Develop GlobalVTEXF 50 Graham Number is $1.52 as of Dec. 2025, which is 10% below its 10-year median of 1.69. GuruFocus rates VTEXF with a GF Score™ of 50/100 and a GF Value™ of $3.43. The stock has 5 warning signs investors should review. Among 611 Metals & Mining companies, Develop Global ranks worse than 80.85% 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 (2026-07-02), the stock price of Develop Global is $3.66. Develop Global's graham number for the quarter that ended in Dec. 2025 was $1.52. Therefore, Develop Global's Price to Graham Number ratio for today is 2.42.
The historical rank and industry rank for Develop Global's Graham Number or its related term are showing as below:
VTEXF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.35 Med: 1.69 Max: 2.71
Current: 2.71
During the past 13 years, the highest Price to Graham Number ratio of Develop Global was 2.71. The lowest was 1.35. And the median was 1.69.
VTEXF's Price-to-Graham-Number is ranked worse than 80.85% of 611
companies
in the Metals & Mining industry
Industry Median: 1.25
vs VTEXF: 2.71
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Develop Global (OTCPK:VTEXF) 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.
Develop Global's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
3.66
/
1.52
=
2.42
* 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.
Develop Global Graham Number Related Terms
Develop Global Graham Number Historical Data
* Premium members only.
The historical data trend for Develop Global'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.
Develop Global Graham Number Competitor Comparison
For the Other Industrial Metals & Mining subindustry, Develop Global'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.
Develop Global Price-to-Graham-Number vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Develop Global's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Develop Global'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.
Develop Global (VTEXF) has a Graham Number of $1.52 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Develop Global and its competitors. This is 10% below median its historical median of 1.69. Over the past decade, Develop Global's Graham Number has ranged from 1.35 to 2.71. According to the industry distribution chart, Develop Global ranks #494 out of 611 companies in the Metals & Mining industry, placing it in the top 80.9%.
Is Develop Global's Graham Number too high?
Develop Global's current Graham Number of $1.52 is 10% below median its 10-year median of 1.69. Over the past 10 years, this metric has ranged from a low of 1.35 to a high of 2.71. The Metals & Mining industry median Graham Number is 1.25. Develop Global's value of $1.52 is 21.6% above this industry median. Based on the distribution chart, Develop Global ranks #494 out of 611 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Develop Global has a GF Score™ of 50/100, reflecting its overall financial health beyond just this single metric.
How does Develop Global's Graham Number compare to competitors?
According to the Metals & Mining industry distribution chart, Develop Global ranks #494 out of 611 companies for Graham Number. This places Develop Global in the lower half of its industry. The industry median Graham Number is 1.25. Develop Global's value of $1.52 is 21.6% above this benchmark. Historically, Develop Global's own Graham Number has ranged from 1.35 to 2.71 over the past decade. While the company's 10-year median is 1.69 vs. the industry median of 1.25, Develop Global has consistently been above the industry average. 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 Metals & Mining company?
The median Graham Number among Metals & Mining companies is 1.25, based on 611 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. Develop Global's current Graham Number of $1.52 is 21.6% 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 Develop Global and its competitors. For the Metals & Mining industry, the median Graham Number is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Develop Global's current Graham Number is $1.52, which is 10% below median its own 10-year median of 1.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Develop Global stock overvalued right now?
Develop Global (VTEXF) has a current Graham Number of $1.52. The stock's GF Value™ is $3.43, compared to a current price of $3.66 — trading 6.7% above its estimated fair value. The current Graham Number is $1.52, which is 10% below median its 10-year median of 1.69 and 21.6% above the Metals & Mining industry median of 1.25. Develop Global's overall GF Score™ is 50/100 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 Develop Global (VTEXF), the current Graham Number is $1.52 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 Develop Global (VTEXF) Overvalued in 2026?
Based on GuruFocus' analysis, Develop Global stock appears to be overvalued.
The current stock price of $3.66 is trading 6.7% above its estimated GF Value™ of $3.43.
Key valuation signals for VTEXF:
Graham Number: $1.52 (10% below median its 10-year median of 1.69)
GF Value™: $3.43 vs. price of $3.66 (6.7% above fair value)
Industry Position: 21.6% above the Metals & Mining median (#494 of 611)
No single metric tells the full story. See the VTEXF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Develop Global Ltd is an Australian company focused on the exploration and development of its advanced zinc-copper projects located near Port Hedland in the premier Pilbara mining province of Western Australia. The company owns two advanced Zinc / Copper projects which include Woodlawn Copper and Sulphur Springs.
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