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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.
NHS's Price-to-Graham-Number is ranked better than 56.2% of 1169
companies
in the Asset Management industry
Industry Median: 0.71
vs NHS: 0.64
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Neuberger Berman High Yield Strategies Fund (AMEX:NHS) 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.
Neuberger Berman High Yield Strategies Fund's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Apr. 2026 )
=
6.11
/
9.48
=
0.64
* 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.
Neuberger Berman High Yield Strategies Fund Graham Number Related Terms
Neuberger Berman High Yield Strategies Fund 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.
Neuberger Berman High Yield Strategies Fund Graham Number Chart
Neuberger Berman High Yield Strategies Fund Annual Data
For the Asset Management subindustry, Neuberger Berman High Yield Strategies Fund'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.
Neuberger Berman High Yield Strategies Fund Price-to-Graham-Number vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Neuberger Berman High Yield Strategies Fund's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Neuberger Berman High Yield Strategies Fund'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.
Neuberger Berman High Yield Strategies Fund (NHS) has a Graham Number of $9.48 as of Apr. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Neuberger Berman High Yield Strategies Fund and its competitors. This is 1294% above median its historical median of 0.68. Over the past decade, Neuberger Berman High Yield Strategies Fund's Graham Number has ranged from 0.42 to 1.74. According to the industry distribution chart, Neuberger Berman High Yield Strategies Fund ranks #512 out of 1169 companies in the Asset Management industry, placing it in the top 43.8%.
Is Neuberger Berman High Yield Strategies Fund's Graham Number too high?
Neuberger Berman High Yield Strategies Fund's current Graham Number of $9.48 is 1294% above median its 10-year median of 0.68. Over the past 10 years, this metric has ranged from a low of 0.42 to a high of 1.74. The Asset Management industry median Graham Number is 0.71. Neuberger Berman High Yield Strategies Fund's value of $9.48 is 1235.2% above this industry median. Based on the distribution chart, Neuberger Berman High Yield Strategies Fund ranks #512 out of 1169 companies in the Asset Management industry, which is above the industry midpoint. Overall, Neuberger Berman High Yield Strategies Fund has a GF Score™ of 44/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Neuberger Berman High Yield Strategies Fund's Graham Number compare to NRO and TPVG?
According to the Asset Management industry distribution chart, Neuberger Berman High Yield Strategies Fund ranks #512 out of 1169 companies for Graham Number. This puts Neuberger Berman High Yield Strategies Fund in the upper half of its industry. The industry median Graham Number is 0.71. Neuberger Berman High Yield Strategies Fund's value of $9.48 is 1235.2% above this benchmark. Historically, Neuberger Berman High Yield Strategies Fund's own Graham Number has ranged from 0.42 to 1.74 over the past decade. While the company's 10-year median is 0.68 vs. the industry median of 0.71, Neuberger Berman High Yield Strategies Fund 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 Asset Management company?
The median Graham Number among Asset Management companies is 0.71, based on 1,169 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. Neuberger Berman High Yield Strategies Fund's current Graham Number of $9.48 is 1235.2% 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 Neuberger Berman High Yield Strategies Fund and its competitors. For the Asset Management industry, the median Graham Number is 0.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Neuberger Berman High Yield Strategies Fund's current Graham Number is $9.48, which is 1294% above median its own 10-year median of 0.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Neuberger Berman High Yield Strategies Fund stock overvalued right now?
Based on GuruFocus' analysis, Neuberger Berman High Yield Strategies Fund (NHS) is currently considered Modestly Undervalued. The stock's GF Value™ is $7.23, compared to a current price of $6.11 — trading 15.5% below its estimated fair value. The current Graham Number is $9.48, which is 1294% above median its 10-year median of 0.68 and 1235.2% above the Asset Management industry median of 0.71. Neuberger Berman High Yield Strategies Fund's overall GF Score™ is 44/100 with 6 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 Neuberger Berman High Yield Strategies Fund (NHS), the current Graham Number is $9.48 as of Apr. 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 Neuberger Berman High Yield Strategies Fund (NHS) Overvalued in 2026?
Based on GuruFocus' analysis, Neuberger Berman High Yield Strategies Fund stock appears to be undervalued.
The current stock price of $6.11 is trading 15.5% below its estimated GF Value™ of $7.23.
GuruFocus considers Neuberger Berman High Yield Strategies Fund to be Modestly Undervalued.
Key valuation signals for NHS:
Graham Number: $9.48 (1294% above median its 10-year median of 0.68)
GF Value™: $7.23 vs. price of $6.11 (15.5% below fair value)
Industry Position: 1235.2% above the Asset Management median (#512 of 1169)
No single metric tells the full story. See the NHS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Neuberger Berman High Yield Strategies Fund Business Description
Neuberger Berman High Yield Strategies Fund Inc is a diversified, closed-end management investment company. The company invests in high yield debt securities market. The Fund uses leverage to pursue its investment objective. The Fund may invest in a variety of direct debt instruments, including bank loans, notes and other interests in amounts owed to financial institutions by borrowers, such as companies and governments. Corporate loans in which the Fund may invest will consist of direct obligations of borrowers. The Fund may invest in corporate loans at origination as a co-lender or may acquire loans in the secondary market by purchasing participations in, assignments of or novations of corporate loans.
44GF Score
Get the complete analysis for NHS
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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