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 Tata Motors Passenger Vehicles's Graham Number or its related term are showing as below:
NSE:TMPV'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.87 Med: 1.28 Max: 12.45
Current: 9.54
During the past 13 years, the highest Price to Graham Number ratio of Tata Motors Passenger Vehicles was 12.45. The lowest was 0.87. And the median was 1.28.
NSE:TMPV's Price-to-Graham-Number is ranked worse than 98.78% of 985
companies
in the Vehicles & Parts industry
Industry Median: 1.19
vs NSE:TMPV: 9.54
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Tata Motors Passenger Vehicles (NSE:TMPV) 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.
Tata Motors Passenger Vehicles's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
349.70
/
36.66
=
9.54
* 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.
Tata Motors Passenger Vehicles Graham Number Related Terms
Tata Motors Passenger Vehicles 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.
Tata Motors Passenger Vehicles Graham Number Chart
For the Auto Manufacturers subindustry, Tata Motors Passenger Vehicles'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.
Tata Motors Passenger Vehicles Price-to-Graham-Number vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Tata Motors Passenger Vehicles's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Tata Motors Passenger Vehicles'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.
Tata Motors Passenger Vehicles (NSE:TMPV) has a Graham Number of ₹36.66 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Tata Motors Passenger Vehicles and its competitors. This is 2764% above median its historical median of 1.28. Over the past decade, Tata Motors Passenger Vehicles' Graham Number has ranged from 0.87 to 12.45. According to the industry distribution chart, Tata Motors Passenger Vehicles ranks #973 out of 985 companies in the Vehicles & Parts industry, placing it in the top 98.8%.
Is Tata Motors Passenger Vehicles' Graham Number too high?
Tata Motors Passenger Vehicles' current Graham Number of ₹36.66 is 2764% above median its 10-year median of 1.28. Over the past 10 years, this metric has ranged from a low of 0.87 to a high of 12.45. Based on the distribution chart, Tata Motors Passenger Vehicles ranks #973 out of 985 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Tata Motors Passenger Vehicles has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tata Motors Passenger Vehicles' Graham Number compare to TSLA and GM?
According to the Vehicles & Parts industry distribution chart, Tata Motors Passenger Vehicles ranks #973 out of 985 companies for Graham Number. This places Tata Motors Passenger Vehicles in the lower half of its industry. The industry median Graham Number is 1.19. Historically, Tata Motors Passenger Vehicles' own Graham Number has ranged from 0.87 to 12.45 over the past decade. 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 Vehicles & Parts company?
The median Graham Number among Vehicles & Parts companies is 1.19, based on 985 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 Tata Motors Passenger Vehicles and its competitors. For the Vehicles & Parts industry, the median Graham Number is 1.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tata Motors Passenger Vehicles's current Graham Number is ₹36.66, which is 2764% above median its own 10-year median of 1.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tata Motors Passenger Vehicles stock overvalued right now?
Based on GuruFocus' analysis, Tata Motors Passenger Vehicles (NSE:TMPV) is currently considered Fairly Valued. The stock's GF Value™ is ₹333.08, compared to a current price of ₹349.70 — trading 5% above its estimated fair value. The current Graham Number is ₹36.66, which is 2764% above median its 10-year median of 1.28. Tata Motors Passenger Vehicles' overall GF Score™ is 69/100 with 6 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 Tata Motors Passenger Vehicles (NSE:TMPV), the current Graham Number is ₹36.66 as of Mar. 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 Tata Motors Passenger Vehicles (NSE:TMPV) Overvalued in 2026?
Based on GuruFocus' analysis, Tata Motors Passenger Vehicles stock appears to be overvalued.
The current stock price of ₹349.70 is trading 5% above its estimated GF Value™ of ₹333.08.
GuruFocus considers Tata Motors Passenger Vehicles to be Fairly Valued.
Key valuation signals for NSE:TMPV:
Graham Number: ₹36.66 (2764% above median its 10-year median of 1.28)
GF Value™: ₹333.08 vs. price of ₹349.70 (5% above fair value)
No single metric tells the full story. See the NSE:TMPV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tata Motors Passenger Vehicles Business Description
Tata Motors Passenger Vehicles Ltd Formerly Tata Motors Ltd designs, manufactures and sells a wide range of automotive vehicles and provides information technology services. The company also manufactures engines for industrial applications. Its operating segments include Automotive and Others. It mainly operates in the automotive business. The automotive business includes all activities relating to development, design, manufacture, assembly and sale of vehicles, as well as sale of related parts, accessories and services. The Automotive segment consists of three reportable sub-segments: Tata Commercial Vehicles, Tata Passenger Vehicles and Jaguar Land Rover of which majority of revenue comes from Jaguar Land Rover. It has majority of sales from India followed by United States, UK, etc.
69GF Score
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