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.
The historical rank and industry rank for Asseco South Eastern Europe's Graham Number or its related term are showing as below:
WAR:ASE'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.94 Med: 2.12 Max: 4.56
Current: 3.98
During the past 13 years, the highest Price to Graham Number ratio of Asseco South Eastern Europe was 4.56. The lowest was 0.94. And the median was 2.12.
WAR:ASE's Price-to-Graham-Number is ranked worse than 79.29% of 1468
companies
in the Software industry
Industry Median: 1.86
vs WAR:ASE: 3.98
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Asseco South Eastern Europe (WAR:ASE) 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.
Asseco South Eastern Europe's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
59.50
/
14.95
=
3.98
* 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.
Asseco South Eastern Europe Graham Number Related Terms
Asseco South Eastern Europe Graham Number Historical Data
* 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.
WAR:ASE vs UBER, SHOP, CRM: Graham Number Comparison
For the Software - Application subindustry, Asseco South Eastern Europe'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.
Asseco South Eastern Europe Price-to-Graham-Number vs Software Industry
For the Software industry and Technology sector, Asseco South Eastern Europe's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Asseco South Eastern Europe'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.
Asseco South Eastern Europe (WAR:ASE) has a Graham Number of zł14.95 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Asseco South Eastern Europe and its competitors. This is 605% above median its historical median of 2.12. Over the past decade, Asseco South Eastern Europe's Graham Number has ranged from 0.94 to 4.56. According to the industry distribution chart, Asseco South Eastern Europe ranks #1164 out of 1468 companies in the Software industry, placing it in the top 79.3%.
Is Asseco South Eastern Europe's Graham Number too high?
Asseco South Eastern Europe's current Graham Number of zł14.95 is 605% above median its 10-year median of 2.12. Over the past 10 years, this metric has ranged from a low of 0.94 to a high of 4.56. Based on the distribution chart, Asseco South Eastern Europe ranks #1164 out of 1468 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Asseco South Eastern Europe has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Asseco South Eastern Europe's Graham Number compare to UBER and SHOP?
According to the Software industry distribution chart, Asseco South Eastern Europe ranks #1164 out of 1468 companies for Graham Number. This places Asseco South Eastern Europe in the lower half of its industry. The industry median Graham Number is 1.86. Historically, Asseco South Eastern Europe's own Graham Number has ranged from 0.94 to 4.56 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 Software company?
The median Graham Number among Software companies is 1.86, based on 1,468 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 Asseco South Eastern Europe and its competitors. For the Software industry, the median Graham Number is 1.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asseco South Eastern Europe's current Graham Number is zł14.95, which is 605% above median its own 10-year median of 2.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asseco South Eastern Europe stock overvalued right now?
Based on GuruFocus' analysis, Asseco South Eastern Europe (WAR:ASE) is currently considered Fairly Valued. The stock's GF Value™ is zł59.22, compared to a current price of zł59.50 — trading 0.5% above its estimated fair value. The current Graham Number is zł14.95, which is 605% above median its 10-year median of 2.12. Asseco South Eastern Europe's overall GF Score™ is 84/100 with 3 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 Asseco South Eastern Europe (WAR:ASE), the current Graham Number is zł14.95 as of Mar. 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 Asseco South Eastern Europe (WAR:ASE) Overvalued in 2026?
Based on GuruFocus' analysis, Asseco South Eastern Europe stock appears to be overvalued.
The current stock price of zł59.50 is trading 0.5% above its estimated GF Value™ of zł59.22.
GuruFocus considers Asseco South Eastern Europe to be Fairly Valued.
Key valuation signals for WAR:ASE:
Graham Number: zł14.95 (605% above median its 10-year median of 2.12)
GF Value™: zł59.22 vs. price of zł59.50 (0.5% above fair value)
No single metric tells the full story. See the WAR:ASE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asseco South Eastern Europe SA along with its subsidiaries provides implementation, integration and outsourcing services. It conducts business operations in the markets of Poland, South Eastern Europe, and Turkey. Its business is divided into three operating segments. Banking Solutions segment deals with integrated banking systems based on the Oracle and Microsoft platforms, including primarily core banking systems. Payment Solutions is engaged in the sale and maintenance of ATMs and POS terminals (point of sale) as well as in the provision of related support services. Systems Integration segment is engaged in the development of customized IT systems, integration of third-party software and elements of infrastructure, as well as in the sale and installation of hardware solutions.
84GF Score
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