Keyera (FRA:K2Y) E10: €1.07 (As of Mar. 2026)


FRA:K2Y Keyera Corp FRA:K2Y
78 GF Score
Price €35.40
GF Value €24.60
Valuation Significantly Overvalued
! 11 Warning Signs
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What is Keyera E10?

Keyera FRA:K2Y +1.72% 78 E10 is €1.07 as of Mar. 2026. GuruFocus rates FRA:K2Y with a GF Score™ of 78/100 and a GF Value™ of €24.60 (Significantly Overvalued). The stock has 11 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.

Keyera's adjusted earnings per share data for the three months ended in Mar. 2026 was €-0.334. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is €1.07 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Keyera's average E10 Growth Rate was -2.30% per year. During the past 3 years, the average E10 Growth Rate was 5.30% per year. During the past 5 years, the average E10 Growth Rate was 6.60% per year. During the past 10 years, the average E10 Growth Rate was 5.80% 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.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Keyera was 10.20% per year. The lowest was 2.40% per year. And the median was 7.50% per year.

As of today (2026-06-29), Keyera's current stock price is €35.40. Keyera's E10 for the quarter that ended in Mar. 2026 was €1.07. Keyera's Shiller PE Ratio of today is 33.08.

During the past 13 years, the highest Shiller PE Ratio of Keyera was 39.64. The lowest was 8.71. And the median was 23.68.


Keyera  (FRA:K2Y) 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.

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

Shiller PE Ratio=Share Price/E10
=35.40/1.07
=33.08

* 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 Keyera was 39.64. The lowest was 8.71. And the median was 23.68.


Be Aware

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


Keyera E10 Related Terms


Keyera E10 Historical Data

* Premium members only.

The historical data trend for Keyera'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.

Keyera E10 Chart

Keyera 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 0.97 1.05 1.11 1.11 1.11

Keyera 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 1.10 1.10 1.07 1.11 1.07

FRA:K2Y vs WMB, EPD, KMI: E10 Comparison

For the Oil & Gas Midstream subindustry, Keyera'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.


Keyera Shiller PE Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Keyera's Shiller PE Ratio distribution charts can be found below:

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


FRA:K2Y
78GF Score
Keyera Corp FRA:K2Y
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Keyera 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, Keyera'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)
=-0.334/132.2623*132.2623
=-0.334

Current CPI (Mar. 2026) = 132.2623.

Keyera Quarterly Data

per share eps CPI Adj_EPS
201606 0.235 102.002 0.305
201609 0.190 101.765 0.247
201612 0.135 101.449 0.176
201703 0.363 102.634 0.468
201706 0.241 103.029 0.309
201709 0.137 103.345 0.175
201712 0.298 103.345 0.381
201803 0.270 105.004 0.340
201806 0.339 105.557 0.425
201809 0.112 105.636 0.140
201812 0.543 105.399 0.681
201903 0.113 106.979 0.140
201906 0.699 107.690 0.858
201909 0.494 107.611 0.607
201912 0.089 107.769 0.109
202003 0.253 107.927 0.310
202006 0.052 108.401 0.063
202009 0.096 108.164 0.117
202012 -0.218 108.559 -0.266
202103 0.261 110.298 0.313
202106 0.245 111.720 0.290
202109 0.215 112.905 0.252
202112 0.283 113.774 0.329
202203 0.366 117.646 0.411
202206 0.576 120.806 0.631
202209 0.424 120.648 0.465
202212 -0.264 120.964 -0.289
202303 0.410 122.702 0.442
202306 0.479 124.203 0.510
202309 0.235 125.230 0.248
202312 0.144 125.072 0.152
202403 0.211 126.258 0.221
202406 0.420 127.522 0.436
202409 0.539 127.285 0.560
202412 0.261 127.364 0.271
202503 0.367 129.181 0.376
202506 0.349 129.892 0.355
202509 0.228 130.287 0.231
202512 0.241 130.366 0.245
202603 -0.334 132.262 -0.334

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 €1.07 mean?
Keyera (FRA:K2Y) has a E10 of €1.07 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Keyera and its competitors.
Is Keyera's E10 too high?
Keyera's current E10 is €1.07. Overall, Keyera has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Keyera's E10 compare to WMB and EPD?
Keyera's E10 of €1.07 can be compared against companies in the Oil & Gas 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 an Oil & Gas company?
A good E10 depends on the Oil & Gas 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 Keyera and its competitors. Keyera's current E10 is €1.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Keyera stock overvalued right now?
Based on GuruFocus' analysis, Keyera (FRA:K2Y) is currently considered Significantly Overvalued. The stock's GF Value™ is €24.60, compared to a current price of €35.40 — trading 43.9% above its estimated fair value. The current E10 is €1.07. Keyera's overall GF Score™ is 78/100 with 11 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 Keyera (FRA:K2Y), the current E10 is €1.07 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 Keyera (FRA:K2Y) Overvalued in 2026?

Based on GuruFocus' analysis, Keyera stock appears to be overvalued. The current stock price of €35.40 is trading 43.9% above its estimated GF Value™ of €24.60. GuruFocus considers Keyera to be Significantly Overvalued.

Key valuation signals for FRA:K2Y:

  • E10: €1.07
  • GF Value™: €24.60 vs. price of €35.40 (43.9% above fair value)
  • GF Score™: 78/100 with 11 warning signs

No single metric tells the full story. See the FRA:K2Y stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Keyera Business Description

Industry EnergyOil & Gas
Other Exchanges KEYUF:USAKEY:Canada
Address 144 - 4th Avenue SW, Suite 200, The Ampersand, West Tower, Calgary, AB, CAN, T2P 3N4
Keyera Corp is a midstream energy business that operates out of Alberta. Its primary lines of business consist of the gathering and processing of natural gas in western Canada, the storage, transportation, and liquids blending for natural gas liquids and crude oil, and the marketing of natural gas liquids, iso-octane, and crude oil. The company operates in three reportable segments namely Gathering and Processing, Liquids Infrastructure and Marketing where Liquids Infrastructure is the key revenue segment.
78GF Score

Get the complete analysis for FRA:K2Y

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

€35.40
Price
€24.60
GF Value