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PSP Swiss Property AGXSWX:PSPN +0.70%66 Graham Number is CHF158.76 as of Mar. 2026, which is 100% below its 10-year median of 0.91. GuruFocus rates XSWX:PSPN with a GF Score™ of 66/100 and a GF Value™ of CHF123.57 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,170 Real Estate companies, PSP Swiss Property AG ranks worse than 60.77% 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 (2026-07-17), the stock price of PSP Swiss Property AG is CHF144.30. PSP Swiss Property AG's graham number for the quarter that ended in Mar. 2026 was CHF158.76. Therefore, PSP Swiss Property AG's Price to Graham Number ratio for today is 0.91.
The historical rank and industry rank for PSP Swiss Property AG's Graham Number or its related term are showing as below:
XSWX:PSPN'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.63 Med: 0.91 Max: 1.24
Current: 0.91
During the past 13 years, the highest Price to Graham Number ratio of PSP Swiss Property AG was 1.24. The lowest was 0.63. And the median was 0.91.
XSWX:PSPN's Price-to-Graham-Number is ranked worse than 60.77% of 1170
companies
in the Real Estate industry
Industry Median: 0.75
vs XSWX:PSPN: 0.91
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
PSP Swiss Property AG (XSWX:PSPN) 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.
PSP Swiss Property AG's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
144.30
/
158.76
=
0.91
* 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.
PSP Swiss Property AG Graham Number Related Terms
PSP Swiss Property AG Graham Number Historical Data
* Premium members only.
The historical data trend for PSP Swiss Property AG'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:PSPN vs CBRE, BEKE, JLL: Graham Number Comparison
For the Real Estate Services subindustry, PSP Swiss Property 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.
PSP Swiss Property AG Price-to-Graham-Number vs Real Estate Industry
For the Real Estate industry and Real Estate sector, PSP Swiss Property AG's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where PSP Swiss Property 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.
PSP Swiss Property AG (XSWX:PSPN) has a Graham Number of CHF158.76 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on PSP Swiss Property AG and its competitors. This is 17346% above median its historical median of 0.91. Over the past decade, PSP Swiss Property AG's Graham Number has ranged from 0.63 to 1.24. According to the industry distribution chart, PSP Swiss Property AG ranks #711 out of 1170 companies in the Real Estate industry, placing it in the top 60.8%.
Is PSP Swiss Property AG's Graham Number too high?
PSP Swiss Property AG's current Graham Number of CHF158.76 is 17346% above median its 10-year median of 0.91. Over the past 10 years, this metric has ranged from a low of 0.63 to a high of 1.24. Based on the distribution chart, PSP Swiss Property AG ranks #711 out of 1170 companies in the Real Estate industry, which is below the industry midpoint. Overall, PSP Swiss Property AG has a GF Score™ of 66/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PSP Swiss Property AG's Graham Number compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, PSP Swiss Property AG ranks #711 out of 1170 companies for Graham Number. This places PSP Swiss Property AG in the lower half of its industry. The industry median Graham Number is 0.75. Historically, PSP Swiss Property AG's own Graham Number has ranged from 0.63 to 1.24 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 Real Estate company?
The median Graham Number among Real Estate companies is 0.75, based on 1,170 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 PSP Swiss Property AG and its competitors. For the Real Estate industry, the median Graham Number is 0.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PSP Swiss Property AG's current Graham Number is CHF158.76, which is 17346% above median its own 10-year median of 0.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PSP Swiss Property AG stock overvalued right now?
Based on GuruFocus' analysis, PSP Swiss Property AG (XSWX:PSPN) is currently considered Modestly Overvalued. The stock's GF Value™ is CHF123.57, compared to a current price of CHF144.30 — trading 16.8% above its estimated fair value. The current Graham Number is CHF158.76, which is 17346% above median its 10-year median of 0.91. PSP Swiss Property AG's overall GF Score™ is 66/100 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 PSP Swiss Property AG (XSWX:PSPN), the current Graham Number is CHF158.76 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 PSP Swiss Property AG (XSWX:PSPN) Overvalued in 2026?
Based on GuruFocus' analysis, PSP Swiss Property AG stock appears to be overvalued.
The current stock price of CHF144.30 is trading 16.8% above its estimated GF Value™ of CHF123.57.
GuruFocus considers PSP Swiss Property AG to be Modestly Overvalued.
Key valuation signals for XSWX:PSPN:
Graham Number: CHF158.76 (17346% above median its 10-year median of 0.91)
GF Value™: CHF123.57 vs. price of CHF144.30 (16.8% above fair value)
No single metric tells the full story. See the XSWX:PSPN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PSP Swiss Property AG is a general real estate company, with all its properties active in Switzerland. The company's operating segments are Real estate investments, Property management, and Holding. A majority of its revenue is generated from the Real estate investments segment, which comprises all properties of the Group, such as investment properties, investment properties for sale, own-used properties, development properties, as well as development projects for sale. Income in this segment is generated by the properties mainly in the form of rental income and net changes in fair value. The Property management segment includes all services and activities concerning the management of the company's real estate portfolio, and the Holding segment includes the traditional corporate functions.
66GF Score
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