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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.
Taiwan Special Chemicals (ROCO:4772) 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.
Taiwan Special Chemicals's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
265.00
/
34.95
=
7.58
* 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.
Taiwan Special Chemicals Graham Number Related Terms
Taiwan Special Chemicals 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.
ROCO:4772 vs LIN, SHW, ECL: Graham Number Comparison
For the Specialty Chemicals subindustry, Taiwan Special Chemicals'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.
Taiwan Special Chemicals Price-to-Graham-Number vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Taiwan Special Chemicals's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Taiwan Special Chemicals'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.
Taiwan Special Chemicals (ROCO:4772) has a Graham Number of NT$34.95 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Taiwan Special Chemicals and its competitors. According to the industry distribution chart, Taiwan Special Chemicals ranks #1147 out of 1201 companies in the Chemicals industry, placing it in the top 95.5%.
Is Taiwan Special Chemicals' Graham Number too high?
Taiwan Special Chemicals' current Graham Number is NT$34.95. Based on the distribution chart, Taiwan Special Chemicals ranks #1147 out of 1201 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Taiwan Special Chemicals has a GF Score™ of 66/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Taiwan Special Chemicals' Graham Number compare to LIN and SHW?
According to the Chemicals industry distribution chart, Taiwan Special Chemicals ranks #1147 out of 1201 companies for Graham Number. This places Taiwan Special Chemicals in the lower half of its industry. The industry median Graham Number is 1.45. 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 Chemicals company?
The median Graham Number among Chemicals companies is 1.45, based on 1,201 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 Taiwan Special Chemicals and its competitors. For the Chemicals industry, the median Graham Number is 1.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Taiwan Special Chemicals's current Graham Number is NT$34.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taiwan Special Chemicals stock overvalued right now?
Based on GuruFocus' analysis, Taiwan Special Chemicals (ROCO:4772) is currently considered Possible Value Trap. The stock's GF Value™ is NT$760.89, compared to a current price of NT$265.00 — trading 65.2% below its estimated fair value. The current Graham Number is NT$34.95. Taiwan Special Chemicals' overall GF Score™ is 66/100 with 1 warning sign 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 Taiwan Special Chemicals (ROCO:4772), the current Graham Number is NT$34.95 as of Jun. 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 Taiwan Special Chemicals (ROCO:4772) Overvalued in 2026?
Based on GuruFocus' analysis, Taiwan Special Chemicals stock appears to be undervalued.
The current stock price of NT$265.00 is trading 65.2% below its estimated GF Value™ of NT$760.89.
GuruFocus considers Taiwan Special Chemicals to be Possible Value Trap.
Key valuation signals for ROCO:4772:
Graham Number: NT$34.95
GF Value™: NT$760.89 vs. price of NT$265.00 (65.2% below fair value)
No single metric tells the full story. See the ROCO:4772 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Taiwan Special Chemicals Corp develops and manufactures semiconductor specialty gases (SEG) and semiconductor chemical materials (SEC), and is engaged in the sale and production of precision chemical materials, as well as the cleaning, maintenance, and refurbishment services for semiconductor equipment and components. It generates maximum revenue from the sale of specialty chemical materials. Geographically, the company generates maximum revenue from Taiwan, followed by other Asian regions, America, Northeast Asia (Japan and Korea), and Europe.
66GF Score
Get the complete analysis for ROCO:4772
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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