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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 Effwa Infra & Research's Graham Number or its related term are showing as below:
NSE:EFFWA'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.49 Med: 1.65 Max: 3.06
Current: 2.65
During the past 6 years, the highest Price to Graham Number ratio of Effwa Infra & Research was 3.06. The lowest was 1.49. And the median was 1.65.
NSE:EFFWA's Price-to-Graham-Number is ranked worse than 77.21% of 136
companies
in the Waste Management industry
Industry Median: 1.35
vs NSE:EFFWA: 2.65
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Effwa Infra & Research (NSE:EFFWA) 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.
Effwa Infra & Research's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
322.00
/
89.70
=
3.59
* 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.
Effwa Infra & Research Graham Number Related Terms
Effwa Infra & Research 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.
NSE:EFFWA vs WM, RSG, WCN: Graham Number Comparison
For the Waste Management subindustry, Effwa Infra & Research'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.
Effwa Infra & Research Price-to-Graham-Number vs Waste Management Industry
For the Waste Management industry and Industrials sector, Effwa Infra & Research's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Effwa Infra & Research'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.
Effwa Infra & Research (NSE:EFFWA) has a Graham Number of ₹121.37 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Effwa Infra & Research and its competitors. According to the industry distribution chart, Effwa Infra & Research ranks #105 out of 136 companies in the Waste Management industry, placing it in the top 77.2%.
Is Effwa Infra & Research's Graham Number too high?
Effwa Infra & Research's current Graham Number is ₹121.37. Based on the distribution chart, Effwa Infra & Research ranks #105 out of 136 companies in the Waste Management industry, which is in the bottom quartile relative to peers. Overall, Effwa Infra & Research has a GF Score™ of 47/100, reflecting its overall financial health beyond just this single metric.
How does Effwa Infra & Research's Graham Number compare to WM and RSG?
According to the Waste Management industry distribution chart, Effwa Infra & Research ranks #105 out of 136 companies for Graham Number. This places Effwa Infra & Research in the lower half of its industry. The industry median Graham Number is 1.35. 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 Waste Management company?
The median Graham Number among Waste Management companies is 1.35, based on 136 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 Effwa Infra & Research and its competitors. For the Waste Management industry, the median Graham Number is 1.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Effwa Infra & Research's current Graham Number is ₹121.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Effwa Infra & Research stock overvalued right now?
Effwa Infra & Research (NSE:EFFWA) has a current Graham Number of ₹121.37. The current Graham Number is ₹121.37. Effwa Infra & Research's overall GF Score™ is 47/100 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 Effwa Infra & Research (NSE:EFFWA), the current Graham Number is ₹121.37 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.
Effwa Infra & Research Ltd is engaged in the business of engineering, consultancy, procurement, construction and integrated project management services in water pollution control, encompassing sewage and industrial effluent treatment, solid waste treatment and disposal, ventilation systems, hazardous waste management, and water treatment plants. The company also functions as consultants and advisors, providing a range of services encompassing project organisation, management, equipment procurement, funding, and project execution.
47GF Score
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