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Test Rite International CoTPE:2908 +0.23%63 Graham Number is NT$8.38 as of Mar. 2026, which is 100% below its 10-year median of 1.72. GuruFocus rates TPE:2908 with a GF Score™ of 63/100 and a GF Value™ of NT$19.05 (Modestly Overvalued). The stock has 11 warning signs investors should review. Among 764 Retail - Cyclical companies, Test Rite International Co ranks worse than 78.01% 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 Test Rite International Co's Graham Number or its related term are showing as below:
TPE:2908'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.91 Med: 1.72 Max: 3.4
Current: 2.61
During the past 13 years, the highest Price to Graham Number ratio of Test Rite International Co was 3.40. The lowest was 0.91. And the median was 1.72.
TPE:2908's Price-to-Graham-Number is ranked worse than 78.01% of 764
companies
in the Retail - Cyclical industry
Industry Median: 1.25
vs TPE:2908: 2.61
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Test Rite International Co (TPE:2908) 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.
Test Rite International Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
21.85
/
8.38
=
2.61
* 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.
Test Rite International Co Graham Number Related Terms
Test Rite International Co 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.
TPE:2908 vs HD, LOW, FND: Graham Number Comparison
For the Home Improvement Retail subindustry, Test Rite International Co'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.
Test Rite International Co Price-to-Graham-Number vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Test Rite International Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Test Rite International Co'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.
Test Rite International Co (TPE:2908) has a Graham Number of NT$8.38 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Test Rite International Co and its competitors. This is 387% above median its historical median of 1.72. Over the past decade, Test Rite International Co's Graham Number has ranged from 0.91 to 3.40. According to the industry distribution chart, Test Rite International Co ranks #596 out of 764 companies in the Retail - Cyclical industry, placing it in the top 78%.
Is Test Rite International Co's Graham Number too high?
Test Rite International Co's current Graham Number of NT$8.38 is 387% above median its 10-year median of 1.72. Over the past 10 years, this metric has ranged from a low of 0.91 to a high of 3.40. Based on the distribution chart, Test Rite International Co ranks #596 out of 764 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Test Rite International Co has a GF Score™ of 63/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Test Rite International Co's Graham Number compare to HD and LOW?
According to the Retail - Cyclical industry distribution chart, Test Rite International Co ranks #596 out of 764 companies for Graham Number. This places Test Rite International Co in the lower half of its industry. The industry median Graham Number is 1.25. Historically, Test Rite International Co's own Graham Number has ranged from 0.91 to 3.40 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 Retail - Cyclical company?
The median Graham Number among Retail - Cyclical companies is 1.25, based on 764 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 Test Rite International Co and its competitors. For the Retail - Cyclical industry, the median Graham Number is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Test Rite International Co's current Graham Number is NT$8.38, which is 387% above median its own 10-year median of 1.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Test Rite International Co stock overvalued right now?
Based on GuruFocus' analysis, Test Rite International Co (TPE:2908) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$19.05, compared to a current price of NT$21.85 — trading 14.7% above its estimated fair value. The current Graham Number is NT$8.38, which is 387% above median its 10-year median of 1.72. Test Rite International Co's overall GF Score™ is 63/100 with 11 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 Test Rite International Co (TPE:2908), the current Graham Number is NT$8.38 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 Test Rite International Co (TPE:2908) Overvalued in 2026?
Based on GuruFocus' analysis, Test Rite International Co stock appears to be overvalued.
The current stock price of NT$21.85 is trading 14.7% above its estimated GF Value™ of NT$19.05.
GuruFocus considers Test Rite International Co to be Modestly Overvalued.
Key valuation signals for TPE:2908:
Graham Number: NT$8.38 (387% above median its 10-year median of 1.72)
GF Value™: NT$19.05 vs. price of NT$21.85 (14.7% above fair value)
No single metric tells the full story. See the TPE:2908 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Test Rite International Co Ltd is a Taiwan-based company that is principally engaged in the trading business and retail business. It mainly imports and exports hand tools, auto parts, machinery, furniture, and various home appliances. Test-Rite's marketplaces are located in the United States of America, Canada, Great Britain, France, Germany, Australia, etc.
63GF Score
Get the complete analysis for TPE:2908
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