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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 (2026-09-05), the stock price of Forval RealStraight is 円104.00. Forval RealStraight's graham number for the quarter that ended in Mar. 2026 was 円54.69. Therefore, Forval RealStraight's Price to Graham Number ratio for today is 1.56.
The historical rank and industry rank for Forval RealStraight's Graham Number or its related term are showing as below:
TSE:9423'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.61 Med: 2.71 Max: 4.8
Current: 1.62
During the past 13 years, the highest Price to Graham Number ratio of Forval RealStraight was 4.80. The lowest was 1.61. And the median was 2.71.
TSE:9423's Price-to-Graham-Number is ranked worse than 81.68% of 1152
companies
in the Real Estate industry
Industry Median: 0.73
vs TSE:9423: 1.62
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Forval RealStraight (TSE:9423) 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.
Forval RealStraight's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
104.00
/
66.71
=
1.56
* 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.
Forval RealStraight Graham Number Related Terms
Forval RealStraight Graham Number Historical Data
* Premium members only.
The historical data trend for Forval RealStraight'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:9423 vs CBRE, BEKE, JLL: Graham Number Comparison
For the Real Estate Services subindustry, Forval RealStraight'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.
Forval RealStraight Price-to-Graham-Number vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Forval RealStraight's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Forval RealStraight'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.
Forval RealStraight (TSE:9423) has a Graham Number of 円54.69 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Forval RealStraight and its competitors. According to the industry distribution chart, Forval RealStraight ranks #941 out of 1152 companies in the Real Estate industry, placing it in the top 81.7%.
Is Forval RealStraight's Graham Number too high?
Forval RealStraight's current Graham Number is 円54.69. Based on the distribution chart, Forval RealStraight ranks #941 out of 1152 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Forval RealStraight has a GF Score™ of 75/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Forval RealStraight's Graham Number compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Forval RealStraight ranks #941 out of 1152 companies for Graham Number. This places Forval RealStraight in the lower half of its industry. The industry median Graham Number is 0.73. 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 Real Estate company?
The median Graham Number among Real Estate companies is 0.73, based on 1,152 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 Forval RealStraight and its competitors. For the Real Estate industry, the median Graham Number is 0.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forval RealStraight's current Graham Number is 円54.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forval RealStraight stock overvalued right now?
Based on GuruFocus' analysis, Forval RealStraight (TSE:9423) is currently considered Significantly Undervalued. The stock's GF Value™ is 円165.30, compared to a current price of 円104.00 — trading 37.1% below its estimated fair value. The current Graham Number is 円54.69. Forval RealStraight's overall GF Score™ is 75/100 with 3 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 Forval RealStraight (TSE:9423), the current Graham Number is 円54.69 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 Forval RealStraight (TSE:9423) Overvalued in 2026?
Based on GuruFocus' analysis, Forval RealStraight stock appears to be undervalued.
The current stock price of 円104.00 is trading 37.1% below its estimated GF Value™ of 円165.30.
GuruFocus considers Forval RealStraight to be Significantly Undervalued.
Key valuation signals for TSE:9423:
Graham Number: 円54.69
GF Value™: 円165.30 vs. price of 円104.00 (37.1% below fair value)
No single metric tells the full story. See the TSE:9423 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forval RealStraight Inc is a real estate service provider. The business of the company includes real estate brokerage, office relocation support services, and sales of OA communication equipment.
75GF Score
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