FNNNF (Finnair Oyj) E10: $-1.21 (As of Jun. 2026)

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Director of Data and Quant Analytics at GuruFocus
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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.

FNNNF Finnair Oyj FNNNF
63 GF Score
Price $5.58
GF Value $3.11
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Finnair Oyj E10?

Finnair Oyj FNNNF -2.62% 63 E10 is $-1.21 as of Jun. 2026. GuruFocus rates FNNNF with a GF Score™ of 63/100 and a GF Value™ of $3.11 (Significantly Overvalued). The stock has 6 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.

Finnair Oyj's adjusted earnings per share data for the three months ended in Jun. 2026 was $0.323. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $-1.21 for the trailing ten years ended in Jun. 2026.

During the past 3 years, the average E10 Growth Rate was 6.20% per year. During the past 5 years, the average E10 Growth Rate was -18.00% 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 Finnair Oyj was 6.20% per year. The lowest was -193.70% per year. And the median was -16.80% per year.

As of today (2026-08-10), Finnair Oyj's current stock price is $5.575. Finnair Oyj's E10 for the quarter that ended in Jun. 2026 was $-1.21. Finnair Oyj's Shiller PE Ratio of today is .

During the past 13 years, the highest Shiller PE Ratio of Finnair Oyj was 468.96. The lowest was 28.20. And the median was 89.02.


Finnair Oyj  (OTCPK:FNNNF) 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.

During the past 13 years, the highest Shiller P/E Ratio of Finnair Oyj was 468.96. The lowest was 28.20. And the median was 89.02.


Be Aware

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


Finnair Oyj E10 Related Terms


Finnair Oyj E10 Historical Data

* Premium members only.

The historical data trend for Finnair Oyj'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.

Finnair Oyj E10 Chart

Finnair Oyj 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 -0.84 -1.47 -0.95 -1.06 -1.34

Finnair Oyj 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 -1.10 -1.38 -1.34 -1.40 -1.21

FNNNF vs DAL, UAL, LUV: E10 Comparison

For the Airlines subindustry, Finnair Oyj'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.


Finnair Oyj Shiller PE Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Finnair Oyj's Shiller PE Ratio distribution charts can be found below:

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


FNNNF
63GF Score
Finnair Oyj FNNNF
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Finnair Oyj 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, Finnair Oyj'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)
=0.323/125.0800*125.0800
=0.323

Current CPI (Jun. 2026) = 125.0800.

Finnair Oyj Quarterly Data

per share eps CPI Adj_EPS
201609 2.290 100.540 2.849
201612 0.261 101.020 0.323
201703 -0.298 100.910 -0.369
201706 1.737 101.140 2.148
201709 2.616 101.320 3.229
201712 0.402 101.510 0.495
201803 0.305 101.730 0.375
201806 -0.542 102.320 -0.663
201809 1.876 102.600 2.287
201812 0.844 102.710 1.028
201903 -1.153 102.870 -1.402
201906 0.759 103.360 0.918
201909 1.479 103.540 1.787
201912 0.560 103.650 0.676
202003 -3.895 103.490 -4.708
202006 -4.726 103.320 -5.721
202009 -2.966 103.710 -3.577
202012 -0.385 103.890 -0.464
202103 -2.198 104.870 -2.622
202106 -1.820 105.360 -2.161
202109 -1.580 106.290 -1.859
202112 -1.138 107.490 -1.324
202203 -2.773 110.950 -3.126
202206 -3.549 113.570 -3.909
202209 -0.499 114.920 -0.543
202212 0.530 117.320 0.565
202303 -0.096 119.750 -0.100
202306 1.647 120.690 1.707
202309 0.544 121.280 0.561
202312 0.447 121.540 0.460
202403 -0.163 122.360 -0.167
202406 0.097 122.230 0.099
202409 0.311 122.260 0.318
202412 -0.042 122.390 -0.043
202503 -0.270 123.010 -0.275
202506 0.069 122.530 0.070
202509 0.176 122.880 0.179
202512 0.152 122.670 0.155
202603 -0.046 124.670 -0.046
202606 0.323 125.080 0.323

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 $-1.21 mean?
Finnair Oyj (FNNNF) has a E10 of $-1.21 as of Jun. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Finnair Oyj and its competitors.
Is Finnair Oyj's E10 too high?
Finnair Oyj's current E10 is $-1.21. Overall, Finnair Oyj has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Finnair Oyj's E10 compare to DAL and UAL?
Finnair Oyj's E10 of $-1.21 can be compared against companies in the Transportation 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 Transportation company?
A good E10 depends on the Transportation 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 Finnair Oyj and its competitors. Finnair Oyj's current E10 is $-1.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Finnair Oyj stock overvalued right now?
Based on GuruFocus' analysis, Finnair Oyj (FNNNF) is currently considered Significantly Overvalued. The stock's GF Value™ is $3.11, compared to a current price of $5.58 — trading 79.3% above its estimated fair value. The current E10 is $-1.21. Finnair Oyj's overall GF Score™ is 63/100 with 6 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 Finnair Oyj (FNNNF), the current E10 is $-1.21 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 Finnair Oyj (FNNNF) Overvalued in 2026?

Based on GuruFocus' analysis, Finnair Oyj stock appears to be overvalued. The current stock price of $5.58 is trading 79.3% above its estimated GF Value™ of $3.11. GuruFocus considers Finnair Oyj to be Significantly Overvalued.

Key valuation signals for FNNNF:

  • E10: $-1.21
  • GF Value™: $3.11 vs. price of $5.58 (79.3% above fair value)
  • GF Score™: 63/100 with 6 warning signs

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


Finnair Oyj Business Description

Address Tietotie 9 A Helsinki Airport, PO Box 15, Vantaa, FIN, 01053
Finnair Oyj is a Finland-based airline company that provides air transport operations and supporting services. The company is engaged in delivering services for scheduled passenger and charter traffic as well as cargo sales, customer service and service concepts, flight operations, and activities connected with the procurement and financing of aircraft. The company also provides travel services which consist of travel agency operations as well as tour operations and travel sector software business operations. It operates in only one segment which is Airline Business. Its travel services provide various traveling packages to customers through its travel operators and travel agencies, support services include catering services, Aircraft maintenance, ground handling, and Airline training.
63GF Score

Get the complete analysis for FNNNF

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

$5.58
Price
$3.11
GF Value