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 (2026-07-08), the stock price of Mechel PAO is ₽36.18. Mechel PAO's graham number for the quarter that ended in Jun. 2023 was ₽N/A. Therefore, Mechel PAO's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for Mechel PAO's Graham Number or its related term are showing as below:
MIC:MTLR's Price-to-Graham-Number is not ranked *
in the Steel industry.
Industry Median: 0.94 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Mechel PAO (MIC:MTLR) 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.
Mechel PAO's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2023 )
=
36.18
/
N/A
=
N/A
* 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.
Mechel PAO Graham Number Related Terms
Mechel PAO Graham Number Historical Data
* Premium members only.
The historical data trend for Mechel PAO'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.
MIC:MTLR vs NUE, STLD, RS: Graham Number Comparison
For the Steel subindustry, Mechel PAO'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.
Mechel PAO Price-to-Graham-Number vs Steel Industry
For the Steel industry and Basic Materials sector, Mechel PAO's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Mechel PAO'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.
Mechel PAO (MIC:MTLR) has a Graham Number of ₽N/A as of Jun. 2023. The Graham Number values a company based on its per-share earnings and book value. View historical data on Mechel PAO and its competitors.
Is Mechel PAO's Graham Number too high?
Mechel PAO's current Graham Number is ₽N/A. Overall, Mechel PAO has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Mechel PAO's Graham Number compare to NUE and STLD?
Mechel PAO's Graham Number of ₽N/A can be compared against companies in the Steel industry. The industry median Graham Number is 0.94. 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 0.94, based on 422 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 Mechel PAO and its competitors. For the Steel industry, the median Graham Number is 0.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mechel PAO's current Graham Number is ₽N/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mechel PAO stock overvalued right now?
Mechel PAO (MIC:MTLR) has a current Graham Number of ₽N/A. The current Graham Number is ₽N/A. Mechel PAO's overall GF Score™ is 17/100. 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 Mechel PAO (MIC:MTLR), the current Graham Number is ₽N/A as of Jun. 2023. 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.
Mechel PAO is a vertically integrated group operating into three industrial segments Mining, Steel and Power. The mining segment produces metallurgical coal (coking coal, PCI and anthracite), steam coal, iron ore and iron ore concentrate, coke and chemical products. The segment consists of its coal, iron ore and coke production facilities in Russia. The steel segment produces and sells semi-finished steel products, long products of a wide range of steel grades, carbon and stainless flat steel products and high value-added metal products, including wire products, stampings and forgings, structural shapes, beams and rails. The power segment sells electricity and capacity to the wholesale market. The majority of the revenue is derived from the Steel segment.
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