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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 Mitsubishi Research Institute's Graham Number or its related term are showing as below:
TSE:3636'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.64 Med: 0.92 Max: 1.24
Current: 0.7
During the past 13 years, the highest Price to Graham Number ratio of Mitsubishi Research Institute was 1.24. The lowest was 0.64. And the median was 0.92.
TSE:3636's Price-to-Graham-Number is ranked better than 90.07% of 1480
companies
in the Software industry
Industry Median: 1.88
vs TSE:3636: 0.70
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Mitsubishi Research Institute (TSE:3636) 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.
Mitsubishi Research Institute's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
5150.00
/
7,341.20
=
0.70
* 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.
Mitsubishi Research Institute Graham Number Related Terms
Mitsubishi Research Institute 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:3636 vs IBM, ACN, FISV: Graham Number Comparison
For the Information Technology Services subindustry, Mitsubishi Research Institute'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.
Mitsubishi Research Institute Price-to-Graham-Number vs Software Industry
For the Software industry and Technology sector, Mitsubishi Research Institute's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Mitsubishi Research Institute'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.
Mitsubishi Research Institute (TSE:3636) has a Graham Number of 円7,341.20 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Mitsubishi Research Institute and its competitors. According to the industry distribution chart, Mitsubishi Research Institute ranks #147 out of 1480 companies in the Software industry, placing it in the top 9.9%.
Is Mitsubishi Research Institute's Graham Number too high?
Mitsubishi Research Institute's current Graham Number is 円7,341.20. Based on the distribution chart, Mitsubishi Research Institute ranks #147 out of 1480 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Mitsubishi Research Institute has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mitsubishi Research Institute's Graham Number compare to IBM and ACN?
According to the Software industry distribution chart, Mitsubishi Research Institute ranks #147 out of 1480 companies for Graham Number. This places Mitsubishi Research Institute in the top 10% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.88. 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 Software company?
The median Graham Number among Software companies is 1.88, based on 1,480 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 Mitsubishi Research Institute and its competitors. For the Software industry, the median Graham Number is 1.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mitsubishi Research Institute's current Graham Number is 円7,341.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mitsubishi Research Institute stock overvalued right now?
Based on GuruFocus' analysis, Mitsubishi Research Institute (TSE:3636) is currently considered Fairly Valued. The stock's GF Value™ is 円5,162.34, compared to a current price of 円5,150.00 — trading 0.2% below its estimated fair value. The current Graham Number is 円7,341.20. Mitsubishi Research Institute's overall GF Score™ is 81/100 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 Mitsubishi Research Institute (TSE:3636), the current Graham Number is 円7,341.20 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 Mitsubishi Research Institute (TSE:3636) Overvalued in 2026?
Based on GuruFocus' analysis, Mitsubishi Research Institute stock appears to be undervalued.
The current stock price of 円5,150.00 is trading 0.2% below its estimated GF Value™ of 円5,162.34.
GuruFocus considers Mitsubishi Research Institute to be Fairly Valued.
Key valuation signals for TSE:3636:
Graham Number: 円7,341.20
GF Value™: 円5,162.34 vs. price of 円5,150.00 (0.2% below fair value)
No single metric tells the full story. See the TSE:3636 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mitsubishi Research Institute Inc is an international research and consulting firm. The company assists its clients in developing comprehensive solutions to meet their diverse needs by integrating think-tank, consulting and IT solution services. The Think Tank and Consulting segment offers research, survey analysis, project appraisal, strategic planning, and other organizational development services. The IT Solutions segment provides IT support and consulting, software development, data processing, system machinery, core system outsourcing, and business process outsourcing services. The business activity is primarily functioned through the regions of Japan.
81GF Score
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