WindowMaster International AS (OCSE:WMA) Graham Number: kr113.25 (As of Dec. 2025) — 1361% Above Median

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Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

OCSE:WMA WindowMaster International AS OCSE:WMA
68 GF Score
Price kr830.00
GF Value kr693.07
Valuation Modestly Overvalued
! 4 Warning Signs
View Full Analysis

What is WindowMaster International AS Graham Number?

WindowMaster International AS OCSE:WMA 68 Graham Number is kr113.25 as of Dec. 2025, which is 100% below its 10-year median of 7.75. GuruFocus rates OCSE:WMA with a GF Score™ of 68/100 and a GF Value™ of kr693.07 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,216 Construction companies, WindowMaster International AS ranks worse than 96.55% 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 (2026-08-12), the stock price of WindowMaster International AS is kr830.00. WindowMaster International AS's graham number for the quarter that ended in Dec. 2025 was kr113.25. Therefore, WindowMaster International AS's Price to Graham Number ratio for today is 7.33.

The historical rank and industry rank for WindowMaster International AS's Graham Number or its related term are showing as below:

OCSE:WMA' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.45   Med: 7.75   Max: 43.44
Current: 7.33

During the past 8 years, the highest Price to Graham Number ratio of WindowMaster International AS was 43.44. The lowest was 1.45. And the median was 7.75.

OCSE:WMA's Price-to-Graham-Number is ranked worse than
96.55% of 1216 companies
in the Construction industry
Industry Median: 1.01 vs OCSE:WMA: 7.33

Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.


WindowMaster International AS  (OCSE:WMA) 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.

WindowMaster International AS's Price to Graham number Ratio for today is calculated as

Price to Graham number=Share Price (Today)/Graham number (Q: Dec. 2025 )
=830.00/113.25
=7.33

* 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.


WindowMaster International AS Graham Number Related Terms


WindowMaster International AS Graham Number Historical Data

* Premium members only.

The historical data trend for WindowMaster International AS'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.

WindowMaster International AS Graham Number Chart

WindowMaster International AS Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Graham Number
Get a 7-Day Free Trial 0.00 0.00 0.00 494.17 121.07

WindowMaster International AS Semi-Annual Data
Dec18 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Graham Number Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 477.92 47.90 113.25

OCSE:WMA vs TT, JCI, CARR: Graham Number Comparison

For the Building Products & Equipment subindustry, WindowMaster International AS'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.


WindowMaster International AS Price-to-Graham-Number vs Construction Industry

For the Construction industry and Industrials sector, WindowMaster International AS's Price-to-Graham-Number distribution charts can be found below:

* The bar in red indicates where WindowMaster International AS's Price-to-Graham-Number falls into.


OCSE:WMA
68GF Score
WindowMaster International AS OCSE:WMA
Graham Number is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

WindowMaster International AS Graham Number Calculation

Graham Number is a concept based on Ben Graham's conservative valuation of companies.

WindowMaster International AS's Graham Number for the fiscal year that ended in Dec. 2025 is calculated as

Graham Number
=sqrt of (22.5* Tangible Book per Share *EPS without NRI)
=sqrt of (22.5*109.551*5.947)
=121.07

WindowMaster International AS's Graham Number for the quarter that ended in Dec. 2025 is calculated as

Graham Number
=sqrt of (22.5*Tangible Book per Share*EPS without NRI (TTM))
=sqrt of (22.5*109.551*5.203)
=113.25

* 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.

Frequently Asked Questions Learn more about Graham Number →
What does a Graham Number of kr113.25 mean?
WindowMaster International AS (OCSE:WMA) has a Graham Number of kr113.25 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on WindowMaster International AS and its competitors. This is 1361% above median its historical median of 7.75. Over the past decade, WindowMaster International AS's Graham Number has ranged from 1.45 to 43.44. According to the industry distribution chart, WindowMaster International AS ranks #1174 out of 1216 companies in the Construction industry, placing it in the top 96.5%.
Is WindowMaster International AS's Graham Number too high?
WindowMaster International AS's current Graham Number of kr113.25 is 1361% above median its 10-year median of 7.75. Over the past 10 years, this metric has ranged from a low of 1.45 to a high of 43.44. Based on the distribution chart, WindowMaster International AS ranks #1174 out of 1216 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, WindowMaster International AS has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does WindowMaster International AS's Graham Number compare to TT and JCI?
According to the Construction industry distribution chart, WindowMaster International AS ranks #1174 out of 1216 companies for Graham Number. This places WindowMaster International AS in the lower half of its industry. The industry median Graham Number is 1.01. Historically, WindowMaster International AS's own Graham Number has ranged from 1.45 to 43.44 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 Construction company?
The median Graham Number among Construction companies is 1.01, based on 1,216 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 WindowMaster International AS and its competitors. For the Construction industry, the median Graham Number is 1.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WindowMaster International AS's current Graham Number is kr113.25, which is 1361% above median its own 10-year median of 7.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WindowMaster International AS stock overvalued right now?
Based on GuruFocus' analysis, WindowMaster International AS (OCSE:WMA) is currently considered Modestly Overvalued. The stock's GF Value™ is kr693.07, compared to a current price of kr830.00 — trading 19.8% above its estimated fair value. The current Graham Number is kr113.25, which is 1361% above median its 10-year median of 7.75. WindowMaster International AS's overall GF Score™ is 68/100 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 WindowMaster International AS (OCSE:WMA), the current Graham Number is kr113.25 as of Dec. 2025. 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 WindowMaster International AS (OCSE:WMA) Overvalued in 2026?

Based on GuruFocus' analysis, WindowMaster International AS stock appears to be overvalued. The current stock price of kr830.00 is trading 19.8% above its estimated GF Value™ of kr693.07. GuruFocus considers WindowMaster International AS to be Modestly Overvalued.

Key valuation signals for OCSE:WMA:

  • Graham Number: kr113.25 (1361% above median its 10-year median of 7.75)
  • GF Value™: kr693.07 vs. price of kr830.00 (19.8% above fair value)
  • GF Score™: 68/100 with 4 warning signs

No single metric tells the full story. See the OCSE:WMA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


WindowMaster International AS Business Description

Other Exchanges 9FF0:Germany
Address Skelstedet 13, Vedbaek, DNK, 2950
WindowMaster International AS is a Danish cleantech company that provides intelligent natural ventilation solutions and heat and smoke ventilation solutions for commercial use. The company delivers both hardware (window actuators, sensors, and control panels) as well as the software required for every element of the natural ventilation solution to interact intelligently and flexibly. Its products include Actuators and Accessories, Controllers; Sensors and Detectors Accessories; and Spare parts. The group serves five segments: Nordic, DACH, UK & Ireland, North America, and international. It derives maximum revenue from DACH.
68GF Score

Get the complete analysis for OCSE:WMA

Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

kr830.00
Price
kr693.07
GF Value