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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.
As of today (2026-08-06), the stock price of ZEAL Network SE is €43.60. ZEAL Network SE's graham number for the quarter that ended in Mar. 2026 was €N/A. Therefore, ZEAL Network SE's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for ZEAL Network SE's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of ZEAL Network SE was 22.81. The lowest was 0.55. And the median was 2.22.
STU:TIM's Price-to-Graham-Number is not ranked *
in the Travel & Leisure industry.
Industry Median: 1.24 * 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.
ZEAL Network SE (STU:TIM) 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.
ZEAL Network SE's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
43.60
/
N/A
=
N/A
* 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.
ZEAL Network SE Graham Number Related Terms
ZEAL Network SE Graham Number Historical Data
* Premium members only.
The historical data trend for ZEAL Network SE's Graham Number can be seen below:
* 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.
STU:TIM vs FLUT, DKNG, SGHC: Graham Number Comparison
For the Gambling subindustry, ZEAL Network SE'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.
ZEAL Network SE Price-to-Graham-Number vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, ZEAL Network SE's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where ZEAL Network SE'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.
ZEAL Network SE (STU:TIM) has a Graham Number of €N/A as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on ZEAL Network SE and its competitors. Over the past decade, ZEAL Network SE's Graham Number has ranged from 0.55 to 22.81. According to the industry distribution chart, ZEAL Network SE ranks #999999 out of 495 companies in the Travel & Leisure industry.
Is ZEAL Network SE's Graham Number too high?
ZEAL Network SE's current Graham Number is €N/A. Over the past 10 years, this metric has ranged from a low of 0.55 to a high of 22.81. Based on the distribution chart, ZEAL Network SE ranks #999999 out of 495 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, ZEAL Network SE has a GF Score™ of 87/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ZEAL Network SE's Graham Number compare to FLUT and DKNG?
According to the Travel & Leisure industry distribution chart, ZEAL Network SE ranks #999999 out of 495 companies for Graham Number. This places ZEAL Network SE in the lower half of its industry. The industry median Graham Number is 1.24. Historically, ZEAL Network SE's own Graham Number has ranged from 0.55 to 22.81 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 Travel & Leisure company?
The median Graham Number among Travel & Leisure companies is 1.24, based on 495 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 ZEAL Network SE and its competitors. For the Travel & Leisure industry, the median Graham Number is 1.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ZEAL Network SE's current Graham Number is €N/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ZEAL Network SE stock overvalued right now?
Based on GuruFocus' analysis, ZEAL Network SE (STU:TIM) is currently considered Significantly Undervalued. The stock's GF Value™ is €68.09, compared to a current price of €43.60 — trading 36% below its estimated fair value. The current Graham Number is €N/A. ZEAL Network SE's overall GF Score™ is 87/100 with 2 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 ZEAL Network SE (STU:TIM), the current Graham Number is €N/A 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 ZEAL Network SE (STU:TIM) Overvalued in 2026?
Based on GuruFocus' analysis, ZEAL Network SE stock appears to be undervalued.
The current stock price of €43.60 is trading 36% below its estimated GF Value™ of €68.09.
GuruFocus considers ZEAL Network SE to be Significantly Undervalued.
Key valuation signals for STU:TIM:
Graham Number: €N/A
GF Value™: €68.09 vs. price of €43.60 (36% below fair value)
No single metric tells the full story. See the STU:TIM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ZEAL Network SE is an e-commerce group of companies company specializing in the area of online lottery. The company offers consumer-facing lottery-based games as well as business-to-business solutions. The operating business segments are Germany and Other. The ZEAL group now has more than one million active customers. ZEAL allows the participation in state-licensed lotteries via the LOTTO24 and Tipp24 brands and also offers its own lottery products. ZEAL operates under its owns brands namely ZEAL Instant Games, ZEAL Ventures and ZEAL Iberia.
87GF Score
Get the complete analysis for STU:TIM
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