Graham's criteria, applied to filings

Value Investing,
Done the Graham Way.

Benjamin Graham's intrinsic value and his classic tests, run on around 4,400 US companies from ten years of their own filed results — plus a check on whether management's story matches them.

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Deeply undervalued (1)

Our deepest-value opportunities

28 Jul 2025

DD

0.91%

DuPont de Nemours, Inc.

$94.23

Buy range

$113–$170

Intrinsic value range$339–$374
150-day avg$91.07

Basic Materials

+49.4%one year

28 Jul 2026one year later

DD

0.21%

DuPont de Nemours, Inc.

$140.77

150-day avg

$138.72

Value range estimated 28 Jul 2025$339–$374

Basic Materials

Adjusted for the Qnity spin-off and the 1-for-3 reverse split

one name at this depth

Left card, 28 July 2025. Right card, 28 July 2026. The screener’s own output a year back, next to where each name actually closed — price only, dividends excluded, which understates every figure rather than flattering it. The right-hand card carries a price, not a fresh valuation: the value range on it is the one estimated in 2025, shown so you can see the price against it. PARA has no pair because Paramount Global was folded into Paramount Skydance during 2025 and no longer trades under that ticker. DD is on a basis adjusted for its Qnity Electronics spin-off and 1-for-3 reverse split, so both of its figures are the same unit. Nothing was chosen with hindsight: these are the screener’s own rows, KMX included, which finished the year down. Past performance is not a prediction, and none of this is advice.

The method, not a stock tip.

01

Graham's tests, actually applied

Earnings stability, debt, current ratio, earnings growth and the price tests — run on every company and reported as passed or failed with the figure that decided it, not as a score you have to take on trust.

02

Buffett's question, not just Graham's

A cheap company run badly stays cheap. So alongside the numbers, Hety reads the chief executive's interviews and earnings calls and checks what they say against what the company filed.

03

Ten years, not one good quarter

Every valuation uses a decade of a company's own reported results. That is the whole point of the method: it is hard to make ten years look like something they were not.

Benjamin Graham stock screener

Graham's criteria, run on every company

The tests from The Intelligent Investor and Security Analysis, applied the same way to around 4,400 US companies. Each one is reported passed or failed with the number behind it, and Graham's intrinsic value formula is worked out beside Hety's own estimate so you can see where the two disagree.

  • Graham's classic tests, passed or failed, with the deciding figure
  • Graham's intrinsic value formula calculated on every company
  • A margin of safety built into the suggested buying range
  • The same method everywhere, so two companies are genuinely comparable
  1. 01Adequate sizeMarket cap above $2B
  2. 02Low debt to equityDebt / equity under 1.1
  3. 03Earnings stabilityProfitable, with no collapse in earnings
  4. 04Dividend historyPays a dividend
  5. 05Earnings growthAbove 3%, on the 10-yr average where it exists
  6. 06Moderate P/EPrice / earnings under 15
  7. 07Moderate P/BPrice / book under 1.5
Criteria passed / 7

Each row is scored against the company's own reported figure and explained in a sentence, so a fail tells you how badly and a pass tells you by how much.

Price against estimated value
UndervaluedMarket ValueOvervalued

Management integrity

Check whether management is being straight with you

A business is only as good as the people running it, and that is the hardest thing to judge from a spreadsheet. Hety studies the chief executive directly — recent interviews, earnings calls, the questions they get asked under pressure — and compares what they say in public with what the company puts in writing.

  • A read on the CEO from recent interviews and earnings calls
  • Public statements checked against what the company actually filed
  • The passages where the two stop matching, shown side by side
  • Done in minutes rather than the weeks it would take by hand

Integrity score · 0–100

Management integrity

Synthesized from recent recordings of the chief executive and read against what the company has filed, then aggregated into one figure alongside quotes.

Passages worth a second look

“…the claim made on the call…”

sits against

“…the position stated in the filing…”

“…an answer that doesn’t settle the question asked…”

flagged for review

10-K vs. earnings call4 topics · 3 calls
  • Gross margin

    Watch

    10-K

    Margin declined year over year on higher input and freight costs.

    Earnings call

    Described as broadly stable, with the decline framed as timing.

    Reality: The direction agrees. The framing does not. Check the quarterly trend yourself.

  • Customer concentration

    Contradiction

    10-K

    Disclosed as a risk factor: a small number of customers is a large share of revenue.

    Earnings call

    Described as a broad, diversified base with no material dependency.

    Reality: The filing discloses a dependency the call denies. This is the gap worth reading twice.

  • Guidance

    Aligned

    10-K

    No forward guidance; forward-looking statements are qualified in the risk factors.

    Earnings call

    Full-year range reaffirmed, with the second half doing the heavier lifting.

    Reality: Consistent, but the shape of the year is a spoken claim the filing does not support.

  • Capital allocation

    Aligned

    10-K

    Buyback authorization and dividend policy stated, with leverage covenants disclosed.

    Earnings call

    Same priorities, same order, no new commitments.

    Reality: Nothing said on the call that the filing does not already carry.

Three simple steps

01

See what's priced well today

Open the screener and see which businesses trade below what they're worth — or look up any stock directly.

02

Update your knowledge

Intrinsic value, Graham's tests, ten years of numbers, the investment case, and a check on management — all in one place.

03

Make clear decisions

Save it, and get told when the price or value changes so that you can act on an opportunity

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Straight answers

Which of Graham's tests do you run?+

The classic screens — earnings stability over a decade, earnings growth, current ratio, debt relative to working capital, and the price tests against earnings and book value. Each is reported passed or failed with the number that decided it, so you can disagree with the threshold and still use the figure.

Is this a Warren Buffett style screener as well?+

It covers the part of Buffett's approach a tool can honestly help with. The numbers side is Graham. The qualitative side — whether management is candid, whether the story in public matches the filings — is what the integrity check is for. What no tool can do for you is judge the business itself, and Hety does not pretend to.

Where do the numbers come from?+

Company filings from SEC EDGAR, audited financial statements, earnings-call transcripts and live market prices. Every valuation is built from ten years of a company's own reported figures — never a forecast, never a single flattering year.

Is this investment advice?+

No. Hety is a research tool. It shows you what a company filed, what its numbers imply, and where the price sits against that — then you decide. Hety is not a registered investment adviser, knows nothing about your circumstances, and never tells you to buy or sell anything.

What does it cover?+

The NYSE and the Nasdaq, plus the S&P 500 and the Dow 30 — around 4,400 US companies, every one valued the same way so they are directly comparable. Upcoming spin-offs are tracked too.

What can I see for free?+

Click Start free and you are in — no signup, no email, no card. You get one company from each undervalued tier, openable in full with every tool on it. Add an email (still free, still no card) and every exchange opens up. The full undervalued list is what the $29 subscription is for.

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Either. $29 a month, or $250 a year — which works out about 28% cheaper, roughly two months free. Cancel any time in one click from settings; billing runs through Stripe so your card details never touch Hety.

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Hety provides research, analysis and educational tools for informational purposes only. Hety is not a registered investment adviser, broker or dealer, and nothing here is personalized investment advice or a recommendation to buy or sell any security. Valuations are estimates produced from historical filed fundamentals; they are not forecasts, and a share price may never reach an estimated range. Investing involves risk, including possible loss of principal. Past performance does not indicate future results. Do your own research and consider speaking to a licensed professional.

Hety is an independent product, not affiliated with or endorsed by any company or index provider referenced on this site.

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