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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 Beijing Enterprises Holdings's Graham Number or its related term are showing as below:
STU:BJEB'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.29 Med: 0.41 Max: 0.73
Current: 0.4
During the past 13 years, the highest Price to Graham Number ratio of Beijing Enterprises Holdings was 0.73. The lowest was 0.29. And the median was 0.41.
STU:BJEB's Price-to-Graham-Number is ranked better than 85.75% of 365
companies
in the Conglomerates industry
Industry Median: 0.89
vs STU:BJEB: 0.40
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Beijing Enterprises Holdings (STU:BJEB) 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.
Beijing Enterprises Holdings's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
3.42
/
8.53
=
0.40
* 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.
Beijing Enterprises Holdings Graham Number Related Terms
Beijing Enterprises Holdings 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 Conglomerates subindustry, Beijing Enterprises Holdings'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.
Beijing Enterprises Holdings Price-to-Graham-Number vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Beijing Enterprises Holdings's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Beijing Enterprises Holdings'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.
Beijing Enterprises Holdings (STU:BJEB) has a Graham Number of €8.22 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Beijing Enterprises Holdings and its competitors. According to the industry distribution chart, Beijing Enterprises Holdings ranks #52 out of 365 companies in the Conglomerates industry, placing it in the top 14.2%.
Is Beijing Enterprises Holdings' Graham Number too high?
Beijing Enterprises Holdings' current Graham Number is €8.22. Based on the distribution chart, Beijing Enterprises Holdings ranks #52 out of 365 companies in the Conglomerates industry, which is in the top quartile — a strong position relative to peers. Overall, Beijing Enterprises Holdings has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Beijing Enterprises Holdings' Graham Number compare to MMM and HON?
According to the Conglomerates industry distribution chart, Beijing Enterprises Holdings ranks #52 out of 365 companies for Graham Number. This places Beijing Enterprises Holdings in the top 14% of its industry — outperforming the majority of peers. The industry median Graham Number is 0.89. 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 Conglomerates company?
The median Graham Number among Conglomerates companies is 0.89, based on 365 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 Beijing Enterprises Holdings and its competitors. For the Conglomerates industry, the median Graham Number is 0.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Beijing Enterprises Holdings's current Graham Number is €8.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Beijing Enterprises Holdings stock overvalued right now?
Based on GuruFocus' analysis, Beijing Enterprises Holdings (STU:BJEB) is currently considered Significantly Overvalued. The stock's GF Value™ is €2.57, compared to a current price of €3.42 — trading 33.1% above its estimated fair value. The current Graham Number is €8.22. Beijing Enterprises Holdings' overall GF Score™ is 67/100 with 5 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 Beijing Enterprises Holdings (STU:BJEB), the current Graham Number is €8.22 as of Dec. 2025. 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 Beijing Enterprises Holdings (STU:BJEB) Overvalued in 2026?
Based on GuruFocus' analysis, Beijing Enterprises Holdings stock appears to be overvalued.
The current stock price of €3.42 is trading 33.1% above its estimated GF Value™ of €2.57.
GuruFocus considers Beijing Enterprises Holdings to be Significantly Overvalued.
Key valuation signals for STU:BJEB:
Graham Number: €8.22
GF Value™: €2.57 vs. price of €3.42 (33.1% above fair value)
No single metric tells the full story. See the STU:BJEB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Beijing Enterprises Holdings Ltd is an investment holding company. Its reportable operating segments are Gas operation segment engages in the distribution and sale of piped natural gas and gas-related equipment, the provision of natural gas transmission; Water operation segment engages in the construction of sewage and water treatment plants and other infrastructural facilities; Environmental operation segment comprises the provision of waste incineration plant construction and waste treatment services; Brewery operation segment produces, distributes and sells brewery products; Others segment comprises the provision of consultation services, property investment and corporate income of which majority of revenue comes from Gas operation. Geographically revenue comes from Chinese Mainland.
67GF Score
Get the complete analysis for STU:BJEB
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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