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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 (2026-08-25), the stock price of KAINOS Laboratories is 円2268.00. KAINOS Laboratories's graham number for the quarter that ended in Mar. 2026 was 円2,186.49. Therefore, KAINOS Laboratories's Price to Graham Number ratio for today is 1.04.
The historical rank and industry rank for KAINOS Laboratories's Graham Number or its related term are showing as below:
TSE:4556'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.51 Med: 0.56 Max: 1.04
Current: 1.04
During the past 13 years, the highest Price to Graham Number ratio of KAINOS Laboratories was 1.04. The lowest was 0.51. And the median was 0.56.
TSE:4556's Price-to-Graham-Number is ranked better than 78.33% of 406
companies
in the Medical Devices & Instruments industry
Industry Median: 1.825
vs TSE:4556: 1.04
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
KAINOS Laboratories (TSE:4556) 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.
KAINOS Laboratories's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
2268.00
/
2,186.49
=
1.04
* 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.
KAINOS Laboratories Graham Number Related Terms
KAINOS Laboratories Graham Number Historical Data
* Premium members only.
The historical data trend for KAINOS Laboratories'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:4556 vs ISRG, BDX, MDLN: Graham Number Comparison
For the Medical Instruments & Supplies subindustry, KAINOS Laboratories'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.
KAINOS Laboratories Price-to-Graham-Number vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, KAINOS Laboratories's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where KAINOS Laboratories'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.
KAINOS Laboratories (TSE:4556) has a Graham Number of 円2,186.49 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on KAINOS Laboratories and its competitors. According to the industry distribution chart, KAINOS Laboratories ranks #88 out of 406 companies in the Medical Devices & Instruments industry, placing it in the top 21.7%.
Is KAINOS Laboratories' Graham Number too high?
KAINOS Laboratories' current Graham Number is 円2,186.49. Based on the distribution chart, KAINOS Laboratories ranks #88 out of 406 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, KAINOS Laboratories has a GF Score™ of 47/100, reflecting its overall financial health beyond just this single metric.
How does KAINOS Laboratories' Graham Number compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, KAINOS Laboratories ranks #88 out of 406 companies for Graham Number. This places KAINOS Laboratories in the top 22% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.83. 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 Medical Devices & Instruments company?
The median Graham Number among Medical Devices & Instruments companies is 1.83, based on 406 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 KAINOS Laboratories and its competitors. For the Medical Devices & Instruments industry, the median Graham Number is 1.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. KAINOS Laboratories's current Graham Number is 円2,186.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KAINOS Laboratories stock overvalued right now?
KAINOS Laboratories (TSE:4556) has a current Graham Number of 円2,186.49. The stock's GF Value™ is 円1,285.89, compared to a current price of 円2,268.00 — trading 76.4% above its estimated fair value. The current Graham Number is 円2,186.49. KAINOS Laboratories' overall GF Score™ is 47/100 with 6 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 KAINOS Laboratories (TSE:4556), the current Graham Number is 円2,186.49 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 KAINOS Laboratories (TSE:4556) Overvalued in 2026?
Based on GuruFocus' analysis, KAINOS Laboratories stock appears to be overvalued.
The current stock price of 円2,268.00 is trading 76.4% above its estimated GF Value™ of 円1,285.89.
Key valuation signals for TSE:4556:
Graham Number: 円2,186.49
GF Value™: 円1,285.89 vs. price of 円2,268.00 (76.4% above fair value)
No single metric tells the full story. See the TSE:4556 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KAINOS Laboratories Inc is focused on the development, manufacture, marketing, distribution, and import/export of pharmaceuticals, diagnostic reagents, and related chemical products. It also manufactures, sells, and exports/imports physicochemical measuring equipment for medical use.
47GF Score
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