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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.
The historical rank and industry rank for Helvetia Baloise Holding AG's Graham Number or its related term are showing as below:
XSWX:HBAN'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.92 Med: 1.56 Max: 3.13
Current: 2.04
During the past 13 years, the highest Price to Graham Number ratio of Helvetia Baloise Holding AG was 3.13. The lowest was 0.92. And the median was 1.56.
XSWX:HBAN's Price-to-Graham-Number is ranked worse than 85.88% of 425
companies
in the Insurance industry
Industry Median: 0.93
vs XSWX:HBAN: 2.04
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Helvetia Baloise Holding AG (XSWX:HBAN) 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.
Helvetia Baloise Holding AG's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Dec. 2025 )
=
215.60
/
105.80
=
2.04
* 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.
Helvetia Baloise Holding AG Graham Number Related Terms
Helvetia Baloise Holding AG 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.
XSWX:HBAN vs BRK.A, AIG, HIG: Graham Number Comparison
For the Insurance - Diversified subindustry, Helvetia Baloise Holding AG'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.
Helvetia Baloise Holding AG Price-to-Graham-Number vs Insurance Industry
For the Insurance industry and Financial Services sector, Helvetia Baloise Holding AG's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Helvetia Baloise Holding AG'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.
Helvetia Baloise Holding AG (XSWX:HBAN) has a Graham Number of CHF105.80 as of Dec. 2025. The Graham Number values a company based on its per-share earnings and book value. View historical data on Helvetia Baloise Holding AG and its competitors. This is 6682% above median its historical median of 1.56. Over the past decade, Helvetia Baloise Holding AG's Graham Number has ranged from 0.92 to 3.13. According to the industry distribution chart, Helvetia Baloise Holding AG ranks #365 out of 425 companies in the Insurance industry, placing it in the top 85.9%.
Is Helvetia Baloise Holding AG's Graham Number too high?
Helvetia Baloise Holding AG's current Graham Number of CHF105.80 is 6682% above median its 10-year median of 1.56. Over the past 10 years, this metric has ranged from a low of 0.92 to a high of 3.13. Based on the distribution chart, Helvetia Baloise Holding AG ranks #365 out of 425 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Helvetia Baloise Holding AG has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Helvetia Baloise Holding AG's Graham Number compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Helvetia Baloise Holding AG ranks #365 out of 425 companies for Graham Number. This places Helvetia Baloise Holding AG in the lower half of its industry. The industry median Graham Number is 0.93. Historically, Helvetia Baloise Holding AG's own Graham Number has ranged from 0.92 to 3.13 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 Insurance company?
The median Graham Number among Insurance companies is 0.93, based on 425 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 Helvetia Baloise Holding AG and its competitors. For the Insurance industry, the median Graham Number is 0.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Helvetia Baloise Holding AG's current Graham Number is CHF105.80, which is 6682% above median its own 10-year median of 1.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Helvetia Baloise Holding AG stock overvalued right now?
Based on GuruFocus' analysis, Helvetia Baloise Holding AG (XSWX:HBAN) is currently considered Modestly Overvalued. The stock's GF Value™ is CHF188.68, compared to a current price of CHF215.60 — trading 14.3% above its estimated fair value. The current Graham Number is CHF105.80, which is 6682% above median its 10-year median of 1.56. Helvetia Baloise Holding AG's overall GF Score™ is 80/100 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 Helvetia Baloise Holding AG (XSWX:HBAN), the current Graham Number is CHF105.80 as of Dec. 2025. 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 Helvetia Baloise Holding AG (XSWX:HBAN) Overvalued in 2026?
Based on GuruFocus' analysis, Helvetia Baloise Holding AG stock appears to be overvalued.
The current stock price of CHF215.60 is trading 14.3% above its estimated GF Value™ of CHF188.68.
GuruFocus considers Helvetia Baloise Holding AG to be Modestly Overvalued.
Key valuation signals for XSWX:HBAN:
Graham Number: CHF105.80 (6682% above median its 10-year median of 1.56)
GF Value™: CHF188.68 vs. price of CHF215.60 (14.3% above fair value)
No single metric tells the full story. See the XSWX:HBAN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Helvetia Baloise Holding AG is a multi-line insurance company. The company provides pension, specialty insurance and reinsurance services, and other financial solutions. The company represents it's seven reportable segments namely Switzerland, Spain, Germany, Belgium, Luxembourg, Italian and Austrian Markets, Specialty Markets, and Corporate and other. Company generates majority revenue from Switzerland business segment.
80GF Score
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