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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.
The historical rank and industry rank for Taiwan Hon Chuan Enterprise Co's Graham Number or its related term are showing as below:
TPE:9939'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.75 Med: 0.92 Max: 1.55
Current: 1.2
During the past 13 years, the highest Price to Graham Number ratio of Taiwan Hon Chuan Enterprise Co was 1.55. The lowest was 0.75. And the median was 0.92.
TPE:9939's Price-to-Graham-Number is ranked worse than 56.04% of 298
companies
in the Packaging & Containers industry
Industry Median: 1.025
vs TPE:9939: 1.20
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Taiwan Hon Chuan Enterprise Co (TPE:9939) 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 Hon Chuan Enterprise Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
135.00
/
112.89
=
1.20
* 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 Hon Chuan Enterprise Co Graham Number Related Terms
Taiwan Hon Chuan Enterprise 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.
Taiwan Hon Chuan Enterprise Co Graham Number Chart
For the Packaging & Containers subindustry, Taiwan Hon Chuan Enterprise 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.
Taiwan Hon Chuan Enterprise Co Price-to-Graham-Number vs Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Taiwan Hon Chuan Enterprise Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Taiwan Hon Chuan Enterprise 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.
Taiwan Hon Chuan Enterprise Co (TPE:9939) has a Graham Number of NT$112.89 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Taiwan Hon Chuan Enterprise Co and its competitors. This is 12171% above median its historical median of 0.92. Over the past decade, Taiwan Hon Chuan Enterprise Co's Graham Number has ranged from 0.75 to 1.55. According to the industry distribution chart, Taiwan Hon Chuan Enterprise Co ranks #167 out of 298 companies in the Packaging & Containers industry, placing it in the top 56%.
Is Taiwan Hon Chuan Enterprise Co's Graham Number too high?
Taiwan Hon Chuan Enterprise Co's current Graham Number of NT$112.89 is 12171% above median its 10-year median of 0.92. Over the past 10 years, this metric has ranged from a low of 0.75 to a high of 1.55. Based on the distribution chart, Taiwan Hon Chuan Enterprise Co ranks #167 out of 298 companies in the Packaging & Containers industry, which is below the industry midpoint. Overall, Taiwan Hon Chuan Enterprise Co has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Taiwan Hon Chuan Enterprise Co's Graham Number compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Taiwan Hon Chuan Enterprise Co ranks #167 out of 298 companies for Graham Number. This places Taiwan Hon Chuan Enterprise Co in the lower half of its industry. The industry median Graham Number is 1.03. Historically, Taiwan Hon Chuan Enterprise Co's own Graham Number has ranged from 0.75 to 1.55 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 Packaging & Containers company?
The median Graham Number among Packaging & Containers companies is 1.03, based on 298 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 Hon Chuan Enterprise Co and its competitors. For the Packaging & Containers industry, the median Graham Number is 1.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Taiwan Hon Chuan Enterprise Co's current Graham Number is NT$112.89, which is 12171% above median its own 10-year median of 0.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taiwan Hon Chuan Enterprise Co stock overvalued right now?
Based on GuruFocus' analysis, Taiwan Hon Chuan Enterprise Co (TPE:9939) is currently considered Fairly Valued. The stock's GF Value™ is NT$146.71, compared to a current price of NT$135.00 — trading 8% below its estimated fair value. The current Graham Number is NT$112.89, which is 12171% above median its 10-year median of 0.92. Taiwan Hon Chuan Enterprise Co's overall GF Score™ is 89/100 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 Taiwan Hon Chuan Enterprise Co (TPE:9939), the current Graham Number is NT$112.89 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 Hon Chuan Enterprise Co (TPE:9939) Overvalued in 2026?
Based on GuruFocus' analysis, Taiwan Hon Chuan Enterprise Co stock appears to be undervalued.
The current stock price of NT$135.00 is trading 8% below its estimated GF Value™ of NT$146.71.
GuruFocus considers Taiwan Hon Chuan Enterprise Co to be Fairly Valued.
Key valuation signals for TPE:9939:
Graham Number: NT$112.89 (12171% above median its 10-year median of 0.92)
GF Value™: NT$146.71 vs. price of NT$135.00 (8% below fair value)
No single metric tells the full story. See the TPE:9939 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Taiwan Hon Chuan Enterprise Co Ltd manufactures and sells a variety of packaging products. Its primary product categories include plastic and aluminum caps used for beverages and can liners, polyethylene terephthalate bottles used to produce water bottles, and labels for consumer products. The Group also sells tobacco and liquor packaging, as well as cigarette filters and paper. In addition, Taiwan Hon Chuan sells packaging equipment used to produce caps, bottles, labels, and fill bottles. Its reportable segments are: Foreign Subsidiaries, which generate the maximum revenue, and Domestic. Geographically, the Group generates maximum revenue from its customers in Taiwan, followed by China, Southeast Asia, and other regions.
89GF Score
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