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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.
TPE:8341'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.23 Med: 3.09 Max: 4.54
Current: 1.25
During the past 13 years, the highest Price to Graham Number ratio of Sunny Friend Environmental Technology Co was 4.54. The lowest was 1.23. And the median was 3.09.
TPE:8341's Price-to-Graham-Number is ranked better than 56.2% of 137
companies
in the Waste Management industry
Industry Median: 1.39
vs TPE:8341: 1.25
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Sunny Friend Environmental Technology Co (TPE:8341) 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.
Sunny Friend Environmental Technology Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
76.40
/
61.17
=
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.
Sunny Friend Environmental Technology Co Graham Number Related Terms
Sunny Friend Environmental Technology 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.
Sunny Friend Environmental Technology Co Graham Number Chart
Sunny Friend Environmental Technology Co Annual Data
TPE:8341 vs WM, RSG, WCN: Graham Number Comparison
For the Waste Management subindustry, Sunny Friend Environmental Technology 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.
Sunny Friend Environmental Technology Co Price-to-Graham-Number vs Waste Management Industry
For the Waste Management industry and Industrials sector, Sunny Friend Environmental Technology Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Sunny Friend Environmental Technology 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.
Sunny Friend Environmental Technology Co (TPE:8341) has a Graham Number of NT$61.17 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Sunny Friend Environmental Technology Co and its competitors. This is 1880% above median its historical median of 3.09. Over the past decade, Sunny Friend Environmental Technology Co's Graham Number has ranged from 1.23 to 4.54. According to the industry distribution chart, Sunny Friend Environmental Technology Co ranks #60 out of 137 companies in the Waste Management industry, placing it in the top 43.8%.
Is Sunny Friend Environmental Technology Co's Graham Number too high?
Sunny Friend Environmental Technology Co's current Graham Number of NT$61.17 is 1880% above median its 10-year median of 3.09. Over the past 10 years, this metric has ranged from a low of 1.23 to a high of 4.54. Based on the distribution chart, Sunny Friend Environmental Technology Co ranks #60 out of 137 companies in the Waste Management industry, which is above the industry midpoint. Overall, Sunny Friend Environmental Technology Co has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Sunny Friend Environmental Technology Co's Graham Number compare to WM and RSG?
According to the Waste Management industry distribution chart, Sunny Friend Environmental Technology Co ranks #60 out of 137 companies for Graham Number. This puts Sunny Friend Environmental Technology Co in the upper half of its industry. The industry median Graham Number is 1.39. Historically, Sunny Friend Environmental Technology Co's own Graham Number has ranged from 1.23 to 4.54 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 Waste Management company?
The median Graham Number among Waste Management companies is 1.39, based on 137 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 Sunny Friend Environmental Technology Co and its competitors. For the Waste Management industry, the median Graham Number is 1.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sunny Friend Environmental Technology Co's current Graham Number is NT$61.17, which is 1880% above median its own 10-year median of 3.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sunny Friend Environmental Technology Co stock overvalued right now?
Based on GuruFocus' analysis, Sunny Friend Environmental Technology Co (TPE:8341) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$105.99, compared to a current price of NT$76.40 — trading 27.9% below its estimated fair value. The current Graham Number is NT$61.17, which is 1880% above median its 10-year median of 3.09. Sunny Friend Environmental Technology Co's overall GF Score™ is 83/100 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 Sunny Friend Environmental Technology Co (TPE:8341), the current Graham Number is NT$61.17 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 Sunny Friend Environmental Technology Co (TPE:8341) Overvalued in 2026?
Based on GuruFocus' analysis, Sunny Friend Environmental Technology Co stock appears to be undervalued.
The current stock price of NT$76.40 is trading 27.9% below its estimated GF Value™ of NT$105.99.
GuruFocus considers Sunny Friend Environmental Technology Co to be Modestly Undervalued.
Key valuation signals for TPE:8341:
Graham Number: NT$61.17 (1880% above median its 10-year median of 3.09)
GF Value™: NT$105.99 vs. price of NT$76.40 (27.9% below fair value)
No single metric tells the full story. See the TPE:8341 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sunny Friend Environmental Technology Co operates medical waste treatment plants. It uses technology to handle various types of hazardous waste and collects, incinerates, solidifies, and develops solutions to streamline disposal. Various subsidiaries are in Asia to provide services to medical institutions, dispose of batteries, and offer waste treatment and engineering consultations. The company works to recover materials from waste, recycle resources, and conduct environmental tests to discover solutions. Removal vehicles improve communication with customers and are fully equipped to monitor and transmit all cleaning and incineration records back to Sunny Friend's data centers. It generates the majority of its revenue from waste disposal.
83GF Score
Get the complete analysis for TPE:8341
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