The Graham Number is a financial metric named after Benjamin Graham, the renowned economist and value-investing pioneer. It is a valuation formula used to estimate a stock's intrinsic value by considering a company's earnings and book value per share. The formula for the Graham Number is Graham Number = SQRT(22.5 * EPS * Book Value per Share). The Graham Number is used as a conservative measure of a stock's intrinsic value. It is particularly favored by value investors looking for potentially undervalued stocks. Investors compare the calculated Graham Number with the stock's current market price. If the market price is significantly lower than the Graham Number, it may suggest that the stock is undervalued and could be a potential buying opportunity.