CPN Retail Growth Leasehold REIT (BKK:CPNREIT) E10: ฿0.97 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BKK:CPNREIT CPN Retail Growth Leasehold REIT BKK:CPNREIT
79 GF Score
Price ฿13.70
GF Value ฿11.49
Valuation Modestly Overvalued
! 10 Warning Signs
View Full Analysis

What is CPN Retail Growth Leasehold REIT E10?

CPN Retail Growth Leasehold REIT BKK:CPNREIT -0.72% 79 E10 is ฿0.97 as of Mar. 2026. GuruFocus rates BKK:CPNREIT with a GF Score™ of 79/100 and a GF Value™ of ฿11.49 (Modestly Overvalued). The stock has 10 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.

CPN Retail Growth Leasehold REIT's adjusted earnings per share data for the three months ended in Mar. 2026 was ฿0.224. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ฿0.97 for the trailing ten years ended in Mar. 2026.

During the past 12 months, CPN Retail Growth Leasehold REIT's average E10 Growth Rate was -5.80% per year. During the past 3 years, the average E10 Growth Rate was -7.00% per year. During the past 5 years, the average E10 Growth Rate was -4.50% 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 CPN Retail Growth Leasehold REIT was -1.30% per year. The lowest was -7.00% per year. And the median was -2.80% per year.

As of today (2026-08-04), CPN Retail Growth Leasehold REIT's current stock price is ฿13.70. CPN Retail Growth Leasehold REIT's E10 for the quarter that ended in Mar. 2026 was ฿0.97. CPN Retail Growth Leasehold REIT's Shiller PE Ratio of today is 14.12.

During the past 13 years, the highest Shiller PE Ratio of CPN Retail Growth Leasehold REIT was 25.72. The lowest was 7.64. And the median was 14.65.


CPN Retail Growth Leasehold REIT  (BKK:CPNREIT) 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.

CPN Retail Growth Leasehold REIT's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=13.70/0.97
=14.12

* 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 CPN Retail Growth Leasehold REIT was 25.72. The lowest was 7.64. And the median was 14.65.


Be Aware

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


CPN Retail Growth Leasehold REIT E10 Related Terms


CPN Retail Growth Leasehold REIT E10 Historical Data

* Premium members only.

The historical data trend for CPN Retail Growth Leasehold REIT'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.

CPN Retail Growth Leasehold REIT E10 Chart

CPN Retail Growth Leasehold REIT Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.23 1.22 1.19 1.08 0.98

CPN Retail Growth Leasehold REIT Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 1.03 1.02 0.98 0.98 0.97

BKK:CPNREIT vs VICI, WPC, BNL: E10 Comparison

For the REIT - Diversified subindustry, CPN Retail Growth Leasehold REIT'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.


CPN Retail Growth Leasehold REIT Shiller PE Ratio vs REITs Industry

For the REITs industry and Real Estate sector, CPN Retail Growth Leasehold REIT's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where CPN Retail Growth Leasehold REIT's Shiller PE Ratio falls into.


BKK:CPNREIT
79GF Score
CPN Retail Growth Leasehold REIT BKK:CPNREIT
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CPN Retail Growth Leasehold REIT 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, CPN Retail Growth Leasehold REIT's adjusted earnings per share data for the three months ended in Mar. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=0.224/330.2130*330.2130
=0.224

Current CPI (Mar. 2026) = 330.2130.

