Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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.
Borgestad ASAOSL:BOR -0.31%64 Graham Number is kr7.96 as of Mar. 2026, which is 100% below its 10-year median of 0.53. GuruFocus rates OSL:BOR with a GF Score™ of 64/100 and a GF Value™ of kr16.26 (Fairly Valued). The stock has 5 warning signs investors should review. Among 285 Building Materials companies, Borgestad ASA ranks worse than 80% 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 (2026-07-21), the stock price of Borgestad ASA is kr16.20. Borgestad ASA's graham number for the quarter that ended in Mar. 2026 was kr7.96. Therefore, Borgestad ASA's Price to Graham Number ratio for today is 2.04.
The historical rank and industry rank for Borgestad ASA's Graham Number or its related term are showing as below:
OSL:BOR'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.22 Med: 0.53 Max: 2.05
Current: 2.04
During the past 13 years, the highest Price to Graham Number ratio of Borgestad ASA was 2.05. The lowest was 0.22. And the median was 0.53.
OSL:BOR's Price-to-Graham-Number is ranked worse than 80% of 285
companies
in the Building Materials industry
Industry Median: 0.96
vs OSL:BOR: 2.04
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Borgestad ASA (OSL:BOR) 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.
Borgestad ASA's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
16.20
/
7.96
=
2.04
* 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.
Borgestad ASA Graham Number Related Terms
Borgestad ASA Graham Number Historical Data
* Premium members only.
The historical data trend for Borgestad ASA'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.
OSL:BOR vs CRH, VMC, MLM: Graham Number Comparison
For the Building Materials subindustry, Borgestad ASA'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.
Borgestad ASA Price-to-Graham-Number vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Borgestad ASA's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Borgestad ASA'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.
Borgestad ASA (OSL:BOR) has a Graham Number of kr7.96 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Borgestad ASA and its competitors. This is 1402% above median its historical median of 0.53. Over the past decade, Borgestad ASA's Graham Number has ranged from 0.22 to 2.05. According to the industry distribution chart, Borgestad ASA ranks #228 out of 285 companies in the Building Materials industry, placing it in the top 80%.
Is Borgestad ASA's Graham Number too high?
Borgestad ASA's current Graham Number of kr7.96 is 1402% above median its 10-year median of 0.53. Over the past 10 years, this metric has ranged from a low of 0.22 to a high of 2.05. Based on the distribution chart, Borgestad ASA ranks #228 out of 285 companies in the Building Materials industry, which is in the bottom quartile relative to peers. Overall, Borgestad ASA has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Borgestad ASA's Graham Number compare to CRH and VMC?
According to the Building Materials industry distribution chart, Borgestad ASA ranks #228 out of 285 companies for Graham Number. This places Borgestad ASA in the lower half of its industry. The industry median Graham Number is 0.96. Historically, Borgestad ASA's own Graham Number has ranged from 0.22 to 2.05 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 Building Materials company?
The median Graham Number among Building Materials companies is 0.96, based on 285 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 Borgestad ASA and its competitors. For the Building Materials industry, the median Graham Number is 0.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Borgestad ASA's current Graham Number is kr7.96, which is 1402% above median its own 10-year median of 0.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Borgestad ASA stock overvalued right now?
Based on GuruFocus' analysis, Borgestad ASA (OSL:BOR) is currently considered Fairly Valued. The stock's GF Value™ is kr16.26, compared to a current price of kr16.20 — trading 0.4% below its estimated fair value. The current Graham Number is kr7.96, which is 1402% above median its 10-year median of 0.53. Borgestad ASA's overall GF Score™ is 64/100 with 5 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 Borgestad ASA (OSL:BOR), the current Graham Number is kr7.96 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 Borgestad ASA (OSL:BOR) Overvalued in 2026?
Based on GuruFocus' analysis, Borgestad ASA stock appears to be undervalued.
The current stock price of kr16.20 is trading 0.4% below its estimated GF Value™ of kr16.26.
GuruFocus considers Borgestad ASA to be Fairly Valued.
Key valuation signals for OSL:BOR:
Graham Number: kr7.96 (1402% above median its 10-year median of 0.53)
GF Value™: kr16.26 vs. price of kr16.20 (0.4% below fair value)
No single metric tells the full story. See the OSL:BOR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Borgestad ASA is an investment company engaged in the real estate and refractory businesses. The Group has three operating segments: Real Estate, Refractory, and Other Activities. The Real Estate segment consists mainly of the Agora Bytom shopping center in Bytom, Poland. The Refractory segment develops, manufactures, and delivers refractory products, installations, and concept solutions to industrial customers through the Hoganas Borgestad Group. Its refractory materials are used to protect industrial production equipment exposed to high temperatures. The Other Activities segment includes operations in Borgestad ASA and its holding companies. Geographically, the company derives key revenue from Sweden, followed by Norway, Finland, and other regions.
64GF Score
Get the complete analysis for OSL:BOR
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
OSL:BOR has been successfully added to your 
