Marutai Co (FSE:2919) E10: 円231.91 (As of Mar. 2026)

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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.
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Charlie Tian
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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.

FSE:2919 Marutai Co Ltd FSE:2919
57 GF Score
Price 円4,295.00
GF Value 円4,111.04
Valuation Fairly Valued
! 5 Warning Signs
View Full Analysis

What is Marutai Co E10?

Marutai Co FSE:2919 57 E10 is 円231.91 as of Mar. 2026. GuruFocus rates FSE:2919 with a GF Score™ of 57/100 and a GF Value™ of 円4,111.04 (Fairly Valued). The stock has 5 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.

Marutai Co's adjusted earnings per share data for the three months ended in Mar. 2026 was 円22.800. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円231.91 for the trailing ten years ended in Mar. 2026.

During the past 3 years, the average E10 Growth Rate was 21.70% 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 Marutai Co was 21.70% per year. The lowest was 21.70% per year. And the median was 21.70% per year.

As of today (2026-08-28), Marutai Co's current stock price is 円4295.00. Marutai Co's E10 for the quarter that ended in Mar. 2026 was 円231.91. Marutai Co's Shiller PE Ratio of today is 18.52.

During the past 13 years, the highest Shiller PE Ratio of Marutai Co was 27.47. The lowest was 17.04. And the median was 19.92.


Marutai Co  (FSE:2919) 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.

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

Shiller PE Ratio=Share Price/E10
=4295.00/231.91
=18.52

* 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 Marutai Co was 27.47. The lowest was 17.04. And the median was 19.92.


Be Aware

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


Marutai Co E10 Related Terms


Marutai Co E10 Historical Data

* Premium members only.

The historical data trend for Marutai 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.

Marutai Co E10 Chart

Marutai 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 0.00 128.66 181.07 0.00 231.91

Marutai Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 224.79 228.80 238.24 231.91 0.00

FSE:2919 vs KHC, GIS: E10 Comparison

For the Packaged Foods subindustry, Marutai 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.


Marutai Co Shiller PE Ratio vs Consumer Packaged Goods Industry

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

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


FSE:2919
57GF Score
Marutai Co Ltd FSE:2919
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Marutai 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, Marutai 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)
=22.8/112.7000*112.7000
=22.800

Current CPI (Mar. 2026) = 112.7000.

Marutai Co Quarterly Data

per share eps CPI Adj_EPS
201603 42.800 97.900 49.270
201606 84.150 98.100 96.674
201609 22.003 98.000 25.303
201612 64.850 98.400 74.274
201703 42.490 98.100 48.814
201706 46.620 98.500 53.341
201709 22.890 98.800 26.110
201712 88.825 99.400 100.710
201803 35.090 99.200 39.865
201806 54.110 99.200 61.474
201809 40.530 99.900 45.723
201812 62.814 99.700 71.004
201903 18.880 99.700 21.342
201906 24.670 99.800 27.859
201909 39.620 100.100 44.607
201912 96.869 100.500 108.628
202003 53.410 100.300 60.013
202006 142.500 99.900 160.758
202009 28.240 99.900 31.858
202012 120.865 99.300 137.175
202103 42.870 99.900 48.363
202106 94.310 99.500 106.821
202109 74.166 100.100 83.502
202112 111.428 100.100 125.454
202203 -22.480 101.100 -25.059
202206 51.690 101.800 57.225
202209 35.190 103.100 38.467
202212 59.070 104.100 63.950
202303 -26.350 104.400 -28.445
202306 17.590 105.200 18.844
202309 36.370 106.200 38.596
202312 83.682 106.800 88.305
202403 9.990 107.200 10.503
202406 65.100 108.200 67.807
202409 57.350 108.900 59.351
202503 0.000 111.100 0.000
202506 43.080 111.700 43.466
202509 45.630 112.000 45.915
202512 110.770 113.000 110.476
202603 22.800 112.700 22.800

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 円231.91 mean?
Marutai Co (FSE:2919) has a E10 of 円231.91 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Marutai Co and its competitors.
Is Marutai Co's E10 too high?
Marutai Co's current E10 is 円231.91. Overall, Marutai Co has a GF Score™ of 57/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Marutai Co's E10 compare to KHC and GIS?
Marutai Co's E10 of 円231.91 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 Marutai Co and its competitors. Marutai Co's current E10 is 円231.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Marutai Co stock overvalued right now?
Based on GuruFocus' analysis, Marutai Co (FSE:2919) is currently considered Fairly Valued. The stock's GF Value™ is 円4,111.04, compared to a current price of 円4,295.00 — trading 4.5% above its estimated fair value. The current E10 is 円231.91. Marutai Co's overall GF Score™ is 57/100 with 5 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 Marutai Co (FSE:2919), the current E10 is 円231.91 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 Marutai Co (FSE:2919) Overvalued in 2026?

Based on GuruFocus' analysis, Marutai Co stock appears to be overvalued. The current stock price of 円4,295.00 is trading 4.5% above its estimated GF Value™ of 円4,111.04. GuruFocus considers Marutai Co to be Fairly Valued.

Key valuation signals for FSE:2919:

  • E10: 円231.91
  • GF Value™: 円4,111.04 vs. price of 円4,295.00 (4.5% above fair value)
  • GF Score™: 57/100 with 5 warning signs

No single metric tells the full story. See the FSE:2919 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Marutai Co Business Description

Address Aomi 1042-1, Fukuoka Prefecture, Nishi-ku, Fukuoka, JPN, 819-0392
Marutai Co Ltd is a Japanese firm engaged in the production of seasonings and confectionery. It manufactures and sells noodles. Its products include ramen bars, non-fried noodles, noodle bars, stick noodles, deep-fried yakisoba, tilde, cupcake, noodle dishes, and cups.
57GF Score

Get the complete analysis for FSE:2919

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

円4,295.00
Price
円4,111.04
GF Value