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Nihon M&A Center HoldingsNHMAF 86 Graham Number is $2.40 as of Mar. 2026, which is 54% below its 10-year median of 5.20. GuruFocus rates NHMAF with a GF Score™ of 86/100 and a GF Value™ of $4.95 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 528 Capital Markets companies, Nihon M&A Center Holdings ranks worse than 70.64% 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 Nihon M&A Center Holdings's Graham Number or its related term are showing as below:
NHMAF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.69 Med: 5.2 Max: 9.66
Current: 1.8
During the past 13 years, the highest Price to Graham Number ratio of Nihon M&A Center Holdings was 9.66. The lowest was 1.69. And the median was 5.20.
NHMAF's Price-to-Graham-Number is ranked worse than 70.64% of 528
companies
in the Capital Markets industry
Industry Median: 1.13
vs NHMAF: 1.80
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Nihon M&A Center Holdings (OTCPK:NHMAF) 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.
Nihon M&A Center Holdings's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
4.2552
/
2.40
=
1.77
* 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.
Nihon M&A Center Holdings Graham Number Related Terms
Nihon M&A Center Holdings 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.
For the Capital Markets subindustry, Nihon M&A Center Holdings'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.
Nihon M&A Center Holdings Price-to-Graham-Number vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Nihon M&A Center Holdings's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Nihon M&A Center Holdings'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.
Nihon M&A Center Holdings (NHMAF) has a Graham Number of $2.40 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Nihon M&A Center Holdings and its competitors. This is 54% below median its historical median of 5.20. Over the past decade, Nihon M&A Center Holdings' Graham Number has ranged from 1.69 to 9.66. According to the industry distribution chart, Nihon M&A Center Holdings ranks #373 out of 528 companies in the Capital Markets industry, placing it in the top 70.6%.
Is Nihon M&A Center Holdings' Graham Number too high?
Nihon M&A Center Holdings' current Graham Number of $2.40 is 54% below median its 10-year median of 5.20. Over the past 10 years, this metric has ranged from a low of 1.69 to a high of 9.66. The Capital Markets industry median Graham Number is 1.13. Nihon M&A Center Holdings' value of $2.40 is 112.4% above this industry median. Based on the distribution chart, Nihon M&A Center Holdings ranks #373 out of 528 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Nihon M&A Center Holdings has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Nihon M&A Center Holdings' Graham Number compare to MS and GS?
According to the Capital Markets industry distribution chart, Nihon M&A Center Holdings ranks #373 out of 528 companies for Graham Number. This places Nihon M&A Center Holdings in the lower half of its industry. The industry median Graham Number is 1.13. Nihon M&A Center Holdings' value of $2.40 is 112.4% above this benchmark. Historically, Nihon M&A Center Holdings' own Graham Number has ranged from 1.69 to 9.66 over the past decade. While the company's 10-year median is 5.20 vs. the industry median of 1.13, Nihon M&A Center Holdings 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 a Capital Markets company?
The median Graham Number among Capital Markets companies is 1.13, based on 528 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. Nihon M&A Center Holdings's current Graham Number of $2.40 is 112.4% 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 Nihon M&A Center Holdings and its competitors. For the Capital Markets industry, the median Graham Number is 1.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nihon M&A Center Holdings's current Graham Number is $2.40, which is 54% below median its own 10-year median of 5.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nihon M&A Center Holdings stock overvalued right now?
Based on GuruFocus' analysis, Nihon M&A Center Holdings (NHMAF) is currently considered Modestly Undervalued. The stock's GF Value™ is $4.95, compared to a current price of $4.26 — trading 14% below its estimated fair value. The current Graham Number is $2.40, which is 54% below median its 10-year median of 5.20 and 112.4% above the Capital Markets industry median of 1.13. Nihon M&A Center Holdings' overall GF Score™ is 86/100 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 Nihon M&A Center Holdings (NHMAF), the current Graham Number is $2.40 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 Nihon M&A Center Holdings (NHMAF) Overvalued in 2026?
Based on GuruFocus' analysis, Nihon M&A Center Holdings stock appears to be undervalued.
The current stock price of $4.26 is trading 14% below its estimated GF Value™ of $4.95.
GuruFocus considers Nihon M&A Center Holdings to be Modestly Undervalued.
Key valuation signals for NHMAF:
Graham Number: $2.40 (54% below median its 10-year median of 5.20)
GF Value™: $4.95 vs. price of $4.26 (14% below fair value)
Industry Position: 112.4% above the Capital Markets median (#373 of 528)
No single metric tells the full story. See the NHMAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nihon M&A Center Holdings Inc is a Japan-based company involved in the merger and acquisition brokerage business. It offers M & A intermediary, corporate assessment, management buyout support, restructuring aid, corporate advisory, capital planning policy and management, and consulting services. The company is also involved in the corporate assessment business, calculating the reference price of enterprise value.
86GF Score
Get the complete analysis for NHMAF
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