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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 Japan Petroleum Exploration Co's Graham Number or its related term are showing as below:
STU:JP9'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.21 Med: 0.39 Max: 0.9
Current: 0.73
During the past 13 years, the highest Price to Graham Number ratio of Japan Petroleum Exploration Co was 0.90. The lowest was 0.21. And the median was 0.39.
STU:JP9's Price-to-Graham-Number is ranked better than 71.79% of 631
companies
in the Oil & Gas industry
Industry Median: 1.11
vs STU:JP9: 0.73
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Japan Petroleum Exploration Co (STU:JP9) 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.
Japan Petroleum Exploration Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
10.60
/
14.98
=
0.71
* 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.
Japan Petroleum Exploration Co Graham Number Related Terms
Japan Petroleum Exploration 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.
Japan Petroleum Exploration Co Graham Number Chart
STU:JP9 vs COP, EOG, OXY: Graham Number Comparison
For the Oil & Gas E&P subindustry, Japan Petroleum Exploration 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.
Japan Petroleum Exploration Co Price-to-Graham-Number vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Japan Petroleum Exploration Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Japan Petroleum Exploration 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.
Japan Petroleum Exploration Co (STU:JP9) has a Graham Number of €17.30 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Japan Petroleum Exploration Co and its competitors. According to the industry distribution chart, Japan Petroleum Exploration Co ranks #178 out of 631 companies in the Oil & Gas industry, placing it in the top 28.2%.
Is Japan Petroleum Exploration Co's Graham Number too high?
Japan Petroleum Exploration Co's current Graham Number is €17.30. Based on the distribution chart, Japan Petroleum Exploration Co ranks #178 out of 631 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Japan Petroleum Exploration Co has a GF Score™ of 30/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Japan Petroleum Exploration Co's Graham Number compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Japan Petroleum Exploration Co ranks #178 out of 631 companies for Graham Number. This puts Japan Petroleum Exploration Co in the upper half of its industry. The industry median Graham Number is 1.11. 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 Oil & Gas company?
The median Graham Number among Oil & Gas companies is 1.11, based on 631 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 Japan Petroleum Exploration Co and its competitors. For the Oil & Gas industry, the median Graham Number is 1.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Japan Petroleum Exploration Co's current Graham Number is €17.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Petroleum Exploration Co stock overvalued right now?
Based on GuruFocus' analysis, Japan Petroleum Exploration Co (STU:JP9) is currently considered Significantly Overvalued. The stock's GF Value™ is €6.31, compared to a current price of €10.60 — trading 68% above its estimated fair value. The current Graham Number is €17.30. Japan Petroleum Exploration Co's overall GF Score™ is 30/100 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 Japan Petroleum Exploration Co (STU:JP9), the current Graham Number is €17.30 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 Japan Petroleum Exploration Co (STU:JP9) Overvalued in 2026?
Based on GuruFocus' analysis, Japan Petroleum Exploration Co stock appears to be overvalued.
The current stock price of €10.60 is trading 68% above its estimated GF Value™ of €6.31.
GuruFocus considers Japan Petroleum Exploration Co to be Significantly Overvalued.
Key valuation signals for STU:JP9:
Graham Number: €17.30
GF Value™: €6.31 vs. price of €10.60 (68% above fair value)
No single metric tells the full story. See the STU:JP9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Japan Petroleum Exploration Co Ltd is a drilling and exploration company that specializes in the production of crude oil and liquefied natural gas. Majority of the company's revenue is derived from oil and gas fields in Japan, with additional production coming from various international positions. Japan Petroleum Exploration serves natural gas to electric power companies, local distribution companies, and various industrial users. It also supplies and sells crude oil to petroleum refiners and trading companies.
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