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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 (2026-08-06), the stock price of Havila Kystruten AS is kr57.50. Havila Kystruten AS's graham number for the quarter that ended in Mar. 2026 was krN/A. Therefore, Havila Kystruten AS's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for Havila Kystruten AS's Graham Number or its related term are showing as below:
OSL:HKY's Price-to-Graham-Number is not ranked *
in the Travel & Leisure industry.
Industry Median: 1.24 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Havila Kystruten AS (OSL:HKY) 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.
Havila Kystruten AS's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
57.50
/
N/A
=
N/A
* 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.
Havila Kystruten AS Graham Number Related Terms
Havila Kystruten AS Graham Number Historical Data
* Premium members only.
The historical data trend for Havila Kystruten 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.
OSL:HKY vs BKNG, ABNB, RCL: Graham Number Comparison
For the Travel Services subindustry, Havila Kystruten 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.
Havila Kystruten AS Price-to-Graham-Number vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Havila Kystruten AS's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Havila Kystruten AS'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.
Havila Kystruten AS (OSL:HKY) has a Graham Number of krN/A as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Havila Kystruten AS and its competitors. According to the industry distribution chart, Havila Kystruten AS ranks #999999 out of 495 companies in the Travel & Leisure industry.
Is Havila Kystruten AS's Graham Number too high?
Havila Kystruten AS's current Graham Number is krN/A. Based on the distribution chart, Havila Kystruten AS ranks #999999 out of 495 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Havila Kystruten AS has a GF Score™ of 53/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Havila Kystruten AS's Graham Number compare to BKNG and ABNB?
According to the Travel & Leisure industry distribution chart, Havila Kystruten AS ranks #999999 out of 495 companies for Graham Number. This places Havila Kystruten AS in the lower half of its industry. The industry median Graham Number is 1.24. 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 Travel & Leisure company?
The median Graham Number among Travel & Leisure companies is 1.24, based on 495 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 Havila Kystruten AS and its competitors. For the Travel & Leisure industry, the median Graham Number is 1.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Havila Kystruten AS's current Graham Number is krN/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Havila Kystruten AS stock overvalued right now?
Based on GuruFocus' analysis, Havila Kystruten AS (OSL:HKY) is currently considered Fairly Valued. The stock's GF Value™ is kr55.13, compared to a current price of kr57.50 — trading 4.3% above its estimated fair value. The current Graham Number is krN/A. Havila Kystruten AS's overall GF Score™ is 53/100 with 6 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 Havila Kystruten AS (OSL:HKY), the current Graham Number is krN/A 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 Havila Kystruten AS (OSL:HKY) Overvalued in 2026?
Based on GuruFocus' analysis, Havila Kystruten AS stock appears to be overvalued.
The current stock price of kr57.50 is trading 4.3% above its estimated GF Value™ of kr55.13.
GuruFocus considers Havila Kystruten AS to be Fairly Valued.
Key valuation signals for OSL:HKY:
Graham Number: krN/A
GF Value™: kr55.13 vs. price of kr57.50 (4.3% above fair value)
No single metric tells the full story. See the OSL:HKY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Havila Kystruten AS purpose is to operate shipping, transport, and tourism activities, including development and investment in other companies, and other activities naturally related thereto. It operates four vessels on the classic coastal route between Bergen and Kirkenes, using some of the environmentally friendly ships along the Norwegian coast.
53GF Score
Get the complete analysis for OSL:HKY
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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