Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
STC:HDB's Price-to-Graham-Number is ranked worse than 60.61% of 1437
companies
in the Banks industry
Industry Median: 0.81
vs STC:HDB: 0.88
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Ho Chi Minh City Development Joint Stock Commercial Bank (STC:HDB) 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.
Ho Chi Minh City Development Joint Stock Commercial Bank's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
27250.00
/
31,079.14
=
0.88
* 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.
Ho Chi Minh City Development Joint Stock Commercial Bank Graham Number Related Terms
Ho Chi Minh City Development Joint Stock Commercial Bank 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.
Ho Chi Minh City Development Joint Stock Commercial Bank Graham Number Chart
Ho Chi Minh City Development Joint Stock Commercial Bank Annual Data
* 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.
Ho Chi Minh City Development Joint Stock Commercial Bank Price-to-Graham-Number vs Banks Industry
* 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.
Ho Chi Minh City Development Joint Stock Commercial Bank (STC:HDB) has a Graham Number of ₫31,079.14 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Ho Chi Minh City Development Joint Stock Commercial Bank and its competitors. This is 4036152% above median its historical median of 0.77. Over the past decade, Ho Chi Minh City Development Joint Stock Commercial Bank's Graham Number has ranged from 0.43 to 19.18. According to the industry distribution chart, Ho Chi Minh City Development Joint Stock Commercial Bank ranks #871 out of 1437 companies in the Banks industry, placing it in the top 60.6%.
Is Ho Chi Minh City Development Joint Stock Commercial Bank's Graham Number too high?
Ho Chi Minh City Development Joint Stock Commercial Bank's current Graham Number of ₫31,079.14 is 4036152% above median its 10-year median of 0.77. Over the past 10 years, this metric has ranged from a low of 0.43 to a high of 19.18. Based on the distribution chart, Ho Chi Minh City Development Joint Stock Commercial Bank ranks #871 out of 1437 companies in the Banks industry, which is below the industry midpoint. Overall, Ho Chi Minh City Development Joint Stock Commercial Bank has a GF Score™ of 74/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ho Chi Minh City Development Joint Stock Commercial Bank's Graham Number compare to competitors?
According to the Banks industry distribution chart, Ho Chi Minh City Development Joint Stock Commercial Bank ranks #871 out of 1437 companies for Graham Number. This places Ho Chi Minh City Development Joint Stock Commercial Bank in the lower half of its industry. The industry median Graham Number is 0.81. Historically, Ho Chi Minh City Development Joint Stock Commercial Bank's own Graham Number has ranged from 0.43 to 19.18 over the past decade. 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 Banks company?
The median Graham Number among Banks companies is 0.81, based on 1,437 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 Ho Chi Minh City Development Joint Stock Commercial Bank and its competitors. For the Banks industry, the median Graham Number is 0.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ho Chi Minh City Development Joint Stock Commercial Bank's current Graham Number is ₫31,079.14, which is 4036152% above median its own 10-year median of 0.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ho Chi Minh City Development Joint Stock Commercial Bank stock overvalued right now?
Based on GuruFocus' analysis, Ho Chi Minh City Development Joint Stock Commercial Bank (STC:HDB) is currently considered Modestly Overvalued. The stock's GF Value™ is ₫23,859.21, compared to a current price of ₫27,250.00 — trading 14.2% above its estimated fair value. The current Graham Number is ₫31,079.14, which is 4036152% above median its 10-year median of 0.77. Ho Chi Minh City Development Joint Stock Commercial Bank's overall GF Score™ is 74/100 with 3 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 Ho Chi Minh City Development Joint Stock Commercial Bank (STC:HDB), the current Graham Number is ₫31,079.14 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 Ho Chi Minh City Development Joint Stock Commercial Bank (STC:HDB) Overvalued in 2026?
Based on GuruFocus' analysis, Ho Chi Minh City Development Joint Stock Commercial Bank stock appears to be overvalued.
The current stock price of ₫27,250.00 is trading 14.2% above its estimated GF Value™ of ₫23,859.21.
GuruFocus considers Ho Chi Minh City Development Joint Stock Commercial Bank to be Modestly Overvalued.
Key valuation signals for STC:HDB:
Graham Number: ₫31,079.14 (4036152% above median its 10-year median of 0.77)
GF Value™: ₫23,859.21 vs. price of ₫27,250.00 (14.2% above fair value)
No single metric tells the full story. See the STC:HDB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ho Chi Minh City Development Joint Stock Commercial Bank Business Description
Ho Chi Minh City Development Joint Stock Commercial Bank is a Vietnamese commercial bank providing personal and commercial banking services to retail customers, corporations, and investors.
74GF Score
Get the complete analysis for STC:HDB
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
STC:HDB has been successfully added to your 
