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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 (2026-08-01), the stock price of Baker Hughes Co is CHF48.66. Baker Hughes Co's graham number for the quarter that ended in Jun. 2026 was CHF20.16. Therefore, Baker Hughes Co's Price to Graham Number ratio for today is 2.41.
The historical rank and industry rank for Baker Hughes Co's Graham Number or its related term are showing as below:
XSWX:BKR'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.02 Med: 2.33 Max: 23.75
Current: 2.39
During the past 11 years, the highest Price to Graham Number ratio of Baker Hughes Co was 23.75. The lowest was 1.02. And the median was 2.33.
XSWX:BKR's Price-to-Graham-Number is ranked worse than 83.42% of 609
companies
in the Oil & Gas industry
Industry Median: 1.09
vs XSWX:BKR: 2.39
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Baker Hughes Co (XSWX:BKR) 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.
Baker Hughes Co's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
48.66
/
20.16
=
2.41
* 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.
Baker Hughes Co Graham Number Related Terms
Baker Hughes Co Graham Number Historical Data
* Premium members only.
The historical data trend for Baker Hughes Co'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.
XSWX:BKR vs SLB, FTI, HAL: Graham Number Comparison
For the Oil & Gas Equipment & Services subindustry, Baker Hughes 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.
Baker Hughes Co Price-to-Graham-Number vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Baker Hughes Co's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Baker Hughes 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.
Baker Hughes Co (XSWX:BKR) has a Graham Number of CHF20.16 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Baker Hughes Co and its competitors. This is 765% above median its historical median of 2.33. Over the past decade, Baker Hughes Co's Graham Number has ranged from 1.02 to 23.75. According to the industry distribution chart, Baker Hughes Co ranks #508 out of 609 companies in the Oil & Gas industry, placing it in the top 83.4%.
Is Baker Hughes Co's Graham Number too high?
Baker Hughes Co's current Graham Number of CHF20.16 is 765% above median its 10-year median of 2.33. Over the past 10 years, this metric has ranged from a low of 1.02 to a high of 23.75. Based on the distribution chart, Baker Hughes Co ranks #508 out of 609 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Baker Hughes Co has a GF Score™ of 72/100, reflecting its overall financial health beyond just this single metric.
How does Baker Hughes Co's Graham Number compare to SLB and FTI?
According to the Oil & Gas industry distribution chart, Baker Hughes Co ranks #508 out of 609 companies for Graham Number. This places Baker Hughes Co in the lower half of its industry. The industry median Graham Number is 1.09. Historically, Baker Hughes Co's own Graham Number has ranged from 1.02 to 23.75 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 Oil & Gas company?
The median Graham Number among Oil & Gas companies is 1.09, based on 609 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 Baker Hughes Co and its competitors. For the Oil & Gas industry, the median Graham Number is 1.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Baker Hughes Co's current Graham Number is CHF20.16, which is 765% above median its own 10-year median of 2.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Baker Hughes Co stock overvalued right now?
Baker Hughes Co (XSWX:BKR) has a current Graham Number of CHF20.16. The stock's GF Value™ is CHF34.43, compared to a current price of CHF48.66 — trading 41.3% above its estimated fair value. The current Graham Number is CHF20.16, which is 765% above median its 10-year median of 2.33. Baker Hughes Co's overall GF Score™ is 72/100 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 Baker Hughes Co (XSWX:BKR), the current Graham Number is CHF20.16 as of Jun. 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 Baker Hughes Co (XSWX:BKR) Overvalued in 2026?
Based on GuruFocus' analysis, Baker Hughes Co stock appears to be overvalued.
The current stock price of CHF48.66 is trading 41.3% above its estimated GF Value™ of CHF34.43.
Key valuation signals for XSWX:BKR:
Graham Number: CHF20.16 (765% above median its 10-year median of 2.33)
GF Value™: CHF34.43 vs. price of CHF48.66 (41.3% above fair value)
No single metric tells the full story. See the XSWX:BKR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Following a 2022 reorganization, Baker Hughes operates in two segments: oilfield services and equipment, and industrial and energy technology. The firm's oilfield services and equipment segment is one of the Big Three oilfield-services players, along with SLB and Halliburton, and mostly supplies to hydrocarbon developers and producers, including national oil companies, major integrated firms, and independents. Markets outside of North America buy roughly three-fourths of the segment's offerings. Baker Hughes' industrial and energy technology segment manufactures and sells turbines, compressors, pumps, valves, and related testing and monitoring services for various energy and industrial applications.
72GF Score
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