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 (2026-08-25), the stock price of Nippon Chuzo K.K. is 円918.00. Nippon Chuzo K.K.'s graham number for the quarter that ended in Mar. 2026 was 円1,708.13. Therefore, Nippon Chuzo K.K.'s Price to Graham Number ratio for today is 0.65.
The historical rank and industry rank for Nippon Chuzo K.K.'s Graham Number or its related term are showing as below:
TSE:5609'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.3 Med: 0.36 Max: 1.18
Current: 0.65
During the past 13 years, the highest Price to Graham Number ratio of Nippon Chuzo K.K. was 1.18. The lowest was 0.30. And the median was 0.36.
TSE:5609's Price-to-Graham-Number is ranked better than 68.45% of 431
companies
in the Steel industry
Industry Median: 0.96
vs TSE:5609: 0.65
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Nippon Chuzo K.K. (TSE:5609) 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.
Nippon Chuzo K.K.'s Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
918.00
/
1,414.64
=
0.65
* 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.
Nippon Chuzo K.K. Graham Number Related Terms
Nippon Chuzo K.K. Graham Number Historical Data
* Premium members only.
The historical data trend for Nippon Chuzo K.K.'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:5609 vs NUE, STLD, RS: Graham Number Comparison
For the Steel subindustry, Nippon Chuzo K.K.'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.
Nippon Chuzo K.K. Price-to-Graham-Number vs Steel Industry
For the Steel industry and Basic Materials sector, Nippon Chuzo K.K.'s Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Nippon Chuzo K.K.'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.
Nippon Chuzo K.K. (TSE:5609) has a Graham Number of 円1,708.13 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Nippon Chuzo K.K. and its competitors. According to the industry distribution chart, Nippon Chuzo K.K. ranks #136 out of 431 companies in the Steel industry, placing it in the top 31.6%.
Is Nippon Chuzo K.K.'s Graham Number too high?
Nippon Chuzo K.K.'s current Graham Number is 円1,708.13. Based on the distribution chart, Nippon Chuzo K.K. ranks #136 out of 431 companies in the Steel industry, which is above the industry midpoint. Overall, Nippon Chuzo K.K. has a GF Score™ of 65/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nippon Chuzo K.K.'s Graham Number compare to NUE and STLD?
According to the Steel industry distribution chart, Nippon Chuzo K.K. ranks #136 out of 431 companies for Graham Number. This puts Nippon Chuzo K.K. in the upper half of its industry. The industry median Graham Number is 0.96. 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 Steel company?
The median Graham Number among Steel companies is 0.96, based on 431 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 Nippon Chuzo K.K. and its competitors. For the Steel industry, the median Graham Number is 0.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nippon Chuzo K.K.'s current Graham Number is 円1,708.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nippon Chuzo K.K. stock overvalued right now?
Based on GuruFocus' analysis, Nippon Chuzo K.K. (TSE:5609) is currently considered Modestly Overvalued. The stock's GF Value™ is 円741.36, compared to a current price of 円918.00 — trading 23.8% above its estimated fair value. The current Graham Number is 円1,708.13. Nippon Chuzo K.K.'s overall GF Score™ is 65/100 with 7 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 Nippon Chuzo K.K. (TSE:5609), the current Graham Number is 円1,708.13 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 Nippon Chuzo K.K. (TSE:5609) Overvalued in 2026?
Based on GuruFocus' analysis, Nippon Chuzo K.K. stock appears to be overvalued.
The current stock price of 円918.00 is trading 23.8% above its estimated GF Value™ of 円741.36.
GuruFocus considers Nippon Chuzo K.K. to be Modestly Overvalued.
Key valuation signals for TSE:5609:
Graham Number: 円1,708.13
GF Value™: 円741.36 vs. price of 円918.00 (23.8% above fair value)
No single metric tells the full story. See the TSE:5609 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nippon Chuzo K.K. is a Japan-based company mainly engaged in the manufacturing and sale of forged products. It operates in three business divisions, including the Material product division that is engaged in the manufacturing of castings and fabricated materials, particularly for casting machinery. The Engineering division designs and manufactures bridge support and expansion device. And the Construction materials division manages fixed column foot construction.
65GF Score
Get the complete analysis for TSE:5609
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:5609 has been successfully added to your 
