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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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 (2026-07-29), the stock price of Taiwan Tea is NT$11.10. Taiwan Tea's graham number for the quarter that ended in Mar. 2026 was NT$N/A. Therefore, Taiwan Tea's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for Taiwan Tea's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of Taiwan Tea was 9.87. The lowest was 0.76. And the median was 0.93.
TPE:2913's Price-to-Graham-Number is not ranked *
in the Consumer Packaged Goods industry.
Industry Median: 1.1 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Taiwan Tea (TPE:2913) 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.
Taiwan Tea's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
11.10
/
N/A
=
N/A
* 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.
Taiwan Tea Graham Number Related Terms
Taiwan Tea Graham Number Historical Data
* Premium members only.
The historical data trend for Taiwan Tea'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:2913 vs ADM, BG, TSN: Graham Number Comparison
For the Farm Products subindustry, Taiwan Tea'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.
Taiwan Tea Price-to-Graham-Number vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Taiwan Tea's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Taiwan Tea'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.
Taiwan Tea (TPE:2913) has a Graham Number of NT$N/A as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Taiwan Tea and its competitors. Over the past decade, Taiwan Tea's Graham Number has ranged from 0.76 to 9.87. According to the industry distribution chart, Taiwan Tea ranks #999999 out of 1384 companies in the Consumer Packaged Goods industry.
Is Taiwan Tea's Graham Number too high?
Taiwan Tea's current Graham Number is NT$N/A. Over the past 10 years, this metric has ranged from a low of 0.76 to a high of 9.87. Based on the distribution chart, Taiwan Tea ranks #999999 out of 1384 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Taiwan Tea has a GF Score™ of 58/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Taiwan Tea's Graham Number compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Taiwan Tea ranks #999999 out of 1384 companies for Graham Number. This places Taiwan Tea in the lower half of its industry. The industry median Graham Number is 1.10. Historically, Taiwan Tea's own Graham Number has ranged from 0.76 to 9.87 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 Consumer Packaged Goods company?
The median Graham Number among Consumer Packaged Goods companies is 1.10, based on 1,384 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 Taiwan Tea and its competitors. For the Consumer Packaged Goods industry, the median Graham Number is 1.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Taiwan Tea's current Graham Number is NT$N/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taiwan Tea stock overvalued right now?
Based on GuruFocus' analysis, Taiwan Tea (TPE:2913) is currently considered Possible Value Trap. The stock's GF Value™ is NT$24.34, compared to a current price of NT$11.10 — trading 54.4% below its estimated fair value. The current Graham Number is NT$N/A. Taiwan Tea's overall GF Score™ is 58/100 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 Taiwan Tea (TPE:2913), the current Graham Number is NT$N/A 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 Taiwan Tea (TPE:2913) Overvalued in 2026?
Based on GuruFocus' analysis, Taiwan Tea stock appears to be undervalued.
The current stock price of NT$11.10 is trading 54.4% below its estimated GF Value™ of NT$24.34.
GuruFocus considers Taiwan Tea to be Possible Value Trap.
Key valuation signals for TPE:2913:
Graham Number: NT$N/A
GF Value™: NT$24.34 vs. price of NT$11.10 (54.4% below fair value)
No single metric tells the full story. See the TPE:2913 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Taiwan Tea Corp is responsible for agriculture, fishery, forestry and animal husbandry. The Company's main business activities include manufacturing and sales of tea and related products. The two reportable segments are Retail and trading segment generate maximum revenue from Taiwan: manufacture and sale of tea and other agricultural products, trading of imported goods including food, alcoholic beverages and other products, and operation of recreational tourism; and Asset segment: management of land assets, including land inspections, land and building leases, contract renewals, and related land sale procedures.
58GF Score
Get the complete analysis for TPE:2913
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