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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 (2026-09-09), the stock price of Nippon Shokubai Co is $12.82. Nippon Shokubai Co's graham number for the quarter that ended in Jun. 2026 was $19.03. Therefore, Nippon Shokubai Co's Price to Graham Number ratio for today is 0.67.
The historical rank and industry rank for Nippon Shokubai Co's Graham Number or its related term are showing as below:
NSHKF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.47 Med: 0.76 Max: 1.66
Current: 0.86
During the past 13 years, the highest Price to Graham Number ratio of Nippon Shokubai Co was 1.66. The lowest was 0.47. And the median was 0.76.
NSHKF's Price-to-Graham-Number is ranked better than 76.4% of 1212
companies
in the Chemicals industry
Industry Median: 1.45
vs NSHKF: 0.86
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Nippon Shokubai Co (OTCPK:NSHKF) 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.
Nippon Shokubai Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
12.82
/
19.03
=
0.67
* 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.
Nippon Shokubai Co Graham Number Related Terms
Nippon Shokubai Co Graham Number Historical Data
* Premium members only.
The historical data trend for Nippon Shokubai Co'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 Chemicals subindustry, Nippon Shokubai Co'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.
Nippon Shokubai Co Price-to-Graham-Number vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Nippon Shokubai Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Nippon Shokubai Co'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.
Nippon Shokubai Co (NSHKF) has a Graham Number of $19.03 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Nippon Shokubai Co and its competitors. According to the industry distribution chart, Nippon Shokubai Co ranks #286 out of 1212 companies in the Chemicals industry, placing it in the top 23.6%.
Is Nippon Shokubai Co's Graham Number too high?
Nippon Shokubai Co's current Graham Number is $19.03. The Chemicals industry median Graham Number is 1.45. Nippon Shokubai Co's value of $19.03 is 1212.4% above this industry median. Based on the distribution chart, Nippon Shokubai Co ranks #286 out of 1212 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Nippon Shokubai Co has a GF Score™ of 62/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Nippon Shokubai Co's Graham Number compare to DOW?
According to the Chemicals industry distribution chart, Nippon Shokubai Co ranks #286 out of 1212 companies for Graham Number. This places Nippon Shokubai Co in the top 24% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.45. Nippon Shokubai Co's value of $19.03 is 1212.4% above this benchmark. 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 1,212 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. Nippon Shokubai Co's current Graham Number of $19.03 is 1212.4% 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 Nippon Shokubai Co 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. Nippon Shokubai Co's current Graham Number is $19.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nippon Shokubai Co stock overvalued right now?
Based on GuruFocus' analysis, Nippon Shokubai Co (NSHKF) is currently considered Modestly Undervalued. The stock's GF Value™ is $14.60, compared to a current price of $12.82 — trading 12.2% below its estimated fair value. The current Graham Number is $19.03 and 1212.4% above the Chemicals industry median of 1.45. Nippon Shokubai Co's overall GF Score™ is 62/100 with 9 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 Nippon Shokubai Co (NSHKF), the current Graham Number is $19.03 as of Jun. 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 Nippon Shokubai Co (NSHKF) Overvalued in 2026?
Based on GuruFocus' analysis, Nippon Shokubai Co stock appears to be undervalued.
The current stock price of $12.82 is trading 12.2% below its estimated GF Value™ of $14.60.
GuruFocus considers Nippon Shokubai Co to be Modestly Undervalued.
Key valuation signals for NSHKF:
Graham Number: $19.03
GF Value™: $14.60 vs. price of $12.82 (12.2% below fair value)
Industry Position: 1212.4% above the Chemicals median (#286 of 1212)
No single metric tells the full story. See the NSHKF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nippon Shokubai Co Ltd manufactures and sells a variety of chemicals, catalysts, and chemical-based products. The firm organizes itself into three segments based on product type. The functional chemicals segment, which generates the majority of revenue, sells polymers for concrete mixtures, acrylates used in detergents, and resins for paints and processed adhesive products. The basic chemicals segment sells ethylene oxide and ethylene glycol used in polyester fibers and plastic beverage containers. The environment and catalysts segment sells catalysts used for automotive products and lithium-ion battery production. The majority of revenue comes from Asia.
62GF Score
Get the complete analysis for NSHKF
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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