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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 Estic is 円1090.00. Estic's graham number for the quarter that ended in Mar. 2026 was 円1,715.83. Therefore, Estic's Price to Graham Number ratio for today is 0.60.
The historical rank and industry rank for Estic's Graham Number or its related term are showing as below:
TSE:6161'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.53 Med: 0.88 Max: 1.42
Current: 0.6
During the past 13 years, the highest Price to Graham Number ratio of Estic was 1.42. The lowest was 0.53. And the median was 0.88.
TSE:6161's Price-to-Graham-Number is ranked better than 89.87% of 2231
companies
in the Industrial Products industry
Industry Median: 1.74
vs TSE:6161: 0.60
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.
Estic's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
1090.00
/
1,820.80
=
0.60
* 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.
Estic Graham Number Related Terms
Estic Graham Number Historical Data
* Premium members only.
The historical data trend for Estic'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:6161 vs GEV, ETN, PH: Graham Number Comparison
For the Specialty Industrial Machinery subindustry, Estic'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.
Estic Price-to-Graham-Number vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Estic's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Estic'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.
Estic (TSE:6161) has a Graham Number of 円1,715.83 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Estic and its competitors. According to the industry distribution chart, Estic ranks #226 out of 2231 companies in the Industrial Products industry, placing it in the top 10.1%.
Is Estic's Graham Number too high?
Estic's current Graham Number is 円1,715.83. Based on the distribution chart, Estic ranks #226 out of 2231 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Estic has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Estic's Graham Number compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Estic ranks #226 out of 2231 companies for Graham Number. This places Estic in the top 10% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.74. 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 1.74, based on 2,231 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 Estic and its competitors. For the Industrial Products industry, the median Graham Number is 1.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Estic's current Graham Number is 円1,715.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Estic stock overvalued right now?
Based on GuruFocus' analysis, Estic (TSE:6161) is currently considered Fairly Valued. The stock's GF Value™ is 円1,067.95, compared to a current price of 円1,090.00 — trading 2.1% above its estimated fair value. The current Graham Number is 円1,715.83. Estic's overall GF Score™ is 86/100 with 4 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 Estic (TSE:6161), the current Graham Number is 円1,715.83 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 Estic (TSE:6161) Overvalued in 2026?
Based on GuruFocus' analysis, Estic stock appears to be overvalued.
The current stock price of 円1,090.00 is trading 2.1% above its estimated GF Value™ of 円1,067.95.
GuruFocus considers Estic to be Fairly Valued.
Key valuation signals for TSE:6161:
Graham Number: 円1,715.83
GF Value™: 円1,067.95 vs. price of 円1,090.00 (2.1% above fair value)
No single metric tells the full story. See the TSE:6161 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Estic Corp is a Japan-based company operating in the machine industry. It is mainly engaged in developing, manufacturing and selling tools and facilities that contribute to quality control in various product assembly processing in the automotive industry and in other sectors. Products offered by the company include servo nutrunner, handheld nutrunner, servo press, and automated machines for the engine, vehicle assembly, transmission, and other applications. The company sells its products in Japan and overseas markets. Estic has a world-wide network with presence in Europe, Africa, Asia, Oceania, and America.
86GF Score
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