What is Nuveen Variable Rate Preferred&Income Graham Number?
Nuveen Variable Rate Preferred&IncomeNPFD -0.27%32 Graham Number is $31.31 as of Jan. 2026, which is 4950% above its 10-year median of 0.62. GuruFocus rates NPFD with a GF Score™ of 32/100. The stock has 6 warning signs investors should review. Among 1,172 Asset Management companies, Nuveen Variable Rate Preferred&Income ranks better than 62.2% 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.
NPFD'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.54 Med: 0.62 Max: 0.66
Current: 0.6
During the past 4 years, the highest Price to Graham Number ratio of Nuveen Variable Rate Preferred&Income was 0.66. The lowest was 0.54. And the median was 0.62.
NPFD's Price-to-Graham-Number is ranked better than 62.2% of 1172
companies
in the Asset Management industry
Industry Median: 0.71
vs NPFD: 0.60
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Nuveen Variable Rate Preferred&Income (NYSE:NPFD) 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 Variable Rate Preferred&Income's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jan. 2026 )
=
18.76
/
31.31
=
0.60
* 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 Variable Rate Preferred&Income Graham Number Related Terms
Nuveen Variable Rate Preferred&Income 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 Variable Rate Preferred&Income Graham Number Chart
Nuveen Variable Rate Preferred&Income Annual Data
Trend
Jul22
Jul23
Jul24
Jul25
Graham Number
0.00
0.00
35.04
29.59
Nuveen Variable Rate Preferred&Income Semi-Annual Data
For the Asset Management subindustry, Nuveen Variable Rate Preferred&Income'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 Variable Rate Preferred&Income Price-to-Graham-Number vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Nuveen Variable Rate Preferred&Income's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Nuveen Variable Rate Preferred&Income'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 Variable Rate Preferred&Income (NPFD) has a Graham Number of $31.31 as of Jan. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Nuveen Variable Rate Preferred&Income and its competitors. This is 4950% above median its historical median of 0.62. Over the past decade, Nuveen Variable Rate Preferred&Income's Graham Number has ranged from 0.54 to 0.66. According to the industry distribution chart, Nuveen Variable Rate Preferred&Income ranks #443 out of 1172 companies in the Asset Management industry, placing it in the top 37.8%.
Is Nuveen Variable Rate Preferred&Income's Graham Number too high?
Nuveen Variable Rate Preferred&Income's current Graham Number of $31.31 is 4950% above median its 10-year median of 0.62. Over the past 10 years, this metric has ranged from a low of 0.54 to a high of 0.66. The Asset Management industry median Graham Number is 0.71. Nuveen Variable Rate Preferred&Income's value of $31.31 is 4309.9% above this industry median. Based on the distribution chart, Nuveen Variable Rate Preferred&Income ranks #443 out of 1172 companies in the Asset Management industry, which is above the industry midpoint. Overall, Nuveen Variable Rate Preferred&Income has a GF Score™ of 32/100, reflecting its overall financial health beyond just this single metric.
How does Nuveen Variable Rate Preferred&Income's Graham Number compare to ETB and EVN?
According to the Asset Management industry distribution chart, Nuveen Variable Rate Preferred&Income ranks #443 out of 1172 companies for Graham Number. This puts Nuveen Variable Rate Preferred&Income in the upper half of its industry. The industry median Graham Number is 0.71. Nuveen Variable Rate Preferred&Income's value of $31.31 is 4309.9% above this benchmark. Historically, Nuveen Variable Rate Preferred&Income's own Graham Number has ranged from 0.54 to 0.66 over the past decade. While the company's 10-year median is 0.62 vs. the industry median of 0.71, Nuveen Variable Rate Preferred&Income 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 1,172 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 Variable Rate Preferred&Income's current Graham Number of $31.31 is 4309.9% 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 Variable Rate Preferred&Income 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. Nuveen Variable Rate Preferred&Income's current Graham Number is $31.31, which is 4950% above median its own 10-year median of 0.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nuveen Variable Rate Preferred&Income stock overvalued right now?
Nuveen Variable Rate Preferred&Income (NPFD) has a current Graham Number of $31.31. The current Graham Number is $31.31, which is 4950% above median its 10-year median of 0.62 and 4309.9% above the Asset Management industry median of 0.71. Nuveen Variable Rate Preferred&Income's overall GF Score™ is 32/100 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 Nuveen Variable Rate Preferred&Income (NPFD), the current Graham Number is $31.31 as of Jan. 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.
Nuveen Variable Rate Preferred&Income Business Description
Nuveen Variable Rate Preferred&Income is a diversified, closed-end management investment company. Its investment objective is to provide a high level of current income and total return. The fund invests a majority of its assets in variable-rate preferred securities and other variable-rate income-producing securities. The rest of its investments can be made in contingent capital securities or contingent convertible securities, convertible securities, corporate debt securities, U.S. government securities, residential and commercial mortgage-backed securities, fixed-rate preferred securities, senior loans and loan participations and assignments, sovereign debt instruments, debt securities issued by supranational agencies, and/or taxable and tax-exempt municipal bonds.
32GF Score
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