Bancontander (BUE:SAN) E10: ARS3,493.15 (As of Mar. 2026)


BUE:SAN Banco Santander SA BUE:SAN
41 GF Score
Price ARS82,375.00
GF Value ARS35,233.94
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Bancontander E10?

Bancontander BUE:SAN -0.24% 41 E10 is ARS3,493.15 as of Mar. 2026. GuruFocus rates BUE:SAN with a GF Score™ of 41/100 and a GF Value™ of ARS35,233.94 (Significantly Overvalued). The stock has 7 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.

Bancontander's adjusted earnings per share data for the three months ended in Mar. 2026 was ARS581.929. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ARS3,493.15 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Bancontander's average E10 Growth Rate was 13.60% per year. During the past 3 years, the average E10 Growth Rate was 9.10% per year. During the past 5 years, the average E10 Growth Rate was 7.60% per year. During the past 10 years, the average E10 Growth Rate was -6.60% 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 Bancontander was 40.10% per year. The lowest was -19.40% per year. And the median was 9.00% per year.

As of today (2026-06-28), Bancontander's current stock price is ARS82375.00. Bancontander's E10 for the quarter that ended in Mar. 2026 was ARS3,493.15. Bancontander's Shiller PE Ratio of today is 23.58.

During the past 13 years, the highest Shiller PE Ratio of Bancontander was 23.76. The lowest was 3.74. And the median was 8.23.


Bancontander  (BUE:SAN) 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.

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

Shiller PE Ratio=Share Price/E10
=82375.00/3493.15
=23.58

* 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 Bancontander was 23.76. The lowest was 3.74. And the median was 8.23.


Be Aware

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


Bancontander E10 Related Terms


Bancontander E10 Historical Data

* Premium members only.

The historical data trend for Bancontander'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.

Bancontander E10 Chart

Bancontander 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 308.72 528.83 1,693.35 2,114.01 3,435.55

Bancontander 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 2,506.78 2,563.15 3,343.48 3,435.55 3,493.15

BUE:SAN vs JPM, BAC, WFC: E10 Comparison

For the Banks - Diversified subindustry, Bancontander'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.


Bancontander Shiller PE Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Bancontander's Shiller PE Ratio distribution charts can be found below:

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


BUE:SAN
41GF Score
Banco Santander SA BUE:SAN
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bancontander 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, Bancontander'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)
=581.929/128.4016*128.4016
=581.929

Current CPI (Mar. 2026) = 128.4016.

Bancontander Quarterly Data

per share eps CPI Adj_EPS
201606 1.204 100.333 1.541
201609 1.765 99.737 2.272
201612 1.603 101.842 2.021
201703 1.896 100.896 2.413
201706 1.953 101.848 2.462
201709 1.801 101.524 2.278
201712 1.797 102.975 2.241
201803 2.857 102.122 3.592
201806 2.792 104.165 3.442
201809 4.527 103.818 5.599
201812 4.836 104.193 5.960
201903 4.402 103.488 5.462
201906 3.677 104.612 4.513
201909 1.181 103.905 1.459
201912 9.292 105.015 11.361
202003 0.657 103.469 0.815
202006 -50.079 104.254 -61.678
202009 7.870 103.521 9.762
202012 1.188 104.456 1.460
202103 8.579 104.857 10.505
202106 13.696 107.102 16.420
202109 12.654 107.669 15.091
202112 14.378 111.298 16.588
202203 16.555 115.153 18.460
202206 16.536 118.044 17.987
202209 18.848 117.221 20.646
202212 23.087 117.650 25.197
202303 31.726 118.948 34.248
202306 41.603 120.278 44.413
202309 63.491 121.343 67.185
202312 66.925 121.300 70.843
202403 155.679 122.762 162.831
202406 192.788 124.409 198.976
202409 210.988 123.121 220.038
202412 211.518 124.753 217.704
202503 242.019 125.531 247.554
202506 301.259 127.251 303.983
202509 350.660 126.842 354.972
202512 407.913 128.402 407.913
202603 581.929 128.402 581.929

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 ARS3,493.15 mean?
Bancontander (BUE:SAN) has a E10 of ARS3,493.15 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Bancontander and its competitors.
Is Bancontander's E10 too high?
Bancontander's current E10 is ARS3,493.15. Overall, Bancontander has a GF Score™ of 41/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bancontander's E10 compare to JPM and BAC?
Bancontander's E10 of ARS3,493.15 can be compared against companies in the Banks 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 Banks company?
A good E10 depends on the Banks 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 Bancontander and its competitors. Bancontander's current E10 is ARS3,493.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bancontander stock overvalued right now?
Based on GuruFocus' analysis, Bancontander (BUE:SAN) is currently considered Significantly Overvalued. The stock's GF Value™ is ARS35,233.94, compared to a current price of ARS82,375.00 — trading 133.8% above its estimated fair value. The current E10 is ARS3,493.15. Bancontander's overall GF Score™ is 41/100 with 7 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 Bancontander (BUE:SAN), the current E10 is ARS3,493.15 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 Bancontander (BUE:SAN) Overvalued in 2026?

Based on GuruFocus' analysis, Bancontander stock appears to be overvalued. The current stock price of ARS82,375.00 is trading 133.8% above its estimated GF Value™ of ARS35,233.94. GuruFocus considers Bancontander to be Significantly Overvalued.

Key valuation signals for BUE:SAN:

  • E10: ARS3,493.15
  • GF Value™: ARS35,233.94 vs. price of ARS82,375.00 (133.8% above fair value)
  • GF Score™: 41/100 with 7 warning signs

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


Bancontander Business Description

Address Avenida de Cantabria s/n, Boadilla del Monte, Ciudad Grupo Santander, Madrid, ESP, 28660
Santander's focus is on retail and commercial banking. Latin America is geographically the most significant operation, with Brazil making the largest contribution. Its continental European business is mainly in Spain and Portugal. Santander's UK presence is the result of its acquisition of Abbey building society. In the US, Santander operates a vehicle finance business and a regional bank focused on the Northeastern states.
41GF Score

Get the complete analysis for BUE:SAN

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

ARS82,375.00
Price
ARS35,233.94
GF Value