CPN Retail Growth Leasehold REIT Quarterly Data

per share eps CPI Adj_EPS
201606 0.357 241.018 0.489
201609 0.359 241.428 0.491
201612 0.292 241.432 0.399
201703 0.075 243.801 0.102
201706 0.522 244.955 0.704
201709 0.267 246.819 0.357
201712 -1.037 246.524 -1.389
201803 0.352 249.554 0.466
201806 0.532 251.989 0.697
201809 0.379 252.439 0.496
201812 0.359 251.233 0.472
201903 0.396 254.202 0.514
201906 0.387 256.143 0.499
201909 0.383 256.759 0.493
201912 0.242 256.974 0.311
202003 0.356 258.115 0.455
202006 0.020 257.797 0.026
202009 -0.220 260.280 -0.279
202012 -0.021 260.474 -0.027
202103 0.177 264.877 0.221
202106 0.039 271.696 0.047
202109 -0.324 274.310 -0.390
202112 0.440 278.802 0.521
202203 0.179 287.504 0.206
202206 0.328 296.311 0.366
202209 0.258 296.808 0.287
202212 0.045 296.797 0.050
202303 0.243 301.836 0.266
202306 0.290 305.109 0.314
202309 0.487 307.789 0.522
202312 0.219 306.746 0.236
202403 0.339 312.332 0.358
202406 -0.096 314.175 -0.101
202409 0.221 315.301 0.231
202412 0.099 315.605 0.104
202503 0.251 319.799 0.259
202506 0.226 322.561 0.231
202509 0.069 324.800 0.070
202512 0.410 324.054 0.418
202603 0.224 330.213 0.224

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 ฿0.97 mean?
CPN Retail Growth Leasehold REIT (BKK:CPNREIT) has a E10 of ฿0.97 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on CPN Retail Growth Leasehold REIT and its competitors.
Is CPN Retail Growth Leasehold REIT's E10 too high?
CPN Retail Growth Leasehold REIT's current E10 is ฿0.97. Overall, CPN Retail Growth Leasehold REIT has a GF Score™ of 79/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CPN Retail Growth Leasehold REIT's E10 compare to VICI and WPC?
CPN Retail Growth Leasehold REIT's E10 of ฿0.97 can be compared against companies in the REITs 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 REITs company?
A good E10 depends on the REITs 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 CPN Retail Growth Leasehold REIT and its competitors. CPN Retail Growth Leasehold REIT's current E10 is ฿0.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CPN Retail Growth Leasehold REIT stock overvalued right now?
Based on GuruFocus' analysis, CPN Retail Growth Leasehold REIT (BKK:CPNREIT) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿11.49, compared to a current price of ฿13.70 — trading 19.2% above its estimated fair value. The current E10 is ฿0.97. CPN Retail Growth Leasehold REIT's overall GF Score™ is 79/100 with 10 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 CPN Retail Growth Leasehold REIT (BKK:CPNREIT), the current E10 is ฿0.97 as of Mar. 2026. 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 CPN Retail Growth Leasehold REIT (BKK:CPNREIT) Overvalued in 2026?

Based on GuruFocus' analysis, CPN Retail Growth Leasehold REIT stock appears to be overvalued. The current stock price of ฿13.70 is trading 19.2% above its estimated GF Value™ of ฿11.49. GuruFocus considers CPN Retail Growth Leasehold REIT to be Modestly Overvalued.

Key valuation signals for BKK:CPNREIT:

  • E10: ฿0.97
  • GF Value™: ฿11.49 vs. price of ฿13.70 (19.2% above fair value)
  • GF Score™: 79/100 with 10 warning signs

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


CPN Retail Growth Leasehold REIT Business Description

Industry Real EstateREITs
Address No. 999/9 Rama 1 Road, 31st Floor, The Offices at CentralWorld, Pathumwan Sub-district, Pathumwan District, Bangkok, THA, 10330
CPN Retail Growth Leasehold REIT is a closed-end real estate investment trust. Its main business is investing in properties and leasehold rights, seeking the benefits from properties, and properties for rent. The company has invested in a few projects including shopping projects namely Central Rama 2, Central Rama 3, Central Pinklao and Central Chiangmai Airport, and 2 office buildings, Central Pinklao Tower A and Tower B, as well as invested in additional assets, namely Central Pattaya Shopping Center and Hilton Pattaya Hotel Its operational locality is Thailand. The Trust's reportable operating segment was only investments in leasehold properties and securities, which operated in only one geographical segment, i.e. Thailand by recognize revenue over the time.
79GF Score

Get the complete analysis for BKK:CPNREIT

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

฿13.70
Price
฿11.49
GF Value