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National Hydro Power CoXNEP:NHPC -1.43%82 Graham Number is NPR39.25 as of Jan. 2026, which is 100% below its 10-year median of 1.18. GuruFocus rates XNEP:NHPC with a GF Score™ of 82/100 and a GF Value™ of NPR337.00 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 276 Utilities - Independent Power Producers companies, National Hydro Power Co ranks worse than 94.57% 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 National Hydro Power Co's Graham Number or its related term are showing as below:
XNEP:NHPC'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.7 Med: 1.18 Max: 11.66
Current: 6.83
During the past 11 years, the highest Price to Graham Number ratio of National Hydro Power Co was 11.66. The lowest was 0.70. And the median was 1.18.
XNEP:NHPC's Price-to-Graham-Number is ranked worse than 94.57% of 276
companies
in the Utilities - Independent Power Producers industry
Industry Median: 1.14
vs XNEP:NHPC: 6.83
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
National Hydro Power Co (XNEP:NHPC) 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.
National Hydro Power Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jan. 2026 )
=
268.00
/
30.91
=
8.67
* 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.
National Hydro Power Co Graham Number Related Terms
National Hydro Power Co 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.
National Hydro Power Co Graham Number Competitor Comparison
For the Utilities - Renewable subindustry, National Hydro Power Co'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.
National Hydro Power Co Price-to-Graham-Number vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, National Hydro Power Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where National Hydro Power Co'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.
National Hydro Power Co (XNEP:NHPC) has a Graham Number of NPR39.25 as of Jan. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on National Hydro Power Co and its competitors. This is 3226% above median its historical median of 1.18. Over the past decade, National Hydro Power Co's Graham Number has ranged from 0.70 to 11.66. According to the industry distribution chart, National Hydro Power Co ranks #261 out of 276 companies in the Utilities - Independent Power Producers industry, placing it in the top 94.6%.
Is National Hydro Power Co's Graham Number too high?
National Hydro Power Co's current Graham Number of NPR39.25 is 3226% above median its 10-year median of 1.18. Over the past 10 years, this metric has ranged from a low of 0.70 to a high of 11.66. Based on the distribution chart, National Hydro Power Co ranks #261 out of 276 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers. Overall, National Hydro Power Co has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does National Hydro Power Co's Graham Number compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, National Hydro Power Co ranks #261 out of 276 companies for Graham Number. This places National Hydro Power Co in the lower half of its industry. The industry median Graham Number is 1.14. Historically, National Hydro Power Co's own Graham Number has ranged from 0.70 to 11.66 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 an Utilities - Independent Power Producers company?
The median Graham Number among Utilities - Independent Power Producers companies is 1.14, based on 276 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 National Hydro Power Co and its competitors. For the Utilities - Independent Power Producers industry, the median Graham Number is 1.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Hydro Power Co's current Graham Number is NPR39.25, which is 3226% above median its own 10-year median of 1.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Hydro Power Co stock overvalued right now?
Based on GuruFocus' analysis, National Hydro Power Co (XNEP:NHPC) is currently considered Modestly Undervalued. The stock's GF Value™ is NPR337.00, compared to a current price of NPR268.00 — trading 20.5% below its estimated fair value. The current Graham Number is NPR39.25, which is 3226% above median its 10-year median of 1.18. National Hydro Power Co's overall GF Score™ is 82/100 with 5 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 National Hydro Power Co (XNEP:NHPC), the current Graham Number is NPR39.25 as of Jan. 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 National Hydro Power Co (XNEP:NHPC) Overvalued in 2026?
Based on GuruFocus' analysis, National Hydro Power Co stock appears to be undervalued.
The current stock price of NPR268.00 is trading 20.5% below its estimated GF Value™ of NPR337.00.
GuruFocus considers National Hydro Power Co to be Modestly Undervalued.
Key valuation signals for XNEP:NHPC:
Graham Number: NPR39.25 (3226% above median its 10-year median of 1.18)
GF Value™: NPR337.00 vs. price of NPR268.00 (20.5% below fair value)
No single metric tells the full story. See the XNEP:NHPC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Hydro Power Co Ltd is engaged in the development of hydropower projects. The company's projects include Indrawati-III Hydropower Project, Lower Indrawati Hydropower Project and Lower Erkhuwa Hydropower Project.
82GF Score
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