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.
JAC Recruitment CoTSE:2124 -2.26%87 Graham Number is 円406.61 as of Dec. 2025, which is 100% below its 10-year median of 2.43. GuruFocus rates TSE:2124 with a GF Score™ of 87/100 and a GF Value™ of 円1,025.52 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 700 Business Services companies, JAC Recruitment Co ranks worse than 79.29% 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 (2026-08-05), the stock price of JAC Recruitment Co is 円909.00. JAC Recruitment Co's graham number for the quarter that ended in Dec. 2025 was 円406.61. Therefore, JAC Recruitment Co's Price to Graham Number ratio for today is 2.15.
The historical rank and industry rank for JAC Recruitment Co's Graham Number or its related term are showing as below:
TSE:2124'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 2.06 Med: 2.43 Max: 2.84
Current: 2.29
During the past 13 years, the highest Price to Graham Number ratio of JAC Recruitment Co was 2.84. The lowest was 2.06. And the median was 2.43.
TSE:2124's Price-to-Graham-Number is ranked worse than 79.29% of 700
companies
in the Business Services industry
Industry Median: 1.185
vs TSE:2124: 2.29
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
JAC Recruitment Co (TSE:2124) 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.
JAC Recruitment Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
909.00
/
422.08
=
2.15
* 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.
JAC Recruitment Co Graham Number Related Terms
JAC Recruitment Co Graham Number Historical Data
* Premium members only.
The historical data trend for JAC Recruitment 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:2124 vs KFY, RHI, TNET: Graham Number Comparison
For the Staffing & Employment Services subindustry, JAC Recruitment 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.
JAC Recruitment Co Price-to-Graham-Number vs Business Services Industry
For the Business Services industry and Industrials sector, JAC Recruitment Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where JAC Recruitment 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.
JAC Recruitment Co (TSE:2124) has a Graham Number of 円406.61 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on JAC Recruitment Co and its competitors. This is 16633% above median its historical median of 2.43. Over the past decade, JAC Recruitment Co's Graham Number has ranged from 2.06 to 2.84. According to the industry distribution chart, JAC Recruitment Co ranks #555 out of 700 companies in the Business Services industry, placing it in the top 79.3%.
Is JAC Recruitment Co's Graham Number too high?
JAC Recruitment Co's current Graham Number of 円406.61 is 16633% above median its 10-year median of 2.43. Over the past 10 years, this metric has ranged from a low of 2.06 to a high of 2.84. Based on the distribution chart, JAC Recruitment Co ranks #555 out of 700 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, JAC Recruitment Co has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does JAC Recruitment Co's Graham Number compare to KFY and RHI?
According to the Business Services industry distribution chart, JAC Recruitment Co ranks #555 out of 700 companies for Graham Number. This places JAC Recruitment Co in the lower half of its industry. The industry median Graham Number is 1.19. Historically, JAC Recruitment Co's own Graham Number has ranged from 2.06 to 2.84 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 Business Services company?
The median Graham Number among Business Services companies is 1.19, based on 700 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 JAC Recruitment Co and its competitors. For the Business Services industry, the median Graham Number is 1.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. JAC Recruitment Co's current Graham Number is 円406.61, which is 16633% above median its own 10-year median of 2.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JAC Recruitment Co stock overvalued right now?
Based on GuruFocus' analysis, JAC Recruitment Co (TSE:2124) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,025.52, compared to a current price of 円909.00 — trading 11.4% below its estimated fair value. The current Graham Number is 円406.61, which is 16633% above median its 10-year median of 2.43. JAC Recruitment Co's overall GF Score™ is 87/100 with 1 warning sign 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 JAC Recruitment Co (TSE:2124), the current Graham Number is 円406.61 as of Dec. 2025. 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 JAC Recruitment Co (TSE:2124) Overvalued in 2026?
Based on GuruFocus' analysis, JAC Recruitment Co stock appears to be undervalued.
The current stock price of 円909.00 is trading 11.4% below its estimated GF Value™ of 円1,025.52.
GuruFocus considers JAC Recruitment Co to be Modestly Undervalued.
Key valuation signals for TSE:2124:
Graham Number: 円406.61 (16633% above median its 10-year median of 2.43)
GF Value™: 円1,025.52 vs. price of 円909.00 (11.4% below fair value)
No single metric tells the full story. See the TSE:2124 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JAC Recruitment Co Ltd provide appropriate and attentive consultation services to both companies seeking talent and candidates who wish to change jobs. Its recruitment services include JAC Recruitment, JAC Digital, JAC Executive, JAC International, JAC Career, VantagePoint, JAC Interim Professional Solutions, JAC RPO, and CareerCross.
87GF Score
Get the complete analysis for TSE:2124
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
TSE:2124 has been successfully added to your 
