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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 (2026-09-04), the stock price of VOC Energy Trust is $3.29. VOC Energy Trust's graham number for the quarter that ended in Jun. 2026 was $2.21. Therefore, VOC Energy Trust's Price to Graham Number ratio for today is 1.49.
The historical rank and industry rank for VOC Energy Trust's Graham Number or its related term are showing as below:
VOC'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.37 Med: 1.06 Max: 2.26
Current: 1.49
During the past 13 years, the highest Price to Graham Number ratio of VOC Energy Trust was 2.26. The lowest was 0.37. And the median was 1.06.
VOC's Price-to-Graham-Number is ranked worse than 67.83% of 628
companies
in the Oil & Gas industry
Industry Median: 1.11
vs VOC: 1.49
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
VOC Energy Trust (NYSE:VOC) 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.
VOC Energy Trust's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
3.29
/
2.21
=
1.49
* 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.
VOC Energy Trust Graham Number Related Terms
VOC Energy Trust Graham Number Historical Data
* Premium members only.
The historical data trend for VOC Energy Trust'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 Oil & Gas E&P subindustry, VOC Energy Trust'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.
VOC Energy Trust Price-to-Graham-Number vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, VOC Energy Trust's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where VOC Energy Trust'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.
VOC Energy Trust (VOC) has a Graham Number of $2.21 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on VOC Energy Trust and its competitors. According to the industry distribution chart, VOC Energy Trust ranks #426 out of 628 companies in the Oil & Gas industry, placing it in the top 67.8%.
Is VOC Energy Trust's Graham Number too high?
VOC Energy Trust's current Graham Number is $2.21. The Oil & Gas industry median Graham Number is 1.11. VOC Energy Trust's value of $2.21 is 99.1% above this industry median. Based on the distribution chart, VOC Energy Trust ranks #426 out of 628 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, VOC Energy Trust has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does VOC Energy Trust's Graham Number compare to LRDC and GLND?
According to the Oil & Gas industry distribution chart, VOC Energy Trust ranks #426 out of 628 companies for Graham Number. This places VOC Energy Trust in the lower half of its industry. The industry median Graham Number is 1.11. VOC Energy Trust's value of $2.21 is 99.1% above this benchmark. 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 1.11, based on 628 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. VOC Energy Trust's current Graham Number of $2.21 is 99.1% above the industry median. 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 VOC Energy Trust and its competitors. For the Oil & Gas industry, the median Graham Number is 1.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VOC Energy Trust's current Graham Number is $2.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VOC Energy Trust stock overvalued right now?
Based on GuruFocus' analysis, VOC Energy Trust (VOC) is currently considered Significantly Overvalued. The stock's GF Value™ is $2.45, compared to a current price of $3.29 — trading 34.3% above its estimated fair value. The current Graham Number is $2.21 and 99.1% above the Oil & Gas industry median of 1.11. VOC Energy Trust's overall GF Score™ is 77/100 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 VOC Energy Trust (VOC), the current Graham Number is $2.21 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 VOC Energy Trust (VOC) Overvalued in 2026?
Based on GuruFocus' analysis, VOC Energy Trust stock appears to be overvalued.
The current stock price of $3.29 is trading 34.3% above its estimated GF Value™ of $2.45.
GuruFocus considers VOC Energy Trust to be Significantly Overvalued.
Key valuation signals for VOC:
Graham Number: $2.21
GF Value™: $2.45 vs. price of $3.29 (34.3% above fair value)
Industry Position: 99.1% above the Oil & Gas median (#426 of 628)
No single metric tells the full story. See the VOC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
VOC Energy Trust is a statutory trust. It is created to acquire and hold a term net profits interest for the benefit of the Trust unitholders. The underlying properties include VOC Brazos' net interests which are located in the states of Kansas and Texas. The trust is entitled to receive the net proceeds from the sale of production of oil and natural gas attributable to the underlying properties. The business and affairs of the Trust are managed by the Trustee, and neither VOC Brazos nor any of its affiliates has the ability to manage or influence the operations of the Trust. It operates in a single operating and reportable segment.
77GF Score
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