Ulker Biskuvinayi AS (FRA:A7G) E10: €2.02 (As of Jun. 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.

FRA:A7G Ulker Biskuvi Sanayi AS FRA:A7G
71 GF Score
Price €15.50
GF Value €21.73
Valuation Modestly Undervalued
! 7 Warning Signs
View Full Analysis

What is Ulker Biskuvinayi AS E10?

Ulker Biskuvinayi AS FRA:A7G 71 E10 is €2.02 as of Jun. 2026. GuruFocus rates FRA:A7G with a GF Score™ of 71/100 and a GF Value™ of €21.73 (Modestly Undervalued). 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.

Ulker Biskuvinayi AS's adjusted earnings per share data for the three months ended in Jun. 2026 was €0.706. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is €2.02 for the trailing ten years ended in Jun. 2026.

During the past 12 months, Ulker Biskuvinayi AS's average E10 Growth Rate was 16.80% per year. During the past 3 years, the average E10 Growth Rate was 75.40% per year. During the past 5 years, the average E10 Growth Rate was 50.90% 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 Ulker Biskuvinayi AS was 75.40% per year. The lowest was 5.90% per year. And the median was 39.40% per year.

As of today (2026-08-25), Ulker Biskuvinayi AS's current stock price is €15.50. Ulker Biskuvinayi AS's E10 for the quarter that ended in Jun. 2026 was €2.02. Ulker Biskuvinayi AS's Shiller PE Ratio of today is 7.67.

During the past 13 years, the highest Shiller PE Ratio of Ulker Biskuvinayi AS was 51.67. The lowest was 9.39. And the median was 15.98.


Ulker Biskuvinayi AS  (FRA:A7G) 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.

Ulker Biskuvinayi AS's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=15.50/2.02
=7.67

* 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 Ulker Biskuvinayi AS was 51.67. The lowest was 9.39. And the median was 15.98.


Be Aware

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


Ulker Biskuvinayi AS E10 Related Terms


Ulker Biskuvinayi AS E10 Historical Data

* Premium members only.

The historical data trend for Ulker Biskuvinayi AS'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.

Ulker Biskuvinayi AS E10 Chart

Ulker Biskuvinayi AS 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 1.57 1.40

Ulker Biskuvinayi AS 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 1.83 1.46 1.40 1.62 2.02

FRA:A7G vs MDLZ, HSY, TR: E10 Comparison

For the Confectioners subindustry, Ulker Biskuvinayi AS'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.


Ulker Biskuvinayi AS Shiller PE Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Ulker Biskuvinayi AS's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Ulker Biskuvinayi AS's Shiller PE Ratio falls into.


FRA:A7G
71GF Score
Ulker Biskuvi Sanayi AS FRA:A7G
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ulker Biskuvinayi AS 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, Ulker Biskuvinayi AS'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)
=0.706/333.9520*333.9520
=0.706

Current CPI (Jun. 2026) = 333.9520.

Ulker Biskuvinayi AS Quarterly Data

per share eps CPI Adj_EPS
201609 0.481 241.428 0.665
201612 0.298 241.432 0.412
201703 0.841 243.801 1.152
201706 0.657 244.955 0.896
201709 0.604 246.819 0.817
201712 0.682 246.524 0.924
201803 0.813 249.554 1.088
201806 1.181 251.989 1.565
201809 0.878 252.439 1.162
201812 0.622 251.233 0.827
201903 1.734 254.202 2.278
201906 0.547 256.143 0.713
201909 1.177 256.759 1.531
201912 1.138 256.974 1.479
202003 -0.414 258.115 -0.536
202006 1.915 257.797 2.481
202009 0.823 260.280 1.056
202012 1.246 260.474 1.597
202103 1.379 264.877 1.739
202106 0.626 271.696 0.769
202109 0.010 274.310 0.012
202112 -2.136 278.802 -2.559
202203 -0.857 287.504 -0.995
202206 -1.058 296.311 -1.192
202209 -0.325 296.808 -0.366
202212 3.183 296.797 3.581
202303 2.964 301.836 3.279
202306 2.606 305.109 2.852
202309 2.870 307.789 3.114
202312 1.614 306.746 1.757
202403 2.331 312.332 2.492
202406 1.317 314.175 1.400
202409 0.450 315.301 0.477
202412 2.824 315.605 2.988
202503 2.131 319.799 2.225
202506 0.568 322.561 0.588
202509 0.596 324.800 0.613
202512 0.152 324.054 0.157
202603 0.841 330.213 0.851
202606 0.706 333.952 0.706

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 €2.02 mean?
Ulker Biskuvinayi AS (FRA:A7G) has a E10 of €2.02 as of Jun. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Ulker Biskuvinayi AS and its competitors.
Is Ulker Biskuvinayi AS's E10 too high?
Ulker Biskuvinayi AS's current E10 is €2.02. Overall, Ulker Biskuvinayi AS has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ulker Biskuvinayi AS's E10 compare to MDLZ and HSY?
Ulker Biskuvinayi AS's E10 of €2.02 can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good E10 depends on the Consumer Packaged Goods 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 Ulker Biskuvinayi AS and its competitors. Ulker Biskuvinayi AS's current E10 is €2.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ulker Biskuvinayi AS stock overvalued right now?
Based on GuruFocus' analysis, Ulker Biskuvinayi AS (FRA:A7G) is currently considered Modestly Undervalued. The stock's GF Value™ is €21.73, compared to a current price of €15.50 — trading 28.7% below its estimated fair value. The current E10 is €2.02. Ulker Biskuvinayi AS's overall GF Score™ is 71/100 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 Ulker Biskuvinayi AS (FRA:A7G), the current E10 is €2.02 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 Ulker Biskuvinayi AS (FRA:A7G) Overvalued in 2026?

Based on GuruFocus' analysis, Ulker Biskuvinayi AS stock appears to be undervalued. The current stock price of €15.50 is trading 28.7% below its estimated GF Value™ of €21.73. GuruFocus considers Ulker Biskuvinayi AS to be Modestly Undervalued.

Key valuation signals for FRA:A7G:

  • E10: €2.02
  • GF Value™: €21.73 vs. price of €15.50 (28.7% below fair value)
  • GF Score™: 71/100 with 7 warning signs

No single metric tells the full story. See the FRA:A7G stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ulker Biskuvinayi AS Business Description

Other Exchanges UELKY:USAULKER:Turkey
Address Kysykly Mah. Ferah Cad. No:1, Buyuk Camlyca, Uskudar, Istanbul, TUR, 34692
Ulker Biskuvi Sanayi AS is engaged in manufacturing marketing, and sale of biscuits, chocolate-coated biscuits, wafers, cakes, and chocolate. The brands of the company include Ulker, Alpella, Albeni, Dido, Laviva, Cocostar, Godiva, Piko, Buklet, and others. Substantially all of the remaining revenue is from cake sales. The company earns majority of its revenue from domestic market.
71GF Score

Get the complete analysis for FRA:A7G

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

€15.50
Price
€21.73
GF Value