Toho Holdings Co (FRA:TON) E10: €1.19 (As of Mar. 2026)


FRA:TON Toho Holdings Co Ltd FRA:TON
26 GF Score
Price €21.40
GF Value €26.10
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Toho Holdings Co E10?

Toho Holdings Co FRA:TON 26 E10 is €1.19 as of Mar. 2026. GuruFocus rates FRA:TON with a GF Score™ of 26/100 and a GF Value™ of €26.10 (Modestly Undervalued). The stock has 3 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.

Toho Holdings Co's adjusted earnings per share data for the three months ended in Mar. 2026 was €0.242. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is €1.19 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Toho Holdings Co's average E10 Growth Rate was -1.70% per year. During the past 3 years, the average E10 Growth Rate was 5.10% per year. During the past 5 years, the average E10 Growth Rate was 5.10% 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 Toho Holdings Co was 7.00% per year. The lowest was 1.10% per year. And the median was 5.15% per year.

As of today (2026-07-09), Toho Holdings Co's current stock price is €21.40. Toho Holdings Co's E10 for the quarter that ended in Mar. 2026 was €1.19. Toho Holdings Co's Shiller PE Ratio of today is 17.98.

During the past 13 years, the highest Shiller PE Ratio of Toho Holdings Co was 25.03. The lowest was 9.58. And the median was 14.96.


Toho Holdings Co  (FRA:TON) 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.

Toho Holdings Co's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=21.40/1.19
=17.98

* 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 Toho Holdings Co was 25.03. The lowest was 9.58. And the median was 14.96.


Be Aware

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


Toho Holdings Co E10 Related Terms


Toho Holdings Co E10 Historical Data

* Premium members only.

The historical data trend for Toho Holdings Co'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.

Toho Holdings Co E10 Chart

Toho Holdings Co Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.30 1.27 1.22 1.37 1.19

Toho Holdings Co 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 1.37 1.34 1.30 1.25 1.19

FRA:TON vs MCK, CAH, COR: E10 Comparison

For the Medical Distribution subindustry, Toho Holdings Co'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.


Toho Holdings Co Shiller PE Ratio vs Medical Distribution Industry

For the Medical Distribution industry and Healthcare sector, Toho Holdings Co's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Toho Holdings Co's Shiller PE Ratio falls into.


FRA:TON
26GF Score
Toho Holdings Co Ltd FRA:TON
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
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Toho Holdings Co 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, Toho Holdings Co'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)
=0.242/112.7000*112.7000
=0.242

Current CPI (Mar. 2026) = 112.7000.

Toho Holdings Co Quarterly Data

per share eps CPI Adj_EPS
201606 0.392 98.100 0.450
201609 0.393 98.000 0.452
201612 0.351 98.400 0.402
201703 0.447 98.100 0.514
201706 0.244 98.500 0.279
201709 0.284 98.800 0.324
201712 0.474 99.400 0.537
201803 0.453 99.200 0.515
201806 0.236 99.200 0.268
201809 0.255 99.900 0.288
201812 0.452 99.700 0.511
201903 0.449 99.700 0.508
201906 0.359 99.800 0.405
201909 0.401 100.100 0.451
201912 0.503 100.500 0.564
202003 0.474 100.300 0.533
202006 0.244 99.900 0.275
202009 -0.051 99.900 -0.058
202012 0.222 99.300 0.252
202103 0.102 99.900 0.115
202106 0.170 99.500 0.193
202109 0.155 100.100 0.175
202112 0.369 100.100 0.415
202203 0.646 101.100 0.720
202206 0.190 101.800 0.210
202209 0.141 103.100 0.154
202212 0.547 104.100 0.592
202303 0.388 104.400 0.419
202306 0.138 105.200 0.148
202309 0.634 106.200 0.673
202312 0.414 106.800 0.437
202403 0.618 107.200 0.650
202406 0.150 108.200 0.156
202409 0.316 108.900 0.327
202412 0.433 110.700 0.441
202503 0.862 111.100 0.874
202506 0.299 111.700 0.302
202509 0.247 112.000 0.249
202512 0.678 113.000 0.676
202603 0.242 112.700 0.242

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 €1.19 mean?
Toho Holdings Co (FRA:TON) has a E10 of €1.19 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Toho Holdings Co and its competitors.
Is Toho Holdings Co's E10 too high?
Toho Holdings Co's current E10 is €1.19. Overall, Toho Holdings Co has a GF Score™ of 26/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Toho Holdings Co's E10 compare to MCK and CAH?
Toho Holdings Co's E10 of €1.19 can be compared against companies in the Medical Distribution 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 Medical Distribution company?
A good E10 depends on the Medical Distribution 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 Toho Holdings Co and its competitors. Toho Holdings Co's current E10 is €1.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toho Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Toho Holdings Co (FRA:TON) is currently considered Modestly Undervalued. The stock's GF Value™ is €26.10, compared to a current price of €21.40 — trading 18% below its estimated fair value. The current E10 is €1.19. Toho Holdings Co's overall GF Score™ is 26/100 with 3 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 Toho Holdings Co (FRA:TON), the current E10 is €1.19 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 Toho Holdings Co (FRA:TON) Overvalued in 2026?

Based on GuruFocus' analysis, Toho Holdings Co stock appears to be undervalued. The current stock price of €21.40 is trading 18% below its estimated GF Value™ of €26.10. GuruFocus considers Toho Holdings Co to be Modestly Undervalued.

Key valuation signals for FRA:TON:

  • E10: €1.19
  • GF Value™: €26.10 vs. price of €21.40 (18% below fair value)
  • GF Score™: 26/100 with 3 warning signs

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


Toho Holdings Co Business Description

Other Exchanges 8129:Japan
Address 4-43-11 Daizawa, Setagaya-ku, Tokyo, JPN, 155-8655
Toho Holdings Co Ltd is a specialty and generic drug manufacturing company. The company's business includes pharmaceutical wholesaling and pharmacy dispensing. It also maintains a site-management organization business that assists a variety of medical establishments, ranging from large medical institutions to private clinics, with a wide range of clinical trials under contract. The company supports medical institutions suitable for respective trials to improve the quality and speed of clinical trials. It generates additional revenue through software sales to medical institutions.
26GF Score

Get the complete analysis for FRA:TON

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

€21.40
Price
€26.10
GF Value