← GrahamWise Global

Methodology

A mechanical, published methodology — not a recommendation. Every figure traces to an SEC filing.

The 8 defensive-investor rules

Benjamin Graham's The Intelligent Investor(1949, revised through 1973) proposed a checklist a "defensive" investor could apply to any stock without deep analysis: adequate company size, a strong current ratio, debt held within working capital, a decade of positive earnings, an unbroken dividend record, steady earnings growth, and two price ceilings — one against earnings, one combining earnings and book value. GrahamWise applies these eight rules exactly as published, using the company's own filed financials.

Modern rules vs. Graham classic 1973

Graham's 1973 text calls for 20 consecutive years of dividends. Later restatements of his rules — accounting for shorter modern listing histories — commonly accept 10 years instead. GrahamWise Global precomputes both readings; toggling between them on a verdict page recomputes the pass count instantly, with no other rule affected.

Fair value & margin of safety

Graham's classic formula estimates fair value as the square root of (max earnings multiple × max book multiple × earnings per share × book value per share) — his own defaults being 15× earnings and 1.5× book, a combined ceiling of 22.5. Margin of safety is the gap between that fair value and the current price, expressed as a percentage of fair value. The calculator on each verdict page lets you adjust either multiple and see both figures recompute live.

Classifications

Defensivepasses enough rules for Graham's conservative investor standard.
Enterprisingsuits a more active investor willing to do further work; some rules unmet.
Net-nettrades below net current asset value, a rare, special-situation case.
Speculativea category, not a warning: doesn't meet the defensive/enterprising bar on this data.
Insufficient datafilings don't yet cover enough history to classify.

Provenance

Terminal mode shows the exact source filing, its filed date, and its SEC accession number, with a direct link to EDGAR and a CSV export of the underlying per-share record — so every number can be checked against the primary source.