Elsoft Research Bhd (XKLS:0090) Graham Number: RM0.09 (As of Mar. 2026) — 97% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

XKLS:0090 Elsoft Research Bhd XKLS:0090
57 GF Score
Price RM0.24
GF Value RM0.35
Valuation Possible Value Trap
! 3 Warning Signs
View Full Analysis

What is Elsoft Research Bhd Graham Number?

Elsoft Research Bhd XKLS:0090 57 Graham Number is RM0.09 as of Mar. 2026, which is 100% below its 10-year median of 2.83. GuruFocus rates XKLS:0090 with a GF Score™ of 57/100 and a GF Value™ of RM0.35 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 658 Semiconductors companies, Elsoft Research Bhd ranks better than 51.22% 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 (2026-08-06), the stock price of Elsoft Research Bhd is RM0.24. Elsoft Research Bhd's graham number for the quarter that ended in Mar. 2026 was RM0.09. Therefore, Elsoft Research Bhd's Price to Graham Number ratio for today is 2.82.

The historical rank and industry rank for Elsoft Research Bhd's Graham Number or its related term are showing as below:

XKLS:0090' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.06   Med: 2.83   Max: 13.25
Current: 2.67

During the past 13 years, the highest Price to Graham Number ratio of Elsoft Research Bhd was 13.25. The lowest was 1.06. And the median was 2.83.

XKLS:0090's Price-to-Graham-Number is ranked better than
51.22% of 658 companies
in the Semiconductors industry
Industry Median: 2.745 vs XKLS:0090: 2.67

Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.

Elsoft Research Bhd  (XKLS:0090) 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.

Elsoft Research Bhd's Price to Graham number Ratio for today is calculated as

Price to Graham number=Share Price (Today)/Graham number (Q: Mar. 2026 )
=0.24/0.09
=2.82

* 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.

Elsoft Research Bhd Graham Number Related Terms

Elsoft Research Bhd Graham Number Historical Data

* Premium members only.

The historical data trend for Elsoft Research Bhd'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.

Elsoft Research Bhd Graham Number Chart

Elsoft Research Bhd Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Graham Number
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.24 0.54 0.21 0.12 0.06

Elsoft Research Bhd Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Graham Number Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.09 0.00 0.09 0.09 0.09

XKLS:0090 vs AMAT, LRCX, KLAC: Graham Number Comparison

For the Semiconductor Equipment & Materials subindustry, Elsoft Research Bhd'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.

Elsoft Research Bhd Price-to-Graham-Number vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Elsoft Research Bhd's Price-to-Graham-Number distribution charts can be found below:

* The bar in red indicates where Elsoft Research Bhd's Price-to-Graham-Number falls into.


XKLS:0090
57GF Score
Elsoft Research Bhd XKLS:0090
Graham Number is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Elsoft Research Bhd Graham Number Calculation

Graham Number is a concept based on Ben Graham's conservative valuation of companies.

Elsoft Research Bhd's Graham Number for the fiscal year that ended in Dec. 2025 is calculated as

Graham Number
=sqrt of (22.5* Tangible Book per Share *EPS without NRI)
=sqrt of (22.5*0.164*0.001)
=0.06

Elsoft Research Bhd's Graham Number for the quarter that ended in Mar. 2026 is calculated as

Graham Number
=sqrt of (22.5*Tangible Book per Share*EPS without NRI (TTM))
=sqrt of (22.5*0.161*0.002)
=0.09

* 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.

Frequently Asked Questions Learn more about Graham Number →
What does a Graham Number of RM0.09 mean?
Elsoft Research Bhd (XKLS:0090) has a Graham Number of RM0.09 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Elsoft Research Bhd and its competitors. This is 97% below median its historical median of 2.83. Over the past decade, Elsoft Research Bhd's Graham Number has ranged from 1.06 to 13.25. According to the industry distribution chart, Elsoft Research Bhd ranks #321 out of 658 companies in the Semiconductors industry, placing it in the top 48.8%.
Is Elsoft Research Bhd's Graham Number too high?
Elsoft Research Bhd's current Graham Number of RM0.09 is 97% below median its 10-year median of 2.83. Over the past 10 years, this metric has ranged from a low of 1.06 to a high of 13.25. Based on the distribution chart, Elsoft Research Bhd ranks #321 out of 658 companies in the Semiconductors industry, which is above the industry midpoint. Overall, Elsoft Research Bhd has a GF Score™ of 57/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Elsoft Research Bhd's Graham Number compare to AMAT and LRCX?
According to the Semiconductors industry distribution chart, Elsoft Research Bhd ranks #321 out of 658 companies for Graham Number. This puts Elsoft Research Bhd in the upper half of its industry. The industry median Graham Number is 2.75. Historically, Elsoft Research Bhd's own Graham Number has ranged from 1.06 to 13.25 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 Semiconductors company?
The median Graham Number among Semiconductors companies is 2.75, based on 658 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 Elsoft Research Bhd and its competitors. For the Semiconductors industry, the median Graham Number is 2.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Elsoft Research Bhd's current Graham Number is RM0.09, which is 97% below median its own 10-year median of 2.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Elsoft Research Bhd stock overvalued right now?
Based on GuruFocus' analysis, Elsoft Research Bhd (XKLS:0090) is currently considered Possible Value Trap. The stock's GF Value™ is RM0.35, compared to a current price of RM0.24 — trading 31.4% below its estimated fair value. The current Graham Number is RM0.09, which is 97% below median its 10-year median of 2.83. Elsoft Research Bhd's overall GF Score™ is 57/100 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 Elsoft Research Bhd (XKLS:0090), the current Graham Number is RM0.09 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 Elsoft Research Bhd (XKLS:0090) Overvalued in 2026?

Based on GuruFocus' analysis, Elsoft Research Bhd stock appears to be undervalued. The current stock price of RM0.24 is trading 31.4% below its estimated GF Value™ of RM0.35. GuruFocus considers Elsoft Research Bhd to be Possible Value Trap.

Key valuation signals for XKLS:0090:

  • Graham Number: RM0.09 (97% below median its 10-year median of 2.83)
  • GF Value™: RM0.35 vs. price of RM0.24 (31.4% below fair value)
  • GF Score™: 57/100 with 3 warning signs

No single metric tells the full story. See the XKLS:0090 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Elsoft Research Bhd Business Description

Address Plot 85 B, Lintang Bayan Lepas 9, Bayan Lepas Industrial Park, Phase 4, Bayan Lepas, PNG, MYS, 11900
Elsoft Research Bhd is principally involved in the research, design, and development of test, burn-in, and application-specific embedded systems. The company mainly provides cost effective ATE solutions to the semiconductor, optoelectronic, and automation industries. Its test and burn-in systems are used by customers manufacturing optoelectronic devices such as LED, image sensors, and automotive lightings to test their products before launching into the market. The company also engaged a new customer to develop a test solution for metalens technology while continuing to focus on the medical device market. , and maximum revenue is generated from Malaysia, followed by Asia (excluding Malaysia), and the United States.
57GF Score

Get the complete analysis for XKLS:0090

Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

RM0.24
Price
RM0.35
GF Value