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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.
The historical rank and industry rank for North European Oil Royalty Trust's Graham Number or its related term are showing as below:
NRT'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 2.93 Med: 12.23 Max: 32.92
Current: 3.45
During the past 13 years, the highest Price to Graham Number ratio of North European Oil Royalty Trust was 32.92. The lowest was 2.93. And the median was 12.23.
NRT's Price-to-Graham-Number is ranked worse than 90.95% of 608
companies
in the Oil & Gas industry
Industry Median: 1.07
vs NRT: 3.45
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
North European Oil Royalty Trust (NYSE:NRT) 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.
North European Oil Royalty Trust's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Apr. 2026 )
=
7.49
/
2.17
=
3.45
* 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.
North European Oil Royalty Trust Graham Number Related Terms
North European Oil Royalty Trust 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.
North European Oil Royalty Trust Graham Number Chart
For the Oil & Gas E&P subindustry, North European Oil Royalty Trust'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.
North European Oil Royalty Trust Price-to-Graham-Number vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, North European Oil Royalty Trust's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where North European Oil Royalty Trust'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.
North European Oil Royalty Trust (NRT) has a Graham Number of $2.17 as of Apr. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on North European Oil Royalty Trust and its competitors. This is 82% below median its historical median of 12.23. Over the past decade, North European Oil Royalty Trust's Graham Number has ranged from 2.93 to 32.92. According to the industry distribution chart, North European Oil Royalty Trust ranks #553 out of 608 companies in the Oil & Gas industry, placing it in the top 91%.
Is North European Oil Royalty Trust's Graham Number too high?
North European Oil Royalty Trust's current Graham Number of $2.17 is 82% below median its 10-year median of 12.23. Over the past 10 years, this metric has ranged from a low of 2.93 to a high of 32.92. The Oil & Gas industry median Graham Number is 1.07. North European Oil Royalty Trust's value of $2.17 is 102.8% above this industry median. Based on the distribution chart, North European Oil Royalty Trust ranks #553 out of 608 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, North European Oil Royalty Trust has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does North European Oil Royalty Trust's Graham Number compare to PROP and LRDC?
According to the Oil & Gas industry distribution chart, North European Oil Royalty Trust ranks #553 out of 608 companies for Graham Number. This places North European Oil Royalty Trust in the lower half of its industry. The industry median Graham Number is 1.07. North European Oil Royalty Trust's value of $2.17 is 102.8% above this benchmark. Historically, North European Oil Royalty Trust's own Graham Number has ranged from 2.93 to 32.92 over the past decade. While the company's 10-year median is 12.23 vs. the industry median of 1.07, North European Oil Royalty Trust 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 608 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. North European Oil Royalty Trust's current Graham Number of $2.17 is 102.8% 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 North European Oil Royalty Trust 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. North European Oil Royalty Trust's current Graham Number is $2.17, which is 82% below median its own 10-year median of 12.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is North European Oil Royalty Trust stock overvalued right now?
Based on GuruFocus' analysis, North European Oil Royalty Trust (NRT) is currently considered Fairly Valued. The stock's GF Value™ is $7.89, compared to a current price of $7.49 — trading 5.1% below its estimated fair value. The current Graham Number is $2.17, which is 82% below median its 10-year median of 12.23 and 102.8% above the Oil & Gas industry median of 1.07. North European Oil Royalty Trust's overall GF Score™ is 73/100 with 3 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 North European Oil Royalty Trust (NRT), the current Graham Number is $2.17 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 North European Oil Royalty Trust (NRT) Overvalued in 2026?
Based on GuruFocus' analysis, North European Oil Royalty Trust stock appears to be undervalued.
The current stock price of $7.49 is trading 5.1% below its estimated GF Value™ of $7.89.
GuruFocus considers North European Oil Royalty Trust to be Fairly Valued.
Key valuation signals for NRT:
Graham Number: $2.17 (82% below median its 10-year median of 12.23)
GF Value™: $7.89 vs. price of $7.49 (5.1% below fair value)
Industry Position: 102.8% above the Oil & Gas median (#553 of 608)
No single metric tells the full story. See the NRT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
North European Oil Royalty Trust Business Description
North European Oil Royalty Trust holds overriding royalty rights covering gas and oil production in certain concessions or leases in the Federal Republic of Germany. The properties of the trust are overriding royalty rights on sales of gas, sulfur, and oil under certain concessions or leases in the Federal Republic of Germany. The trust also holds other royalty rights, which are based on leases. It receives various percentages of royalties on the proceeds of the sales of certain products from the areas involved.
73GF Score
Get the complete analysis for NRT
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