AWTRF (Air Water) E10: $0.90 (As of Sep. 2025)


AWTRF Air Water Inc AWTRF
86 GF Score
Price $14.75
GF Value $11.73
Valuation Modestly Overvalued
! 14 Warning Signs
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What is Air Water E10?

Air Water AWTRF 86 E10 is $0.90 as of Sep. 2025. GuruFocus rates AWTRF with a GF Score™ of 86/100 and a GF Value™ of $11.73 (Modestly Overvalued). The stock has 14 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Air Water's adjusted earnings per share data for the three months ended in Sep. 2025 was $-0.941. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.90 for the trailing ten years ended in Sep. 2025.

During the past 12 months, Air Water's average E10 Growth Rate was -2.70% per year. During the past 3 years, the average E10 Growth Rate was 9.30% per year. During the past 5 years, the average E10 Growth Rate was 8.70% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Air Water was 9.30% per year. The lowest was 6.70% per year. And the median was 7.80% per year.

As of today (2026-06-30), Air Water's current stock price is $14.75. Air Water's E10 for the quarter that ended in Sep. 2025 was $0.90. Air Water's Shiller PE Ratio of today is 16.39.

During the past 13 years, the highest Shiller PE Ratio of Air Water was 26.19. The lowest was 10.79. And the median was 14.39.


Air Water  (OTCPK:AWTRF) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Air Water's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=14.75/0.90
=16.39

* 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.

During the past 13 years, the highest Shiller P/E Ratio of Air Water was 26.19. The lowest was 10.79. And the median was 14.39.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Air Water E10 Related Terms


Air Water E10 Historical Data

* Premium members only.

The historical data trend for Air Water's E10 can be seen below:

* 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.

Air Water E10 Chart

Air Water Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.01 1.06 1.08 0.83 0.98

Air Water Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.93 0.95 0.98 0.86 0.90

AWTRF vs LIN, SHW, ECL: E10 Comparison

For the Specialty Chemicals subindustry, Air Water's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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.


Air Water Shiller PE Ratio vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Air Water's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Air Water's Shiller PE Ratio falls into.


AWTRF
86GF Score
Air Water Inc AWTRF
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Air Water E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Air Water's adjusted earnings per share data for the three months ended in Sep. 2025 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2025 (Change)*Current CPI (Sep. 2025)
=-0.941/112.0000*112.0000
=-0.941

Current CPI (Sep. 2025) = 112.0000.

Air Water Quarterly Data

per share eps CPI Adj_EPS
201512 0.246 98.100 0.281
201603 0.071 97.900 0.081
201606 0.258 98.100 0.295
201609 0.252 98.000 0.288
201612 0.354 98.400 0.403
201703 0.181 98.100 0.207
201706 0.222 98.500 0.252
201709 0.282 98.800 0.320
201712 0.355 99.400 0.400
201803 0.309 99.200 0.349
201806 0.314 99.200 0.355
201809 0.230 99.900 0.258
201812 0.360 99.700 0.404
201903 0.357 99.700 0.401
201906 0.337 99.800 0.378
201909 0.301 100.100 0.337
201912 0.493 100.500 0.549
202003 0.283 100.300 0.316
202006 0.182 99.900 0.204
202009 0.260 99.900 0.291
202012 0.448 99.300 0.505
202103 0.252 99.900 0.283
202106 0.428 99.500 0.482
202109 0.398 100.100 0.445
202112 0.448 100.100 0.501
202203 0.412 101.100 0.456
202206 0.266 101.800 0.293
202209 0.253 103.100 0.275
202212 0.331 104.100 0.356
202303 0.449 104.400 0.482
202306 0.222 105.200 0.236
202309 0.302 106.200 0.318
202312 0.418 106.800 0.438
202403 0.389 107.200 0.406
202406 0.260 108.200 0.269
202409 0.239 108.900 0.246
202412 0.507 110.700 0.513
202503 0.412 111.100 0.415
202506 0.324 111.700 0.325
202509 -0.941 112.000 -0.941

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of $0.90 mean?
Air Water (AWTRF) has a E10 of $0.90 as of Sep. 2025. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Air Water and its competitors.
Is Air Water's E10 too high?
Air Water's current E10 is $0.90. Overall, Air Water has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Air Water's E10 compare to LIN and SHW?
Air Water's E10 of $0.90 can be compared against companies in the Chemicals industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for a Chemicals company?
A good E10 depends on the Chemicals industry context. However, E10 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 E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Air Water and its competitors. Air Water's current E10 is $0.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Air Water stock overvalued right now?
Based on GuruFocus' analysis, Air Water (AWTRF) is currently considered Modestly Overvalued. The stock's GF Value™ is $11.73, compared to a current price of $14.75 — trading 25.7% above its estimated fair value. The current E10 is $0.90. Air Water's overall GF Score™ is 86/100 with 14 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For Air Water (AWTRF), the current E10 is $0.90 as of Sep. 2025. 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 Air Water (AWTRF) Overvalued in 2026?

Based on GuruFocus' analysis, Air Water stock appears to be overvalued. The current stock price of $14.75 is trading 25.7% above its estimated GF Value™ of $11.73. GuruFocus considers Air Water to be Modestly Overvalued.

Key valuation signals for AWTRF:

  • E10: $0.90
  • GF Value™: $11.73 vs. price of $14.75 (25.7% above fair value)
  • GF Score™: 86/100 with 14 warning signs

No single metric tells the full story. See the AWTRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Air Water Business Description

Other Exchanges 4088:Japan0AW:Germany
Address 2-12-8 Minamisenba, Chuo-ku, Osaka, JPN, 542-0081
Air Water Inc is a diversified conglomerate engaged in the supply of industrial gases and various other businesses and services. The company operates through five segments. The Agri & Foods segment covers the processing and distribution of fruits and vegetables, frozen foods, meat products, and contract manufacturing of beverages. The Digital & Industry segment focuses on industrial gases, electrical, and functional materials. The Energy Solutions segment deals with LP gas, kerosene, and related equipment. The Health & Safety segment provides medical gases, dental and protective materials, hospital equipment, and home medical care services. The Other Businesses segment includes logistics, salt production, overseas industrial gas operations, biomass power, and high-output UPS solutions.
86GF Score

Get the complete analysis for AWTRF

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$14.75
Price
$11.73
GF Value