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KawadenTSE:6648 -2.18%70 Graham Number is 円2,281.71 as of Mar. 2026. GuruFocus rates TSE:6648 with a GF Score™ of 70/100 and a GF Value™ of 円699.30 (Significantly Overvalued). Among 2,221 Industrial Products companies, Kawaden ranks better than 85.05% 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 (2026-09-02), the stock price of Kawaden is 円1664.00. Kawaden's graham number for the quarter that ended in Mar. 2026 was 円2,281.71. Therefore, Kawaden's Price to Graham Number ratio for today is 0.73.
The historical rank and industry rank for Kawaden's Graham Number or its related term are showing as below:
TSE:6648'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.4 Med: 0.46 Max: 1.03
Current: 0.73
During the past 13 years, the highest Price to Graham Number ratio of Kawaden was 1.03. The lowest was 0.40. And the median was 0.46.
TSE:6648's Price-to-Graham-Number is ranked better than 85.05% of 2221
companies
in the Industrial Products industry
Industry Median: 1.75
vs TSE:6648: 0.73
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.
Kawaden's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
1664.00
/
2,274.15
=
0.73
* 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.
Kawaden Graham Number Related Terms
Kawaden Graham Number Historical Data
* Premium members only.
The historical data trend for Kawaden'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:6648 vs GEV, ETN, PH: Graham Number Comparison
For the Specialty Industrial Machinery subindustry, Kawaden'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.
Kawaden Price-to-Graham-Number vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Kawaden's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Kawaden'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.
Kawaden (TSE:6648) has a Graham Number of 円2,281.71 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Kawaden and its competitors. According to the industry distribution chart, Kawaden ranks #332 out of 2221 companies in the Industrial Products industry, placing it in the top 14.9%.
Is Kawaden's Graham Number too high?
Kawaden's current Graham Number is 円2,281.71. Based on the distribution chart, Kawaden ranks #332 out of 2221 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Kawaden has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kawaden's Graham Number compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Kawaden ranks #332 out of 2221 companies for Graham Number. This places Kawaden in the top 15% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.75. 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 1.75, based on 2,221 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 Kawaden and its competitors. For the Industrial Products industry, the median Graham Number is 1.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kawaden's current Graham Number is 円2,281.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kawaden stock overvalued right now?
Based on GuruFocus' analysis, Kawaden (TSE:6648) is currently considered Significantly Overvalued. The stock's GF Value™ is 円699.30, compared to a current price of 円1,664.00 — trading 138% above its estimated fair value. The current Graham Number is 円2,281.71. Kawaden's overall GF Score™ is 70/100. 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 Kawaden (TSE:6648), the current Graham Number is 円2,281.71 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 Kawaden (TSE:6648) Overvalued in 2026?
Based on GuruFocus' analysis, Kawaden stock appears to be overvalued.
The current stock price of 円1,664.00 is trading 138% above its estimated GF Value™ of 円699.30.
GuruFocus considers Kawaden to be Significantly Overvalued.
Key valuation signals for TSE:6648:
Graham Number: 円2,281.71
GF Value™: 円699.30 vs. price of 円1,664.00 (138% above fair value)
No single metric tells the full story. See the TSE:6648 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kawaden Corp is engaged in design, production, and sales of electric cymbal machinery, electrical materials, construction materials, and the design and supervision of electric. The products of the company include voltage switchboard, distribution board, plug breaker compatible, and network compatible. The company operates a single segment, the power distribution control equipment manufacturing business.
70GF Score
Get the complete analysis for TSE:6648
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