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.
As of today (2026-08-18), the stock price of CI Medical Co is 円1492.00. CI Medical Co's graham number for the quarter that ended in Jun. 2025 was 円852.82. Therefore, CI Medical Co's Price to Graham Number ratio for today is 1.75.
The historical rank and industry rank for CI Medical Co's Graham Number or its related term are showing as below:
TSE:3540'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.2 Med: 1.61 Max: 4.99
Current: 1.75
During the past 10 years, the highest Price to Graham Number ratio of CI Medical Co was 4.99. The lowest was 1.20. And the median was 1.61.
TSE:3540's Price-to-Graham-Number is not ranked
in the Consumer Packaged Goods industry.
Industry Median: 1.12
vs TSE:3540: 1.75
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
CI Medical Co (TSE:3540) 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.
CI Medical Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2025 )
=
1492.00
/
852.82
=
1.75
* 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.
CI Medical Co Graham Number Related Terms
CI Medical Co Graham Number Historical Data
* Premium members only.
The historical data trend for CI Medical 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.
For the Household & Personal Products subindustry, CI Medical 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.
CI Medical Co Price-to-Graham-Number vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, CI Medical Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where CI Medical 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.
CI Medical Co (TSE:3540) has a Graham Number of 円852.82 as of Jun. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on CI Medical Co and its competitors. This is 52870% above median its historical median of 1.61. Over the past decade, CI Medical Co's Graham Number has ranged from 1.20 to 4.99.
Is CI Medical Co's Graham Number too high?
CI Medical Co's current Graham Number of 円852.82 is 52870% above median its 10-year median of 1.61. Over the past 10 years, this metric has ranged from a low of 1.20 to a high of 4.99. Overall, CI Medical Co has a GF Score™ of 70/100, reflecting its overall financial health beyond just this single metric.
How does CI Medical Co's Graham Number compare to PG and CL?
CI Medical Co's Graham Number of 円852.82 can be compared against companies in the Consumer Packaged Goods industry. The industry median Graham Number is 1.12. Historically, CI Medical Co's own Graham Number has ranged from 1.20 to 4.99 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 Consumer Packaged Goods company?
The median Graham Number among Consumer Packaged Goods companies is 1.12, based on 1,388 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 CI Medical Co and its competitors. For the Consumer Packaged Goods industry, the median Graham Number is 1.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CI Medical Co's current Graham Number is 円852.82, which is 52870% above median its own 10-year median of 1.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CI Medical Co stock overvalued right now?
CI Medical Co (TSE:3540) has a current Graham Number of 円852.82. The stock's GF Value™ is 円2,121.23, compared to a current price of 円1,492.00 — trading 29.7% below its estimated fair value. The current Graham Number is 円852.82, which is 52870% above median its 10-year median of 1.61. CI Medical Co's overall GF Score™ is 70/100 with 5 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 CI Medical Co (TSE:3540), the current Graham Number is 円852.82 as of Jun. 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 CI Medical Co (TSE:3540) Overvalued in 2026?
Based on GuruFocus' analysis, CI Medical Co stock appears to be undervalued.
The current stock price of 円1,492.00 is trading 29.7% below its estimated GF Value™ of 円2,121.23.
Key valuation signals for TSE:3540:
Graham Number: 円852.82 (52870% above median its 10-year median of 1.61)
GF Value™: 円2,121.23 vs. price of 円1,492.00 (29.7% below fair value)
No single metric tells the full story. See the TSE:3540 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CI Medical Co Ltd engages in the development, manufacturing, and sales of dental care products. It operates 3D design labs; it offers advertising and marketing services through its website "Dental Mall" and also manages oral health care website "Ci Mall" and "Dental Fit" through which it sells oral health products and dentures. It serves medical cooperatives, dental clinics, dental associations, health centers, dental colleges, veterinary clinics, nursing home care facilities, and dental dealers.
70GF Score
Get the complete analysis for TSE:3540
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:3540 has been successfully added to your 
