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NikkatoTSE:5367 -2.05%60 Graham Number is 円1,330.90 as of Mar. 2026, which is 100% below its 10-year median of 0.51. GuruFocus rates TSE:5367 with a GF Score™ of 60/100 and a GF Value™ of 円635.92 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 2,211 Industrial Products companies, Nikkato ranks better than 79.15% on this metric.
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 (2026-08-08), the stock price of Nikkato is 円1192.00. Nikkato's graham number for the quarter that ended in Mar. 2026 was 円1,330.90. Therefore, Nikkato's Price to Graham Number ratio for today is 0.90.
The historical rank and industry rank for Nikkato's Graham Number or its related term are showing as below:
TSE:5367'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.48 Med: 0.51 Max: 1.08
Current: 0.9
During the past 13 years, the highest Price to Graham Number ratio of Nikkato was 1.08. The lowest was 0.48. And the median was 0.51.
TSE:5367's Price-to-Graham-Number is ranked better than 79.15% of 2211
companies
in the Industrial Products industry
Industry Median: 1.79
vs TSE:5367: 0.90
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.
Nikkato's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
1192.00
/
1,330.90
=
0.90
* 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.
Nikkato Graham Number Related Terms
Nikkato Graham Number Historical Data
* Premium members only.
The historical data trend for Nikkato'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:5367 vs GEV, ETN, PH: Graham Number Comparison
For the Specialty Industrial Machinery subindustry, Nikkato'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.
Nikkato Price-to-Graham-Number vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Nikkato's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Nikkato'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.
Nikkato (TSE:5367) has a Graham Number of 円1,330.90 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Nikkato and its competitors. This is 260861% above median its historical median of 0.51. Over the past decade, Nikkato's Graham Number has ranged from 0.48 to 1.08. According to the industry distribution chart, Nikkato ranks #461 out of 2211 companies in the Industrial Products industry, placing it in the top 20.9%.
Is Nikkato's Graham Number too high?
Nikkato's current Graham Number of 円1,330.90 is 260861% above median its 10-year median of 0.51. Over the past 10 years, this metric has ranged from a low of 0.48 to a high of 1.08. Based on the distribution chart, Nikkato ranks #461 out of 2211 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Nikkato has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nikkato's Graham Number compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Nikkato ranks #461 out of 2211 companies for Graham Number. This places Nikkato in the top 21% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.79. Historically, Nikkato's own Graham Number has ranged from 0.48 to 1.08 over the past decade. 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 Industrial Products company?
The median Graham Number among Industrial Products companies is 1.79, based on 2,211 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 Nikkato and its competitors. For the Industrial Products industry, the median Graham Number is 1.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nikkato's current Graham Number is 円1,330.90, which is 260861% above median its own 10-year median of 0.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nikkato stock overvalued right now?
Based on GuruFocus' analysis, Nikkato (TSE:5367) is currently considered Significantly Overvalued. The stock's GF Value™ is 円635.92, compared to a current price of 円1,192.00 — trading 87.4% above its estimated fair value. The current Graham Number is 円1,330.90, which is 260861% above median its 10-year median of 0.51. Nikkato's overall GF Score™ is 60/100 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 Nikkato (TSE:5367), the current Graham Number is 円1,330.90 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 Nikkato (TSE:5367) Overvalued in 2026?
Based on GuruFocus' analysis, Nikkato stock appears to be overvalued.
The current stock price of 円1,192.00 is trading 87.4% above its estimated GF Value™ of 円635.92.
GuruFocus considers Nikkato to be Significantly Overvalued.
Key valuation signals for TSE:5367:
Graham Number: 円1,330.90 (260861% above median its 10-year median of 0.51)
GF Value™: 円635.92 vs. price of 円1,192.00 (87.4% above fair value)
No single metric tells the full story. See the TSE:5367 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nikkato Corp engages in the manufacture and sale of ceramics for industrial and laboratory use; measurement and control equipment; and various kinds of electric furnaces. The Ceramics products include functional ceramics, including thermal heating elements, oxygen sensors and ceramics filters; abrasion-resistant ceramics, including ball mills and crushing balls and components; heat-resistant ceramics, core tubes, transportation rollers and heat-treatment equipment and instruments; as well as physical and chemical ceramics, including evaporating dishes, crucibles and ceramics for experimental purposes. The firm also purchases and sells heating systems, including electric furnaces, vacuum furnaces and thermal treatment equipment; measuring systems, as well as measurement controllers.
60GF Score
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