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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 (2026-08-24), the stock price of Waffer Technology is NT$37.70. Waffer Technology's graham number for the quarter that ended in Jun. 2026 was NT$30.21. Therefore, Waffer Technology's Price to Graham Number ratio for today is 1.25.
The historical rank and industry rank for Waffer Technology's Graham Number or its related term are showing as below:
TPE:6235'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.48 Med: 1.55 Max: 5.36
Current: 1.25
During the past 13 years, the highest Price to Graham Number ratio of Waffer Technology was 5.36. The lowest was 0.48. And the median was 1.55.
TPE:6235's Price-to-Graham-Number is ranked better than 65.67% of 2231
companies
in the Industrial Products industry
Industry Median: 1.74
vs TPE:6235: 1.25
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Waffer Technology (TPE:6235) 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.
Waffer Technology's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
37.70
/
30.21
=
1.25
* 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.
Waffer Technology Graham Number Related Terms
Waffer Technology Graham Number Historical Data
* Premium members only.
The historical data trend for Waffer Technology'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:6235 vs CRS, ATI, MLI: Graham Number Comparison
For the Metal Fabrication subindustry, Waffer Technology'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.
Waffer Technology Price-to-Graham-Number vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Waffer Technology's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Waffer Technology'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.
Waffer Technology (TPE:6235) has a Graham Number of NT$30.21 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Waffer Technology and its competitors. According to the industry distribution chart, Waffer Technology ranks #766 out of 2231 companies in the Industrial Products industry, placing it in the top 34.3%.
Is Waffer Technology's Graham Number too high?
Waffer Technology's current Graham Number is NT$30.21. Based on the distribution chart, Waffer Technology ranks #766 out of 2231 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Waffer Technology has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Waffer Technology's Graham Number compare to CRS and ATI?
According to the Industrial Products industry distribution chart, Waffer Technology ranks #766 out of 2231 companies for Graham Number. This puts Waffer Technology in the upper half of its industry. The industry median Graham Number is 1.74. 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 an Industrial Products company?
The median Graham Number among Industrial Products companies is 1.74, based on 2,231 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 Waffer Technology and its competitors. For the Industrial Products industry, the median Graham Number is 1.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Waffer Technology's current Graham Number is NT$30.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Waffer Technology stock overvalued right now?
Based on GuruFocus' analysis, Waffer Technology (TPE:6235) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$74.33, compared to a current price of NT$37.70 — trading 49.3% below its estimated fair value. The current Graham Number is NT$30.21. Waffer Technology's overall GF Score™ is 78/100 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 Waffer Technology (TPE:6235), the current Graham Number is NT$30.21 as of Jun. 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 Waffer Technology (TPE:6235) Overvalued in 2026?
Based on GuruFocus' analysis, Waffer Technology stock appears to be undervalued.
The current stock price of NT$37.70 is trading 49.3% below its estimated GF Value™ of NT$74.33.
GuruFocus considers Waffer Technology to be Significantly Undervalued.
Key valuation signals for TPE:6235:
Graham Number: NT$30.21
GF Value™: NT$74.33 vs. price of NT$37.70 (49.3% below fair value)
No single metric tells the full story. See the TPE:6235 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Waffer Technology Corp is a Taiwan-based company that engages in the manufacture and sale of magnesium alloy and aluminum alloy die-casting components and products. It is engaged in the provision of a light-metal solution of magnesium and aluminum alloy, mold and tooling research and development, magnesium alloy injection, magnesium die-casting, CNC, and painting and assembly of vertical integration OEM/ODM processing. The company's segment includes Magnesium Aluminum Alloy, and Plastic. The company generates the majority of its revenue from Magnesium Aluminum Alloy, which is engaged in the production and sale of magnesium aluminum alloy molded products.
78GF Score
Get the complete analysis for TPE:6235
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