Golden Ventures Leasehold Real Estate Investment Trust (BKK:GVREIT) E10: ฿0.98 (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:GVREIT Golden Ventures Leasehold Real Estate Investment Trust BKK:GVREIT
71 GF Score
Price ฿7.95
GF Value ฿6.34
Valuation Modestly Overvalued
! 8 Warning Signs
View Full Analysis

What is Golden Ventures Leasehold Real Estate Investment Trust E10?

Golden Ventures Leasehold Real Estate Investment Trust BKK:GVREIT -0.62% 71 E10 is ฿0.98 as of Mar. 2026. GuruFocus rates BKK:GVREIT with a GF Score™ of 71/100 and a GF Value™ of ฿6.34 (Modestly Overvalued). The stock has 8 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.

Golden Ventures Leasehold Real Estate Investment Trust's adjusted earnings per share data for the three months ended in Mar. 2026 was ฿0.239. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ฿0.98 for the trailing ten years ended in Mar. 2026.

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.

As of today (2026-07-23), Golden Ventures Leasehold Real Estate Investment Trust's current stock price is ฿7.95. Golden Ventures Leasehold Real Estate Investment Trust's E10 for the quarter that ended in Mar. 2026 was ฿0.98. Golden Ventures Leasehold Real Estate Investment Trust's Shiller PE Ratio of today is 8.11.

During the past 10 years, the highest Shiller PE Ratio of Golden Ventures Leasehold Real Estate Investment Trust was 8.58. The lowest was 6.58. And the median was 6.93.


Golden Ventures Leasehold Real Estate Investment Trust  (BKK:GVREIT) 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.

Golden Ventures Leasehold Real Estate Investment Trust's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=7.95/0.98
=8.11

* 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 10 years, the highest Shiller P/E Ratio of Golden Ventures Leasehold Real Estate Investment Trust was 8.58. The lowest was 6.58. And the median was 6.93.


Be Aware

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


Golden Ventures Leasehold Real Estate Investment Trust E10 Related Terms


Golden Ventures Leasehold Real Estate Investment Trust E10 Historical Data

* Premium members only.

The historical data trend for Golden Ventures Leasehold Real Estate Investment Trust'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.

Golden Ventures Leasehold Real Estate Investment Trust E10 Chart

Golden Ventures Leasehold Real Estate Investment Trust Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Golden Ventures Leasehold Real Estate Investment Trust 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 0.00 0.00 0.00 0.96 0.98

BKK:GVREIT vs BXP, ARE, VNO: E10 Comparison

For the REIT - Office subindustry, Golden Ventures Leasehold Real Estate Investment Trust'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.


Golden Ventures Leasehold Real Estate Investment Trust Shiller PE Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Golden Ventures Leasehold Real Estate Investment Trust's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Golden Ventures Leasehold Real Estate Investment Trust's Shiller PE Ratio falls into.


BKK:GVREIT
71GF Score
Golden Ventures Leasehold Real Estate Investment Trust BKK:GVREIT
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Golden Ventures Leasehold Real Estate Investment Trust 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, Golden Ventures Leasehold Real Estate Investment Trust'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)
=0.239/330.2130*330.2130
=0.239

Current CPI (Mar. 2026) = 330.2130.

Golden Ventures Leasehold Real Estate Investment Trust Quarterly Data

per share eps CPI Adj_EPS
201606 0.202 241.018 0.277
201609 0.098 241.428 0.134
201612 0.209 241.432 0.286
201703 0.220 243.801 0.298
201706 0.217 244.955 0.293
201709 0.148 246.819 0.198
201712 0.220 246.524 0.295
201803 0.228 249.554 0.302
201806 0.244 251.989 0.320
201809 0.608 252.439 0.795
201812 0.235 251.233 0.309
201903 0.242 254.202 0.314
201906 0.232 256.143 0.299
201909 0.382 256.759 0.491
201912 0.236 256.974 0.303
202003 0.229 258.115 0.293
202006 0.202 257.797 0.259
202009 0.249 260.280 0.316
202012 0.281 260.474 0.356
202103 0.235 264.877 0.293
202106 0.246 271.696 0.299
202109 0.103 274.310 0.124
202112 0.241 278.802 0.285
202203 0.234 287.504 0.269
202206 0.242 296.311 0.270
202209 0.072 296.808 0.080
202212 0.241 296.797 0.268
202303 0.237 301.836 0.259
202306 0.243 305.109 0.263
202309 -0.027 307.789 -0.029
202312 0.243 306.746 0.262
202403 0.219 312.332 0.232
202406 0.206 314.175 0.217
202409 -0.107 315.301 -0.112
202412 0.250 315.605 0.262
202503 0.246 319.799 0.254
202506 0.241 322.561 0.247
202509 -0.530 324.800 -0.539
202512 0.209 324.054 0.213
202603 0.239 330.213 0.239

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 ฿0.98 mean?
Golden Ventures Leasehold Real Estate Investment Trust (BKK:GVREIT) has a E10 of ฿0.98 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Golden Ventures Leasehold Real Estate Investment Trust and its competitors.
Is Golden Ventures Leasehold Real Estate Investment Trust's E10 too high?
Golden Ventures Leasehold Real Estate Investment Trust's current E10 is ฿0.98. Overall, Golden Ventures Leasehold Real Estate Investment Trust has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Golden Ventures Leasehold Real Estate Investment Trust's E10 compare to BXP and ARE?
Golden Ventures Leasehold Real Estate Investment Trust's E10 of ฿0.98 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 Golden Ventures Leasehold Real Estate Investment Trust and its competitors. Golden Ventures Leasehold Real Estate Investment Trust's current E10 is ฿0.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Golden Ventures Leasehold Real Estate Investment Trust stock overvalued right now?
Based on GuruFocus' analysis, Golden Ventures Leasehold Real Estate Investment Trust (BKK:GVREIT) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿6.34, compared to a current price of ฿7.95 — trading 25.4% above its estimated fair value. The current E10 is ฿0.98. Golden Ventures Leasehold Real Estate Investment Trust's overall GF Score™ is 71/100 with 8 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 Golden Ventures Leasehold Real Estate Investment Trust (BKK:GVREIT), the current E10 is ฿0.98 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 Golden Ventures Leasehold Real Estate Investment Trust (BKK:GVREIT) Overvalued in 2026?

Based on GuruFocus' analysis, Golden Ventures Leasehold Real Estate Investment Trust stock appears to be overvalued. The current stock price of ฿7.95 is trading 25.4% above its estimated GF Value™ of ฿6.34. GuruFocus considers Golden Ventures Leasehold Real Estate Investment Trust to be Modestly Overvalued.

Key valuation signals for BKK:GVREIT:

  • E10: ฿0.98
  • GF Value™: ฿6.34 vs. price of ฿7.95 (25.4% above fair value)
  • GF Score™: 71/100 with 8 warning signs

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


Golden Ventures Leasehold Real Estate Investment Trust Business Description

Industry Real EstateREITs
Address 944 Rama 4 Road, 22nd Floor, Mitrtown Office Tower, Wangmai, Pathumwan, Bangkok, THA, 10330
Golden Ventures Leasehold Real Estate Investment Trust operates leasehold properties, focusing on office buildings. The company invests in properties located in Thailand. The Trust's objectives are to raise funds from investors both ordinary and juristic persons, including long-term loans from financial institutions and deposits from rental to invest in 2 projects Park Ventures Ecoplex Project and Sathorn Square Project.
71GF Score

Get the complete analysis for BKK:GVREIT

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

฿7.95
Price
฿6.34
GF Value