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Confinvest Oro SpAMIL:CFV -1.79%66 Graham Number is €1.94 as of Dec. 2025, which is 100% below its 10-year median of 1.92. GuruFocus rates MIL:CFV with a GF Score™ of 66/100 and a GF Value™ of €2.75 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 529 Capital Markets companies, Confinvest Oro SpA ranks better than 50.66% on this metric.
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 (2026-07-15), the stock price of Confinvest Oro SpA is €2.18. Confinvest Oro SpA's graham number for the quarter that ended in Dec. 2025 was €1.94. Therefore, Confinvest Oro SpA's Price to Graham Number ratio for today is 1.13.
The historical rank and industry rank for Confinvest Oro SpA's Graham Number or its related term are showing as below:
MIL:CFV'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.01 Med: 1.92 Max: 3.33
Current: 1.13
During the past 9 years, the highest Price to Graham Number ratio of Confinvest Oro SpA was 3.33. The lowest was 1.01. And the median was 1.92.
MIL:CFV's Price-to-Graham-Number is ranked better than 50.66% of 529
companies
in the Capital Markets industry
Industry Median: 1.14
vs MIL:CFV: 1.13
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Confinvest Oro SpA (MIL:CFV) 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.
Confinvest Oro SpA's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
2.18
/
1.94
=
1.13
* 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.
Confinvest Oro SpA Graham Number Related Terms
Confinvest Oro SpA Graham Number Historical Data
* Premium members only.
The historical data trend for Confinvest Oro SpA'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.
For the Capital Markets subindustry, Confinvest Oro SpA'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.
Confinvest Oro SpA Price-to-Graham-Number vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Confinvest Oro SpA's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Confinvest Oro SpA'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.
Confinvest Oro SpA (MIL:CFV) has a Graham Number of €1.94 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Confinvest Oro SpA and its competitors. This is near median its historical median of 1.92. Over the past decade, Confinvest Oro SpA's Graham Number has ranged from 1.01 to 3.33. According to the industry distribution chart, Confinvest Oro SpA ranks #261 out of 529 companies in the Capital Markets industry, placing it in the top 49.3%.
Is Confinvest Oro SpA's Graham Number too high?
Confinvest Oro SpA's current Graham Number of €1.94 is near median its 10-year median of 1.92. Over the past 10 years, this metric has ranged from a low of 1.01 to a high of 3.33. Based on the distribution chart, Confinvest Oro SpA ranks #261 out of 529 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Confinvest Oro SpA has a GF Score™ of 66/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Confinvest Oro SpA's Graham Number compare to MS and GS?
According to the Capital Markets industry distribution chart, Confinvest Oro SpA ranks #261 out of 529 companies for Graham Number. This puts Confinvest Oro SpA in the upper half of its industry. The industry median Graham Number is 1.14. Historically, Confinvest Oro SpA's own Graham Number has ranged from 1.01 to 3.33 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 Capital Markets company?
The median Graham Number among Capital Markets companies is 1.14, based on 529 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 Confinvest Oro SpA and its competitors. For the Capital Markets industry, the median Graham Number is 1.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Confinvest Oro SpA's current Graham Number is €1.94, which is near median its own 10-year median of 1.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Confinvest Oro SpA stock overvalued right now?
Based on GuruFocus' analysis, Confinvest Oro SpA (MIL:CFV) is currently considered Modestly Undervalued. The stock's GF Value™ is €2.75, compared to a current price of €2.18 — trading 20.7% below its estimated fair value. The current Graham Number is €1.94, which is near median its 10-year median of 1.92. Confinvest Oro SpA's overall GF Score™ is 66/100 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 Confinvest Oro SpA (MIL:CFV), the current Graham Number is €1.94 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 Confinvest Oro SpA (MIL:CFV) Overvalued in 2026?
Based on GuruFocus' analysis, Confinvest Oro SpA stock appears to be undervalued.
The current stock price of €2.18 is trading 20.7% below its estimated GF Value™ of €2.75.
GuruFocus considers Confinvest Oro SpA to be Modestly Undervalued.
Key valuation signals for MIL:CFV:
Graham Number: €1.94 (near median its 10-year median of 1.92)
GF Value™: €2.75 vs. price of €2.18 (20.7% below fair value)
No single metric tells the full story. See the MIL:CFV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Confinvest Oro SpA operates as a dealer of physical investment gold, engaging in the buying and selling of coins and bars that comply with international standards. The Company operates on both a national and international scale, serving both retail and wholesale markets, and utilizes insured logistics services for delivery, collection, and custody. It has developed CONTO LINGOTTO, a digital platform that, via a dedicated app, enables users to buy and sell fractional amounts of physical gold without taking physical possession of the asset.
66GF Score
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