Montana Aerospace AGMTASF +4.67%44 Graham Number is $12.15 as of Mar. 2026, which is 342% above its 10-year median of 2.75. GuruFocus rates MTASF with a GF Score™ of 44/100 and a GF Value™ of $19.74 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 215 Aerospace & Defense companies, Montana Aerospace AG ranks better than 61.86% 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 (2026-07-09), the stock price of Montana Aerospace AG is $28.26. Montana Aerospace AG's graham number for the quarter that ended in Mar. 2026 was $12.15. Therefore, Montana Aerospace AG's Price to Graham Number ratio for today is 2.33.
The historical rank and industry rank for Montana Aerospace AG's Graham Number or its related term are showing as below:
MTASF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.74 Med: 2.75 Max: 3.45
Current: 2.5
During the past 8 years, the highest Price to Graham Number ratio of Montana Aerospace AG was 3.45. The lowest was 1.74. And the median was 2.75.
MTASF's Price-to-Graham-Number is ranked better than 61.86% of 215
companies
in the Aerospace & Defense industry
Industry Median: 3.03
vs MTASF: 2.50
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Montana Aerospace AG (OTCPK:MTASF) 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.
Montana Aerospace AG's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
28.26
/
12.15
=
2.33
* 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.
Montana Aerospace AG Graham Number Related Terms
Montana Aerospace AG Graham Number Historical Data
* Premium members only.
The historical data trend for Montana Aerospace AG'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 Aerospace & Defense subindustry, Montana Aerospace AG'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.
Montana Aerospace AG Price-to-Graham-Number vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Montana Aerospace AG's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Montana Aerospace AG'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.
Montana Aerospace AG (MTASF) has a Graham Number of $12.15 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Montana Aerospace AG and its competitors. This is 342% above median its historical median of 2.75. Over the past decade, Montana Aerospace AG's Graham Number has ranged from 1.74 to 3.45. According to the industry distribution chart, Montana Aerospace AG ranks #82 out of 215 companies in the Aerospace & Defense industry, placing it in the top 38.1%.
Is Montana Aerospace AG's Graham Number too high?
Montana Aerospace AG's current Graham Number of $12.15 is 342% above median its 10-year median of 2.75. Over the past 10 years, this metric has ranged from a low of 1.74 to a high of 3.45. The Aerospace & Defense industry median Graham Number is 3.03. Montana Aerospace AG's value of $12.15 is 301% above this industry median. Based on the distribution chart, Montana Aerospace AG ranks #82 out of 215 companies in the Aerospace & Defense industry, which is above the industry midpoint. Overall, Montana Aerospace AG has a GF Score™ of 44/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Montana Aerospace AG's Graham Number compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Montana Aerospace AG ranks #82 out of 215 companies for Graham Number. This puts Montana Aerospace AG in the upper half of its industry. The industry median Graham Number is 3.03. Montana Aerospace AG's value of $12.15 is 301% above this benchmark. Historically, Montana Aerospace AG's own Graham Number has ranged from 1.74 to 3.45 over the past decade. While the company's 10-year median is 2.75 vs. the industry median of 3.03, Montana Aerospace AG has consistently been above 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 an Aerospace & Defense company?
The median Graham Number among Aerospace & Defense companies is 3.03, based on 215 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. Montana Aerospace AG's current Graham Number of $12.15 is 301% 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 Montana Aerospace AG and its competitors. For the Aerospace & Defense industry, the median Graham Number is 3.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Montana Aerospace AG's current Graham Number is $12.15, which is 342% above median its own 10-year median of 2.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Montana Aerospace AG stock overvalued right now?
Based on GuruFocus' analysis, Montana Aerospace AG (MTASF) is currently considered Significantly Overvalued. The stock's GF Value™ is $19.74, compared to a current price of $28.26 — trading 43.2% above its estimated fair value. The current Graham Number is $12.15, which is 342% above median its 10-year median of 2.75 and 301% above the Aerospace & Defense industry median of 3.03. Montana Aerospace AG's overall GF Score™ is 44/100 with 2 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 Montana Aerospace AG (MTASF), the current Graham Number is $12.15 as of Mar. 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 Montana Aerospace AG (MTASF) Overvalued in 2026?
Based on GuruFocus' analysis, Montana Aerospace AG stock appears to be overvalued.
The current stock price of $28.26 is trading 43.2% above its estimated GF Value™ of $19.74.
GuruFocus considers Montana Aerospace AG to be Significantly Overvalued.
Key valuation signals for MTASF:
Graham Number: $12.15 (342% above median its 10-year median of 2.75)
GF Value™: $19.74 vs. price of $28.26 (43.2% above fair value)
Industry Position: 301% above the Aerospace & Defense median (#82 of 215)
No single metric tells the full story. See the MTASF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Montana Aerospace AG is a vertically integrated manufacturer and supplier of complex components, structures, and customized assemblies, as well as semi-finished products for specialized applications in a wide array of end markets. The company's reportable segments are Aerostructures and Alpine Metal Tech. Maximum revenue is generated from the Aerostructures segment, which develops and manufactures aircraft parts. Its product portfolio ranges from structural components for fuselage, wings, and landing gear to critical engine components subject to high thermal and mechanical loads, and functional components for the cabin interior. Geographically, the company generates maximum revenue from the USA, followed by Brazil, Germany, China, the United Kingdom, Belgium, and other countries.
44GF Score
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