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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 Shapir Engineering and Industry's Graham Number or its related term are showing as below:
XTAE:SPEN'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.17 Med: 2.32 Max: 5.25
Current: 3.8
During the past 13 years, the highest Price to Graham Number ratio of Shapir Engineering and Industry was 5.25. The lowest was 1.17. And the median was 2.32.
XTAE:SPEN's Price-to-Graham-Number is ranked worse than 90.37% of 1215
companies
in the Construction industry
Industry Median: 1
vs XTAE:SPEN: 3.80
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Shapir Engineering and Industry (XTAE:SPEN) 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.
Shapir Engineering and Industry's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
43.14
/
12.89
=
3.35
* 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.
Shapir Engineering and Industry Graham Number Related Terms
Shapir Engineering and Industry 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.
Shapir Engineering and Industry Graham Number Chart
XTAE:SPEN vs PWR, FIX, EME: Graham Number Comparison
For the Engineering & Construction subindustry, Shapir Engineering and Industry'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.
Shapir Engineering and Industry Price-to-Graham-Number vs Construction Industry
For the Construction industry and Industrials sector, Shapir Engineering and Industry's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Shapir Engineering and Industry'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.
Shapir Engineering and Industry (XTAE:SPEN) has a Graham Number of ₪12.89 as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Shapir Engineering and Industry and its competitors. According to the industry distribution chart, Shapir Engineering and Industry ranks #1098 out of 1215 companies in the Construction industry, placing it in the top 90.4%.
Is Shapir Engineering and Industry's Graham Number too high?
Shapir Engineering and Industry's current Graham Number is ₪12.89. Based on the distribution chart, Shapir Engineering and Industry ranks #1098 out of 1215 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Shapir Engineering and Industry has a GF Score™ of 88/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Shapir Engineering and Industry's Graham Number compare to PWR and FIX?
According to the Construction industry distribution chart, Shapir Engineering and Industry ranks #1098 out of 1215 companies for Graham Number. This places Shapir Engineering and Industry in the lower half of its industry. The industry median Graham Number is 1.00. 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 Construction company?
The median Graham Number among Construction companies is 1.00, based on 1,215 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 Shapir Engineering and Industry and its competitors. For the Construction industry, the median Graham Number is 1.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shapir Engineering and Industry's current Graham Number is ₪12.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shapir Engineering and Industry stock overvalued right now?
Based on GuruFocus' analysis, Shapir Engineering and Industry (XTAE:SPEN) is currently considered Significantly Overvalued. The stock's GF Value™ is ₪32.57, compared to a current price of ₪43.14 — trading 32.5% above its estimated fair value. The current Graham Number is ₪12.89. Shapir Engineering and Industry's overall GF Score™ is 88/100 with 7 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 Shapir Engineering and Industry (XTAE:SPEN), the current Graham Number is ₪12.89 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 Shapir Engineering and Industry (XTAE:SPEN) Overvalued in 2026?
Based on GuruFocus' analysis, Shapir Engineering and Industry stock appears to be overvalued.
The current stock price of ₪43.14 is trading 32.5% above its estimated GF Value™ of ₪32.57.
GuruFocus considers Shapir Engineering and Industry to be Significantly Overvalued.
Key valuation signals for XTAE:SPEN:
Graham Number: ₪12.89
GF Value™: ₪32.57 vs. price of ₪43.14 (32.5% above fair value)
No single metric tells the full story. See the XTAE:SPEN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shapir Engineering and Industry Ltd is an Israel-based company which is active in engineering and construction industry. It is engaged in manufacturing and supplying of aggregates and road materials, concrete, concrete fabricated plant as well as asphalt for road paving. The company also manufactures ready mix concrete and building finishing products and prefabricated elements from prestressed and precast concrete. Shapir focuses on developing high-quality apartment buildings and other apartments in various projects through Israel.
88GF Score
Get the complete analysis for XTAE:SPEN
Graham Number is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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