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.
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 Advance Residence Investment's Graham Number or its related term are showing as below:
TSE:3269'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.31 Med: 1.56 Max: 1.87
Current: 1.31
During the past 13 years, the highest Price to Graham Number ratio of Advance Residence Investment was 1.87. The lowest was 1.31. And the median was 1.56.
TSE:3269's Price-to-Graham-Number is ranked worse than 79.53% of 723
companies
in the REITs industry
Industry Median: 0.72
vs TSE:3269: 1.31
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Advance Residence Investment (TSE:3269) 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.
Advance Residence Investment's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jan. 2026 )
=
145000.00
/
111,099.54
=
1.31
* 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.
Advance Residence Investment Graham Number Related Terms
Advance Residence Investment 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.
TSE:3269 vs VMRK, EQR, ESS: Graham Number Comparison
For the REIT - Residential subindustry, Advance Residence Investment'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.
Advance Residence Investment Price-to-Graham-Number vs REITs Industry
For the REITs industry and Real Estate sector, Advance Residence Investment's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Advance Residence Investment'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.
Advance Residence Investment (TSE:3269) has a Graham Number of 円111,099.54 as of Jan. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Advance Residence Investment and its competitors. According to the industry distribution chart, Advance Residence Investment ranks #575 out of 723 companies in the REITs industry, placing it in the top 79.5%.
Is Advance Residence Investment's Graham Number too high?
Advance Residence Investment's current Graham Number is 円111,099.54. Based on the distribution chart, Advance Residence Investment ranks #575 out of 723 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Advance Residence Investment has a GF Score™ of 59/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Advance Residence Investment's Graham Number compare to VMRK and EQR?
According to the REITs industry distribution chart, Advance Residence Investment ranks #575 out of 723 companies for Graham Number. This places Advance Residence Investment in the lower half of its industry. The industry median Graham Number is 0.72. 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 REITs company?
The median Graham Number among REITs companies is 0.72, based on 723 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 Advance Residence Investment and its competitors. For the REITs industry, the median Graham Number is 0.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Advance Residence Investment's current Graham Number is 円111,099.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Advance Residence Investment stock overvalued right now?
Based on GuruFocus' analysis, Advance Residence Investment (TSE:3269) is currently considered Modestly Overvalued. The stock's GF Value™ is 円127,544.70, compared to a current price of 円145,000.00 — trading 13.7% above its estimated fair value. The current Graham Number is 円111,099.54. Advance Residence Investment's overall GF Score™ is 59/100 with 6 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 Advance Residence Investment (TSE:3269), the current Graham Number is 円111,099.54 as of Jan. 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 Advance Residence Investment (TSE:3269) Overvalued in 2026?
Based on GuruFocus' analysis, Advance Residence Investment stock appears to be overvalued.
The current stock price of 円145,000.00 is trading 13.7% above its estimated GF Value™ of 円127,544.70.
GuruFocus considers Advance Residence Investment to be Modestly Overvalued.
Key valuation signals for TSE:3269:
Graham Number: 円111,099.54
GF Value™: 円127,544.70 vs. price of 円145,000.00 (13.7% above fair value)
No single metric tells the full story. See the TSE:3269 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Advance Residence Investment Corp is a real estate investment trust that engages in the property leasing business. It mainly invests in rental housing in central Tokyo, the greater Tokyo area, and other nearby cities. Its portfolio includes properties such as RESIDIA TOWER Meguro-Fudomae, Pacific Royal Court Minato Mirai Ocean Tower, Park Tower Shibaura Bayward Urban Wing, RESIDIA Daikanyama-Sarugakucho, and several other RESIDIA-branded buildings.
59GF Score
Get the complete analysis for TSE:3269
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:3269 has been successfully added to your 
