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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 (2026-08-28), the stock price of Hyakugo Bank is 円2370.00. Hyakugo Bank's graham number for the quarter that ended in Mar. 2026 was 円2,289.42. Therefore, Hyakugo Bank's Price to Graham Number ratio for today is 0.96.
The historical rank and industry rank for Hyakugo Bank's Graham Number or its related term are showing as below:
TSE:8368'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.24 Med: 0.36 Max: 0.99
Current: 0.95
During the past 13 years, the highest Price to Graham Number ratio of Hyakugo Bank was 0.99. The lowest was 0.24. And the median was 0.36.
TSE:8368's Price-to-Graham-Number is ranked worse than 69.61% of 1425
companies
in the Banks industry
Industry Median: 0.8
vs TSE:8368: 0.95
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.
Hyakugo Bank's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
2370.00
/
2,467.20
=
0.96
* 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.
Hyakugo Bank Graham Number Related Terms
Hyakugo Bank Graham Number Historical Data
* Premium members only.
The historical data trend for Hyakugo Bank'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.
For the Banks - Regional subindustry, Hyakugo Bank'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.
Hyakugo Bank Price-to-Graham-Number vs Banks Industry
For the Banks industry and Financial Services sector, Hyakugo Bank's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Hyakugo Bank'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.
Hyakugo Bank (TSE:8368) has a Graham Number of 円2,289.42 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Hyakugo Bank and its competitors. According to the industry distribution chart, Hyakugo Bank ranks #992 out of 1425 companies in the Banks industry, placing it in the top 69.6%.
Is Hyakugo Bank's Graham Number too high?
Hyakugo Bank's current Graham Number is 円2,289.42. Based on the distribution chart, Hyakugo Bank ranks #992 out of 1425 companies in the Banks industry, which is below the industry midpoint. Overall, Hyakugo Bank has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hyakugo Bank's Graham Number compare to competitors?
According to the Banks industry distribution chart, Hyakugo Bank ranks #992 out of 1425 companies for Graham Number. This places Hyakugo Bank in the lower half of its industry. The industry median Graham Number is 0.80. 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 Banks company?
The median Graham Number among Banks companies is 0.80, based on 1,425 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 Hyakugo Bank and its competitors. For the Banks industry, the median Graham Number is 0.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hyakugo Bank's current Graham Number is 円2,289.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hyakugo Bank stock overvalued right now?
Based on GuruFocus' analysis, Hyakugo Bank (TSE:8368) is currently considered Significantly Overvalued. The stock's GF Value™ is 円929.41, compared to a current price of 円2,370.00 — trading 155% above its estimated fair value. The current Graham Number is 円2,289.42. Hyakugo Bank's overall GF Score™ is 56/100 with 6 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 Hyakugo Bank (TSE:8368), the current Graham Number is 円2,289.42 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 Hyakugo Bank (TSE:8368) Overvalued in 2026?
Based on GuruFocus' analysis, Hyakugo Bank stock appears to be overvalued.
The current stock price of 円2,370.00 is trading 155% above its estimated GF Value™ of 円929.41.
GuruFocus considers Hyakugo Bank to be Significantly Overvalued.
Key valuation signals for TSE:8368:
Graham Number: 円2,289.42
GF Value™: 円929.41 vs. price of 円2,370.00 (155% above fair value)
No single metric tells the full story. See the TSE:8368 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hyakugo Bank Ltd is a Japanese bank that operates primarily in the Mie and Aichi prefectures. The bank's earning assets are just over half in loans and bills discounted and just under half in securities. Its loan portfolio is a diverse mix of loans to individuals, consumers, and small and medium-size companies. Housing loans dominate most loans made to consumers. Most outstanding loans to small and medium-size companies are in the manufacturing, real estate, wholesale and retail, government, financial services, and construction industries. Nearly all of the loans are made in the region the bank operates in. The bank's deposit base mostly originates from individuals.
56GF Score
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