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Mayer Steel PipeTPE:2020 -0.47%74 Graham Number is NT$29.38 as of Mar. 2026, which is 100% below its 10-year median of 0.76. GuruFocus rates TPE:2020 with a GF Score™ of 74/100 and a GF Value™ of NT$21.28 (Fairly Valued). The stock has 5 warning signs investors should review. Among 426 Steel companies, Mayer Steel Pipe ranks better than 63.62% 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 (2026-07-31), the stock price of Mayer Steel Pipe is NT$21.10. Mayer Steel Pipe's graham number for the quarter that ended in Mar. 2026 was NT$29.38. Therefore, Mayer Steel Pipe's Price to Graham Number ratio for today is 0.72.
The historical rank and industry rank for Mayer Steel Pipe's Graham Number or its related term are showing as below:
TPE:2020'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.59 Med: 0.76 Max: 1.3
Current: 0.72
During the past 13 years, the highest Price to Graham Number ratio of Mayer Steel Pipe was 1.30. The lowest was 0.59. And the median was 0.76.
TPE:2020's Price-to-Graham-Number is ranked better than 63.62% of 426
companies
in the Steel industry
Industry Median: 0.93
vs TPE:2020: 0.72
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Mayer Steel Pipe (TPE:2020) 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.
Mayer Steel Pipe's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
21.10
/
29.38
=
0.72
* 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.
Mayer Steel Pipe Graham Number Related Terms
Mayer Steel Pipe Graham Number Historical Data
* Premium members only.
The historical data trend for Mayer Steel Pipe'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.
TPE:2020 vs NUE, STLD, RS: Graham Number Comparison
For the Steel subindustry, Mayer Steel Pipe'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.
Mayer Steel Pipe Price-to-Graham-Number vs Steel Industry
For the Steel industry and Basic Materials sector, Mayer Steel Pipe's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Mayer Steel Pipe'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.
Mayer Steel Pipe (TPE:2020) has a Graham Number of NT$29.38 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Mayer Steel Pipe and its competitors. This is 3766% above median its historical median of 0.76. Over the past decade, Mayer Steel Pipe's Graham Number has ranged from 0.59 to 1.30. According to the industry distribution chart, Mayer Steel Pipe ranks #155 out of 426 companies in the Steel industry, placing it in the top 36.4%.
Is Mayer Steel Pipe's Graham Number too high?
Mayer Steel Pipe's current Graham Number of NT$29.38 is 3766% above median its 10-year median of 0.76. Over the past 10 years, this metric has ranged from a low of 0.59 to a high of 1.30. Based on the distribution chart, Mayer Steel Pipe ranks #155 out of 426 companies in the Steel industry, which is above the industry midpoint. Overall, Mayer Steel Pipe has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mayer Steel Pipe's Graham Number compare to NUE and STLD?
According to the Steel industry distribution chart, Mayer Steel Pipe ranks #155 out of 426 companies for Graham Number. This puts Mayer Steel Pipe in the upper half of its industry. The industry median Graham Number is 0.93. Historically, Mayer Steel Pipe's own Graham Number has ranged from 0.59 to 1.30 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 Steel company?
The median Graham Number among Steel companies is 0.93, based on 426 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 Mayer Steel Pipe and its competitors. For the Steel industry, the median Graham Number is 0.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mayer Steel Pipe's current Graham Number is NT$29.38, which is 3766% above median its own 10-year median of 0.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mayer Steel Pipe stock overvalued right now?
Based on GuruFocus' analysis, Mayer Steel Pipe (TPE:2020) is currently considered Fairly Valued. The stock's GF Value™ is NT$21.28, compared to a current price of NT$21.10 — trading 0.8% below its estimated fair value. The current Graham Number is NT$29.38, which is 3766% above median its 10-year median of 0.76. Mayer Steel Pipe's overall GF Score™ is 74/100 with 5 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 Mayer Steel Pipe (TPE:2020), the current Graham Number is NT$29.38 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 Mayer Steel Pipe (TPE:2020) Overvalued in 2026?
Based on GuruFocus' analysis, Mayer Steel Pipe stock appears to be undervalued.
The current stock price of NT$21.10 is trading 0.8% below its estimated GF Value™ of NT$21.28.
GuruFocus considers Mayer Steel Pipe to be Fairly Valued.
Key valuation signals for TPE:2020:
Graham Number: NT$29.38 (3766% above median its 10-year median of 0.76)
GF Value™: NT$21.28 vs. price of NT$21.10 (0.8% below fair value)
No single metric tells the full story. See the TPE:2020 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mayer Steel Pipe Corp operates as a steel pipe manufacturer in Taiwan. The primary business of the company and its entities is engaged in the production and sales of black steel pipes, galvanized steel pipes and stainless-steel coils for pipes. The company's reportable segments are the Steel Segment, Real Estate Investment Segment, Investment Segment, and Hotel Services Segment. The majority of revenue is derived from the Steel department, which focuses on the production and sales of black steel pipes, zinc-coated steel pipes, and stainless-steel coils for Pipes. Geographically it generates maximum revenue from Taiwan and the rest from Vietnam, Thailand, and other regions.
74GF Score
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