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 Wheaton Precious Metals's Graham Number or its related term are showing as below:
During the past 13 years, the highest Price to Graham Number ratio of Wheaton Precious Metals was 3.78. The lowest was 1.23. And the median was 2.19.
XSWX:WPM's Price-to-Graham-Number is not ranked *
in the Metals & Mining industry.
Industry Median: 1.31 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Wheaton Precious Metals (XSWX:WPM) 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.
Wheaton Precious Metals's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
93.87
/
N/A
=
N/A
* 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.
Wheaton Precious Metals Graham Number Related Terms
Wheaton Precious Metals 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:WPM vs NEM, AU, RGLD: Graham Number Comparison
For the Gold subindustry, Wheaton Precious Metals'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.
Wheaton Precious Metals Price-to-Graham-Number vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Wheaton Precious Metals's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Wheaton Precious Metals'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.
Wheaton Precious Metals (XSWX:WPM) has a Graham Number of CHFN/A as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Wheaton Precious Metals and its competitors. Over the past decade, Wheaton Precious Metals' Graham Number has ranged from 1.23 to 3.78. According to the industry distribution chart, Wheaton Precious Metals ranks #504 out of 609 companies in the Metals & Mining industry, placing it in the top 82.8%.
Is Wheaton Precious Metals' Graham Number too high?
Wheaton Precious Metals' current Graham Number is CHFN/A. Over the past 10 years, this metric has ranged from a low of 1.23 to a high of 3.78. Based on the distribution chart, Wheaton Precious Metals ranks #504 out of 609 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Wheaton Precious Metals has a GF Score™ of 95/100, reflecting its overall financial health beyond just this single metric.
How does Wheaton Precious Metals' Graham Number compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Wheaton Precious Metals ranks #504 out of 609 companies for Graham Number. This places Wheaton Precious Metals in the lower half of its industry. The industry median Graham Number is 1.31. Historically, Wheaton Precious Metals' own Graham Number has ranged from 1.23 to 3.78 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 1.31, 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 Wheaton Precious Metals and its competitors. For the Metals & Mining industry, the median Graham Number is 1.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Wheaton Precious Metals's current Graham Number is CHFN/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wheaton Precious Metals stock overvalued right now?
Wheaton Precious Metals (XSWX:WPM) has a current Graham Number of CHFN/A. The stock's GF Value™ is CHF17.67, compared to a current price of CHF93.87 — trading 431.2% above its estimated fair value. The current Graham Number is CHFN/A. Wheaton Precious Metals' overall GF Score™ is 95/100. 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 Wheaton Precious Metals (XSWX:WPM), the current Graham Number is CHFN/A 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 Wheaton Precious Metals (XSWX:WPM) Overvalued in 2026?
Based on GuruFocus' analysis, Wheaton Precious Metals stock appears to be overvalued.
The current stock price of CHF93.87 is trading 431.2% above its estimated GF Value™ of CHF17.67.
Key valuation signals for XSWX:WPM:
Graham Number: CHFN/A
GF Value™: CHF17.67 vs. price of CHF93.87 (431.2% above fair value)
No single metric tells the full story. See the XSWX:WPM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Wheaton Precious Metals Corp is a precious metal streaming company. Its geographical segment includes: North America; Europe; South America; and Africa. It generates its revenue from the sale of precious metals (gold, silver and palladium) and cobalt.
95GF Score
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