Adecco Group AG (HAM:ADIA) E10: €1.59 (As of Mar. 2026)


HAM:ADIA Adecco Group AG HAM:ADIA
52 GF Score
Price €8.15
GF Value €12.97
Valuation Significantly Undervalued
! 3 Warning Signs
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What is Adecco Group AG E10?

Adecco Group AG HAM:ADIA +7.95% 52 E10 is €1.59 as of Mar. 2026. GuruFocus rates HAM:ADIA with a GF Score™ of 52/100 and a GF Value™ of €12.97 (Significantly 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.

Adecco Group AG's adjusted earnings per share data for the three months ended in Mar. 2026 was €0.205. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is €1.59 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Adecco Group AG's average E10 Growth Rate was 6.20% per year. During the past 3 years, the average E10 Growth Rate was -2.70% per year. During the past 5 years, the average E10 Growth Rate was -1.70% per year. During the past 10 years, the average E10 Growth Rate was -0.60% 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 Adecco Group AG was 108.70% per year. The lowest was -5.30% per year. And the median was 2.60% per year.

As of today (2026-06-25), Adecco Group AG's current stock price is €8.15. Adecco Group AG's E10 for the quarter that ended in Mar. 2026 was €1.59. Adecco Group AG's Shiller PE Ratio of today is 5.13.

During the past 13 years, the highest Shiller PE Ratio of Adecco Group AG was 26.37. The lowest was 5.10. And the median was 14.71.


Adecco Group AG  (HAM:ADIA) 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.

Adecco Group AG's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=8.15/1.59
=5.13

* 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 Adecco Group AG was 26.37. The lowest was 5.10. And the median was 14.71.


Be Aware

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


Adecco Group AG E10 Related Terms


Adecco Group AG E10 Historical Data

* Premium members only.

The historical data trend for Adecco Group AG'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.

Adecco Group AG E10 Chart

Adecco Group AG 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 0.00 0.00 0.00 0.00 0.00

Adecco Group AG 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 0.00 0.00 0.00 0.00 1.59

HAM:ADIA vs KFY, RHI, TNET: E10 Comparison

For the Staffing & Employment Services subindustry, Adecco Group AG'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.


Adecco Group AG Shiller PE Ratio vs Business Services Industry

For the Business Services industry and Industrials sector, Adecco Group AG's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Adecco Group AG's Shiller PE Ratio falls into.


HAM:ADIA
52GF Score
Adecco Group AG HAM:ADIA
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Adecco Group AG 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, Adecco Group AG'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)
=0.205/107.1957*107.1957
=0.205

Current CPI (Mar. 2026) = 107.1957.

Adecco Group AG Quarterly Data

per share eps CPI Adj_EPS
201606 0.555 100.088 0.594
201609 0.510 99.604 0.549
201612 0.630 99.380 0.680
201703 0.515 100.040 0.552
201706 0.565 100.285 0.604
201709 0.365 100.254 0.390
201712 0.885 100.213 0.947
201803 0.390 100.836 0.415
201806 0.510 101.435 0.539
201809 0.815 101.246 0.863
201812 -0.335 100.906 -0.356
201903 0.410 101.571 0.433
201906 0.490 102.044 0.515
201909 0.550 101.396 0.581
201912 0.785 101.063 0.833
202003 -1.075 101.048 -1.140
202006 0.065 100.743 0.069
202009 0.245 100.585 0.261
202012 0.460 100.241 0.492
202103 0.380 100.800 0.404
202106 0.450 101.352 0.476
202109 0.410 101.533 0.433
202112 0.555 101.776 0.585
202203 0.275 103.205 0.286
202206 0.230 104.783 0.235
202209 0.325 104.835 0.332
202212 0.190 104.666 0.195
202303 0.275 106.245 0.277
202306 0.185 106.576 0.186
202309 0.310 106.570 0.312
202312 0.200 106.461 0.201
202403 0.220 107.355 0.220
202406 0.170 107.991 0.169
202409 0.295 107.468 0.294
202412 0.215 107.128 0.215
202503 0.180 107.722 0.179
202506 0.170 108.075 0.169
202509 0.260 107.709 0.259
202512 0.260 107.196 0.260
202603 0.205 107.196 0.205

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 €1.59 mean?
Adecco Group AG (HAM:ADIA) has a E10 of €1.59 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Adecco Group AG and its competitors.
Is Adecco Group AG's E10 too high?
Adecco Group AG's current E10 is €1.59. Overall, Adecco Group AG has a GF Score™ of 52/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Adecco Group AG's E10 compare to KFY and RHI?
Adecco Group AG's E10 of €1.59 can be compared against companies in the Business Services 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 Business Services company?
A good E10 depends on the Business Services 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 Adecco Group AG and its competitors. Adecco Group AG's current E10 is €1.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adecco Group AG stock overvalued right now?
Based on GuruFocus' analysis, Adecco Group AG (HAM:ADIA) is currently considered Significantly Undervalued. The stock's GF Value™ is €12.97, compared to a current price of €8.15 — trading 37.2% below its estimated fair value. The current E10 is €1.59. Adecco Group AG's overall GF Score™ is 52/100 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 Adecco Group AG (HAM:ADIA), the current E10 is €1.59 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 Adecco Group AG (HAM:ADIA) Overvalued in 2026?

Based on GuruFocus' analysis, Adecco Group AG stock appears to be undervalued. The current stock price of €8.15 is trading 37.2% below its estimated GF Value™ of €12.97. GuruFocus considers Adecco Group AG to be Significantly Undervalued.

Key valuation signals for HAM:ADIA:

  • E10: €1.59
  • GF Value™: €12.97 vs. price of €8.15 (37.2% below fair value)
  • GF Score™: 52/100 with 3 warning signs

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


Adecco Group AG Business Description

Address Bellerivestrasse 30, Zurich, CHE, CH-8008
Adecco Group provides human capital solutions. The majority of its revenue comes from flexible placement, but the company also offers permanent placement, career transition, outsourcing, and consulting services in engineering, digital, and IT. The company is organized into three business units—Adecco, Akkodis, and LHH—and operates in over 60 countries.
52GF Score

Get the complete analysis for HAM:ADIA

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

€8.15
Price
€12.97
GF Value