BFF Bank SpA (FRA:2BF) E10: €0.82 (As of Mar. 2026)


FRA:2BF BFF Bank SpA FRA:2BF
51 GF Score
Price €3.07
GF Value €8.29
Valuation Possible Value Trap
! 4 Warning Signs
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What is BFF Bank SpA E10?

BFF Bank SpA FRA:2BF -0.90% 51 E10 is €0.82 as of Mar. 2026. GuruFocus rates FRA:2BF with a GF Score™ of 51/100 and a GF Value™ of €8.29 (Possible Value Trap). The stock has 4 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.

BFF Bank SpA's adjusted earnings per share data for the three months ended in Mar. 2026 was €0.262. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is €0.82 for the trailing ten years ended in Mar. 2026.

During the past 12 months, BFF Bank SpA's average E10 Growth Rate was -3.50% 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.

As of today (2026-06-26), BFF Bank SpA's current stock price is €3.072. BFF Bank SpA's E10 for the quarter that ended in Mar. 2026 was €0.82. BFF Bank SpA's Shiller PE Ratio of today is 3.75.

During the past 13 years, the highest Shiller PE Ratio of BFF Bank SpA was 13.34. The lowest was 1.74. And the median was 10.09.


BFF Bank SpA  (FRA:2BF) 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.

BFF Bank SpA's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=3.072/0.82
=3.75

* 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 BFF Bank SpA was 13.34. The lowest was 1.74. And the median was 10.09.


Be Aware

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


BFF Bank SpA E10 Related Terms


BFF Bank SpA E10 Historical Data

* Premium members only.

The historical data trend for BFF Bank SpA'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.

BFF Bank SpA E10 Chart

BFF Bank SpA 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 0.00 0.85 0.81

BFF Bank SpA 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 0.85 0.86 0.85 0.81 0.82

FRA:2BF vs V, MA, AXP: E10 Comparison

For the Credit Services subindustry, BFF Bank SpA'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.


BFF Bank SpA Shiller PE Ratio vs Credit Services Industry

For the Credit Services industry and Financial Services sector, BFF Bank SpA's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where BFF Bank SpA's Shiller PE Ratio falls into.


FRA:2BF
51GF Score
BFF Bank SpA FRA:2BF
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
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BFF Bank SpA 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, BFF Bank SpA'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)
=0.262/122.6000*122.6000
=0.262

Current CPI (Mar. 2026) = 122.6000.

BFF Bank SpA Quarterly Data

per share eps CPI Adj_EPS
201606 0.060 99.900 0.074
201609 0.072 100.100 0.088
201612 0.183 100.300 0.224
201703 0.201 101.000 0.244
201706 0.097 101.100 0.118
201709 0.104 101.200 0.126
201712 0.160 101.200 0.194
201803 0.116 101.800 0.140
201806 0.127 102.400 0.152
201809 0.098 102.600 0.117
201812 0.201 102.300 0.241
201903 0.126 102.800 0.150
201906 0.098 103.100 0.117
201909 0.130 102.900 0.155
201912 0.194 102.800 0.231
202003 0.136 102.900 0.162
202006 0.085 102.900 0.101
202009 0.107 102.300 0.128
202012 0.208 102.600 0.249
202103 1.084 103.700 1.282
202106 0.141 104.200 0.166
202109 0.160 104.900 0.187
202112 -0.251 106.600 -0.289
202203 0.170 110.400 0.189
202206 0.137 112.500 0.149
202209 0.197 114.200 0.211
202212 0.752 119.000 0.775
202303 0.262 118.800 0.270
202306 0.149 119.700 0.153
202309 0.209 120.300 0.213
202312 0.304 119.700 0.311
202403 0.211 120.200 0.215
202406 0.654 120.700 0.664
202409 0.150 121.200 0.152
202412 0.157 121.200 0.159
202503 0.188 122.500 0.188
202506 0.186 122.700 0.186
202509 0.197 123.100 0.196
202512 -0.374 122.600 -0.374
202603 0.262 122.600 0.262

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 €0.82 mean?
BFF Bank SpA (FRA:2BF) has a E10 of €0.82 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on BFF Bank SpA and its competitors.
Is BFF Bank SpA's E10 too high?
BFF Bank SpA's current E10 is €0.82. Overall, BFF Bank SpA has a GF Score™ of 51/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does BFF Bank SpA's E10 compare to V and MA?
BFF Bank SpA's E10 of €0.82 can be compared against companies in the Credit Services 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 Credit Services company?
A good E10 depends on the Credit Services 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 BFF Bank SpA and its competitors. BFF Bank SpA's current E10 is €0.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BFF Bank SpA stock overvalued right now?
Based on GuruFocus' analysis, BFF Bank SpA (FRA:2BF) is currently considered Possible Value Trap. The stock's GF Value™ is €8.29, compared to a current price of €3.07 — trading 62.9% below its estimated fair value. The current E10 is €0.82. BFF Bank SpA's overall GF Score™ is 51/100 with 4 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 BFF Bank SpA (FRA:2BF), the current E10 is €0.82 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 BFF Bank SpA (FRA:2BF) Overvalued in 2026?

Based on GuruFocus' analysis, BFF Bank SpA stock appears to be undervalued. The current stock price of €3.07 is trading 62.9% below its estimated GF Value™ of €8.29. GuruFocus considers BFF Bank SpA to be Possible Value Trap.

Key valuation signals for FRA:2BF:

  • E10: €0.82
  • GF Value™: €8.29 vs. price of €3.07 (62.9% below fair value)
  • GF Score™: 51/100 with 4 warning signs

No single metric tells the full story. See the FRA:2BF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


BFF Bank SpA Business Description

Address Viale Lodovico Scarampo, 15, Milan, ITA, 20148
BFF Bank SpA is an independent specialty finance company engaged in three business units; Factoring & Lending BU, which offers products such as non-recourse factoring, lending, and credit management mainly to public sector suppliers and public administration bodies, Securities Services BU, which deals with custodian banking for investment funds and related services such as fund accounting, and transfer agents for national managers and banks and for various investment funds such as pension funds, mutual funds and alternative funds, and Payments BU, which deals with payment processing, corporate payments, and cheques and bills and has as customers medium-small Italian banks, medium-large companies and boasts a partnership with Nexi.
51GF Score

Get the complete analysis for FRA:2BF

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

€3.07
Price
€8.29
GF Value