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Tongcheng Travel HoldingsTNGCF 86 Graham Number is $1.43 as of Mar. 2026, which is 46% below its 10-year median of 2.64. GuruFocus rates TNGCF with a GF Score™ of 86/100 and a GF Value™ of $5.52. The stock has 3 warning signs investors should review. Among 492 Travel & Leisure companies, Tongcheng Travel Holdings ranks better than 54.27% 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.
The historical rank and industry rank for Tongcheng Travel Holdings's Graham Number or its related term are showing as below:
TNGCF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.15 Med: 2.64 Max: 10.2
Current: 1.15
During the past 11 years, the highest Price to Graham Number ratio of Tongcheng Travel Holdings was 10.20. The lowest was 1.15. And the median was 2.64.
TNGCF's Price-to-Graham-Number is ranked better than 54.27% of 492
companies
in the Travel & Leisure industry
Industry Median: 1.24
vs TNGCF: 1.15
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Tongcheng Travel Holdings (OTCPK:TNGCF) 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.
Tongcheng Travel Holdings's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
2.80
/
1.43
=
1.96
* 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.
Tongcheng Travel Holdings Graham Number Related Terms
Tongcheng Travel 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.
TNGCF vs BKNG, ABNB, RCL: Graham Number Comparison
For the Travel Services subindustry, Tongcheng Travel 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.
Tongcheng Travel Holdings Price-to-Graham-Number vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Tongcheng Travel Holdings's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Tongcheng Travel 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.
Tongcheng Travel Holdings (TNGCF) has a Graham Number of $1.43 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Tongcheng Travel Holdings and its competitors. This is 46% below median its historical median of 2.64. Over the past decade, Tongcheng Travel Holdings' Graham Number has ranged from 1.15 to 10.20. According to the industry distribution chart, Tongcheng Travel Holdings ranks #225 out of 492 companies in the Travel & Leisure industry, placing it in the top 45.7%.
Is Tongcheng Travel Holdings' Graham Number too high?
Tongcheng Travel Holdings' current Graham Number of $1.43 is 46% below median its 10-year median of 2.64. Over the past 10 years, this metric has ranged from a low of 1.15 to a high of 10.20. The Travel & Leisure industry median Graham Number is 1.24. Tongcheng Travel Holdings' value of $1.43 is 15.3% above this industry median. Based on the distribution chart, Tongcheng Travel Holdings ranks #225 out of 492 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Tongcheng Travel Holdings has a GF Score™ of 86/100, reflecting its overall financial health beyond just this single metric.
How does Tongcheng Travel Holdings' Graham Number compare to BKNG and ABNB?
According to the Travel & Leisure industry distribution chart, Tongcheng Travel Holdings ranks #225 out of 492 companies for Graham Number. This puts Tongcheng Travel Holdings in the upper half of its industry. The industry median Graham Number is 1.24. Tongcheng Travel Holdings' value of $1.43 is 15.3% above this benchmark. Historically, Tongcheng Travel Holdings' own Graham Number has ranged from 1.15 to 10.20 over the past decade. While the company's 10-year median is 2.64 vs. the industry median of 1.24, Tongcheng Travel Holdings 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 Travel & Leisure company?
The median Graham Number among Travel & Leisure companies is 1.24, based on 492 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. Tongcheng Travel Holdings's current Graham Number of $1.43 is 15.3% 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 Tongcheng Travel Holdings 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. Tongcheng Travel Holdings's current Graham Number is $1.43, which is 46% below median its own 10-year median of 2.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tongcheng Travel Holdings stock overvalued right now?
Tongcheng Travel Holdings (TNGCF) has a current Graham Number of $1.43. The stock's GF Value™ is $5.52, compared to a current price of $2.80 — trading 49.3% below its estimated fair value. The current Graham Number is $1.43, which is 46% below median its 10-year median of 2.64 and 15.3% above the Travel & Leisure industry median of 1.24. Tongcheng Travel Holdings' overall GF Score™ is 86/100 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 Tongcheng Travel Holdings (TNGCF), the current Graham Number is $1.43 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 Tongcheng Travel Holdings (TNGCF) Overvalued in 2026?
Based on GuruFocus' analysis, Tongcheng Travel Holdings stock appears to be undervalued.
The current stock price of $2.80 is trading 49.3% below its estimated GF Value™ of $5.52.
Key valuation signals for TNGCF:
Graham Number: $1.43 (46% below median its 10-year median of 2.64)
GF Value™: $5.52 vs. price of $2.80 (49.3% below fair value)
Industry Position: 15.3% above the Travel & Leisure median (#225 of 492)
No single metric tells the full story. See the TNGCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tongcheng Travel is an online travel agency platform that provides booking services for hotel and ticketing in China. It generated 84% of its revenue from accommodation reservations and transportation ticketing in 2023. The rest came from advertising and in-house software sales. The platform provides both online and offline services in the form of call centers and travel kiosks. Tongcheng Travel was formed from the merger of Tongcheng Network and eLong in 2018. It is currently 21.38% owned by Tencent and 20.86% by Trip.com. Tongcheng targets lower-tier cities and as of 2021, 86.7% of its users are from non-first-tier cities in China and 61.7% of new paying users on Weixin were from Tier 3 or below cities in China. The company competes with Trip.com, Alibaba's Fliggy, and Meituan.
86GF Score
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