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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.
As of today (2026-09-15), the stock price of Art Nirman is ₹39.92. Art Nirman's graham number for the quarter that ended in Dec. 2025 was ₹N/A. Therefore, Art Nirman's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for Art Nirman's Graham Number or its related term are showing as below:
NSE:ARTNIRMAN'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.3 Med: 3.97 Max: 14.44
Current: 2.93
During the past 13 years, the highest Price to Graham Number ratio of Art Nirman was 14.44. The lowest was 1.30. And the median was 3.97.
NSE:ARTNIRMAN's Price-to-Graham-Number is ranked worse than 93.14% of 1152
companies
in the Real Estate industry
Industry Median: 0.72
vs NSE:ARTNIRMAN: 2.93
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Art Nirman (NSE:ARTNIRMAN) 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.
Art Nirman's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
39.92
/
N/A
=
N/A
* 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.
Art Nirman Graham Number Related Terms
Art Nirman Graham Number Historical Data
* Premium members only.
The historical data trend for Art Nirman's Graham Number can be seen below:
* 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 Real Estate - Development subindustry, Art Nirman'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.
Art Nirman Price-to-Graham-Number vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Art Nirman's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Art Nirman'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.
Art Nirman (NSE:ARTNIRMAN) has a Graham Number of ₹N/A as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Art Nirman and its competitors. According to the industry distribution chart, Art Nirman ranks #1073 out of 1152 companies in the Real Estate industry, placing it in the top 93.1%.
Is Art Nirman's Graham Number too high?
Art Nirman's current Graham Number is ₹N/A. Based on the distribution chart, Art Nirman ranks #1073 out of 1152 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Art Nirman has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Art Nirman's Graham Number compare to competitors?
According to the Real Estate industry distribution chart, Art Nirman ranks #1073 out of 1152 companies for Graham Number. This places Art Nirman in the lower half of its industry. The industry median Graham Number is 0.72. 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 Real Estate company?
The median Graham Number among Real Estate companies is 0.72, based on 1,152 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. 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 Art Nirman and its competitors. For the Real Estate industry, the median Graham Number is 0.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Art Nirman's current Graham Number is ₹N/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Art Nirman stock overvalued right now?
Based on GuruFocus' analysis, Art Nirman (NSE:ARTNIRMAN) is currently considered Fairly Valued. The stock's GF Value™ is ₹36.55, compared to a current price of ₹39.92 — trading 9.2% above its estimated fair value. The current Graham Number is ₹N/A. Art Nirman's overall GF Score™ is 63/100 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 Art Nirman (NSE:ARTNIRMAN), the current Graham Number is ₹N/A as of Dec. 2025. 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 Art Nirman (NSE:ARTNIRMAN) Overvalued in 2026?
Based on GuruFocus' analysis, Art Nirman stock appears to be overvalued.
The current stock price of ₹39.92 is trading 9.2% above its estimated GF Value™ of ₹36.55.
GuruFocus considers Art Nirman to be Fairly Valued.
Key valuation signals for NSE:ARTNIRMAN:
Graham Number: ₹N/A
GF Value™: ₹36.55 vs. price of ₹39.92 (9.2% above fair value)
No single metric tells the full story. See the NSE:ARTNIRMAN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Art Nirman Ltd is engaged in the construction of residential and commercial buildings in India. Its residential projects include Affordable housing, luxurious flat, and towers as well as luxurious bungalows and its commercial projects comprise office spaces as well as showrooms and shops. The company operates only in India. It operates in one segment namely Real Estate.
63GF Score
Get the complete analysis for NSE:ARTNIRMAN
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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