Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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 (2026-09-05), the stock price of DreamArts is 円908.00. DreamArts's graham number for the quarter that ended in Jun. 2026 was 円334.85. Therefore, DreamArts's Price to Graham Number ratio for today is 2.71.
The historical rank and industry rank for DreamArts's Graham Number or its related term are showing as below:
TSE:4811'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 2 Med: 2.29 Max: 3.16
Current: 2.71
During the past 5 years, the highest Price to Graham Number ratio of DreamArts was 3.16. The lowest was 2.00. And the median was 2.29.
TSE:4811's Price-to-Graham-Number is ranked worse than 63.49% of 1468
companies
in the Software industry
Industry Median: 1.88
vs TSE:4811: 2.71
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.
DreamArts's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
908.00
/
334.85
=
2.71
* 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.
DreamArts Graham Number Related Terms
DreamArts Graham Number Historical Data
* Premium members only.
The historical data trend for DreamArts'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:4811 vs MSFT, PLTR, ORCL: Graham Number Comparison
For the Software - Infrastructure subindustry, DreamArts'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.
DreamArts Price-to-Graham-Number vs Software Industry
For the Software industry and Technology sector, DreamArts's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where DreamArts'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.
DreamArts (TSE:4811) has a Graham Number of 円334.85 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on DreamArts and its competitors. According to the industry distribution chart, DreamArts ranks #932 out of 1468 companies in the Software industry, placing it in the top 63.5%.
Is DreamArts' Graham Number too high?
DreamArts' current Graham Number is 円334.85. Based on the distribution chart, DreamArts ranks #932 out of 1468 companies in the Software industry, which is below the industry midpoint. Overall, DreamArts has a GF Score™ of 39/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does DreamArts' Graham Number compare to MSFT and PLTR?
According to the Software industry distribution chart, DreamArts ranks #932 out of 1468 companies for Graham Number. This places DreamArts in the lower half of its industry. The industry median Graham Number is 1.88. 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 Software company?
The median Graham Number among Software companies is 1.88, based on 1,468 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 DreamArts and its competitors. For the Software industry, the median Graham Number is 1.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. DreamArts's current Graham Number is 円334.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DreamArts stock overvalued right now?
Based on GuruFocus' analysis, DreamArts (TSE:4811) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,151.02, compared to a current price of 円908.00 — trading 21.1% below its estimated fair value. The current Graham Number is 円334.85. DreamArts' overall GF Score™ is 39/100 with 1 warning sign 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 DreamArts (TSE:4811), the current Graham Number is 円334.85 as of Jun. 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 DreamArts (TSE:4811) Overvalued in 2026?
Based on GuruFocus' analysis, DreamArts stock appears to be undervalued.
The current stock price of 円908.00 is trading 21.1% below its estimated GF Value™ of 円1,151.02.
GuruFocus considers DreamArts to be Modestly Undervalued.
Key valuation signals for TSE:4811:
Graham Number: 円334.85
GF Value™: 円1,151.02 vs. price of 円908.00 (21.1% below fair value)
No single metric tells the full story. See the TSE:4811 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
DreamArts Corp is engaged in the development of computer systems and business software. The company also provides SaaS products, such as the no-code development tool SmartDB, and consulting services for business digitalization, mainly targeting the enterprise market. The Group operates through three business segments: the Cloud Business, which offers products including SmartDB, InsuiteX, Shop Ran, and DCR DX Custom Resolution; the On-premise Business, which provides SmartDB Installable; and the Professional Services Business.
39GF Score
Get the complete analysis for TSE:4811
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:4811 has been successfully added to your 
