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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.
NIM'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.82 Med: 1.04 Max: 6.15
Current: 1
During the past 9 years, the highest Price to Graham Number ratio of Nuveen Select Maturities Municipal Fund was 6.15. The lowest was 0.82. And the median was 1.04.
NIM's Price-to-Graham-Number is ranked worse than 70.29% of 1151
companies
in the Asset Management industry
Industry Median: 0.68
vs NIM: 1.00
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Nuveen Select Maturities Municipal Fund (NYSE:NIM) 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.
Nuveen Select Maturities Municipal Fund's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
9.235
/
9.19
=
1.01
* 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.
Nuveen Select Maturities Municipal Fund Graham Number Related Terms
Nuveen Select Maturities Municipal 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.
Nuveen Select Maturities Municipal Fund Graham Number Chart
Nuveen Select Maturities Municipal Fund Annual Data
For the Asset Management subindustry, Nuveen Select Maturities Municipal 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.
Nuveen Select Maturities Municipal Fund Price-to-Graham-Number vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Nuveen Select Maturities Municipal Fund's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Nuveen Select Maturities Municipal 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.
Nuveen Select Maturities Municipal Fund (NIM) has a Graham Number of $9.19 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Nuveen Select Maturities Municipal Fund and its competitors. According to the industry distribution chart, Nuveen Select Maturities Municipal Fund ranks #809 out of 1151 companies in the Asset Management industry, placing it in the top 70.3%.
Is Nuveen Select Maturities Municipal Fund's Graham Number too high?
Nuveen Select Maturities Municipal Fund's current Graham Number is $9.19. The Asset Management industry median Graham Number is 0.68. Nuveen Select Maturities Municipal Fund's value of $9.19 is 1251.5% above this industry median. Based on the distribution chart, Nuveen Select Maturities Municipal Fund ranks #809 out of 1151 companies in the Asset Management industry, which is below the industry midpoint. Overall, Nuveen Select Maturities Municipal Fund has a GF Score™ of 47/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Nuveen Select Maturities Municipal Fund's Graham Number compare to JHI and DMO?
According to the Asset Management industry distribution chart, Nuveen Select Maturities Municipal Fund ranks #809 out of 1151 companies for Graham Number. This places Nuveen Select Maturities Municipal Fund in the lower half of its industry. The industry median Graham Number is 0.68. Nuveen Select Maturities Municipal Fund's value of $9.19 is 1251.5% above this benchmark. 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 0.68, based on 1,151 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. Nuveen Select Maturities Municipal Fund's current Graham Number of $9.19 is 1251.5% 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 Nuveen Select Maturities Municipal Fund and its competitors. For the Asset Management industry, the median Graham Number is 0.68 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nuveen Select Maturities Municipal Fund's current Graham Number is $9.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nuveen Select Maturities Municipal Fund stock overvalued right now?
Based on GuruFocus' analysis, Nuveen Select Maturities Municipal Fund (NIM) is currently considered Significantly Undervalued. The stock's GF Value™ is $13.99, compared to a current price of $9.24 — trading 34% below its estimated fair value. The current Graham Number is $9.19 and 1251.5% above the Asset Management industry median of 0.68. Nuveen Select Maturities Municipal Fund's overall GF Score™ is 47/100 with 1 warning sign 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 Nuveen Select Maturities Municipal Fund (NIM), the current Graham Number is $9.19 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 Nuveen Select Maturities Municipal Fund (NIM) Overvalued in 2026?
Based on GuruFocus' analysis, Nuveen Select Maturities Municipal Fund stock appears to be undervalued.
The current stock price of $9.24 is trading 34% below its estimated GF Value™ of $13.99.
GuruFocus considers Nuveen Select Maturities Municipal Fund to be Significantly Undervalued.
Key valuation signals for NIM:
Graham Number: $9.19
GF Value™: $13.99 vs. price of $9.24 (34% below fair value)
Industry Position: 1251.5% above the Asset Management median (#809 of 1151)
No single metric tells the full story. See the NIM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nuveen Select Maturities Municipal Fund is a diversified closed-end management investment company. Its primary investment objective is to provide current income exempt from regular federal income tax, consistent with the preservation of capital. Its secondary investment objective is to enhance portfolio value relative to the municipal bond market through investments in tax-exempt municipal obligations that are underrated or undervalued, or that represent municipal market sectors that are undervalued. The fund has single operating segment.
47GF Score
Get the complete analysis for NIM
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