Potbelly (FRA:PTB) E10: €-0.37 (As of Jun. 2025)


FRA:PTB Potbelly Corp FRA:PTB
9 GF Score
Price €14.60
GF Value €7.16
! 8 Warning Signs
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What is Potbelly E10?

Potbelly FRA:PTB 9 E10 is €-0.37 as of Jun. 2025. GuruFocus rates FRA:PTB with a GF Score™ of 9/100 and a GF Value™ of €7.16. The stock has 8 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.

Potbelly's adjusted earnings per share data for the three months ended in Jun. 2025 was €0.069. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is €-0.37 for the trailing ten years ended in Jun. 2025.

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 (2026-06-28), Potbelly's current stock price is €14.60. Potbelly's E10 for the quarter that ended in Jun. 2025 was €-0.37. Potbelly's Shiller PE Ratio of today is .


Potbelly  (FRA:PTB) 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.


Be Aware

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


Potbelly E10 Related Terms


Potbelly E10 Historical Data

* Premium members only.

The historical data trend for Potbelly'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.

Potbelly E10 Chart

Potbelly Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 -0.95 -0.46 -0.37

Potbelly Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25
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 -0.39 -0.37 -0.37 0.00 -0.37

FRA:PTB vs BRCB, NATH, VENU: E10 Comparison

For the Restaurants subindustry, Potbelly'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.


Potbelly Shiller PE Ratio vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Potbelly's Shiller PE Ratio distribution charts can be found below:

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


FRA:PTB
9GF Score
Potbelly Corp FRA:PTB
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Potbelly 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, Potbelly's adjusted earnings per share data for the three months ended in Jun. 2025 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2025 (Change)*Current CPI (Jun. 2025)
=0.069/322.5610*322.5610
=0.069

Current CPI (Jun. 2025) = 322.5610.

Potbelly Quarterly Data

per share eps CPI Adj_EPS
201509 0.045 237.945 0.061
201512 0.046 236.525 0.063
201603 0.036 238.132 0.049
201606 0.116 241.018 0.155
201609 0.062 241.428 0.083
201612 0.076 241.432 0.102
201703 0.028 243.801 0.037
201706 -0.009 244.955 -0.012
201709 -0.008 246.819 -0.010
201712 -0.245 246.524 -0.321
201803 -0.073 249.554 -0.094
201806 -0.009 251.989 -0.012
201809 -0.069 252.439 -0.088
201812 -0.149 251.233 -0.191
201903 -0.673 254.202 -0.854
201906 -0.071 256.143 -0.089
201909 -0.091 256.759 -0.114
201912 -0.054 256.974 -0.068
202003 -0.507 258.115 -0.634
202006 -0.826 257.797 -1.034
202009 -0.475 260.280 -0.589
202012 -0.559 260.474 -0.692
202103 -0.470 264.877 -0.572
202106 -0.116 271.696 -0.138
202109 -0.085 274.310 -0.100
202112 -0.080 278.802 -0.093
202203 -0.254 287.504 -0.285
202206 0.019 296.311 0.021
202209 0.313 296.808 0.340
202212 0.085 296.797 0.092
202303 -0.047 301.836 -0.050
202306 0.065 305.109 0.069
202309 0.047 307.789 0.049
202312 0.083 306.746 0.087
202403 -0.083 312.332 -0.086
202406 1.050 314.175 1.078
202409 0.108 315.301 0.110
202412 0.143 315.605 0.146
202503 0.000 319.799 0.000
202506 0.069 322.561 0.069

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 €-0.37 mean?
Potbelly (FRA:PTB) has a E10 of €-0.37 as of Jun. 2025. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Potbelly and its competitors.
Is Potbelly's E10 too high?
Potbelly's current E10 is €-0.37. Overall, Potbelly has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Potbelly's E10 compare to BRCB and NATH?
Potbelly's E10 of €-0.37 can be compared against companies in the Restaurants 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 Restaurants company?
A good E10 depends on the Restaurants 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 Potbelly and its competitors. Potbelly's current E10 is €-0.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Potbelly stock overvalued right now?
Potbelly (FRA:PTB) has a current E10 of €-0.37. The stock's GF Value™ is €7.16, compared to a current price of €14.60 — trading 103.9% above its estimated fair value. The current E10 is €-0.37. Potbelly's overall GF Score™ is 9/100 with 8 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 Potbelly (FRA:PTB), the current E10 is €-0.37 as of Jun. 2025. 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 Potbelly (FRA:PTB) Overvalued in 2026?

Based on GuruFocus' analysis, Potbelly stock appears to be overvalued. The current stock price of €14.60 is trading 103.9% above its estimated GF Value™ of €7.16.

Key valuation signals for FRA:PTB:

  • E10: €-0.37
  • GF Value™: €7.16 vs. price of €14.60 (103.9% above fair value)
  • GF Score™: 9/100 with 8 warning signs

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


Potbelly Business Description

Address 111 North Canal Street, Suite 325, Chicago, IL, USA, 60606
Potbelly Corp owns and franchises hundreds of limited-service restaurants specializing in sandwiches and salads, shakes. The menu includes toasty sandwiches, signature salads, soups, chili, sides, desserts, and, in breakfast locations it serves breakfast sandwiches and steel-cut oatmeal. majority of its locations are company-owned and located in the United States, with Illinois and Texas housing far more locations than any other state. The company has franchise partners in a number of countries. Excluding the United States, its franchises are in the Middle East.
9GF Score

Get the complete analysis for FRA:PTB

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

€14.60
Price
€7.16
GF Value