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 (2026-06-30), the stock price of Essex Property Trust is MXN4081.12. Essex Property Trust's graham number for the quarter that ended in Mar. 2026 was MXN1,948.78. Therefore, Essex Property Trust's Price to Graham Number ratio for today is 2.09.
The historical rank and industry rank for Essex Property Trust's Graham Number or its related term are showing as below:
MEX:ESS'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.78 Med: 2.61 Max: 3.9
Current: 2.76
During the past 13 years, the highest Price to Graham Number ratio of Essex Property Trust was 3.90. The lowest was 1.78. And the median was 2.61.
MEX:ESS's Price-to-Graham-Number is ranked worse than 92.62% of 732
companies
in the REITs industry
Industry Median: 0.74
vs MEX:ESS: 2.76
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Essex Property Trust (MEX:ESS) 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.
Essex Property Trust's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
4081.12
/
1,948.78
=
2.09
* 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.
Essex Property Trust Graham Number Related Terms
Essex Property Trust Graham Number Historical Data
* Premium members only.
The historical data trend for Essex Property Trust'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.
MEX:ESS vs INVH, MAA, SUI: Graham Number Comparison
For the REIT - Residential subindustry, Essex Property Trust'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.
Essex Property Trust Price-to-Graham-Number vs REITs Industry
For the REITs industry and Real Estate sector, Essex Property Trust's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Essex Property Trust'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.
Essex Property Trust (MEX:ESS) has a Graham Number of MXN1,948.78 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Essex Property Trust and its competitors. This is 74566% above median its historical median of 2.61. Over the past decade, Essex Property Trust's Graham Number has ranged from 1.78 to 3.90. According to the industry distribution chart, Essex Property Trust ranks #678 out of 732 companies in the REITs industry, placing it in the top 92.6%.
Is Essex Property Trust's Graham Number too high?
Essex Property Trust's current Graham Number of MXN1,948.78 is 74566% above median its 10-year median of 2.61. Over the past 10 years, this metric has ranged from a low of 1.78 to a high of 3.90. Based on the distribution chart, Essex Property Trust ranks #678 out of 732 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Essex Property Trust has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does Essex Property Trust's Graham Number compare to INVH and MAA?
According to the REITs industry distribution chart, Essex Property Trust ranks #678 out of 732 companies for Graham Number. This places Essex Property Trust in the lower half of its industry. The industry median Graham Number is 0.74. Historically, Essex Property Trust's own Graham Number has ranged from 1.78 to 3.90 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 REITs company?
The median Graham Number among REITs companies is 0.74, based on 732 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 Essex Property Trust and its competitors. For the REITs industry, the median Graham Number is 0.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Essex Property Trust's current Graham Number is MXN1,948.78, which is 74566% above median its own 10-year median of 2.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Essex Property Trust stock overvalued right now?
Essex Property Trust (MEX:ESS) has a current Graham Number of MXN1,948.78. The stock's GF Value™ is MXN3,844.47, compared to a current price of MXN4,081.12 — trading 6.2% above its estimated fair value. The current Graham Number is MXN1,948.78, which is 74566% above median its 10-year median of 2.61. Essex Property Trust's overall GF Score™ is 78/100 with 12 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 Essex Property Trust (MEX:ESS), the current Graham Number is MXN1,948.78 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 Essex Property Trust (MEX:ESS) Overvalued in 2026?
Based on GuruFocus' analysis, Essex Property Trust stock appears to be overvalued.
The current stock price of MXN4,081.12 is trading 6.2% above its estimated GF Value™ of MXN3,844.47.
Key valuation signals for MEX:ESS:
Graham Number: MXN1,948.78 (74566% above median its 10-year median of 2.61)
GF Value™: MXN3,844.47 vs. price of MXN4,081.12 (6.2% above fair value)
No single metric tells the full story. See the MEX:ESS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Essex Property Trust owns a portfolio of 259 apartment communities with over 63,000 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.
78GF Score
Get the complete analysis for MEX:ESS
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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