Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Advantage EnergyTSX:AAV +1.00%86 Graham Number is C$6.41 as of Jun. 2026, which is 100% below its 10-year median of 0.94. GuruFocus rates TSX:AAV with a GF Score™ of 86/100 and a GF Value™ of C$11.87 (Fairly Valued). The stock has 5 warning signs investors should review. Among 623 Oil & Gas companies, Advantage Energy ranks worse than 73.03% 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 (2026-08-13), the stock price of Advantage Energy is C$11.11. Advantage Energy's graham number for the quarter that ended in Jun. 2026 was C$6.41. Therefore, Advantage Energy's Price to Graham Number ratio for today is 1.73.
The historical rank and industry rank for Advantage Energy's Graham Number or its related term are showing as below:
TSX:AAV'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.4 Med: 0.94 Max: 4.48
Current: 1.73
During the past 13 years, the highest Price to Graham Number ratio of Advantage Energy was 4.48. The lowest was 0.40. And the median was 0.94.
TSX:AAV's Price-to-Graham-Number is ranked worse than 73.03% of 623
companies
in the Oil & Gas industry
Industry Median: 1.08
vs TSX:AAV: 1.73
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Advantage Energy (TSX:AAV) 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.
Advantage Energy's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
11.11
/
6.41
=
1.73
* 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.
Advantage Energy Graham Number Related Terms
Advantage Energy Graham Number Historical Data
* Premium members only.
The historical data trend for Advantage Energy'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.
TSX:AAV vs COP, EOG, FANG: Graham Number Comparison
For the Oil & Gas E&P subindustry, Advantage Energy'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.
Advantage Energy Price-to-Graham-Number vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Advantage Energy's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Advantage Energy'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.
Advantage Energy (TSX:AAV) has a Graham Number of C$6.41 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Advantage Energy and its competitors. This is 582% above median its historical median of 0.94. Over the past decade, Advantage Energy's Graham Number has ranged from 0.40 to 4.48. According to the industry distribution chart, Advantage Energy ranks #455 out of 623 companies in the Oil & Gas industry, placing it in the top 73%.
Is Advantage Energy's Graham Number too high?
Advantage Energy's current Graham Number of C$6.41 is 582% above median its 10-year median of 0.94. Over the past 10 years, this metric has ranged from a low of 0.40 to a high of 4.48. Based on the distribution chart, Advantage Energy ranks #455 out of 623 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Advantage Energy has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Advantage Energy's Graham Number compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Advantage Energy ranks #455 out of 623 companies for Graham Number. This places Advantage Energy in the lower half of its industry. The industry median Graham Number is 1.08. Historically, Advantage Energy's own Graham Number has ranged from 0.40 to 4.48 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 623 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 Advantage Energy 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. Advantage Energy's current Graham Number is C$6.41, which is 582% above median its own 10-year median of 0.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Advantage Energy stock overvalued right now?
Based on GuruFocus' analysis, Advantage Energy (TSX:AAV) is currently considered Fairly Valued. The stock's GF Value™ is C$11.87, compared to a current price of C$11.11 — trading 6.4% below its estimated fair value. The current Graham Number is C$6.41, which is 582% above median its 10-year median of 0.94. Advantage Energy's overall GF Score™ is 86/100 with 5 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 Advantage Energy (TSX:AAV), the current Graham Number is C$6.41 as of Jun. 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 Advantage Energy (TSX:AAV) Overvalued in 2026?
Based on GuruFocus' analysis, Advantage Energy stock appears to be undervalued.
The current stock price of C$11.11 is trading 6.4% below its estimated GF Value™ of C$11.87.
GuruFocus considers Advantage Energy to be Fairly Valued.
Key valuation signals for TSX:AAV:
Graham Number: C$6.41 (582% above median its 10-year median of 0.94)
GF Value™: C$11.87 vs. price of C$11.11 (6.4% below fair value)
No single metric tells the full story. See the TSX:AAV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Advantage Energy Ltd is an energy producer with a position in the Western Canadian Sedimentary Basin. Additionally, it provides carbon capture and storage (CCS) solutions to emitters of carbon dioxide through its subsidiary. Its segments include Advantage (natural gas and liquids producer) engaged in the business of natural gas, crude oil and liquids production from its Montney and Charlie Lake resource plays in Alberta and B.C.; and Entropy (carbon capture and storage) provides carbon capture and storage solutions to emitters of carbon dioxide. Entropy captures and sequesters carbon at Advantage's Glacier Gas Plant.
86GF Score
Get the complete analysis for TSX:AAV
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
TSX:AAV has been successfully added to your 
