Toyota MotorTOYOF +1.27%76 Graham Number is $26.91 as of Mar. 2026, which is 3857% above its 10-year median of 0.68. GuruFocus rates TOYOF with a GF Score™ of 76/100 and a GF Value™ of $20.51 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 986 Vehicles & Parts companies, Toyota Motor ranks better than 74.54% 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 (2026-07-04), the stock price of Toyota Motor is $17.20. Toyota Motor's graham number for the quarter that ended in Mar. 2026 was $26.91. Therefore, Toyota Motor's Price to Graham Number ratio for today is 0.64.
The historical rank and industry rank for Toyota Motor's Graham Number or its related term are showing as below:
TOYOF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.61 Med: 0.68 Max: 0.87
Current: 0.67
During the past 13 years, the highest Price to Graham Number ratio of Toyota Motor was 0.87. The lowest was 0.61. And the median was 0.68.
TOYOF's Price-to-Graham-Number is ranked better than 74.54% of 986
companies
in the Vehicles & Parts industry
Industry Median: 1.19
vs TOYOF: 0.67
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Toyota Motor (OTCPK:TOYOF) 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.
Toyota Motor's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
17.20
/
26.91
=
0.64
* 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.
Toyota Motor Graham Number Related Terms
Toyota Motor Graham Number Historical Data
* Premium members only.
The historical data trend for Toyota Motor'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.
For the Auto Manufacturers subindustry, Toyota Motor'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.
Toyota Motor Price-to-Graham-Number vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Toyota Motor's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Toyota Motor'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.
Toyota Motor (TOYOF) has a Graham Number of $26.91 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Toyota Motor and its competitors. This is 3857% above median its historical median of 0.68. Over the past decade, Toyota Motor's Graham Number has ranged from 0.61 to 0.87. According to the industry distribution chart, Toyota Motor ranks #251 out of 986 companies in the Vehicles & Parts industry, placing it in the top 25.5%.
Is Toyota Motor's Graham Number too high?
Toyota Motor's current Graham Number of $26.91 is 3857% above median its 10-year median of 0.68. Over the past 10 years, this metric has ranged from a low of 0.61 to a high of 0.87. The Vehicles & Parts industry median Graham Number is 1.19. Toyota Motor's value of $26.91 is 2161.3% above this industry median. Based on the distribution chart, Toyota Motor ranks #251 out of 986 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Toyota Motor has a GF Score™ of 76/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Toyota Motor's Graham Number compare to TSLA and GM?
According to the Vehicles & Parts industry distribution chart, Toyota Motor ranks #251 out of 986 companies for Graham Number. This puts Toyota Motor in the upper half of its industry. The industry median Graham Number is 1.19. Toyota Motor's value of $26.91 is 2161.3% above this benchmark. Historically, Toyota Motor's own Graham Number has ranged from 0.61 to 0.87 over the past decade. While the company's 10-year median is 0.68 vs. the industry median of 1.19, Toyota Motor 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 Vehicles & Parts company?
The median Graham Number among Vehicles & Parts companies is 1.19, based on 986 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. Toyota Motor's current Graham Number of $26.91 is 2161.3% 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 Toyota Motor and its competitors. For the Vehicles & Parts industry, the median Graham Number is 1.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Toyota Motor's current Graham Number is $26.91, which is 3857% above median its own 10-year median of 0.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toyota Motor stock overvalued right now?
Based on GuruFocus' analysis, Toyota Motor (TOYOF) is currently considered Modestly Undervalued. The stock's GF Value™ is $20.51, compared to a current price of $17.20 — trading 16.1% below its estimated fair value. The current Graham Number is $26.91, which is 3857% above median its 10-year median of 0.68 and 2161.3% above the Vehicles & Parts industry median of 1.19. Toyota Motor's overall GF Score™ is 76/100 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 Toyota Motor (TOYOF), the current Graham Number is $26.91 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 Toyota Motor (TOYOF) Overvalued in 2026?
Based on GuruFocus' analysis, Toyota Motor stock appears to be undervalued.
The current stock price of $17.20 is trading 16.1% below its estimated GF Value™ of $20.51.
GuruFocus considers Toyota Motor to be Modestly Undervalued.
Key valuation signals for TOYOF:
Graham Number: $26.91 (3857% above median its 10-year median of 0.68)
GF Value™: $20.51 vs. price of $17.20 (16.1% below fair value)
Industry Position: 2161.3% above the Vehicles & Parts median (#251 of 986)
No single metric tells the full story. See the TOYOF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 1937, Toyota is one of the world's largest automakers, with 11.3 million units sold at retail in fiscal 2026, including 10.5 million across the Toyota and Lexus brands. Brands include Toyota, Lexus, Daihatsu, and truck maker Hino; market share in Japan is about 50% excluding mini-vehicles, while US share is around 14%. The firm also owns stakes in Denso, a parts supplier, about 20% of Subaru, and holds investments in many other firms, including shares of Uber Technologies, Joby Aviation, Aurora Innovation, Isuzu Motors, and about 5% in each of Mazda and Suzuki. Fiscal 2026 sales excluding financial services were JPY 46.1 trillion. Toyota also has a financing arm and manufactures homes and boats.
76GF Score
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