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Qnap SystemsROCO:7805 -2.17%30 Graham Number is NT$389.02 as of Jun. 2026. GuruFocus rates ROCO:7805 with a GF Score™ of 30/100. The stock has 2 warning signs investors should review. Among 1,471 Software companies, Qnap Systems ranks better than 67.78% 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 (2026-09-13), the stock price of Qnap Systems is NT$495.00. Qnap Systems's graham number for the quarter that ended in Jun. 2026 was NT$389.02. Therefore, Qnap Systems's Price to Graham Number ratio for today is 1.27.
The historical rank and industry rank for Qnap Systems's Graham Number or its related term are showing as below:
ROCO:7805'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.27 Med: 1.58 Max: 1.85
Current: 1.27
During the past 5 years, the highest Price to Graham Number ratio of Qnap Systems was 1.85. The lowest was 1.27. And the median was 1.58.
ROCO:7805's Price-to-Graham-Number is ranked better than 67.78% of 1471
companies
in the Software industry
Industry Median: 1.83
vs ROCO:7805: 1.27
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Qnap Systems (ROCO:7805) 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.
Qnap Systems's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
495.00
/
389.02
=
1.27
* 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.
Qnap Systems Graham Number Related Terms
Qnap Systems Graham Number Historical Data
* Premium members only.
The historical data trend for Qnap Systems'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.
ROCO:7805 vs CRM, SHOP, UBER: Graham Number Comparison
For the Software - Application subindustry, Qnap Systems'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.
Qnap Systems Price-to-Graham-Number vs Software Industry
For the Software industry and Technology sector, Qnap Systems's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Qnap Systems'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.
Qnap Systems (ROCO:7805) has a Graham Number of NT$389.02 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Qnap Systems and its competitors. According to the industry distribution chart, Qnap Systems ranks #474 out of 1471 companies in the Software industry, placing it in the top 32.2%.
Is Qnap Systems' Graham Number too high?
Qnap Systems' current Graham Number is NT$389.02. Based on the distribution chart, Qnap Systems ranks #474 out of 1471 companies in the Software industry, which is above the industry midpoint. Overall, Qnap Systems has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does Qnap Systems' Graham Number compare to CRM and SHOP?
According to the Software industry distribution chart, Qnap Systems ranks #474 out of 1471 companies for Graham Number. This puts Qnap Systems in the upper half of its industry. The industry median Graham Number is 1.83. 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 Software company?
The median Graham Number among Software companies is 1.83, based on 1,471 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 Qnap Systems and its competitors. For the Software industry, the median Graham Number is 1.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Qnap Systems's current Graham Number is NT$389.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Qnap Systems stock overvalued right now?
Qnap Systems (ROCO:7805) has a current Graham Number of NT$389.02. The current Graham Number is NT$389.02. Qnap Systems' overall GF Score™ is 30/100 with 2 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 Qnap Systems (ROCO:7805), the current Graham Number is NT$389.02 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.
Qnap Systems Inc is engaged in business activities that include the manufacturing and sale of data storage and processing equipment, wired communication machinery and equipment, and optical instruments, as well as related import and export trading businesses. The Group has only one reportable segment, the Network Attached Storage equipment segment. The Network Attached Storage equipment segment is mainly engaged in the manufacturing, sale, and development of data storage and processing equipment. Geographically, the company operates in Taiwan, America, Europe, Asia, and Other. The majority of its revenue is generated from Europe.
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