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Where Food Comes FromWFCF 81 Graham Number is $1.92 as of Mar. 2026, which is 63% below its 10-year median of 5.21. GuruFocus rates WFCF with a GF Score™ of 81/100 and a GF Value™ of $12.45 (Fairly Valued). The stock has 3 warning signs investors should review. Among 699 Business Services companies, Where Food Comes From ranks worse than 95.71% 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.
The historical rank and industry rank for Where Food Comes From's Graham Number or its related term are showing as below:
WFCF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 3.02 Med: 5.21 Max: 22.64
Current: 6.56
During the past 13 years, the highest Price to Graham Number ratio of Where Food Comes From was 22.64. The lowest was 3.02. And the median was 5.21.
WFCF's Price-to-Graham-Number is ranked worse than 95.71% of 699
companies
in the Business Services industry
Industry Median: 1.18
vs WFCF: 6.56
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Where Food Comes From (NAS:WFCF) 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.
Where Food Comes From's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
12.59
/
1.92
=
6.55
* 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.
Where Food Comes From Graham Number Related Terms
Where Food Comes From Graham Number Historical Data
* Premium members only.
The historical data trend for Where Food Comes From'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.
WFCF vs ANPA, DLHC, TISI: Graham Number Comparison
For the Specialty Business Services subindustry, Where Food Comes From'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.
Where Food Comes From Price-to-Graham-Number vs Business Services Industry
For the Business Services industry and Industrials sector, Where Food Comes From's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Where Food Comes From'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.
Where Food Comes From (WFCF) has a Graham Number of $1.92 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Where Food Comes From and its competitors. This is 63% below median its historical median of 5.21. Over the past decade, Where Food Comes From's Graham Number has ranged from 3.02 to 22.64. According to the industry distribution chart, Where Food Comes From ranks #669 out of 699 companies in the Business Services industry, placing it in the top 95.7%.
Is Where Food Comes From's Graham Number too high?
Where Food Comes From's current Graham Number of $1.92 is 63% below median its 10-year median of 5.21. Over the past 10 years, this metric has ranged from a low of 3.02 to a high of 22.64. The Business Services industry median Graham Number is 1.18. Where Food Comes From's value of $1.92 is 62.7% above this industry median. Based on the distribution chart, Where Food Comes From ranks #669 out of 699 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, Where Food Comes From has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Where Food Comes From's Graham Number compare to ANPA and DLHC?
According to the Business Services industry distribution chart, Where Food Comes From ranks #669 out of 699 companies for Graham Number. This places Where Food Comes From in the lower half of its industry. The industry median Graham Number is 1.18. Where Food Comes From's value of $1.92 is 62.7% above this benchmark. Historically, Where Food Comes From's own Graham Number has ranged from 3.02 to 22.64 over the past decade. While the company's 10-year median is 5.21 vs. the industry median of 1.18, Where Food Comes From 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 Business Services company?
The median Graham Number among Business Services companies is 1.18, based on 699 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. Where Food Comes From's current Graham Number of $1.92 is 62.7% 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 Where Food Comes From and its competitors. For the Business Services industry, the median Graham Number is 1.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Where Food Comes From's current Graham Number is $1.92, which is 63% below median its own 10-year median of 5.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Where Food Comes From stock overvalued right now?
Based on GuruFocus' analysis, Where Food Comes From (WFCF) is currently considered Fairly Valued. The stock's GF Value™ is $12.45, compared to a current price of $12.59 — trading 1.1% above its estimated fair value. The current Graham Number is $1.92, which is 63% below median its 10-year median of 5.21 and 62.7% above the Business Services industry median of 1.18. Where Food Comes From's overall GF Score™ is 81/100 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 Where Food Comes From (WFCF), the current Graham Number is $1.92 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 Where Food Comes From (WFCF) Overvalued in 2026?
Based on GuruFocus' analysis, Where Food Comes From stock appears to be overvalued.
The current stock price of $12.59 is trading 1.1% above its estimated GF Value™ of $12.45.
GuruFocus considers Where Food Comes From to be Fairly Valued.
Key valuation signals for WFCF:
Graham Number: $1.92 (63% below median its 10-year median of 5.21)
GF Value™: $12.45 vs. price of $12.59 (1.1% above fair value)
Industry Position: 62.7% above the Business Services median (#669 of 699)
No single metric tells the full story. See the WFCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Where Food Comes From Inc is a third-party food verification company conducting both on-site and desk audits to verify that claims being made about livestock, food, other high-value specialty crops and agricultural and aquaculture products are accurate. The company supports farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations, and restaurants with a wide variety of value-added services provided through its family of verifiers, including International Certification Services, Validus Verification Services, and others. It also provides a wide range of professional consulting services. It generates the majority of its revenue from Verification and certification services.
81GF Score
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