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RedFish LongTerm Capital SpAMIL:RFLTC -0.84%48 Graham Number is €0.50 as of Dec. 2025, which is 100% below its 10-year median of 3.27. GuruFocus rates MIL:RFLTC with a GF Score™ of 48/100 and a GF Value™ of €2.12 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 1,172 Asset Management companies, RedFish LongTerm Capital SpA ranks worse than 89.85% 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.
The historical rank and industry rank for RedFish LongTerm Capital SpA's Graham Number or its related term are showing as below:
MIL:RFLTC'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 2.36 Med: 3.27 Max: 3.27
Current: 2.36
During the past 5 years, the highest Price to Graham Number ratio of RedFish LongTerm Capital SpA was 3.27. The lowest was 2.36. And the median was 3.27.
MIL:RFLTC's Price-to-Graham-Number is ranked worse than 89.85% of 1172
companies
in the Asset Management industry
Industry Median: 0.7
vs MIL:RFLTC: 2.36
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
RedFish LongTerm Capital SpA (MIL:RFLTC) 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.
RedFish LongTerm Capital SpA's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
1.18
/
0.50
=
2.36
* 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.
RedFish LongTerm Capital SpA Graham Number Related Terms
RedFish LongTerm Capital SpA 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.
MIL:RFLTC vs BLK, BX, KKR: Graham Number Comparison
For the Asset Management subindustry, RedFish LongTerm Capital 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.
RedFish LongTerm Capital SpA Price-to-Graham-Number vs Asset Management Industry
For the Asset Management industry and Financial Services sector, RedFish LongTerm Capital SpA's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where RedFish LongTerm Capital 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.
RedFish LongTerm Capital SpA (MIL:RFLTC) has a Graham Number of €0.50 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on RedFish LongTerm Capital SpA and its competitors. This is 85% below median its historical median of 3.27. Over the past decade, RedFish LongTerm Capital SpA's Graham Number has ranged from 2.36 to 3.27. According to the industry distribution chart, RedFish LongTerm Capital SpA ranks #1053 out of 1172 companies in the Asset Management industry, placing it in the top 89.8%.
Is RedFish LongTerm Capital SpA's Graham Number too high?
RedFish LongTerm Capital SpA's current Graham Number of €0.50 is 85% below median its 10-year median of 3.27. Over the past 10 years, this metric has ranged from a low of 2.36 to a high of 3.27. Based on the distribution chart, RedFish LongTerm Capital SpA ranks #1053 out of 1172 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, RedFish LongTerm Capital SpA has a GF Score™ of 48/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does RedFish LongTerm Capital SpA's Graham Number compare to BLK and BX?
According to the Asset Management industry distribution chart, RedFish LongTerm Capital SpA ranks #1053 out of 1172 companies for Graham Number. This places RedFish LongTerm Capital SpA in the lower half of its industry. The industry median Graham Number is 0.70. Historically, RedFish LongTerm Capital SpA's own Graham Number has ranged from 2.36 to 3.27 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 an Asset Management company?
The median Graham Number among Asset Management companies is 0.70, based on 1,172 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 RedFish LongTerm Capital SpA and its competitors. For the Asset Management industry, the median Graham Number is 0.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. RedFish LongTerm Capital SpA's current Graham Number is €0.50, which is 85% below median its own 10-year median of 3.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is RedFish LongTerm Capital SpA stock overvalued right now?
Based on GuruFocus' analysis, RedFish LongTerm Capital SpA (MIL:RFLTC) is currently considered Possible Value Trap. The stock's GF Value™ is €2.12, compared to a current price of €1.18 — trading 44.3% below its estimated fair value. The current Graham Number is €0.50, which is 85% below median its 10-year median of 3.27. RedFish LongTerm Capital SpA's overall GF Score™ is 48/100 with 5 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 RedFish LongTerm Capital SpA (MIL:RFLTC), the current Graham Number is €0.50 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 RedFish LongTerm Capital SpA (MIL:RFLTC) Overvalued in 2026?
Based on GuruFocus' analysis, RedFish LongTerm Capital SpA stock appears to be undervalued.
The current stock price of €1.18 is trading 44.3% below its estimated GF Value™ of €2.12.
GuruFocus considers RedFish LongTerm Capital SpA to be Possible Value Trap.
Key valuation signals for MIL:RFLTC:
Graham Number: €0.50 (85% below median its 10-year median of 3.27)
GF Value™: €2.12 vs. price of €1.18 (44.3% below fair value)
No single metric tells the full story. See the MIL:RFLTC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
RedFish LongTerm Capital SpA is an industrial holding company specializing in the acquisition of shares in family-run Italian SMEs. The company acquires qualified minority or majority shareholdings with the intention of maintaining these investments over a long period of time, either through its investment or through club deal structures, with the involvement of other investors. The role of the company in the ecosystem of its subsidiaries is to support them in increasing some critical areas by providing them with support services to managers for the financial side, management control, and debt optimization, but above all, advisory services for the acquisition of Target Companies to pursue the development plan for external lines.
48GF Score
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