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Waterstone FinancialWSBF +3.14%55 Graham Number is $26.77 as of Mar. 2026, which is 3013% above its 10-year median of 0.86. GuruFocus rates WSBF with a GF Score™ of 55/100 and a GF Value™ of $16.90 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 1,434 Banks companies, Waterstone Financial ranks better than 61.16% 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 (2026-07-26), the stock price of Waterstone Financial is $20.06. Waterstone Financial's graham number for the quarter that ended in Mar. 2026 was $26.77. Therefore, Waterstone Financial's Price to Graham Number ratio for today is 0.74.
The historical rank and industry rank for Waterstone Financial's Graham Number or its related term are showing as below:
WSBF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.51 Med: 0.86 Max: 1.08
Current: 0.73
During the past 13 years, the highest Price to Graham Number ratio of Waterstone Financial was 1.08. The lowest was 0.51. And the median was 0.86.
WSBF's Price-to-Graham-Number is ranked better than 61.16% of 1434
companies
in the Banks industry
Industry Median: 0.81
vs WSBF: 0.73
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Waterstone Financial (NAS:WSBF) 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.
Waterstone Financial's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
20.06
/
27.25
=
0.74
* 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.
Waterstone Financial Graham Number Related Terms
Waterstone Financial Graham Number Historical Data
* Premium members only.
The historical data trend for Waterstone Financial'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.
WSBF vs USCB, MVBF, RVRF: Graham Number Comparison
For the Banks - Regional subindustry, Waterstone Financial'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.
Waterstone Financial Price-to-Graham-Number vs Banks Industry
For the Banks industry and Financial Services sector, Waterstone Financial's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Waterstone Financial'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.
Waterstone Financial (WSBF) has a Graham Number of $26.77 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Waterstone Financial and its competitors. This is 3013% above median its historical median of 0.86. Over the past decade, Waterstone Financial's Graham Number has ranged from 0.51 to 1.08. According to the industry distribution chart, Waterstone Financial ranks #557 out of 1434 companies in the Banks industry, placing it in the top 38.8%.
Is Waterstone Financial's Graham Number too high?
Waterstone Financial's current Graham Number of $26.77 is 3013% above median its 10-year median of 0.86. Over the past 10 years, this metric has ranged from a low of 0.51 to a high of 1.08. The Banks industry median Graham Number is 0.81. Waterstone Financial's value of $26.77 is 3204.9% above this industry median. Based on the distribution chart, Waterstone Financial ranks #557 out of 1434 companies in the Banks industry, which is above the industry midpoint. Overall, Waterstone Financial has a GF Score™ of 55/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Waterstone Financial's Graham Number compare to USCB and MVBF?
According to the Banks industry distribution chart, Waterstone Financial ranks #557 out of 1434 companies for Graham Number. This puts Waterstone Financial in the upper half of its industry. The industry median Graham Number is 0.81. Waterstone Financial's value of $26.77 is 3204.9% above this benchmark. Historically, Waterstone Financial's own Graham Number has ranged from 0.51 to 1.08 over the past decade. While the company's 10-year median is 0.86 vs. the industry median of 0.81, Waterstone Financial 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 Banks company?
The median Graham Number among Banks companies is 0.81, based on 1,434 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. Waterstone Financial's current Graham Number of $26.77 is 3204.9% 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 Waterstone Financial and its competitors. For the Banks industry, the median Graham Number is 0.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Waterstone Financial's current Graham Number is $26.77, which is 3013% above median its own 10-year median of 0.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Waterstone Financial stock overvalued right now?
Based on GuruFocus' analysis, Waterstone Financial (WSBF) is currently considered Modestly Overvalued. The stock's GF Value™ is $16.90, compared to a current price of $20.06 — trading 18.7% above its estimated fair value. The current Graham Number is $26.77, which is 3013% above median its 10-year median of 0.86 and 3204.9% above the Banks industry median of 0.81. Waterstone Financial's overall GF Score™ is 55/100 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 Waterstone Financial (WSBF), the current Graham Number is $26.77 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 Waterstone Financial (WSBF) Overvalued in 2026?
Based on GuruFocus' analysis, Waterstone Financial stock appears to be overvalued.
The current stock price of $20.06 is trading 18.7% above its estimated GF Value™ of $16.90.
GuruFocus considers Waterstone Financial to be Modestly Overvalued.
Key valuation signals for WSBF:
Graham Number: $26.77 (3013% above median its 10-year median of 0.86)
GF Value™: $16.90 vs. price of $20.06 (18.7% above fair value)
Industry Position: 3204.9% above the Banks median (#557 of 1434)
No single metric tells the full story. See the WSBF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Waterstone Financial Inc is a holding company. Through its subsidiaries, it operates in two reportable segments: Community Banking and Mortgage Banking. The Community Banking segment provides consumer and business banking products and services to customers, which include various types of loans, deposits, and personal investment services. The Mortgage Banking segment involves residential mortgage loans for the primary purpose of sale in the secondary market. The majority of its revenue comes from the Community Banking segment.
55GF Score
Get the complete analysis for WSBF
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