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ARC ResourcesTSX:ARX +1.29%64 Graham Number is C$28.83 as of Jun. 2026, which is 100% below its 10-year median of 0.98. GuruFocus rates TSX:ARX with a GF Score™ of 64/100 and a GF Value™ of C$33.12 (Fairly Valued). The stock has 7 warning signs investors should review. Among 621 Oil & Gas companies, ARC Resources ranks worse than 52.5% 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 (2026-08-11), the stock price of ARC Resources is C$32.91. ARC Resources's graham number for the quarter that ended in Jun. 2026 was C$28.83. Therefore, ARC Resources's Price to Graham Number ratio for today is 1.14.
The historical rank and industry rank for ARC Resources's Graham Number or its related term are showing as below:
TSX:ARX'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.46 Med: 0.98 Max: 9.47
Current: 1.14
During the past 13 years, the highest Price to Graham Number ratio of ARC Resources was 9.47. The lowest was 0.46. And the median was 0.98.
TSX:ARX's Price-to-Graham-Number is ranked worse than 52.5% of 621
companies
in the Oil & Gas industry
Industry Median: 1.09
vs TSX:ARX: 1.14
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.
ARC Resources's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
32.91
/
28.83
=
1.14
* 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.
ARC Resources Graham Number Related Terms
ARC Resources Graham Number Historical Data
* Premium members only.
The historical data trend for ARC Resources'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:ARX vs COP, EOG, FANG: Graham Number Comparison
For the Oil & Gas E&P subindustry, ARC Resources'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.
ARC Resources Price-to-Graham-Number vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, ARC Resources's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where ARC Resources'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.
ARC Resources (TSX:ARX) has a Graham Number of C$28.83 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on ARC Resources and its competitors. This is 2842% above median its historical median of 0.98. Over the past decade, ARC Resources' Graham Number has ranged from 0.46 to 9.47. According to the industry distribution chart, ARC Resources ranks #326 out of 621 companies in the Oil & Gas industry, placing it in the top 52.5%.
Is ARC Resources' Graham Number too high?
ARC Resources' current Graham Number of C$28.83 is 2842% above median its 10-year median of 0.98. Over the past 10 years, this metric has ranged from a low of 0.46 to a high of 9.47. Based on the distribution chart, ARC Resources ranks #326 out of 621 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, ARC Resources has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does ARC Resources' Graham Number compare to COP and EOG?
According to the Oil & Gas industry distribution chart, ARC Resources ranks #326 out of 621 companies for Graham Number. This places ARC Resources in the lower half of its industry. The industry median Graham Number is 1.09. Historically, ARC Resources' own Graham Number has ranged from 0.46 to 9.47 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 1.09, based on 621 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 ARC Resources and its competitors. For the Oil & Gas industry, the median Graham Number is 1.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ARC Resources's current Graham Number is C$28.83, which is 2842% above median its own 10-year median of 0.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ARC Resources stock overvalued right now?
Based on GuruFocus' analysis, ARC Resources (TSX:ARX) is currently considered Fairly Valued. The stock's GF Value™ is C$33.12, compared to a current price of C$32.91 — trading 0.6% below its estimated fair value. The current Graham Number is C$28.83, which is 2842% above median its 10-year median of 0.98. ARC Resources' overall GF Score™ is 64/100 with 7 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 ARC Resources (TSX:ARX), the current Graham Number is C$28.83 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 ARC Resources (TSX:ARX) Overvalued in 2026?
Based on GuruFocus' analysis, ARC Resources stock appears to be undervalued.
The current stock price of C$32.91 is trading 0.6% below its estimated GF Value™ of C$33.12.
GuruFocus considers ARC Resources to be Fairly Valued.
Key valuation signals for TSX:ARX:
Graham Number: C$28.83 (2842% above median its 10-year median of 0.98)
GF Value™: C$33.12 vs. price of C$32.91 (0.6% below fair value)
No single metric tells the full story. See the TSX:ARX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Arc Resources is a natural gas and condensate-focused producer in the Western Canada Sedimentary Basin. Its most valuable product by revenue, condensate, is a necessary feedstock for the oil industry. Natural gas is the largest product by volume, and the firm actively markets it through pipeline and liquefied natural gas agreements, seeking to limit in-basin pricing. It also operates its own processing assets. In 2024, production was 348 thousand barrels of oil equivalent per day.
64GF Score
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