MAD 219.38 as of today(2019-10-23). Alliances Developpement Immobilier Graham Number explanation, calculation, historical data and more" />Alliances Developpement Immobilier Graham Number | CAS:ADI - GuruFocus.com
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Alliances Developpement Immobilier Graham Number

: MAD 219.38 (As of Jun. 2019)
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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.

As of today (2019-10-23), the stock price of Alliances Developpement Immobilier is MAD 61.00. Alliances Developpement Immobilier's graham number for the quarter that ended in Jun. 2019 was MAD 219.38. Therefore, Alliances Developpement Immobilier's Price to Graham Number ratio for today is 0.28.

CAS:ADI' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.27   Max: 0.85
Current: 0.28

0.27
0.85

During the past 11 years, the highest Price to Graham Number ratio of Alliances Developpement Immobilier was 0.85. The lowest was 0.27. And the median was 0.47.

CAS:ADI's Price-to-Graham-Number is ranked higher than
91% of the 1217 Companies
in the Real Estate Services industry.

( Industry Median: 0.71 vs. CAS:ADI: 0.28 )

Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.


Alliances Developpement Immobilier Graham Number Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Alliances Developpement Immobilier Annual Data
Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec17 Dec18
Graham Number Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 611.24

Alliances Developpement Immobilier Semi-Annual Data
Dec07 Dec08 Jun09 Dec09 Jun10 Dec10 Jun11 Dec11 Jun12 Dec12 Jun13 Dec13 Jun14 Jun15 Jun16 Jun17 Dec17 Jun18 Dec18 Jun19
Graham Number Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 244.16 238.92 219.38

Competitive Comparison
* 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.


Alliances Developpement Immobilier Graham Number Distribution

* The bar in red indicates where Alliances Developpement Immobilier's Graham Number falls into.



Alliances Developpement Immobilier Graham Number Calculation

Graham Number is a concept based on Ben Graham's conservative valuation of companies.

Alliances Developpement Immobilier's Graham Number for the fiscal year that ended in Dec. 2018 is calculated as

Graham Number
=sqrt of (22.5* Tangible Book per Share *EPS without NRI)
=sqrt of (22.5*970.403*17.111696)
=611.24

Alliances Developpement Immobilier's Graham Number for the quarter that ended in Jun. 2019 is calculated as

Graham Number
=sqrt of (22.5*Tangible Book per Share*EPS without NRI (TTM))
=sqrt of (22.5*132.946*16.088717)
=219.38

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Alliances Developpement Immobilier  (CAS:ADI) 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.

Alliances Developpement Immobilier's Price to Graham number Ratio for today is calculated as

Price to Graham number=Share Price (Today)/Graham number (Q: Jun. 2019 )
=61.00/219.38
=0.28

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's 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.


Alliances Developpement Immobilier Graham Number Related Terms


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