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What is Scandinavian Tobacco Group AS Graham Number?
Scandinavian Tobacco Group ASSTBGY 68 Graham Number is $0.27 as of Mar. 2026, which is 92% below its 10-year median of 3.27. GuruFocus rates STBGY with a GF Score™ of 68/100 and a GF Value™ of $8.38 (Significantly Undervalued). The stock has 8 warning signs investors should review. Among 30 Tobacco Products companies, Scandinavian Tobacco Group AS ranks worse than 96.67% 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 Scandinavian Tobacco Group AS's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of Scandinavian Tobacco Group AS was 28.43. The lowest was 1.63. And the median was 3.27.
STBGY's Price-to-Graham-Number is not ranked *
in the Tobacco Products industry.
Industry Median: 1.79 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Scandinavian Tobacco Group AS (OTCPK:STBGY) 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.
Scandinavian Tobacco Group AS's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
5.00
/
0.27
=
18.51
* 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.
Scandinavian Tobacco Group AS Graham Number Related Terms
Scandinavian Tobacco Group AS 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 Tobacco subindustry, Scandinavian Tobacco Group AS'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.
Scandinavian Tobacco Group AS Price-to-Graham-Number vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, Scandinavian Tobacco Group AS's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Scandinavian Tobacco Group AS'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.
Scandinavian Tobacco Group AS (STBGY) has a Graham Number of $0.27 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Scandinavian Tobacco Group AS and its competitors. This is 92% below median its historical median of 3.27. Over the past decade, Scandinavian Tobacco Group AS's Graham Number has ranged from 1.63 to 28.43. According to the industry distribution chart, Scandinavian Tobacco Group AS ranks #29 out of 30 companies in the Tobacco Products industry, placing it in the top 96.7%.
Is Scandinavian Tobacco Group AS's Graham Number too high?
Scandinavian Tobacco Group AS's current Graham Number of $0.27 is 92% below median its 10-year median of 3.27. Over the past 10 years, this metric has ranged from a low of 1.63 to a high of 28.43. The Tobacco Products industry median Graham Number is 1.79. Scandinavian Tobacco Group AS's value of $0.27 is 84.9% below this industry median. Based on the distribution chart, Scandinavian Tobacco Group AS ranks #29 out of 30 companies in the Tobacco Products industry, which is in the bottom quartile relative to peers. Overall, Scandinavian Tobacco Group AS has a GF Score™ of 68/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Scandinavian Tobacco Group AS's Graham Number compare to PM and MO?
According to the Tobacco Products industry distribution chart, Scandinavian Tobacco Group AS ranks #29 out of 30 companies for Graham Number. This places Scandinavian Tobacco Group AS in the lower half of its industry. The industry median Graham Number is 1.79. Scandinavian Tobacco Group AS's value of $0.27 is 84.9% below this benchmark. Historically, Scandinavian Tobacco Group AS's own Graham Number has ranged from 1.63 to 28.43 over the past decade. While the company's 10-year median is 3.27 vs. the industry median of 1.79, Scandinavian Tobacco Group AS has consistently been below 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 Tobacco Products company?
The median Graham Number among Tobacco Products companies is 1.79, based on 30 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. Scandinavian Tobacco Group AS's current Graham Number of $0.27 is 84.9% below 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 Scandinavian Tobacco Group AS and its competitors. For the Tobacco Products industry, the median Graham Number is 1.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Scandinavian Tobacco Group AS's current Graham Number is $0.27, which is 92% below median its own 10-year median of 3.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Scandinavian Tobacco Group AS stock overvalued right now?
Based on GuruFocus' analysis, Scandinavian Tobacco Group AS (STBGY) is currently considered Significantly Undervalued. The stock's GF Value™ is $8.38, compared to a current price of $5.00 — trading 40.3% below its estimated fair value. The current Graham Number is $0.27, which is 92% below median its 10-year median of 3.27 and 84.9% below the Tobacco Products industry median of 1.79. Scandinavian Tobacco Group AS's overall GF Score™ is 68/100 with 8 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 Scandinavian Tobacco Group AS (STBGY), the current Graham Number is $0.27 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 Scandinavian Tobacco Group AS (STBGY) Overvalued in 2026?
Based on GuruFocus' analysis, Scandinavian Tobacco Group AS stock appears to be undervalued.
The current stock price of $5.00 is trading 40.3% below its estimated GF Value™ of $8.38.
GuruFocus considers Scandinavian Tobacco Group AS to be Significantly Undervalued.
Key valuation signals for STBGY:
Graham Number: $0.27 (92% below median its 10-year median of 3.27)
GF Value™: $8.38 vs. price of $5.00 (40.3% below fair value)
Industry Position: 84.9% below the Tobacco Products median (#29 of 30)
No single metric tells the full story. See the STBGY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Scandinavian Tobacco Group AS Business Description
Scandinavian Tobacco Group AS offers cigars, pipe tobacco, and accessories in North America, Europe, and Australia. It operates in three segments: North America online and retail, which includes direct to consumer sales of all product categories sold via the online, catalogue and retail channel in North America. North America branded and the Rest of the World, which provides its products to wholesalers and distributors; Europe Branded comprises sale of all product categories to wholesalers, distributors and direct to retail in Germany, Denmark, Sweden, France, Italy, Belgium, the Netherlands, Luxembourg, Spain, Portugal, the UK, and Ireland.
68GF Score
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