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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.
The historical rank and industry rank for Nordic Technology Group AS's Graham Number or its related term are showing as below:
OSL:NTG's Price-to-Graham-Number is not ranked *
in the Hardware industry.
Industry Median: 1.92 * 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.
Nordic Technology Group AS (OSL:NTG) 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.
Nordic Technology Group AS's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
1.49
/
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.
Nordic Technology Group AS Graham Number Related Terms
Nordic Technology Group AS Graham Number Historical Data
* 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:NTG vs COHR, KEYS, GRMN: Graham Number Comparison
For the Scientific & Technical Instruments subindustry, Nordic Technology Group 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.
Nordic Technology Group AS Price-to-Graham-Number vs Hardware Industry
For the Hardware industry and Technology sector, Nordic Technology Group AS's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Nordic Technology Group 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.
Nordic Technology Group AS (OSL:NTG) has a Graham Number of krN/A as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Nordic Technology Group AS and its competitors. According to the industry distribution chart, Nordic Technology Group AS ranks #999999 out of 1617 companies in the Hardware industry.
Is Nordic Technology Group AS's Graham Number too high?
Nordic Technology Group AS's current Graham Number is krN/A. Based on the distribution chart, Nordic Technology Group AS ranks #999999 out of 1617 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Nordic Technology Group AS has a GF Score™ of 31/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nordic Technology Group AS's Graham Number compare to COHR and KEYS?
According to the Hardware industry distribution chart, Nordic Technology Group AS ranks #999999 out of 1617 companies for Graham Number. This places Nordic Technology Group AS in the lower half of its industry. The industry median Graham Number is 1.92. 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 Hardware company?
The median Graham Number among Hardware companies is 1.92, based on 1,617 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 Nordic Technology Group AS and its competitors. For the Hardware industry, the median Graham Number is 1.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nordic Technology Group 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 Nordic Technology Group AS stock overvalued right now?
Based on GuruFocus' analysis, Nordic Technology Group AS (OSL:NTG) is currently considered Significantly Overvalued. The stock's GF Value™ is kr1.09, compared to a current price of kr1.49 — trading 36.7% above its estimated fair value. The current Graham Number is krN/A. Nordic Technology Group AS's overall GF Score™ is 31/100 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 Nordic Technology Group AS (OSL:NTG), the current Graham Number is krN/A 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 Nordic Technology Group AS (OSL:NTG) Overvalued in 2026?
Based on GuruFocus' analysis, Nordic Technology Group AS stock appears to be overvalued.
The current stock price of kr1.49 is trading 36.7% above its estimated GF Value™ of kr1.09.
GuruFocus considers Nordic Technology Group AS to be Significantly Overvalued.
Key valuation signals for OSL:NTG:
Graham Number: krN/A
GF Value™: kr1.09 vs. price of kr1.49 (36.7% above fair value)
No single metric tells the full story. See the OSL:NTG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nordic Technology Group AS was founded with the primary purpose of acquiring selected companies distinguished by patented products and solutions developed through extensive periods of concept development, product design, testing, qualification, certification, and market acceptance. It is organized into two business areas: sensor technology, and clean technology. The Group generates revenues from Norway, with additional revenues from Europe and other countries.
31GF Score
Get the complete analysis for OSL:NTG
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