Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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.
Toray IndustriesTRYIF 81 Graham Number is $7.33 as of Mar. 2026, which is 656% above its 10-year median of 0.97. GuruFocus rates TRYIF with a GF Score™ of 81/100 and a GF Value™ of $5.71 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 709 Manufacturing - Apparel & Accessories companies, Toray Industries ranks better than 50.63% 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.
As of today (2026-07-18), the stock price of Toray Industries is $6.66. Toray Industries's graham number for the quarter that ended in Mar. 2026 was $7.33. Therefore, Toray Industries's Price to Graham Number ratio for today is 0.91.
The historical rank and industry rank for Toray Industries's Graham Number or its related term are showing as below:
TRYIF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.56 Med: 0.97 Max: 1.36
Current: 1
During the past 13 years, the highest Price to Graham Number ratio of Toray Industries was 1.36. The lowest was 0.56. And the median was 0.97.
TRYIF's Price-to-Graham-Number is ranked better than 50.63% of 709
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 1.03
vs TRYIF: 1.00
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Toray Industries (OTCPK:TRYIF) 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.
Toray Industries's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
6.66
/
7.33
=
0.91
* 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.
Toray Industries Graham Number Related Terms
Toray Industries Graham Number Historical Data
* Premium members only.
The historical data trend for Toray Industries'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.
Toray Industries Graham Number Competitor Comparison
For the Textile Manufacturing subindustry, Toray Industries'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.
Toray Industries Price-to-Graham-Number vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Toray Industries's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Toray Industries'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.
Toray Industries (TRYIF) has a Graham Number of $7.33 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Toray Industries and its competitors. This is 656% above median its historical median of 0.97. Over the past decade, Toray Industries' Graham Number has ranged from 0.56 to 1.36. According to the industry distribution chart, Toray Industries ranks #350 out of 709 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 49.4%.
Is Toray Industries' Graham Number too high?
Toray Industries' current Graham Number of $7.33 is 656% above median its 10-year median of 0.97. Over the past 10 years, this metric has ranged from a low of 0.56 to a high of 1.36. The Manufacturing - Apparel & Accessories industry median Graham Number is 1.03. Toray Industries' value of $7.33 is 611.7% above this industry median. Based on the distribution chart, Toray Industries ranks #350 out of 709 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, Toray Industries has a GF Score™ of 81/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Toray Industries' Graham Number compare to competitors?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Toray Industries ranks #350 out of 709 companies for Graham Number. This puts Toray Industries in the upper half of its industry. The industry median Graham Number is 1.03. Toray Industries' value of $7.33 is 611.7% above this benchmark. Historically, Toray Industries' own Graham Number has ranged from 0.56 to 1.36 over the past decade. While the company's 10-year median is 0.97 vs. the industry median of 1.03, Toray Industries has consistently been above the industry average. 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 Manufacturing - Apparel & Accessories company?
The median Graham Number among Manufacturing - Apparel & Accessories companies is 1.03, based on 709 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. Toray Industries's current Graham Number of $7.33 is 611.7% above the industry median. 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 Toray Industries and its competitors. For the Manufacturing - Apparel & Accessories 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. Toray Industries's current Graham Number is $7.33, which is 656% above median its own 10-year median of 0.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toray Industries stock overvalued right now?
Based on GuruFocus' analysis, Toray Industries (TRYIF) is currently considered Modestly Overvalued. The stock's GF Value™ is $5.71, compared to a current price of $6.66 — trading 16.6% above its estimated fair value. The current Graham Number is $7.33, which is 656% above median its 10-year median of 0.97 and 611.7% above the Manufacturing - Apparel & Accessories industry median of 1.03. Toray Industries' overall GF Score™ is 81/100 with 2 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 Toray Industries (TRYIF), the current Graham Number is $7.33 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 Toray Industries (TRYIF) Overvalued in 2026?
Based on GuruFocus' analysis, Toray Industries stock appears to be overvalued.
The current stock price of $6.66 is trading 16.6% above its estimated GF Value™ of $5.71.
GuruFocus considers Toray Industries to be Modestly Overvalued.
Key valuation signals for TRYIF:
Graham Number: $7.33 (656% above median its 10-year median of 0.97)
GF Value™: $5.71 vs. price of $6.66 (16.6% above fair value)
Industry Position: 611.7% above the Manufacturing - Apparel & Accessories median (#350 of 709)
No single metric tells the full story. See the TRYIF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Toray Industries Inc is a Japan-based company engaged in the textile business, functional chemicals business, carbon fiber composite materials, and other businesses. The Carbon Fiber Composite Materials segment covers carbon fiber, composites, and molded products. The Environment and Engineering segment includes membranes for water treatment, general engineering, industrial machinery, housing, and construction materials. The Functional Chemicals segment handles resins, foams, films, fine chemicals, and electronic materials. The Life Science segment focuses on pharmaceuticals and medical devices. The Textile segment provides fibers, fabrics, non-woven and apparel products, while Others offers analysis, survey, and research services. It generates majority of revenue from the Textile segment.
81GF Score
Get the complete analysis for TRYIF
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TRYIF has been successfully added to your 
