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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 Healthcare & Medical Investment's Graham Number or its related term are showing as below:
TSE:3455'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.81 Med: 1.01 Max: 1.44
Current: 0.81
During the past 11 years, the highest Price to Graham Number ratio of Healthcare & Medical Investment was 1.44. The lowest was 0.81. And the median was 1.01.
TSE:3455's Price-to-Graham-Number is ranked worse than 59.2% of 728
companies
in the REITs industry
Industry Median: 0.72
vs TSE:3455: 0.81
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Healthcare & Medical Investment (TSE:3455) 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.
Healthcare & Medical Investment's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jan. 2026 )
=
96100.00
/
118,146.69
=
0.81
* 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.
Healthcare & Medical Investment Graham Number Related Terms
Healthcare & Medical 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.
Healthcare & Medical Investment Graham Number Chart
TSE:3455 vs WELL, VTR, DOC: Graham Number Comparison
For the REIT - Healthcare Facilities subindustry, Healthcare & Medical 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.
Healthcare & Medical Investment Price-to-Graham-Number vs REITs Industry
For the REITs industry and Real Estate sector, Healthcare & Medical Investment's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Healthcare & Medical 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.
Healthcare & Medical Investment (TSE:3455) has a Graham Number of 円118,146.69 as of Jan. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Healthcare & Medical Investment and its competitors. According to the industry distribution chart, Healthcare & Medical Investment ranks #431 out of 728 companies in the REITs industry, placing it in the top 59.2%.
Is Healthcare & Medical Investment's Graham Number too high?
Healthcare & Medical Investment's current Graham Number is 円118,146.69. Based on the distribution chart, Healthcare & Medical Investment ranks #431 out of 728 companies in the REITs industry, which is below the industry midpoint. Overall, Healthcare & Medical Investment has a GF Score™ of 50/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Healthcare & Medical Investment's Graham Number compare to WELL and VTR?
According to the REITs industry distribution chart, Healthcare & Medical Investment ranks #431 out of 728 companies for Graham Number. This places Healthcare & Medical 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 728 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 Healthcare & Medical 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. Healthcare & Medical Investment's current Graham Number is 円118,146.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Healthcare & Medical Investment stock overvalued right now?
Based on GuruFocus' analysis, Healthcare & Medical Investment (TSE:3455) is currently considered Modestly Undervalued. The stock's GF Value™ is 円129,510.37, compared to a current price of 円96,100.00 — trading 25.8% below its estimated fair value. The current Graham Number is 円118,146.69. Healthcare & Medical Investment's overall GF Score™ is 50/100 with 4 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 Healthcare & Medical Investment (TSE:3455), the current Graham Number is 円118,146.69 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 Healthcare & Medical Investment (TSE:3455) Overvalued in 2026?
Based on GuruFocus' analysis, Healthcare & Medical Investment stock appears to be undervalued.
The current stock price of 円96,100.00 is trading 25.8% below its estimated GF Value™ of 円129,510.37.
GuruFocus considers Healthcare & Medical Investment to be Modestly Undervalued.
Key valuation signals for TSE:3455:
Graham Number: 円118,146.69
GF Value™: 円129,510.37 vs. price of 円96,100.00 (25.8% below fair value)
No single metric tells the full story. See the TSE:3455 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Healthcare & Medical Investment Corp is an investment company, which invests in nursing homes facilities and medical related real properties. The company aims to achieve stable earnings from mid- to long-term perspectives through investment in real estate and other related assets. The firm primarily invests in facilities and buildings for the elderly, as well as medical related facilities.
50GF Score
Get the complete analysis for TSE:3455
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