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Casey's General Stores Graham Number

: $69.17 (As of Jul. 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 (2019-10-18), the stock price of Casey's General Stores is $164.60. Casey's General Stores's graham number for the quarter that ended in Jul. 2019 was $69.17. Therefore, Casey's General Stores's Price to Graham Number ratio for today is 2.38.

NAS:CASY' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.45   Max: 2.51
Current: 2.38

0.45
2.51

During the past 13 years, the highest Price to Graham Number ratio of Casey's General Stores was 2.51. The lowest was 0.45. And the median was 1.37.

NAS:CASY's Price-to-Graham-Number is ranked lower than
74% of the 244 Companies
in the Retail - Defensive industry.

( Industry Median: 1.33 vs. NAS:CASY: 2.38 )

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


Casey's General Stores 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.

Casey's General Stores Annual Data
Apr10 Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19
Graham Number Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 44.81 56.18 52.16 75.12 65.11

Casey's General Stores Quarterly Data
Oct14 Jan15 Apr15 Jul15 Oct15 Jan16 Apr16 Jul16 Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19
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 78.03 83.36 63.95 65.11 69.17

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.


Casey's General Stores Graham Number Distribution

* The bar in red indicates where Casey's General Stores's Graham Number falls into.



Casey's General Stores Graham Number Calculation

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

Casey's General Stores's Graham Number for the fiscal year that ended in Apr. 2019 is calculated as

Graham Number
=sqrt of (22.5* Tangible Book per Share *EPS without NRI)
=sqrt of (22.5*34.195*5.51)
=65.11

Casey's General Stores's Graham Number for the quarter that ended in Jul. 2019 is calculated as

Graham Number
=sqrt of (22.5*Tangible Book per Share*EPS without NRI (TTM))
=sqrt of (22.5*35.916*5.92)
=69.17

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


Casey's General Stores  (NAS:CASY) 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.

Casey's General Stores's Price to Graham number Ratio for today is calculated as

Price to Graham number=Share Price (Today)/Graham number (Q: Jul. 2019 )
=164.60/69.17
=2.38

* 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.


Casey's General Stores Graham Number Related Terms


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