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.
The historical rank and industry rank for Cleanaway Waste Management's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of Cleanaway Waste Management was 5.83. The lowest was 2.34. And the median was 4.69.
TSPCF's Price-to-Graham-Number is not ranked *
in the Waste Management industry.
Industry Median: 1.43 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Cleanaway Waste Management (OTCPK:TSPCF) 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.
Cleanaway Waste Management's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
1.65
/
N/A
=
N/A
* 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.
Cleanaway Waste Management Graham Number Related Terms
Cleanaway Waste Management Graham Number Historical Data
* 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 Waste Management subindustry, Cleanaway Waste Management'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.
Cleanaway Waste Management Price-to-Graham-Number vs Waste Management Industry
For the Waste Management industry and Industrials sector, Cleanaway Waste Management's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Cleanaway Waste Management'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.
Cleanaway Waste Management (TSPCF) has a Graham Number of $N/A as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Cleanaway Waste Management and its competitors. Over the past decade, Cleanaway Waste Management's Graham Number has ranged from 2.34 to 5.83. According to the industry distribution chart, Cleanaway Waste Management ranks #999999 out of 137 companies in the Waste Management industry.
Is Cleanaway Waste Management's Graham Number too high?
Cleanaway Waste Management's current Graham Number is $N/A. Over the past 10 years, this metric has ranged from a low of 2.34 to a high of 5.83. Based on the distribution chart, Cleanaway Waste Management ranks #999999 out of 137 companies in the Waste Management industry, which is in the bottom quartile relative to peers. Overall, Cleanaway Waste Management has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Cleanaway Waste Management's Graham Number compare to WM and RSG?
According to the Waste Management industry distribution chart, Cleanaway Waste Management ranks #999999 out of 137 companies for Graham Number. This places Cleanaway Waste Management in the lower half of its industry. The industry median Graham Number is 1.43. Historically, Cleanaway Waste Management's own Graham Number has ranged from 2.34 to 5.83 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 a Waste Management company?
The median Graham Number among Waste Management companies is 1.43, based on 137 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 Cleanaway Waste Management and its competitors. For the Waste Management industry, the median Graham Number is 1.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cleanaway Waste Management's current Graham Number is $N/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cleanaway Waste Management stock overvalued right now?
Based on GuruFocus' analysis, Cleanaway Waste Management (TSPCF) is currently considered Modestly Undervalued. The stock's GF Value™ is $2.23, compared to a current price of $1.65 — trading 26% below its estimated fair value. The current Graham Number is $N/A. Cleanaway Waste Management's overall GF Score™ is 87/100 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 Cleanaway Waste Management (TSPCF), the current Graham Number is $N/A 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 Cleanaway Waste Management (TSPCF) Overvalued in 2026?
Based on GuruFocus' analysis, Cleanaway Waste Management stock appears to be undervalued.
The current stock price of $1.65 is trading 26% below its estimated GF Value™ of $2.23.
GuruFocus considers Cleanaway Waste Management to be Modestly Undervalued.
Key valuation signals for TSPCF:
Graham Number: $N/A
GF Value™: $2.23 vs. price of $1.65 (26% below fair value)
No single metric tells the full story. See the TSPCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cleanaway Waste Management is Australia's largest waste management business with a national footprint in the collection and disposal of waste. It is active in municipal and commercial and industrial waste stream segments and in nonhazardous and hazardous liquid and medical waste. While Cleanaway is allocating greater capital to waste processing and treatment, earnings remain skewed toward waste collection. The company is particularly strong in commercial, industrial, and municipal waste collection with strong market share in all large Australian metro waste collection markets.
87GF Score
Get the complete analysis for TSPCF
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSPCF has been successfully added to your 
