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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 (2026-09-02), the stock price of Asahi Kogyosha Co is 円4020.00. Asahi Kogyosha Co's graham number for the quarter that ended in Mar. 2026 was 円3,895.05. Therefore, Asahi Kogyosha Co's Price to Graham Number ratio for today is 1.02.
The historical rank and industry rank for Asahi Kogyosha Co's Graham Number or its related term are showing as below:
TSE:1975'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.47 Med: 0.57 Max: 1.02
Current: 1.02
During the past 13 years, the highest Price to Graham Number ratio of Asahi Kogyosha Co was 1.02. The lowest was 0.47. And the median was 0.57.
TSE:1975's Price-to-Graham-Number is ranked worse than 50.21% of 1205
companies
in the Construction industry
Industry Median: 1.01
vs TSE:1975: 1.02
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Asahi Kogyosha Co (TSE:1975) 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.
Asahi Kogyosha Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
4020.00
/
3,926.15
=
1.02
* 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.
Asahi Kogyosha Co Graham Number Related Terms
Asahi Kogyosha Co Graham Number Historical Data
* Premium members only.
The historical data trend for Asahi Kogyosha Co'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.
TSE:1975 vs PWR, FIX, EME: Graham Number Comparison
For the Engineering & Construction subindustry, Asahi Kogyosha 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.
Asahi Kogyosha Co Price-to-Graham-Number vs Construction Industry
For the Construction industry and Industrials sector, Asahi Kogyosha Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Asahi Kogyosha 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.
Asahi Kogyosha Co (TSE:1975) has a Graham Number of 円3,895.05 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Asahi Kogyosha Co and its competitors. According to the industry distribution chart, Asahi Kogyosha Co ranks #605 out of 1205 companies in the Construction industry, placing it in the top 50.2%.
Is Asahi Kogyosha Co's Graham Number too high?
Asahi Kogyosha Co's current Graham Number is 円3,895.05. Based on the distribution chart, Asahi Kogyosha Co ranks #605 out of 1205 companies in the Construction industry, which is below the industry midpoint. Overall, Asahi Kogyosha Co has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Asahi Kogyosha Co's Graham Number compare to PWR and FIX?
According to the Construction industry distribution chart, Asahi Kogyosha Co ranks #605 out of 1205 companies for Graham Number. This places Asahi Kogyosha Co in the lower half of its industry. The industry median Graham Number is 1.01. 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 Construction company?
The median Graham Number among Construction companies is 1.01, based on 1,205 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 Asahi Kogyosha Co and its competitors. For the Construction industry, the median Graham Number is 1.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asahi Kogyosha Co's current Graham Number is 円3,895.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asahi Kogyosha Co stock overvalued right now?
Based on GuruFocus' analysis, Asahi Kogyosha Co (TSE:1975) is currently considered Significantly Overvalued. The stock's GF Value™ is 円2,107.68, compared to a current price of 円4,020.00 — trading 90.7% above its estimated fair value. The current Graham Number is 円3,895.05. Asahi Kogyosha Co's overall GF Score™ is 65/100. 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 Asahi Kogyosha Co (TSE:1975), the current Graham Number is 円3,895.05 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 Asahi Kogyosha Co (TSE:1975) Overvalued in 2026?
Based on GuruFocus' analysis, Asahi Kogyosha Co stock appears to be overvalued.
The current stock price of 円4,020.00 is trading 90.7% above its estimated GF Value™ of 円2,107.68.
GuruFocus considers Asahi Kogyosha Co to be Significantly Overvalued.
Key valuation signals for TSE:1975:
Graham Number: 円3,895.05
GF Value™: 円2,107.68 vs. price of 円4,020.00 (90.7% above fair value)
No single metric tells the full story. See the TSE:1975 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asahi Kogyosha Co Ltd is a Japan-based company. It mainly designs, supervises, and constructs air conditioning and sanitary equipment. Along with its subsidiaries, the company operates in the following reportable segments; Facility construction and Equipment manufacturing and sales. A majority of its revenue is derived from the facility construction business, which is involved in the planning, design, and construction of air conditioning, water supply, drainage, and sanitary facilities. The equipment manufacturing and sales business is engaged in the manufacturing and sale of environmental equipment for the semiconductor, FPD, and electronics industries and also manufactures air conditioning-related equipment in cooperation with construction companies.
65GF Score
Get the complete analysis for TSE:1975
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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