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Money ForwardMNYFF -9.04%57 Graham Number is $1.16 as of May. 2026, which is 95% below its 10-year median of 23.08. GuruFocus rates MNYFF with a GF Score™ of 57/100 and a GF Value™ of $40.40 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 1,475 Software companies, Money Forward ranks worse than 67796.54% 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 (2026-08-05), the stock price of Money Forward is $26.76. Money Forward's graham number for the quarter that ended in May. 2026 was $1.16. Therefore, Money Forward's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for Money Forward's Graham Number or its related term are showing as below:
During the past 11 years, the highest Price to Graham Number ratio of Money Forward was 28.73. The lowest was 23.08. And the median was 23.08.
MNYFF's Price-to-Graham-Number is not ranked *
in the Software industry.
Industry Median: 1.9 * 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.
Money Forward (OTCPK:MNYFF) 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.
Money Forward's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: May. 2026 )
=
26.76
/
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.
Money Forward Graham Number Related Terms
Money Forward Graham Number Historical Data
* Premium members only.
The historical data trend for Money Forward'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 Software - Application subindustry, Money Forward'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.
Money Forward Price-to-Graham-Number vs Software Industry
For the Software industry and Technology sector, Money Forward's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Money Forward'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.
Money Forward (MNYFF) has a Graham Number of $1.16 as of May. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Money Forward and its competitors. This is 95% below median its historical median of 23.08. Over the past decade, Money Forward's Graham Number has ranged from 23.08 to 28.73. According to the industry distribution chart, Money Forward ranks #999999 out of 1475 companies in the Software industry.
Is Money Forward's Graham Number too high?
Money Forward's current Graham Number of $1.16 is 95% below median its 10-year median of 23.08. Over the past 10 years, this metric has ranged from a low of 23.08 to a high of 28.73. The Software industry median Graham Number is 1.90. Money Forward's value of $1.16 is 38.9% below this industry median. Based on the distribution chart, Money Forward ranks #999999 out of 1475 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Money Forward has a GF Score™ of 57/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Money Forward's Graham Number compare to QH and SHOP?
According to the Software industry distribution chart, Money Forward ranks #999999 out of 1475 companies for Graham Number. This places Money Forward in the lower half of its industry. The industry median Graham Number is 1.90. Money Forward's value of $1.16 is 38.9% below this benchmark. Historically, Money Forward's own Graham Number has ranged from 23.08 to 28.73 over the past decade. While the company's 10-year median is 23.08 vs. the industry median of 1.90, Money Forward has consistently been below the industry average. 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 Software company?
The median Graham Number among Software companies is 1.90, based on 1,475 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. Money Forward's current Graham Number of $1.16 is 38.9% below 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 Money Forward and its competitors. For the Software industry, the median Graham Number is 1.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Money Forward's current Graham Number is $1.16, which is 95% below median its own 10-year median of 23.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Money Forward stock overvalued right now?
Based on GuruFocus' analysis, Money Forward (MNYFF) is currently considered Significantly Undervalued. The stock's GF Value™ is $40.40, compared to a current price of $26.76 — trading 33.8% below its estimated fair value. The current Graham Number is $1.16, which is 95% below median its 10-year median of 23.08 and 38.9% below the Software industry median of 1.90. Money Forward's overall GF Score™ is 57/100 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 Money Forward (MNYFF), the current Graham Number is $1.16 as of May. 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 Money Forward (MNYFF) Overvalued in 2026?
Based on GuruFocus' analysis, Money Forward stock appears to be undervalued.
The current stock price of $26.76 is trading 33.8% below its estimated GF Value™ of $40.40.
GuruFocus considers Money Forward to be Significantly Undervalued.
Key valuation signals for MNYFF:
Graham Number: $1.16 (95% below median its 10-year median of 23.08)
GF Value™: $40.40 vs. price of $26.76 (33.8% below fair value)
Industry Position: 38.9% below the Software median (#999999 of 1475)
No single metric tells the full story. See the MNYFF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Money Forward Inc provides money-related services for individuals and corporations. Its service portfolio comprises personal financial management services and MF cloud services. Its personal financial management services include economic media that conveys money related themes, automatic savings app and mirai talk channel where customers can resolve their financial concerns together directly with financial planners. Its MF Cloud services comprise cloud accounting software, cloud-based tax return, invoice preparation software, payroll calculation, and cloud-based payment reconciliation.
57GF Score
Get the complete analysis for MNYFF
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