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Santen Pharmaceutical CoSNPHF +4.40%83 Graham Number is $8.58 as of Mar. 2026, which is 338% above its 10-year median of 1.96. GuruFocus rates SNPHF with a GF Score™ of 83/100 and a GF Value™ of $10.23 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 604 Drug Manufacturers companies, Santen Pharmaceutical Co ranks better than 50.33% 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.
The historical rank and industry rank for Santen Pharmaceutical Co's Graham Number or its related term are showing as below:
SNPHF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.18 Med: 1.96 Max: 3.02
Current: 1.52
During the past 13 years, the highest Price to Graham Number ratio of Santen Pharmaceutical Co was 3.02. The lowest was 1.18. And the median was 1.96.
SNPHF's Price-to-Graham-Number is ranked better than 50.33% of 604
companies
in the Drug Manufacturers industry
Industry Median: 1.52
vs SNPHF: 1.52
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Santen Pharmaceutical Co (OTCPK:SNPHF) 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.
Santen Pharmaceutical Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
13.05
/
8.58
=
1.52
* 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.
Santen Pharmaceutical Co Graham Number Related Terms
Santen Pharmaceutical 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.
For the Drug Manufacturers - General subindustry, Santen Pharmaceutical 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.
Santen Pharmaceutical Co Price-to-Graham-Number vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Santen Pharmaceutical Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Santen Pharmaceutical 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.
Santen Pharmaceutical Co (SNPHF) has a Graham Number of $8.58 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Santen Pharmaceutical Co and its competitors. This is 338% above median its historical median of 1.96. Over the past decade, Santen Pharmaceutical Co's Graham Number has ranged from 1.18 to 3.02. According to the industry distribution chart, Santen Pharmaceutical Co ranks #300 out of 604 companies in the Drug Manufacturers industry, placing it in the top 49.7%.
Is Santen Pharmaceutical Co's Graham Number too high?
Santen Pharmaceutical Co's current Graham Number of $8.58 is 338% above median its 10-year median of 1.96. Over the past 10 years, this metric has ranged from a low of 1.18 to a high of 3.02. The Drug Manufacturers industry median Graham Number is 1.52. Santen Pharmaceutical Co's value of $8.58 is 464.5% above this industry median. Based on the distribution chart, Santen Pharmaceutical Co ranks #300 out of 604 companies in the Drug Manufacturers industry, which is above the industry midpoint. Overall, Santen Pharmaceutical Co has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Santen Pharmaceutical Co's Graham Number compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, Santen Pharmaceutical Co ranks #300 out of 604 companies for Graham Number. This puts Santen Pharmaceutical Co in the upper half of its industry. The industry median Graham Number is 1.52. Santen Pharmaceutical Co's value of $8.58 is 464.5% above this benchmark. Historically, Santen Pharmaceutical Co's own Graham Number has ranged from 1.18 to 3.02 over the past decade. While the company's 10-year median is 1.96 vs. the industry median of 1.52, Santen Pharmaceutical Co has consistently been above the industry average. 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 Drug Manufacturers company?
The median Graham Number among Drug Manufacturers companies is 1.52, based on 604 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. Santen Pharmaceutical Co's current Graham Number of $8.58 is 464.5% above the industry median. 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 Santen Pharmaceutical Co and its competitors. For the Drug Manufacturers industry, the median Graham Number is 1.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Santen Pharmaceutical Co's current Graham Number is $8.58, which is 338% above median its own 10-year median of 1.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Santen Pharmaceutical Co stock overvalued right now?
Based on GuruFocus' analysis, Santen Pharmaceutical Co (SNPHF) is currently considered Modestly Overvalued. The stock's GF Value™ is $10.23, compared to a current price of $13.05 — trading 27.6% above its estimated fair value. The current Graham Number is $8.58, which is 338% above median its 10-year median of 1.96 and 464.5% above the Drug Manufacturers industry median of 1.52. Santen Pharmaceutical Co's overall GF Score™ is 83/100 with 6 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 Santen Pharmaceutical Co (SNPHF), the current Graham Number is $8.58 as of Mar. 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 Santen Pharmaceutical Co (SNPHF) Overvalued in 2026?
Based on GuruFocus' analysis, Santen Pharmaceutical Co stock appears to be overvalued.
The current stock price of $13.05 is trading 27.6% above its estimated GF Value™ of $10.23.
GuruFocus considers Santen Pharmaceutical Co to be Modestly Overvalued.
Key valuation signals for SNPHF:
Graham Number: $8.58 (338% above median its 10-year median of 1.96)
GF Value™: $10.23 vs. price of $13.05 (27.6% above fair value)
Industry Position: 464.5% above the Drug Manufacturers median (#300 of 604)
No single metric tells the full story. See the SNPHF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Santen Pharmaceutical Co Ltd is a drug manufacturing company that focuses on ophthalmic products. The company provides a wide range of prescription and over-the-counter eye care products, including treatments for glaucoma, dry eye, and allergies. It also develops surgical and diagnostic devices related to eye care.
83GF Score
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