CBWA (Commencement Bancorp) E10: $1.25 (As of Jun. 2026)

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Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

CBWA Commencement Bancorp Inc CBWA
63 GF Score
Price $19.30
GF Value $17.54
Valuation Fairly Valued
! 3 Warning Signs
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What is Commencement Bancorp E10?

Commencement Bancorp CBWA +0.57% 63 E10 is $1.25 as of Jun. 2026. GuruFocus rates CBWA with a GF Score™ of 63/100 and a GF Value™ of $17.54 (Fairly Valued). The stock has 3 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.

Commencement Bancorp's adjusted earnings per share data for the three months ended in Jun. 2026 was $0.480. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.25 for the trailing ten years ended in Jun. 2026.

During the past 12 months, Commencement Bancorp's average E10 Growth Rate was 16.80% 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.

As of today (2026-08-19), Commencement Bancorp's current stock price is $19.30. Commencement Bancorp's E10 for the quarter that ended in Jun. 2026 was $1.25. Commencement Bancorp's Shiller PE Ratio of today is 15.44.

During the past 13 years, the highest Shiller PE Ratio of Commencement Bancorp was 15.44. The lowest was 9.90. And the median was 11.76.


Commencement Bancorp  (OTCPK:CBWA) 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.

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

Shiller PE Ratio=Share Price/E10
=19.30/1.25
=15.44

* 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 Commencement Bancorp was 15.44. The lowest was 9.90. And the median was 11.76.


Be Aware

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


Commencement Bancorp E10 Related Terms


Commencement Bancorp E10 Historical Data

* Premium members only.

The historical data trend for Commencement Bancorp'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.

Commencement Bancorp E10 Chart

Commencement Bancorp 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 0.00 0.00 0.96 1.00 1.15

Commencement Bancorp Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 1.07 1.12 1.15 1.20 1.25

CBWA vs DWNX, LFGP, HFBK: E10 Comparison

For the Banks - Regional subindustry, Commencement Bancorp'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.


Commencement Bancorp Shiller PE Ratio vs Banks Industry

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

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


CBWA
63GF Score
Commencement Bancorp Inc CBWA
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Commencement Bancorp 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, Commencement Bancorp's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0.48/333.9520*333.9520
=0.480

Current CPI (Jun. 2026) = 333.9520.

Commencement Bancorp Quarterly Data

per share eps CPI Adj_EPS
201609 0.041 241.428 0.057
201612 0.134 241.432 0.185
201703 0.136 243.801 0.186
201706 0.155 244.955 0.211
201709 0.227 246.819 0.307
201712 -0.018 246.524 -0.024
201803 0.300 249.554 0.401
201806 0.309 251.989 0.410
201809 0.325 252.439 0.430
201812 0.290 251.233 0.385
201903 0.255 254.202 0.335
201906 0.250 256.143 0.326
201909 0.370 256.759 0.481
201912 0.273 256.974 0.355
202003 0.230 258.115 0.298
202006 0.140 257.797 0.181
202009 0.290 260.280 0.372
202012 0.300 260.474 0.385
202103 0.380 264.877 0.479
202106 -0.010 271.696 -0.012
202109 0.340 274.310 0.414
202112 0.292 278.802 0.350
202203 0.240 287.504 0.279
202206 0.270 296.311 0.304
202209 0.450 296.808 0.506
202212 0.411 296.797 0.462
202303 0.180 301.836 0.199
202306 0.180 305.109 0.197
202309 0.190 307.789 0.206
202312 0.212 306.746 0.231
202403 0.190 312.332 0.203
202406 0.200 314.175 0.213
202409 0.250 315.301 0.265
202412 0.140 315.605 0.148
202503 0.340 319.799 0.355
202506 0.400 322.561 0.414
202509 0.490 324.800 0.504
202512 0.550 324.054 0.567
202603 0.440 330.213 0.445
202606 0.480 333.952 0.480

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 $1.25 mean?
Commencement Bancorp (CBWA) has a E10 of $1.25 as of Jun. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Commencement Bancorp and its competitors.
Is Commencement Bancorp's E10 too high?
Commencement Bancorp's current E10 is $1.25. Overall, Commencement Bancorp has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Commencement Bancorp's E10 compare to DWNX and LFGP?
Commencement Bancorp's E10 of $1.25 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 Commencement Bancorp and its competitors. Commencement Bancorp's current E10 is $1.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Commencement Bancorp stock overvalued right now?
Based on GuruFocus' analysis, Commencement Bancorp (CBWA) is currently considered Fairly Valued. The stock's GF Value™ is $17.54, compared to a current price of $19.30 — trading 10% above its estimated fair value. The current E10 is $1.25. Commencement Bancorp's overall GF Score™ is 63/100 with 3 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 Commencement Bancorp (CBWA), the current E10 is $1.25 as of Jun. 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 Commencement Bancorp (CBWA) Overvalued in 2026?

Based on GuruFocus' analysis, Commencement Bancorp stock appears to be overvalued. The current stock price of $19.30 is trading 10% above its estimated GF Value™ of $17.54. GuruFocus considers Commencement Bancorp to be Fairly Valued.

Key valuation signals for CBWA:

  • E10: $1.25
  • GF Value™: $17.54 vs. price of $19.30 (10% above fair value)
  • GF Score™: 63/100 with 3 warning signs

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


Commencement Bancorp Business Description

Address 1313 Broadway, Suite 400, Tacoma, WA, USA, 98402
Commencement Bancorp Inc is a holding company that operates through its subsidiary. It provides loan and deposit services to customers, who are predominately individuals and small and midsized businesses in western Washington. The company offers banking products and services such as Personal Banking which includes Personal Checking, Personal Loans & Credit, Savings & Money markets, Business Banking which includes Business Loans, Checking & Savings, Business Services, and Merchant Services.
63GF Score

Get the complete analysis for CBWA

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

$19.30
Price
$17.54
GF Value