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Western Asset Global High Fd Graham Number

: $9.09 (As of Nov. 2021)
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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 (2022-05-16), the stock price of Western Asset Global High Fd is $7.4433. Western Asset Global High Fd's graham number for the quarter that ended in Nov. 2021 was $9.09. Therefore, Western Asset Global High Fd's Price to Graham Number ratio for today is 0.82.

The historical rank and industry rank for Western Asset Global High Fd's Graham Number or its related term are showing as below:

EHI' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.52   Med: 0.76   Max: 1.07
Current: 0.82

During the past 4 years, the highest Price to Graham Number ratio of Western Asset Global High Fd was 1.07. The lowest was 0.52. And the median was 0.76.

EHI's Price-to-Graham-Number is ranked worse than
72.05% of 1356 companies
in the Asset Management industry
Industry Median: 0.54 vs EHI: 0.82

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


Western Asset Global High Fd Graham Number Historical Data

The historical data trend for Western Asset Global High Fd'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.

* Premium members only.

Western Asset Global High Fd Annual Data
Trend May18 May19 May20 May21
Graham Number
3.09 12.70 - 20.07

Western Asset Global High Fd Semi-Annual Data
Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21
Graham Number Premium Member Only Premium Member Only Premium Member Only Premium Member Only 17.78 - 12.82 20.14 9.09

Competitive Comparison

For the Asset Management subindustry, Western Asset Global High Fd's Graham Number, along with its competitors' market caps and 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.

   

Western Asset Global High Fd Graham Number Distribution

For the Asset Management industry and Financial Services sector, Western Asset Global High Fd's Graham Number distribution charts can be found below:

* The bar in red indicates where Western Asset Global High Fd's Graham Number falls into.



Western Asset Global High Fd Graham Number Calculation

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

Western Asset Global High Fd's Graham Number for the fiscal year that ended in May. 2021 is calculated as

Graham Number
=sqrt of (22.5* Tangible Book per Share *EPS without NRI)
=sqrt of (22.5*10.656*1.68)
=20.07

Western Asset Global High Fd's Graham Number for the quarter that ended in Nov. 2021 is calculated as

Graham Number
=sqrt of (22.5*Tangible Book per Share*EPS without NRI (TTM))
=sqrt of (22.5*10.15*0.362)
=9.09

* 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.


Western Asset Global High Fd  (NYSE:EHI) 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.

Western Asset Global High Fd's Price to Graham number Ratio for today is calculated as

Price to Graham number=Share Price (Today)/Graham number (Q: Nov. 2021 )
=7.4433/9.09
=0.82

* 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.


Western Asset Global High Fd Graham Number Related Terms

Thank you for viewing the detailed overview of Western Asset Global High Fd's Graham Number provided by GuruFocus.com. Please click on the following links to see related term pages.


Western Asset Global High Fd Business Description

Western Asset Global High Fd logo
Industry
Financial Services » Asset Management NAICS : 523930 SIC : 6282
Traded in Other Exchanges
N/A
Address
620 Eighth Avenue, 49th Floor, New York, NY, USA, 10018
Western Asset Global High Inc Fd Inc is a non-diversified, closed-end management investment company. Its investment objective is high current income and total return by investing in a global portfolio of securities. The fund invests in various sectors such as Consumer Discretionary, Energy, Healthcare, Industrials, materials, and others.
Executives
Fergerson Laura F other: Manager/Investment Manager 3310 QUALITY DRIVE 2ND FLOOR RANCHO CORDOVA CA 95670
Eakes Brian other: Manager/Investment Manager 100 INTERNATIONAL DRIVE BALTIMORE MD 21202
Hoyt George P. officer: Secretary and Ch Lgl Officer C/O FRANKLIN TEMPLETON 100 FIRST STAMFORD PLACE STAMFORD CT 06902
Nicholls Matthew other: Director of Sub-Adviser ONE FRANKLIN PARKWAY SAN MATEO CA 94403
Bolt Jennifer J other: Director of Sub-Adviser C/O FRANKLIN RESOURCES, INC. ONE FRANKLIN PARKWAY SAN MATEO CA 94403-1906
Plafker Jed A. other: Director of Sub-Adviser ONE FRANKLIN PARKWAY SAN MATEO CA 94403
Saba Capital Management, L.p. 10 percent owner 405 LEXINGTON AVENUE 58TH FLOOR NEW YORK NY 10174
Weinstein Boaz 10 percent owner 405 LEXINGTON AVENUE 58TH FLOOR NEW YORK NY 10174
Jensen Fred Steven officer: Chief Compliance Officer LEGG MASON 620 EIGHTH AVENUE, 49TH FLOOR NEW YORK NY 10018
Cronin Daniel P director 235 EAST 42ND ST NEW YORK NY 10017
Hutchinson William R director 535 N MICHIGAN STE 1012 CHICAGO IL 60611
Berarducci Christopher officer: Treas/Principal Finan Officer LEGG MASON 620 EIGHTH AVENUE NEW YORK NY 10018
Kumar Nisha director 1735 MARKET STREET 32ND FLOOR PHILADELPHIA PA 19103
Berg Jennifer S officer: Treasurer 100 INTERNATIONAL DRIVE 7TH FLOOR BALTIMORE MD 21202
Kuehl Todd F officer: Chief Compliance Officer 1555 PEACHTREE STREET NE ATLANTA 2Q 30309

Western Asset Global High Fd Headlines

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