FYI ... a 74 is professional golfer territory -- most amateurs struggle to break 100 ... so yeah, Graham says Trump's swing is in top shape at the moment.

The two were spotted out at Trump's National Golf Club in Virginia over the weekend ... and when Graham was asked about the round on "Fox And Friends" on Thursday -- he said Trump dominated.

"I've never seen him play this well," the S.C. senator said. "I mean, he's got more on his shoulders -- I'm hoping, 'OK, you know he's a little distracted.' He beat me like a drum!"

Graham says Trump carded a 74 ... which would be just 2-over par on both courses at the club -- a staggering score for a guy who's got so much on his plate at the moment.

CNN was able to shoot some footage of Donald on the tee at one hole ... but no word on where that shot ended up.

Of course, Trump's touted himself as a hell of a golfer over the years ... but guys like Samuel L. Jackson and Oscar De La Hoya swear he's a cheater on the links.

Then again, John Daly told us last year Trump is definitely NOT out there fudging scorecards.