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Northern Solar Holdings BhdXKLS:0340 +0.74%18 Graham Number is RM0.42 as of Mar. 2026, which is 100% below its 10-year median of 1.64. GuruFocus rates XKLS:0340 with a GF Score™ of 18/100. The stock has 4 warning signs investors should review. Among 658 Semiconductors companies, Northern Solar Holdings Bhd ranks better than 69.91% 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 Northern Solar Holdings Bhd's Graham Number or its related term are showing as below:
XKLS:0340'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.45 Med: 1.64 Max: 1.82
Current: 1.62
During the past 5 years, the highest Price to Graham Number ratio of Northern Solar Holdings Bhd was 1.82. The lowest was 1.45. And the median was 1.64.
XKLS:0340's Price-to-Graham-Number is ranked better than 69.91% of 658
companies
in the Semiconductors industry
Industry Median: 2.605
vs XKLS:0340: 1.62
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Northern Solar Holdings Bhd (XKLS:0340) 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.
Northern Solar Holdings Bhd's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
0.68
/
0.42
=
1.63
* 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.
Northern Solar Holdings Bhd Graham Number Related Terms
Northern Solar Holdings Bhd 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.
XKLS:0340 vs FSLR, NXT, ENPH: Graham Number Comparison
For the Solar subindustry, Northern Solar Holdings 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.
Northern Solar Holdings Bhd Price-to-Graham-Number vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Northern Solar Holdings Bhd's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Northern Solar Holdings Bhd'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.
Northern Solar Holdings Bhd (XKLS:0340) has a Graham Number of RM0.42 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Northern Solar Holdings Bhd and its competitors. This is 74% below median its historical median of 1.64. Over the past decade, Northern Solar Holdings Bhd's Graham Number has ranged from 1.45 to 1.82. According to the industry distribution chart, Northern Solar Holdings Bhd ranks #198 out of 658 companies in the Semiconductors industry, placing it in the top 30.1%.
Is Northern Solar Holdings Bhd's Graham Number too high?
Northern Solar Holdings Bhd's current Graham Number of RM0.42 is 74% below median its 10-year median of 1.64. Over the past 10 years, this metric has ranged from a low of 1.45 to a high of 1.82. Based on the distribution chart, Northern Solar Holdings Bhd ranks #198 out of 658 companies in the Semiconductors industry, which is above the industry midpoint. Overall, Northern Solar Holdings Bhd has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Northern Solar Holdings Bhd's Graham Number compare to FSLR and NXT?
According to the Semiconductors industry distribution chart, Northern Solar Holdings Bhd ranks #198 out of 658 companies for Graham Number. This puts Northern Solar Holdings Bhd in the upper half of its industry. The industry median Graham Number is 2.61. Historically, Northern Solar Holdings Bhd's own Graham Number has ranged from 1.45 to 1.82 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 2.61, 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 Northern Solar Holdings Bhd and its competitors. For the Semiconductors industry, the median Graham Number is 2.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northern Solar Holdings Bhd's current Graham Number is RM0.42, which is 74% below median its own 10-year median of 1.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northern Solar Holdings Bhd stock overvalued right now?
Northern Solar Holdings Bhd (XKLS:0340) has a current Graham Number of RM0.42. The current Graham Number is RM0.42, which is 74% below median its 10-year median of 1.64. Northern Solar Holdings Bhd's overall GF Score™ is 18/100 with 4 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 Northern Solar Holdings Bhd (XKLS:0340), the current Graham Number is RM0.42 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.
Northern Solar Holdings Bhd Group is principally involved in the EPCC of solar PV systems, Generation of renewable energy, and O&M of solar PV equipment and systems. Its EPCC of solar PV systems involves the provision of engineering design and planning, procurement and supply, construction, installation, testing, and commissioning of solar PV systems for commercial, industrial, and residential buildings. The Group owns, operates, and maintains rooftop solar PV systems that generate and sell electricity to NEM and SELCO consumers in Peninsular Malaysia. Its O&M of solar PV equipment and systems involves providing O&M services for solar PV equipment and systems installed in commercial, industrial, & residential buildings. The majority of revenue is derived from the EPCC of solar PV systems.
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