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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.
As of today (2026-07-22), the stock price of Toda Kogyo is 円1402.00. Toda Kogyo's graham number for the quarter that ended in Mar. 2026 was 円N/A. Therefore, Toda Kogyo's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for Toda Kogyo's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of Toda Kogyo was 3.16. The lowest was 0.54. And the median was 1.00.
TSE:4100's Price-to-Graham-Number is not ranked *
in the Chemicals industry.
Industry Median: 1.44 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Toda Kogyo (TSE:4100) 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.
Toda Kogyo's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
1402.00
/
N/A
=
N/A
* 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.
Toda Kogyo Graham Number Related Terms
Toda Kogyo Graham Number Historical Data
* Premium members only.
The historical data trend for Toda Kogyo'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:4100 vs LIN, SHW, ECL: Graham Number Comparison
For the Specialty Chemicals subindustry, Toda Kogyo'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.
Toda Kogyo Price-to-Graham-Number vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Toda Kogyo's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Toda Kogyo'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.
Toda Kogyo (TSE:4100) has a Graham Number of 円N/A as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Toda Kogyo and its competitors. Over the past decade, Toda Kogyo's Graham Number has ranged from 0.54 to 3.16. According to the industry distribution chart, Toda Kogyo ranks #999999 out of 1153 companies in the Chemicals industry.
Is Toda Kogyo's Graham Number too high?
Toda Kogyo's current Graham Number is 円N/A. Over the past 10 years, this metric has ranged from a low of 0.54 to a high of 3.16. Based on the distribution chart, Toda Kogyo ranks #999999 out of 1153 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Toda Kogyo has a GF Score™ of 52/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Toda Kogyo's Graham Number compare to LIN and SHW?
According to the Chemicals industry distribution chart, Toda Kogyo ranks #999999 out of 1153 companies for Graham Number. This places Toda Kogyo in the lower half of its industry. The industry median Graham Number is 1.44. Historically, Toda Kogyo's own Graham Number has ranged from 0.54 to 3.16 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 Chemicals company?
The median Graham Number among Chemicals companies is 1.44, based on 1,153 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 Toda Kogyo and its competitors. For the Chemicals industry, the median Graham Number is 1.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Toda Kogyo's current Graham Number is 円N/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toda Kogyo stock overvalued right now?
Based on GuruFocus' analysis, Toda Kogyo (TSE:4100) is currently considered Fairly Valued. The stock's GF Value™ is 円1,392.50, compared to a current price of 円1,402.00 — trading 0.7% above its estimated fair value. The current Graham Number is 円N/A. Toda Kogyo's overall GF Score™ is 52/100 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 Toda Kogyo (TSE:4100), the current Graham Number is 円N/A 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 Toda Kogyo (TSE:4100) Overvalued in 2026?
Based on GuruFocus' analysis, Toda Kogyo stock appears to be overvalued.
The current stock price of 円1,402.00 is trading 0.7% above its estimated GF Value™ of 円1,392.50.
GuruFocus considers Toda Kogyo to be Fairly Valued.
Key valuation signals for TSE:4100:
Graham Number: 円N/A
GF Value™: 円1,392.50 vs. price of 円1,402.00 (0.7% above fair value)
No single metric tells the full story. See the TSE:4100 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Toda Kogyo Corp trades in functional pigments and electronic materials. It offers electronic printing materials, such as toner materials for printers and copying machines, carriers for color printers and copying machines, and magnetic materials for printers and copying machines. It also provides electromagnetic compatibility/immunity solutions, including electric-wave absorber materials/electromagnetic interference. In addition, the firm offers lithium cobaltate, lithium-nickel oxide, and lithium manganate battery materials for personal computers, mobile phones. Additionally, it offers pigments for colored pavements, reflective pigments, and pigments for coatings and resins; and magnetic recording materials for digital recording media used with computers and videotapes for broadcasting.
52GF Score
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