Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
What is National Energy Services Reunited Graham Number?
National Energy Services ReunitedNESR +0.39%62 Graham Number is $7.95 as of Mar. 2026, which is 310% above its 10-year median of 1.94. GuruFocus rates NESR with a GF Score™ of 62/100 and a GF Value™ of $10.87 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 609 Oil & Gas companies, National Energy Services Reunited ranks worse than 90.97% 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 National Energy Services Reunited's Graham Number or its related term are showing as below:
NESR'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.91 Med: 1.94 Max: 24.27
Current: 3.52
During the past 9 years, the highest Price to Graham Number ratio of National Energy Services Reunited was 24.27. The lowest was 0.91. And the median was 1.94.
NESR's Price-to-Graham-Number is ranked worse than 90.97% of 609
companies
in the Oil & Gas industry
Industry Median: 1.07
vs NESR: 3.52
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
National Energy Services Reunited (NAS:NESR) 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.
National Energy Services Reunited's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
27.96
/
7.95
=
3.52
* 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.
National Energy Services Reunited Graham Number Related Terms
National Energy Services Reunited 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.
National Energy Services Reunited Graham Number Chart
For the Oil & Gas Equipment & Services subindustry, National Energy Services Reunited'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.
National Energy Services Reunited Price-to-Graham-Number vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Energy Services Reunited's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where National Energy Services Reunited'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.
National Energy Services Reunited (NESR) has a Graham Number of $7.95 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on National Energy Services Reunited and its competitors. This is 310% above median its historical median of 1.94. Over the past decade, National Energy Services Reunited's Graham Number has ranged from 0.91 to 24.27. According to the industry distribution chart, National Energy Services Reunited ranks #554 out of 609 companies in the Oil & Gas industry, placing it in the top 91%.
Is National Energy Services Reunited's Graham Number too high?
National Energy Services Reunited's current Graham Number of $7.95 is 310% above median its 10-year median of 1.94. Over the past 10 years, this metric has ranged from a low of 0.91 to a high of 24.27. The Oil & Gas industry median Graham Number is 1.07. National Energy Services Reunited's value of $7.95 is 643% above this industry median. Based on the distribution chart, National Energy Services Reunited ranks #554 out of 609 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, National Energy Services Reunited has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Energy Services Reunited's Graham Number compare to WTTR and TDW?
According to the Oil & Gas industry distribution chart, National Energy Services Reunited ranks #554 out of 609 companies for Graham Number. This places National Energy Services Reunited in the lower half of its industry. The industry median Graham Number is 1.07. National Energy Services Reunited's value of $7.95 is 643% above this benchmark. Historically, National Energy Services Reunited's own Graham Number has ranged from 0.91 to 24.27 over the past decade. While the company's 10-year median is 1.94 vs. the industry median of 1.07, National Energy Services Reunited 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 Oil & Gas company?
The median Graham Number among Oil & Gas companies is 1.07, based on 609 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. National Energy Services Reunited's current Graham Number of $7.95 is 643% 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 National Energy Services Reunited and its competitors. For the Oil & Gas industry, the median Graham Number is 1.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Energy Services Reunited's current Graham Number is $7.95, which is 310% above median its own 10-year median of 1.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Energy Services Reunited stock overvalued right now?
Based on GuruFocus' analysis, National Energy Services Reunited (NESR) is currently considered Significantly Overvalued. The stock's GF Value™ is $10.87, compared to a current price of $27.96 — trading 157.2% above its estimated fair value. The current Graham Number is $7.95, which is 310% above median its 10-year median of 1.94 and 643% above the Oil & Gas industry median of 1.07. National Energy Services Reunited's overall GF Score™ is 62/100 with 7 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 National Energy Services Reunited (NESR), the current Graham Number is $7.95 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 National Energy Services Reunited (NESR) Overvalued in 2026?
Based on GuruFocus' analysis, National Energy Services Reunited stock appears to be overvalued.
The current stock price of $27.96 is trading 157.2% above its estimated GF Value™ of $10.87.
GuruFocus considers National Energy Services Reunited to be Significantly Overvalued.
Key valuation signals for NESR:
Graham Number: $7.95 (310% above median its 10-year median of 1.94)
GF Value™: $10.87 vs. price of $27.96 (157.2% above fair value)
Industry Position: 643% above the Oil & Gas median (#554 of 609)
No single metric tells the full story. See the NESR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Energy Services Reunited Business Description
National Energy Services Reunited Corp is an oilfield services provider in the Middle East and North Africa (MENA) region serving oil and natural gas companies. It provides upstream and midstream oilfield services, including hydraulic fracturing, coiled tubing, stimulation and pumping, cementing, as well as drilling and evaluation services such as rigs, directional drilling, drilling and completion fluids, pressure control, and well testing. Its segments are Production Services, which includes services during the completion and production stages of a well's lifecycle and generates maximum revenue, and Drilling and Evaluation Services, which includes services related to drilling operations during the well construction stage. The majority of revenue is generated from the MENA region.
62GF Score
Get the complete analysis for NESR
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NESR has been successfully added to your 
