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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 Medical System Network Co's Graham Number or its related term are showing as below:
TSE:4350'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.76 Med: 1.15 Max: 3.04
Current: 1.01
During the past 13 years, the highest Price to Graham Number ratio of Medical System Network Co was 3.04. The lowest was 0.76. And the median was 1.15.
TSE:4350's Price-to-Graham-Number is ranked better than 75.13% of 374
companies
in the Healthcare Providers & Services industry
Industry Median: 1.625
vs TSE:4350: 1.01
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Medical System Network Co (TSE:4350) 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.
Medical System Network Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
501.00
/
507.47
=
0.99
* 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.
Medical System Network Co Graham Number Related Terms
Medical System Network Co 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.
Medical System Network Co Graham Number Competitor Comparison
For the Pharmaceutical Retailers subindustry, Medical System Network 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.
Medical System Network Co Price-to-Graham-Number vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Medical System Network Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Medical System Network 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.
Medical System Network Co (TSE:4350) has a Graham Number of 円546.37 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Medical System Network Co and its competitors. According to the industry distribution chart, Medical System Network Co ranks #93 out of 374 companies in the Healthcare Providers & Services industry, placing it in the top 24.9%.
Is Medical System Network Co's Graham Number too high?
Medical System Network Co's current Graham Number is 円546.37. Based on the distribution chart, Medical System Network Co ranks #93 out of 374 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, Medical System Network Co has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Medical System Network Co's Graham Number compare to competitors?
According to the Healthcare Providers & Services industry distribution chart, Medical System Network Co ranks #93 out of 374 companies for Graham Number. This places Medical System Network Co in the top 25% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.63. 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 Healthcare Providers & Services company?
The median Graham Number among Healthcare Providers & Services companies is 1.63, based on 374 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 Medical System Network Co and its competitors. For the Healthcare Providers & Services industry, the median Graham Number is 1.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Medical System Network Co's current Graham Number is 円546.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Medical System Network Co stock overvalued right now?
Based on GuruFocus' analysis, Medical System Network Co (TSE:4350) is currently considered Fairly Valued. The stock's GF Value™ is 円523.54, compared to a current price of 円501.00 — trading 4.3% below its estimated fair value. The current Graham Number is 円546.37. Medical System Network Co's overall GF Score™ is 63/100 with 8 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 Medical System Network Co (TSE:4350), the current Graham Number is 円546.37 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 Medical System Network Co (TSE:4350) Overvalued in 2026?
Based on GuruFocus' analysis, Medical System Network Co stock appears to be undervalued.
The current stock price of 円501.00 is trading 4.3% below its estimated GF Value™ of 円523.54.
GuruFocus considers Medical System Network Co to be Fairly Valued.
Key valuation signals for TSE:4350:
Graham Number: 円546.37
GF Value™: 円523.54 vs. price of 円501.00 (4.3% below fair value)
No single metric tells the full story. See the TSE:4350 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Medical System Network Co Ltd is involved in its network business of dispensing pharmacy business. It also operates a network database used by pharmacies to access patients' prescriptions. It operates through the following business divisions: Pharmaceutical Product Network; Dispensing Pharmacy; Leasing and Equipment-related Business; Food Supply business and others.
63GF Score
Get the complete analysis for TSE:4350
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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