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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 Immuno-Biological Laboratories Co's Graham Number or its related term are showing as below:
TSE:4570'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.54 Med: 2.17 Max: 3.4
Current: 2.47
During the past 13 years, the highest Price to Graham Number ratio of Immuno-Biological Laboratories Co was 3.40. The lowest was 1.54. And the median was 2.17.
TSE:4570's Price-to-Graham-Number is ranked worse than 60.08% of 263
companies
in the Biotechnology industry
Industry Median: 1.91
vs TSE:4570: 2.47
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Immuno-Biological Laboratories Co (TSE:4570) 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.
Immuno-Biological Laboratories Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
1064.00
/
425.23
=
2.50
* 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.
Immuno-Biological Laboratories Co Graham Number Related Terms
Immuno-Biological Laboratories 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.
Immuno-Biological Laboratories Co Graham Number Chart
TSE:4570 vs VRTX, REGN, RVMD: Graham Number Comparison
For the Biotechnology subindustry, Immuno-Biological Laboratories 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.
Immuno-Biological Laboratories Co Price-to-Graham-Number vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Immuno-Biological Laboratories Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Immuno-Biological Laboratories 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.
Immuno-Biological Laboratories Co (TSE:4570) has a Graham Number of 円393.49 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Immuno-Biological Laboratories Co and its competitors. According to the industry distribution chart, Immuno-Biological Laboratories Co ranks #158 out of 263 companies in the Biotechnology industry, placing it in the top 60.1%.
Is Immuno-Biological Laboratories Co's Graham Number too high?
Immuno-Biological Laboratories Co's current Graham Number is 円393.49. Based on the distribution chart, Immuno-Biological Laboratories Co ranks #158 out of 263 companies in the Biotechnology industry, which is below the industry midpoint. Overall, Immuno-Biological Laboratories Co has a GF Score™ of 53/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Immuno-Biological Laboratories Co's Graham Number compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Immuno-Biological Laboratories Co ranks #158 out of 263 companies for Graham Number. This places Immuno-Biological Laboratories Co in the lower half of its industry. The industry median Graham Number is 1.91. 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 Biotechnology company?
The median Graham Number among Biotechnology companies is 1.91, based on 263 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 Immuno-Biological Laboratories Co and its competitors. For the Biotechnology industry, the median Graham Number is 1.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Immuno-Biological Laboratories Co's current Graham Number is 円393.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Immuno-Biological Laboratories Co stock overvalued right now?
Based on GuruFocus' analysis, Immuno-Biological Laboratories Co (TSE:4570) is currently considered Significantly Overvalued. The stock's GF Value™ is 円588.60, compared to a current price of 円1,064.00 — trading 80.8% above its estimated fair value. The current Graham Number is 円393.49. Immuno-Biological Laboratories Co's overall GF Score™ is 53/100 with 2 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 Immuno-Biological Laboratories Co (TSE:4570), the current Graham Number is 円393.49 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 Immuno-Biological Laboratories Co (TSE:4570) Overvalued in 2026?
Based on GuruFocus' analysis, Immuno-Biological Laboratories Co stock appears to be overvalued.
The current stock price of 円1,064.00 is trading 80.8% above its estimated GF Value™ of 円588.60.
GuruFocus considers Immuno-Biological Laboratories Co to be Significantly Overvalued.
Key valuation signals for TSE:4570:
Graham Number: 円393.49
GF Value™: 円588.60 vs. price of 円1,064.00 (80.8% above fair value)
No single metric tells the full story. See the TSE:4570 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Immuno-Biological Laboratories Co Ltd focuses on research and development. It researches, develops, manufacture and supplies various immunological research reagents, and customized services. It is engaged in research and development of materials used in diagnostic products and valuable seeds and technology for protein production using transgenic silkworm cocoons, which make it possible to create valuable proteins as well as antibodies. It works on clinical reagents for cancer research. Its research scientists are producing inflammatory cytokines, growth factors & antibodies for use against these cancers.
53GF Score
Get the complete analysis for TSE:4570
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