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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.
Flagship Communities REIT (OTCPK:MHCUF) 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.
Flagship Communities REIT's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
21.565
/
46.53
=
0.46
* 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.
Flagship Communities REIT Graham Number Related Terms
Flagship Communities REIT 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.
For the REIT - Residential subindustry, Flagship Communities REIT'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.
Flagship Communities REIT Price-to-Graham-Number vs REITs Industry
For the REITs industry and Real Estate sector, Flagship Communities REIT's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Flagship Communities REIT'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.
Flagship Communities REIT (MHCUF) has a Graham Number of $46.53 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Flagship Communities REIT and its competitors. According to the industry distribution chart, Flagship Communities REIT ranks #125 out of 722 companies in the REITs industry, placing it in the top 17.3%.
Is Flagship Communities REIT's Graham Number too high?
Flagship Communities REIT's current Graham Number is $46.53. The REITs industry median Graham Number is 0.72. Flagship Communities REIT's value of $46.53 is 6362.5% above this industry median. Based on the distribution chart, Flagship Communities REIT ranks #125 out of 722 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Flagship Communities REIT has a GF Score™ of 55/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Flagship Communities REIT's Graham Number compare to VMRK and EQR?
According to the REITs industry distribution chart, Flagship Communities REIT ranks #125 out of 722 companies for Graham Number. This places Flagship Communities REIT in the top 17% of its industry — outperforming the majority of peers. The industry median Graham Number is 0.72. Flagship Communities REIT's value of $46.53 is 6362.5% above this benchmark. 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 0.72, based on 722 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. Flagship Communities REIT's current Graham Number of $46.53 is 6362.5% 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 Flagship Communities REIT and its competitors. For the REITs industry, the median Graham Number is 0.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Flagship Communities REIT's current Graham Number is $46.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Flagship Communities REIT stock overvalued right now?
Based on GuruFocus' analysis, Flagship Communities REIT (MHCUF) is currently considered Fairly Valued. The stock's GF Value™ is $21.49, compared to a current price of $21.57 — trading 0.3% above its estimated fair value. The current Graham Number is $46.53 and 6362.5% above the REITs industry median of 0.72. Flagship Communities REIT's overall GF Score™ is 55/100 with 9 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 Flagship Communities REIT (MHCUF), the current Graham Number is $46.53 as of Jun. 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 Flagship Communities REIT (MHCUF) Overvalued in 2026?
Based on GuruFocus' analysis, Flagship Communities REIT stock appears to be overvalued.
The current stock price of $21.57 is trading 0.3% above its estimated GF Value™ of $21.49.
GuruFocus considers Flagship Communities REIT to be Fairly Valued.
Key valuation signals for MHCUF:
Graham Number: $46.53
GF Value™: $21.49 vs. price of $21.57 (0.3% above fair value)
Industry Position: 6362.5% above the REITs median (#125 of 722)
No single metric tells the full story. See the MHCUF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Flagship Communities REIT is an open-ended real estate investment trust. It is formed for the purpose of owning and operating a portfolio of income-producing manufactured housing communities and related assets. The objective of the trust is to provide unitholders with predictable, sustainable and growing cash distributions. The company owns, manages and operates multifamily properties located in the United States.
55GF Score
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