Kinross GoldXSWX:KG +0.14%94 Graham Number is CHF15.90 as of Mar. 2026, which is 100% below its 10-year median of 0.98. GuruFocus rates XSWX:KG with a GF Score™ of 94/100 and a GF Value™ of CHF14.49 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 609 Metals & Mining companies, Kinross Gold ranks better than 52.38% 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 (2026-07-13), the stock price of Kinross Gold is CHF19.164. Kinross Gold's graham number for the quarter that ended in Mar. 2026 was CHF15.90. Therefore, Kinross Gold's Price to Graham Number ratio for today is 1.21.
The historical rank and industry rank for Kinross Gold's Graham Number or its related term are showing as below:
XSWX:KG'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.57 Med: 0.98 Max: 5.58
Current: 1.24
During the past 13 years, the highest Price to Graham Number ratio of Kinross Gold was 5.58. The lowest was 0.57. And the median was 0.98.
XSWX:KG's Price-to-Graham-Number is ranked better than 52.38% of 609
companies
in the Metals & Mining industry
Industry Median: 1.27
vs XSWX:KG: 1.24
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Kinross Gold (XSWX:KG) 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.
Kinross Gold's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
19.164
/
15.90
=
1.21
* 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.
Kinross Gold Graham Number Related Terms
Kinross Gold Graham Number Historical Data
* Premium members only.
The historical data trend for Kinross Gold'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:KG vs NEM, AU, RGLD: Graham Number Comparison
For the Gold subindustry, Kinross Gold'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.
Kinross Gold Price-to-Graham-Number vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Kinross Gold's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Kinross Gold'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.
Kinross Gold (XSWX:KG) has a Graham Number of CHF15.90 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Kinross Gold and its competitors. This is 1522% above median its historical median of 0.98. Over the past decade, Kinross Gold's Graham Number has ranged from 0.57 to 5.58. According to the industry distribution chart, Kinross Gold ranks #290 out of 609 companies in the Metals & Mining industry, placing it in the top 47.6%.
Is Kinross Gold's Graham Number too high?
Kinross Gold's current Graham Number of CHF15.90 is 1522% above median its 10-year median of 0.98. Over the past 10 years, this metric has ranged from a low of 0.57 to a high of 5.58. Based on the distribution chart, Kinross Gold ranks #290 out of 609 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Kinross Gold has a GF Score™ of 94/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kinross Gold's Graham Number compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Kinross Gold ranks #290 out of 609 companies for Graham Number. This puts Kinross Gold in the upper half of its industry. The industry median Graham Number is 1.27. Historically, Kinross Gold's own Graham Number has ranged from 0.57 to 5.58 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 Metals & Mining company?
The median Graham Number among Metals & Mining companies is 1.27, 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 Kinross Gold and its competitors. For the Metals & Mining industry, the median Graham Number is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kinross Gold's current Graham Number is CHF15.90, which is 1522% above median its own 10-year median of 0.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kinross Gold stock overvalued right now?
Based on GuruFocus' analysis, Kinross Gold (XSWX:KG) is currently considered Significantly Overvalued. The stock's GF Value™ is CHF14.49, compared to a current price of CHF19.16 — trading 32.3% above its estimated fair value. The current Graham Number is CHF15.90, which is 1522% above median its 10-year median of 0.98. Kinross Gold's overall GF Score™ is 94/100 with 1 warning sign 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 Kinross Gold (XSWX:KG), the current Graham Number is CHF15.90 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 Kinross Gold (XSWX:KG) Overvalued in 2026?
Based on GuruFocus' analysis, Kinross Gold stock appears to be overvalued.
The current stock price of CHF19.16 is trading 32.3% above its estimated GF Value™ of CHF14.49.
GuruFocus considers Kinross Gold to be Significantly Overvalued.
Key valuation signals for XSWX:KG:
Graham Number: CHF15.90 (1522% above median its 10-year median of 0.98)
GF Value™: CHF14.49 vs. price of CHF19.16 (32.3% above fair value)
No single metric tells the full story. See the XSWX:KG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kinross Gold is a Canada-based gold producer, producing roughly 2 million gold equivalent ounces in 2025. The company had about a decade of gold reserves at the end of 2025. It operates mines in the Americas and West Africa after selling its low-cost Russian operations in 2022 in response to the invasion of Ukraine. Kinross has historically used acquisitions to fuel expansion into new regions and production growth. In 2022, Kinross purchased the Great Bear project in Canada. If developed as we think likely, it could produce an average of more than 500,000 ounces of gold per year for at least a decade, with its unit cash costs likely in the first quartile of the industry cost curve. Though Great Bear's production is likely to be replacement ounces for falling volumes at other mines.
94GF Score
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