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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 Jiangsu Jiangnan Water Co's Graham Number or its related term are showing as below:
SHSE:601199'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.8 Med: 1.11 Max: 1.93
Current: 1.08
During the past 13 years, the highest Price to Graham Number ratio of Jiangsu Jiangnan Water Co was 1.93. The lowest was 0.80. And the median was 1.11.
SHSE:601199's Price-to-Graham-Number is ranked better than 52.83% of 407
companies
in the Utilities - Regulated industry
Industry Median: 1.15
vs SHSE:601199: 1.08
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Jiangsu Jiangnan Water Co (SHSE:601199) 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.
Jiangsu Jiangnan Water Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
6.79
/
6.31
=
1.08
* 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.
Jiangsu Jiangnan Water Co Graham Number Related Terms
Jiangsu Jiangnan Water 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.
SHSE:601199 vs AWK, WTRG, AWR: Graham Number Comparison
For the Utilities - Regulated Water subindustry, Jiangsu Jiangnan Water 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.
Jiangsu Jiangnan Water Co Price-to-Graham-Number vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Jiangsu Jiangnan Water Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Jiangsu Jiangnan Water 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.
Jiangsu Jiangnan Water Co (SHSE:601199) has a Graham Number of ¥6.31 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Jiangsu Jiangnan Water Co and its competitors. According to the industry distribution chart, Jiangsu Jiangnan Water Co ranks #192 out of 407 companies in the Utilities - Regulated industry, placing it in the top 47.2%.
Is Jiangsu Jiangnan Water Co's Graham Number too high?
Jiangsu Jiangnan Water Co's current Graham Number is ¥6.31. Based on the distribution chart, Jiangsu Jiangnan Water Co ranks #192 out of 407 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Jiangsu Jiangnan Water Co has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Jiangsu Jiangnan Water Co's Graham Number compare to AWK and WTRG?
According to the Utilities - Regulated industry distribution chart, Jiangsu Jiangnan Water Co ranks #192 out of 407 companies for Graham Number. This puts Jiangsu Jiangnan Water Co in the upper half of its industry. The industry median Graham Number is 1.15. 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 an Utilities - Regulated company?
The median Graham Number among Utilities - Regulated companies is 1.15, based on 407 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 Jiangsu Jiangnan Water Co and its competitors. For the Utilities - Regulated industry, the median Graham Number is 1.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Jiangsu Jiangnan Water Co's current Graham Number is ¥6.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jiangsu Jiangnan Water Co stock overvalued right now?
Based on GuruFocus' analysis, Jiangsu Jiangnan Water Co (SHSE:601199) is currently considered Modestly Overvalued. The stock's GF Value™ is ¥5.67, compared to a current price of ¥6.79 — trading 19.8% above its estimated fair value. The current Graham Number is ¥6.31. Jiangsu Jiangnan Water Co's overall GF Score™ is 72/100 with 12 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 Jiangsu Jiangnan Water Co (SHSE:601199), the current Graham Number is ¥6.31 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 Jiangsu Jiangnan Water Co (SHSE:601199) Overvalued in 2026?
Based on GuruFocus' analysis, Jiangsu Jiangnan Water Co stock appears to be overvalued.
The current stock price of ¥6.79 is trading 19.8% above its estimated GF Value™ of ¥5.67.
GuruFocus considers Jiangsu Jiangnan Water Co to be Modestly Overvalued.
Key valuation signals for SHSE:601199:
Graham Number: ¥6.31
GF Value™: ¥5.67 vs. price of ¥6.79 (19.8% above fair value)
No single metric tells the full story. See the SHSE:601199 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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