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NayaxNYAX -0.21%82 Graham Number is $4.44 as of Mar. 2026, which is 67% below its 10-year median of 13.36. GuruFocus rates NYAX with a GF Score™ of 82/100 and a GF Value™ of $51.42 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,479 Software companies, Nayax ranks worse than 97.23% 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 (2026-07-24), the stock price of Nayax is $68.0217. Nayax's graham number for the quarter that ended in Mar. 2026 was $4.44. Therefore, Nayax's Price to Graham Number ratio for today is 15.31.
The historical rank and industry rank for Nayax's Graham Number or its related term are showing as below:
NYAX'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 10.93 Med: 13.36 Max: 20.64
Current: 15.46
During the past 8 years, the highest Price to Graham Number ratio of Nayax was 20.64. The lowest was 10.93. And the median was 13.36.
NYAX's Price-to-Graham-Number is ranked worse than 97.23% of 1479
companies
in the Software industry
Industry Median: 1.84
vs NYAX: 15.46
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Nayax (NAS:NYAX) 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.
Nayax's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
68.0217
/
4.44
=
15.31
* 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.
Nayax Graham Number Related Terms
Nayax Graham Number Historical Data
* Premium members only.
The historical data trend for Nayax'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.
NYAX vs MSFT, ORCL, PLTR: Graham Number Comparison
For the Software - Infrastructure subindustry, Nayax'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.
Nayax Price-to-Graham-Number vs Software Industry
For the Software industry and Technology sector, Nayax's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Nayax'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.
Nayax (NYAX) has a Graham Number of $4.44 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Nayax and its competitors. This is 67% below median its historical median of 13.36. Over the past decade, Nayax's Graham Number has ranged from 10.93 to 20.64. According to the industry distribution chart, Nayax ranks #1438 out of 1479 companies in the Software industry, placing it in the top 97.2%.
Is Nayax's Graham Number too high?
Nayax's current Graham Number of $4.44 is 67% below median its 10-year median of 13.36. Over the past 10 years, this metric has ranged from a low of 10.93 to a high of 20.64. The Software industry median Graham Number is 1.84. Nayax's value of $4.44 is 141.3% above this industry median. Based on the distribution chart, Nayax ranks #1438 out of 1479 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Nayax has a GF Score™ of 82/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nayax's Graham Number compare to MSFT and ORCL?
According to the Software industry distribution chart, Nayax ranks #1438 out of 1479 companies for Graham Number. This places Nayax in the lower half of its industry. The industry median Graham Number is 1.84. Nayax's value of $4.44 is 141.3% above this benchmark. Historically, Nayax's own Graham Number has ranged from 10.93 to 20.64 over the past decade. While the company's 10-year median is 13.36 vs. the industry median of 1.84, Nayax has consistently been above the industry average. 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 Software company?
The median Graham Number among Software companies is 1.84, based on 1,479 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. Nayax's current Graham Number of $4.44 is 141.3% 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 Nayax and its competitors. For the Software industry, the median Graham Number is 1.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nayax's current Graham Number is $4.44, which is 67% below median its own 10-year median of 13.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nayax stock overvalued right now?
Based on GuruFocus' analysis, Nayax (NYAX) is currently considered Significantly Overvalued. The stock's GF Value™ is $51.42, compared to a current price of $68.02 — trading 32.3% above its estimated fair value. The current Graham Number is $4.44, which is 67% below median its 10-year median of 13.36 and 141.3% above the Software industry median of 1.84. Nayax's overall GF Score™ is 82/100 with 8 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 Nayax (NYAX), the current Graham Number is $4.44 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 Nayax (NYAX) Overvalued in 2026?
Based on GuruFocus' analysis, Nayax stock appears to be overvalued.
The current stock price of $68.02 is trading 32.3% above its estimated GF Value™ of $51.42.
GuruFocus considers Nayax to be Significantly Overvalued.
Key valuation signals for NYAX:
Graham Number: $4.44 (67% below median its 10-year median of 13.36)
GF Value™: $51.42 vs. price of $68.02 (32.3% above fair value)
Industry Position: 141.3% above the Software median (#1438 of 1479)
No single metric tells the full story. See the NYAX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nayax Ltd is an end-to-end retail technology platform for unattended commerce. It unifies payments, operations management, and customer engagement tools into a powerful, adaptable platform for modern commerce. It provides solutions that empower businesses to enhance customer experience, accept cashless payments, and manage their operations with a robust Internet of Things (IoT) software platform, helping achieve long-term growth. The company addresses a broad range of retail verticals, including all types of vending machines, coffee machines, unattended checkout counters, self-service kiosks, ticketing machines, car wash stations, gaming machines, amusement rides, laundromats, EV charging stations, and many more.
82GF Score
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