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Nagaoka InternationalTSE:6239 -1.48%68 Graham Number is 円1,554.76 as of Dec. 2025, which is 100% below its 10-year median of 0.77. GuruFocus rates TSE:6239 with a GF Score™ of 68/100 and a GF Value™ of 円1,183.42 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 624 Oil & Gas companies, Nagaoka International ranks better than 60.26% 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 (2026-08-14), the stock price of Nagaoka International is 円1400.00. Nagaoka International's graham number for the quarter that ended in Dec. 2025 was 円1,554.76. Therefore, Nagaoka International's Price to Graham Number ratio for today is 0.92.
The historical rank and industry rank for Nagaoka International's Graham Number or its related term are showing as below:
TSE:6239'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.47 Med: 0.77 Max: 2.45
Current: 0.91
During the past 12 years, the highest Price to Graham Number ratio of Nagaoka International was 2.45. The lowest was 0.47. And the median was 0.77.
TSE:6239's Price-to-Graham-Number is ranked better than 60.26% of 624
companies
in the Oil & Gas industry
Industry Median: 1.08
vs TSE:6239: 0.91
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Nagaoka International (TSE:6239) 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.
Nagaoka International's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
1400.00
/
1,514.05
=
0.92
* 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.
Nagaoka International Graham Number Related Terms
Nagaoka International Graham Number Historical Data
* Premium members only.
The historical data trend for Nagaoka International'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:6239 vs MPC, VLO, PSX: Graham Number Comparison
For the Oil & Gas Refining & Marketing subindustry, Nagaoka International'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.
Nagaoka International Price-to-Graham-Number vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Nagaoka International's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Nagaoka International'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.
Nagaoka International (TSE:6239) has a Graham Number of 円1,554.76 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Nagaoka International and its competitors. This is 201817% above median its historical median of 0.77. Over the past decade, Nagaoka International's Graham Number has ranged from 0.47 to 2.45. According to the industry distribution chart, Nagaoka International ranks #248 out of 624 companies in the Oil & Gas industry, placing it in the top 39.7%.
Is Nagaoka International's Graham Number too high?
Nagaoka International's current Graham Number of 円1,554.76 is 201817% above median its 10-year median of 0.77. Over the past 10 years, this metric has ranged from a low of 0.47 to a high of 2.45. Based on the distribution chart, Nagaoka International ranks #248 out of 624 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Nagaoka International has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nagaoka International's Graham Number compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, Nagaoka International ranks #248 out of 624 companies for Graham Number. This puts Nagaoka International in the upper half of its industry. The industry median Graham Number is 1.08. Historically, Nagaoka International's own Graham Number has ranged from 0.47 to 2.45 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 Oil & Gas company?
The median Graham Number among Oil & Gas companies is 1.08, based on 624 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 Nagaoka International and its competitors. For the Oil & Gas industry, the median Graham Number is 1.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nagaoka International's current Graham Number is 円1,554.76, which is 201817% above median its own 10-year median of 0.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nagaoka International stock overvalued right now?
Based on GuruFocus' analysis, Nagaoka International (TSE:6239) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,183.42, compared to a current price of 円1,400.00 — trading 18.3% above its estimated fair value. The current Graham Number is 円1,554.76, which is 201817% above median its 10-year median of 0.77. Nagaoka International's overall GF Score™ is 68/100 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 Nagaoka International (TSE:6239), the current Graham Number is 円1,554.76 as of Dec. 2025. 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 Nagaoka International (TSE:6239) Overvalued in 2026?
Based on GuruFocus' analysis, Nagaoka International stock appears to be overvalued.
The current stock price of 円1,400.00 is trading 18.3% above its estimated GF Value™ of 円1,183.42.
GuruFocus considers Nagaoka International to be Modestly Overvalued.
Key valuation signals for TSE:6239:
Graham Number: 円1,554.76 (201817% above median its 10-year median of 0.77)
GF Value™: 円1,183.42 vs. price of 円1,400.00 (18.3% above fair value)
No single metric tells the full story. See the TSE:6239 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nagaoka International Corp is engaged in the manufacturing and sale of equipment and systems for energy and water-related industries. The company has two reportable segments: energy-related business and water-related business. The energy-related business focuses on producing screen internals and internal equipment for oil refineries and petrochemical plants. The water-related business is involved in the manufacture and sale of water intake screens, Chemiless and Hisys systems, and the construction of water treatment plants. It generates the majority of its revenue from the Energy-related business segment.
68GF Score
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