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Technology OneTHNOF +2.95%97 Graham Number is $2.14 as of Mar. 2026, which is 79% below its 10-year median of 10.43. GuruFocus rates THNOF with a GF Score™ of 97/100 and a GF Value™ of $22.46 (Fairly Valued). The stock has 1 warning sign investors should review. Among 1,478 Software companies, Technology One ranks worse than 94.52% 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.
As of today (2026-07-18), the stock price of Technology One is $22.00. Technology One's graham number for the quarter that ended in Mar. 2026 was $2.14. Therefore, Technology One's Price to Graham Number ratio for today is 10.28.
The historical rank and industry rank for Technology One's Graham Number or its related term are showing as below:
THNOF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 4.5 Med: 10.43 Max: 19.04
Current: 9.57
During the past 13 years, the highest Price to Graham Number ratio of Technology One was 19.04. The lowest was 4.50. And the median was 10.43.
THNOF's Price-to-Graham-Number is ranked worse than 94.52% of 1478
companies
in the Software industry
Industry Median: 1.87
vs THNOF: 9.57
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Technology One (OTCPK:THNOF) 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.
Technology One's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
22.00
/
2.14
=
10.28
* 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.
Technology One Graham Number Related Terms
Technology One Graham Number Historical Data
* Premium members only.
The historical data trend for Technology One'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.
THNOF vs UBER, SHOP, CRM: Graham Number Comparison
For the Software - Application subindustry, Technology One'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.
Technology One Price-to-Graham-Number vs Software Industry
For the Software industry and Technology sector, Technology One's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Technology One'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.
Technology One (THNOF) has a Graham Number of $2.14 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Technology One and its competitors. This is 79% below median its historical median of 10.43. Over the past decade, Technology One's Graham Number has ranged from 4.50 to 19.04. According to the industry distribution chart, Technology One ranks #1397 out of 1478 companies in the Software industry, placing it in the top 94.5%.
Is Technology One's Graham Number too high?
Technology One's current Graham Number of $2.14 is 79% below median its 10-year median of 10.43. Over the past 10 years, this metric has ranged from a low of 4.50 to a high of 19.04. The Software industry median Graham Number is 1.87. Technology One's value of $2.14 is 14.4% above this industry median. Based on the distribution chart, Technology One ranks #1397 out of 1478 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Technology One has a GF Score™ of 97/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Technology One's Graham Number compare to UBER and SHOP?
According to the Software industry distribution chart, Technology One ranks #1397 out of 1478 companies for Graham Number. This places Technology One in the lower half of its industry. The industry median Graham Number is 1.87. Technology One's value of $2.14 is 14.4% above this benchmark. Historically, Technology One's own Graham Number has ranged from 4.50 to 19.04 over the past decade. While the company's 10-year median is 10.43 vs. the industry median of 1.87, Technology One has consistently been above 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 Software company?
The median Graham Number among Software companies is 1.87, based on 1,478 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. Technology One's current Graham Number of $2.14 is 14.4% above 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 Technology One and its competitors. For the Software industry, the median Graham Number is 1.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Technology One's current Graham Number is $2.14, which is 79% below median its own 10-year median of 10.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Technology One stock overvalued right now?
Based on GuruFocus' analysis, Technology One (THNOF) is currently considered Fairly Valued. The stock's GF Value™ is $22.46, compared to a current price of $22.00 — trading 2% below its estimated fair value. The current Graham Number is $2.14, which is 79% below median its 10-year median of 10.43 and 14.4% above the Software industry median of 1.87. Technology One's overall GF Score™ is 97/100 with 1 warning sign 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 Technology One (THNOF), the current Graham Number is $2.14 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 Technology One (THNOF) Overvalued in 2026?
Based on GuruFocus' analysis, Technology One stock appears to be undervalued.
The current stock price of $22.00 is trading 2% below its estimated GF Value™ of $22.46.
GuruFocus considers Technology One to be Fairly Valued.
Key valuation signals for THNOF:
Graham Number: $2.14 (79% below median its 10-year median of 10.43)
GF Value™: $22.46 vs. price of $22.00 (2% below fair value)
Industry Position: 14.4% above the Software median (#1397 of 1478)
No single metric tells the full story. See the THNOF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Technology One is a technology company providing enterprise resource planning software, primarily to governmental organizations, education institutions, and healthcare organizations in Australia, New Zealand, and the United Kingdom. Over the past three decades, Technology One has successfully carved out its niche, boasting dominant market shares in some of its key verticals, world-leading annual customer retention rates of over 99%, and a consistently growing number of products used per customer.
97GF Score
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