lloyd's of London through investment income (dividends) and capital appreciation resulting from increases in NAV per share and share price.
54GF Score
Get the complete analysis for LSE:HUW
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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