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Speb AdhesivesNSE:SPEB 21 Graham Number is ₹42.98 as of Mar. 2026, which is 100% below its 10-year median of 1.14. GuruFocus rates NSE:SPEB with a GF Score™ of 21/100. The stock has 4 warning signs investors should review. Among 1,154 Chemicals companies, Speb Adhesives ranks worse than 65.42% 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.
As of today (2026-07-25), the stock price of Speb Adhesives is ₹87.00. Speb Adhesives's graham number for the quarter that ended in Mar. 2026 was ₹42.98. Therefore, Speb Adhesives's Price to Graham Number ratio for today is 2.02.
The historical rank and industry rank for Speb Adhesives's Graham Number or its related term are showing as below:
NSE:SPEB'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.14 Med: 1.14 Max: 2.02
Current: 2.02
During the past 5 years, the highest Price to Graham Number ratio of Speb Adhesives was 2.02. The lowest was 1.14. And the median was 1.14.
NSE:SPEB's Price-to-Graham-Number is ranked worse than 65.42% of 1154
companies
in the Chemicals industry
Industry Median: 1.445
vs NSE:SPEB: 2.02
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Speb Adhesives (NSE:SPEB) 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.
Speb Adhesives's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
87.00
/
42.98
=
2.02
* 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.
Speb Adhesives Graham Number Related Terms
Speb Adhesives Graham Number Historical Data
* Premium members only.
The historical data trend for Speb Adhesives'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.
NSE:SPEB vs LIN, SHW, ECL: Graham Number Comparison
For the Specialty Chemicals subindustry, Speb Adhesives'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.
Speb Adhesives Price-to-Graham-Number vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Speb Adhesives's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Speb Adhesives'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.
Speb Adhesives (NSE:SPEB) has a Graham Number of ₹42.98 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Speb Adhesives and its competitors. This is 3670% above median its historical median of 1.14. Over the past decade, Speb Adhesives' Graham Number has ranged from 1.14 to 2.02. According to the industry distribution chart, Speb Adhesives ranks #755 out of 1154 companies in the Chemicals industry, placing it in the top 65.4%.
Is Speb Adhesives' Graham Number too high?
Speb Adhesives' current Graham Number of ₹42.98 is 3670% above median its 10-year median of 1.14. Over the past 10 years, this metric has ranged from a low of 1.14 to a high of 2.02. Based on the distribution chart, Speb Adhesives ranks #755 out of 1154 companies in the Chemicals industry, which is below the industry midpoint. Overall, Speb Adhesives has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Speb Adhesives' Graham Number compare to LIN and SHW?
According to the Chemicals industry distribution chart, Speb Adhesives ranks #755 out of 1154 companies for Graham Number. This places Speb Adhesives in the lower half of its industry. The industry median Graham Number is 1.45. Historically, Speb Adhesives' own Graham Number has ranged from 1.14 to 2.02 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 Chemicals company?
The median Graham Number among Chemicals companies is 1.45, based on 1,154 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 Speb Adhesives and its competitors. For the Chemicals industry, the median Graham Number is 1.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Speb Adhesives's current Graham Number is ₹42.98, which is 3670% above median its own 10-year median of 1.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Speb Adhesives stock overvalued right now?
Speb Adhesives (NSE:SPEB) has a current Graham Number of ₹42.98. The current Graham Number is ₹42.98, which is 3670% above median its 10-year median of 1.14. Speb Adhesives' overall GF Score™ is 21/100 with 4 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 Speb Adhesives (NSE:SPEB), the current Graham Number is ₹42.98 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.
Speb Adhesives Ltd is engaged in the manufacturing of solvent-based synthetic rubber adhesives and offers water-based adhesives. The company focuses on in-house manufacturing of solvent-based adhesives, with water-based adhesives being produced on a contractual manufacturing basis. Its product portfolio includes various products customized for industrial and retail applications, such as multi-purpose adhesives, spray-grade adhesives, premium bonding adhesives, Ducting and Insulation adhesives, woodworking adhesives, footwear-grade adhesives, and adhesives used in Generator Sets. The company operates a B2B model through three business channels: dealer-distribution network, industrial sales, and government supply contracts. It generates the majority of its revenue from overseas markets.
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