Shui On Land (HKSE:00272) Graham Number : HK$3.87 (As of Dec. 2023)

Shui On Land Graham Number Chart

Shui On Land Annual Data
	Trend	Dec14	Dec15	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22	Dec23
Graham Number		Get a 7-Day Free Trial					6.22	-	6.53	3.96	3.87

Shui On Land Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Graham Number	Get a 7-Day Free Trial															6.51	4.92	4.01	4.38	3.87

Competitive Comparison of Shui On Land's Graham Number

For the Real Estate - Development subindustry, Shui On Land'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.

Shui On Land's Price-to-Graham-Number Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Shui On Land's Price-to-Graham-Number distribution charts can be found below:

* The bar in red indicates where Shui On Land's Price-to-Graham-Number falls into.

Shui On Land Graham Number Calculation

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

Shui On Land's Graham Number for the fiscal year that ended in Dec. 2023 is calculated as

Shui On Land's Graham Number for the quarter that ended in Dec. 2023 is calculated as

* 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.

Shui On Land  (HKSE:00272) 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.

Shui On Land's Price to Graham number Ratio for today is calculated as

* 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.

Shui On Land Graham Number Related Terms

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Shui On Land (HKSE:00272) Business Description