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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 (2026-08-30), the stock price of TAC Co is 円347.00. TAC Co's graham number for the quarter that ended in Sep. 2025 was 円450.54. Therefore, TAC Co's Price to Graham Number ratio for today is 0.77.
The historical rank and industry rank for TAC Co's Graham Number or its related term are showing as below:
TSE:4319'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.46 Med: 0.7 Max: 1.42
Current: 0.77
During the past 13 years, the highest Price to Graham Number ratio of TAC Co was 1.42. The lowest was 0.46. And the median was 0.70.
TSE:4319's Price-to-Graham-Number is not ranked
in the Education industry.
Industry Median: 1.245
vs TSE:4319: 0.77
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
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.
TAC Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Sep. 2025 )
=
347.00
/
450.54
=
0.77
* 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.
TAC Co Graham Number Related Terms
TAC Co Graham Number Historical Data
* Premium members only.
The historical data trend for TAC 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.
TSE:4319 vs EDU, TAL, LAUR: Graham Number Comparison
For the Education & Training Services subindustry, TAC 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.
TAC Co Price-to-Graham-Number vs Education Industry
For the Education industry and Consumer Defensive sector, TAC Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where TAC 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.
TAC Co (TSE:4319) has a Graham Number of 円450.54 as of Sep. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on TAC Co and its competitors.
Is TAC Co's Graham Number too high?
TAC Co's current Graham Number is 円450.54. Overall, TAC Co has a GF Score™ of 42/100, reflecting its overall financial health beyond just this single metric.
How does TAC Co's Graham Number compare to EDU and TAL?
TAC Co's Graham Number of 円450.54 can be compared against companies in the Education industry. The industry median Graham Number is 1.25. 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 an Education company?
The median Graham Number among Education companies is 1.25, based on 156 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 TAC Co and its competitors. For the Education industry, the median Graham Number is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TAC Co's current Graham Number is 円450.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TAC Co stock overvalued right now?
TAC Co (TSE:4319) has a current Graham Number of 円450.54. The stock's GF Value™ is 円192.17, compared to a current price of 円347.00 — trading 80.6% above its estimated fair value. The current Graham Number is 円450.54. TAC Co's overall GF Score™ is 42/100 with 10 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 TAC Co (TSE:4319), the current Graham Number is 円450.54 as of Sep. 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 TAC Co (TSE:4319) Overvalued in 2026?
Based on GuruFocus' analysis, TAC Co stock appears to be overvalued.
The current stock price of 円347.00 is trading 80.6% above its estimated GF Value™ of 円192.17.
Key valuation signals for TSE:4319:
Graham Number: 円450.54
GF Value™: 円192.17 vs. price of 円347.00 (80.6% above fair value)
No single metric tells the full story. See the TSE:4319 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TAC Co Ltd is a Japan-based company engages in providing educational services. The company is engaged in the personal education, corporate training, publishing, and manpower businesses. Its personal education business division offers preparatory courses for qualifications for individual students and provides training for corporations.
42GF Score
Get the complete analysis for TSE:4319
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