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 Network 18 Media & Investments's Graham Number or its related term are showing as below:
NSE:NETWORK18'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.97 Med: 2.55 Max: 3.02
Current: 2.05
During the past 13 years, the highest Price to Graham Number ratio of Network 18 Media & Investments was 3.02. The lowest was 1.97. And the median was 2.55.
NSE:NETWORK18's Price-to-Graham-Number is ranked worse than 72.04% of 490
companies
in the Media - Diversified industry
Industry Median: 1.205
vs NSE:NETWORK18: 2.05
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Network 18 Media & Investments (NSE:NETWORK18) 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.
Network 18 Media & Investments's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
32.70
/
15.94
=
2.05
* 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.
Network 18 Media & Investments Graham Number Related Terms
Network 18 Media & Investments 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.
Network 18 Media & Investments Graham Number Chart
NSE:NETWORK18 vs NFLX, DIS, WBD: Graham Number Comparison
For the Entertainment subindustry, Network 18 Media & Investments'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.
Network 18 Media & Investments Price-to-Graham-Number vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Network 18 Media & Investments's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Network 18 Media & Investments'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.
Network 18 Media & Investments (NSE:NETWORK18) has a Graham Number of ₹15.94 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Network 18 Media & Investments and its competitors. This is 525% above median its historical median of 2.55. Over the past decade, Network 18 Media & Investments' Graham Number has ranged from 1.97 to 3.02. According to the industry distribution chart, Network 18 Media & Investments ranks #353 out of 490 companies in the Media - Diversified industry, placing it in the top 72%.
Is Network 18 Media & Investments' Graham Number too high?
Network 18 Media & Investments' current Graham Number of ₹15.94 is 525% above median its 10-year median of 2.55. Over the past 10 years, this metric has ranged from a low of 1.97 to a high of 3.02. Based on the distribution chart, Network 18 Media & Investments ranks #353 out of 490 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Network 18 Media & Investments has a GF Score™ of 36/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Network 18 Media & Investments' Graham Number compare to NFLX and DIS?
According to the Media - Diversified industry distribution chart, Network 18 Media & Investments ranks #353 out of 490 companies for Graham Number. This places Network 18 Media & Investments in the lower half of its industry. The industry median Graham Number is 1.21. Historically, Network 18 Media & Investments' own Graham Number has ranged from 1.97 to 3.02 over the past decade. 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 Media - Diversified company?
The median Graham Number among Media - Diversified companies is 1.21, based on 490 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 Network 18 Media & Investments and its competitors. For the Media - Diversified industry, the median Graham Number is 1.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Network 18 Media & Investments's current Graham Number is ₹15.94, which is 525% above median its own 10-year median of 2.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Network 18 Media & Investments stock overvalued right now?
Based on GuruFocus' analysis, Network 18 Media & Investments (NSE:NETWORK18) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹14.74, compared to a current price of ₹32.70 — trading 121.8% above its estimated fair value. The current Graham Number is ₹15.94, which is 525% above median its 10-year median of 2.55. Network 18 Media & Investments' overall GF Score™ is 36/100 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 Network 18 Media & Investments (NSE:NETWORK18), the current Graham Number is ₹15.94 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 Network 18 Media & Investments (NSE:NETWORK18) Overvalued in 2026?
Based on GuruFocus' analysis, Network 18 Media & Investments stock appears to be overvalued.
The current stock price of ₹32.70 is trading 121.8% above its estimated GF Value™ of ₹14.74.
GuruFocus considers Network 18 Media & Investments to be Significantly Overvalued.
Key valuation signals for NSE:NETWORK18:
Graham Number: ₹15.94 (525% above median its 10-year median of 2.55)
GF Value™: ₹14.74 vs. price of ₹32.70 (121.8% above fair value)
No single metric tells the full story. See the NSE:NETWORK18 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Network 18 Media & Investments Business Description
Network 18 Media & Investments Ltd is a media and entertainment conglomerate. The company is engaged in activities spanning broadcasting, digital content, print, and allied businesses. It owns and operates a portfolio of television entertainment channels, sports channels, new channels, and digital platforms through brands like CNBC-TV18, News18 India, JioCinema, Colors, MTV, Moneycontrol, Firstpost, and Nickelodeon, among others. It also has a presence in the film production and movie distribution business through its studio, Viacom 18 Motion Pictures. The company operates in a single segment which is Media Operations. The company generates the majority of its revenue from Advertisement, Subscription Revenue, and Program Syndication.
36GF Score
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