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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 Hainan Airport Infrastructure Co's Graham Number or its related term are showing as below:
SHSE:600515'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.48 Med: 1.84 Max: 10.82
Current: 2.7
During the past 13 years, the highest Price to Graham Number ratio of Hainan Airport Infrastructure Co was 10.82. The lowest was 0.48. And the median was 1.84.
SHSE:600515's Price-to-Graham-Number is ranked worse than 91.68% of 1154
companies
in the Real Estate industry
Industry Median: 0.73
vs SHSE:600515: 2.70
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Hainan Airport Infrastructure Co (SHSE:600515) 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.
Hainan Airport Infrastructure Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
2.84
/
1.05
=
2.72
* 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.
Hainan Airport Infrastructure Co Graham Number Related Terms
Hainan Airport Infrastructure Co 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.
Hainan Airport Infrastructure Co Graham Number Chart
Hainan Airport Infrastructure Co Graham Number Competitor Comparison
For the Real Estate - Diversified subindustry, Hainan Airport Infrastructure Co'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.
Hainan Airport Infrastructure Co Price-to-Graham-Number vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Hainan Airport Infrastructure Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Hainan Airport Infrastructure Co'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.
Hainan Airport Infrastructure Co (SHSE:600515) has a Graham Number of ¥1.05 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Hainan Airport Infrastructure Co and its competitors. According to the industry distribution chart, Hainan Airport Infrastructure Co ranks #1058 out of 1154 companies in the Real Estate industry, placing it in the top 91.7%.
Is Hainan Airport Infrastructure Co's Graham Number too high?
Hainan Airport Infrastructure Co's current Graham Number is ¥1.05. Based on the distribution chart, Hainan Airport Infrastructure Co ranks #1058 out of 1154 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Hainan Airport Infrastructure Co has a GF Score™ of 56/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hainan Airport Infrastructure Co's Graham Number compare to competitors?
According to the Real Estate industry distribution chart, Hainan Airport Infrastructure Co ranks #1058 out of 1154 companies for Graham Number. This places Hainan Airport Infrastructure Co in the lower half of its industry. The industry median Graham Number is 0.73. 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 Real Estate company?
The median Graham Number among Real Estate companies is 0.73, based on 1,154 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 Hainan Airport Infrastructure Co and its competitors. For the Real Estate industry, the median Graham Number is 0.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hainan Airport Infrastructure Co's current Graham Number is ¥1.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hainan Airport Infrastructure Co stock overvalued right now?
Based on GuruFocus' analysis, Hainan Airport Infrastructure Co (SHSE:600515) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥3.97, compared to a current price of ¥2.84 — trading 28.5% below its estimated fair value. The current Graham Number is ¥1.05. Hainan Airport Infrastructure Co's overall GF Score™ is 56/100 with 7 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 Hainan Airport Infrastructure Co (SHSE:600515), the current Graham Number is ¥1.05 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 Hainan Airport Infrastructure Co (SHSE:600515) Overvalued in 2026?
Based on GuruFocus' analysis, Hainan Airport Infrastructure Co stock appears to be undervalued.
The current stock price of ¥2.84 is trading 28.5% below its estimated GF Value™ of ¥3.97.
GuruFocus considers Hainan Airport Infrastructure Co to be Modestly Undervalued.
Key valuation signals for SHSE:600515:
Graham Number: ¥1.05
GF Value™: ¥3.97 vs. price of ¥2.84 (28.5% below fair value)
No single metric tells the full story. See the SHSE:600515 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hainan Airport Infrastructure Co Ltd engages in airport operation management, duty-free and commercial business, and real estate development and sales. The Real Estate Business segment focuses on industrial park investment and development, sales of completed residential units, office properties, and apartments, and leasing and management of industrial parks and investment properties. The Airport Business segment covers both aviation-related and non-aviation operations. The Property Management Business segment delivers essential property services along with additional value-added offerings. The Duty-free & Commercial segment is involved in island-based retail and related commercial activities. The Other business segment includes hotel management, aviation training, and associated services.
56GF Score
Get the complete analysis for SHSE:600515
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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