FSGCY (First Gen) E10: $1.47 (As of Mar. 2026)


FSGCY First Gen Corp FSGCY
56 GF Score
Price $5.35
GF Value $2.05
Valuation Significantly Overvalued
! 9 Warning Signs
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What is First Gen E10?

First Gen FSGCY 56 E10 is $1.47 as of Mar. 2026. GuruFocus rates FSGCY with a GF Score™ of 56/100 and a GF Value™ of $2.05 (Significantly Overvalued). The stock has 9 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.

First Gen's adjusted earnings per share data for the three months ended in Mar. 2026 was $0.330. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.47 for the trailing ten years ended in Mar. 2026.

During the past 12 months, First Gen's average E10 Growth Rate was 10.60% per year. During the past 3 years, the average E10 Growth Rate was 10.10% per year. During the past 5 years, the average E10 Growth Rate was 11.60% 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 First Gen was 16.30% per year. The lowest was 9.80% per year. And the median was 14.80% per year.

As of today (2026-06-24), First Gen's current stock price is $5.35. First Gen's E10 for the quarter that ended in Mar. 2026 was $1.47. First Gen's Shiller PE Ratio of today is 3.64.

During the past 13 years, the highest Shiller PE Ratio of First Gen was 13.81. The lowest was 3.51. And the median was 6.86.


First Gen  (OTCPK:FSGCY) 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.

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

Shiller PE Ratio=Share Price/E10
=5.35/1.47
=3.64

* 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 First Gen was 13.81. The lowest was 3.51. And the median was 6.86.


Be Aware

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


First Gen E10 Related Terms


First Gen E10 Historical Data

* Premium members only.

The historical data trend for First Gen'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.

First Gen E10 Chart

First Gen 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 1.26 1.12 1.31 1.61 1.04

First Gen 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 1.64 1.50 2.27 1.04 1.47

First Gen E10 Competitor Comparison

For the Utilities - Renewable subindustry, First Gen'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.


First Gen Shiller PE Ratio vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, First Gen's Shiller PE Ratio distribution charts can be found below:

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


FSGCY
56GF Score
First Gen Corp FSGCY
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

First Gen 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, First Gen'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)
=0.33/330.2130*330.2130
=0.330

Current CPI (Mar. 2026) = 330.2130.

First Gen Quarterly Data

per share eps CPI Adj_EPS
201606 0.232 241.018 0.318
201609 0.266 241.428 0.364
201612 0.098 241.432 0.134
201703 0.148 243.801 0.200
201706 0.077 244.955 0.104
201709 0.199 246.819 0.266
201712 0.113 246.524 0.151
201803 0.153 249.554 0.202
201806 0.216 251.989 0.283
201809 0.320 252.439 0.419
201812 0.310 251.233 0.407
201903 0.361 254.202 0.469
201906 0.396 256.143 0.511
201909 0.256 256.759 0.329
201912 0.311 256.974 0.400
202003 0.283 258.115 0.362
202006 0.306 257.797 0.392
202009 0.277 260.280 0.351
202012 0.339 260.474 0.430
202103 0.365 264.877 0.455
202106 0.279 271.696 0.339
202109 0.313 274.310 0.377
202112 0.210 278.802 0.249
202203 0.290 287.504 0.333
202206 0.298 296.311 0.332
202209 0.349 296.808 0.388
202212 0.312 296.797 0.347
202303 0.444 301.836 0.486
202306 0.389 305.109 0.421
202309 0.414 307.789 0.444
202312 0.297 306.746 0.320
202403 0.404 312.332 0.427
202406 0.401 314.175 0.421
202409 0.270 315.301 0.283
202412 0.271 315.605 0.284
202503 0.433 319.799 0.447
202506 0.407 322.561 0.417
202509 0.284 324.800 0.289
202512 0.844 324.054 0.860
202603 0.330 330.213 0.330

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 $1.47 mean?
First Gen (FSGCY) has a E10 of $1.47 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on First Gen and its competitors.
Is First Gen's E10 too high?
First Gen's current E10 is $1.47. Overall, First Gen has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Gen's E10 compare to competitors?
First Gen's E10 of $1.47 can be compared against companies in the Utilities - Independent Power Producers 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 Utilities - Independent Power Producers company?
A good E10 depends on the Utilities - Independent Power Producers 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 First Gen and its competitors. First Gen's current E10 is $1.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Gen stock overvalued right now?
Based on GuruFocus' analysis, First Gen (FSGCY) is currently considered Significantly Overvalued. The stock's GF Value™ is $2.05, compared to a current price of $5.35 — trading 161% above its estimated fair value. The current E10 is $1.47. First Gen's overall GF Score™ is 56/100 with 9 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 First Gen (FSGCY), the current E10 is $1.47 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 First Gen (FSGCY) Overvalued in 2026?

Based on GuruFocus' analysis, First Gen stock appears to be overvalued. The current stock price of $5.35 is trading 161% above its estimated GF Value™ of $2.05. GuruFocus considers First Gen to be Significantly Overvalued.

Key valuation signals for FSGCY:

  • E10: $1.47
  • GF Value™: $2.05 vs. price of $5.35 (161% above fair value)
  • GF Score™: 56/100 with 9 warning signs

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


First Gen Business Description

Other Exchanges FGEN:Philippines
Address Ortigas Avenue, 6th Floor, Rockwell Business Center, Tower 3, Pasig, PHL, 1604
First Gen Corp is an independent electric utility company operating in the Philippines. First Gen develops, finances, builds, bids for, and operate power generation projects. The company generates a amount of Filipino energy needs through its portfolio of natural gas, wind, solar, hydro, and geothermal power plants located in the country. Majority of the power generated by First Gen is produced through natural gas and geothermal fuel sources. It operates in six segments: FGPC, FGP, EDC and Subsidiaries, FGEN LNG, FNPC, and Prime Meridian. The company only operates in Philippines.
56GF Score

Get the complete analysis for FSGCY

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

$5.35
Price
$2.05
GF Value