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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 (2026-07-24), the stock price of Veolia Environnement is $20.96. Veolia Environnement's graham number for the quarter that ended in Dec. 2025 was $N/A. Therefore, Veolia Environnement's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for Veolia Environnement's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of Veolia Environnement was 12.50. The lowest was 12.50. And the median was 12.50.
VEOEY's Price-to-Graham-Number is not ranked *
in the Waste Management industry.
Industry Median: 1.36 * 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.
Veolia Environnement (OTCPK:VEOEY) 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.
Veolia Environnement's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
20.96
/
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.
Veolia Environnement Graham Number Related Terms
Veolia Environnement Graham Number Historical Data
* Premium members only.
The historical data trend for Veolia Environnement'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 Waste Management subindustry, Veolia Environnement'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.
Veolia Environnement Price-to-Graham-Number vs Waste Management Industry
For the Waste Management industry and Industrials sector, Veolia Environnement's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Veolia Environnement'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.
Veolia Environnement (VEOEY) 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 Veolia Environnement and its competitors. Over the past decade, Veolia Environnement's Graham Number has ranged from 12.50 to 12.50. According to the industry distribution chart, Veolia Environnement ranks #999999 out of 137 companies in the Waste Management industry.
Is Veolia Environnement's Graham Number too high?
Veolia Environnement's current Graham Number is $N/A. Over the past 10 years, this metric has ranged from a low of 12.50 to a high of 12.50. Based on the distribution chart, Veolia Environnement ranks #999999 out of 137 companies in the Waste Management industry, which is in the bottom quartile relative to peers. Overall, Veolia Environnement has a GF Score™ of 81/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Veolia Environnement's Graham Number compare to WM and RSG?
According to the Waste Management industry distribution chart, Veolia Environnement ranks #999999 out of 137 companies for Graham Number. This places Veolia Environnement in the lower half of its industry. The industry median Graham Number is 1.36. Historically, Veolia Environnement's own Graham Number has ranged from 12.50 to 12.50 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 1.36, 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 Veolia Environnement and its competitors. For the Waste Management industry, the median Graham Number is 1.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Veolia Environnement'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 Veolia Environnement stock overvalued right now?
Based on GuruFocus' analysis, Veolia Environnement (VEOEY) is currently considered Modestly Overvalued. The stock's GF Value™ is $16.88, compared to a current price of $20.96 — trading 24.2% above its estimated fair value. The current Graham Number is $N/A. Veolia Environnement's overall GF Score™ is 81/100 with 10 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 Veolia Environnement (VEOEY), 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 Veolia Environnement (VEOEY) Overvalued in 2026?
Based on GuruFocus' analysis, Veolia Environnement stock appears to be overvalued.
The current stock price of $20.96 is trading 24.2% above its estimated GF Value™ of $16.88.
GuruFocus considers Veolia Environnement to be Modestly Overvalued.
Key valuation signals for VEOEY:
Graham Number: $N/A
GF Value™: $16.88 vs. price of $20.96 (24.2% above fair value)
No single metric tells the full story. See the VEOEY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Veolia is the largest water company globally and a leading player in France. It is also involved in waste management with significant exposure to France, the United Kingdom, Germany, the United States, and Australia. The third pillar of the group is energy services, giving the group significant exposure to Central Europe. Veolia started to refocus its activities in 2011, leading to the exit of almost half of its countries and its transport activity The integration of most activities of Suez in 2022 drove an EBITDA increase of nearly 40%.
81GF Score
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