Tokio Marine Holdings (HAM:MH6) E10: €1.38 (As of Dec. 2025)


HAM:MH6 Tokio Marine Holdings Inc HAM:MH6
71 GF Score
Price €36.71
GF Value €31.80
Valuation Modestly Overvalued
! 4 Warning Signs
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What is Tokio Marine Holdings E10?

Tokio Marine Holdings HAM:MH6 -0.81% 71 E10 is €1.38 as of Dec. 2025. GuruFocus rates HAM:MH6 with a GF Score™ of 71/100 and a GF Value™ of €31.80 (Modestly Overvalued). The stock has 4 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.

Tokio Marine Holdings's adjusted earnings per share data for the three months ended in Dec. 2025 was €0.613. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is €1.38 for the trailing ten years ended in Dec. 2025.

During the past 12 months, Tokio Marine Holdings's average E10 Growth Rate was -100.00% 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 Tokio Marine Holdings was 22.00% per year. The lowest was 8.40% per year. And the median was 12.60% per year.

As of today (2026-06-27), Tokio Marine Holdings's current stock price is €36.705. Tokio Marine Holdings's E10 for the quarter that ended in Dec. 2025 was €1.38. Tokio Marine Holdings's Shiller PE Ratio of today is 26.60.

During the past 13 years, the highest Shiller PE Ratio of Tokio Marine Holdings was 36.86. The lowest was 15.95. And the median was 22.58.


Tokio Marine Holdings  (HAM:MH6) 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.

Tokio Marine Holdings's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=36.705/1.38
=26.60

* 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 Tokio Marine Holdings was 36.86. The lowest was 15.95. And the median was 22.58.


Be Aware

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


Tokio Marine Holdings E10 Related Terms


Tokio Marine Holdings E10 Historical Data

* Premium members only.

The historical data trend for Tokio Marine Holdings'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.

Tokio Marine Holdings E10 Chart

Tokio Marine Holdings 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 0.00 0.00 0.00 0.00

Tokio Marine Holdings 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 1.38 0.00

HAM:MH6 vs CB, PGR, TRV: E10 Comparison

For the Insurance - Property & Casualty subindustry, Tokio Marine Holdings'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.


Tokio Marine Holdings Shiller PE Ratio vs Insurance Industry

For the Insurance industry and Financial Services sector, Tokio Marine Holdings's Shiller PE Ratio distribution charts can be found below:

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


HAM:MH6
71GF Score
Tokio Marine Holdings Inc HAM:MH6
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tokio Marine Holdings 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, Tokio Marine Holdings's adjusted earnings per share data for the three months ended in Dec. 2025 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=0.613/113.0000*113.0000
=0.613

Current CPI (Dec. 2025) = 113.0000.

Tokio Marine Holdings Quarterly Data

per share eps CPI Adj_EPS
201603 0.258 97.900 0.298
201606 0.362 98.100 0.417
201609 0.224 98.000 0.258
201612 0.263 98.400 0.302
201703 0.169 98.100 0.195
201706 0.314 98.500 0.360
201709 -0.037 98.800 -0.042
201712 0.276 99.400 0.314
201803 0.431 99.200 0.491
201806 0.364 99.200 0.415
201809 -0.167 99.900 -0.189
201812 0.609 99.700 0.690
201903 0.199 99.700 0.226
201906 0.435 99.800 0.493
201909 0.017 100.100 0.019
201912 0.430 100.500 0.483
202003 0.133 100.300 0.150
202006 0.391 99.900 0.442
202009 -0.141 99.900 -0.159
202012 0.191 99.300 0.217
202103 0.182 99.900 0.206
202106 0.578 99.500 0.656
202109 0.410 100.100 0.463
202112 0.398 100.100 0.449
202203 0.177 101.100 0.198
202206 0.452 101.800 0.502
202209 -0.110 103.100 -0.121
202212 0.656 104.100 0.712
202303 0.309 104.400 0.334
202306 0.420 105.200 0.451
202309 0.247 106.200 0.263
202312 1.006 106.800 1.064
202403 0.555 107.200 0.585
202406 0.592 108.200 0.618
202409 1.581 108.900 1.641
202412 0.665 110.700 0.679
202503 0.519 111.100 0.528
202506 1.461 111.700 1.478
202509 0.666 112.000 0.672
202512 0.613 113.000 0.613

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 €1.38 mean?
Tokio Marine Holdings (HAM:MH6) has a E10 of €1.38 as of Dec. 2025. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Tokio Marine Holdings and its competitors.
Is Tokio Marine Holdings' E10 too high?
Tokio Marine Holdings' current E10 is €1.38. Overall, Tokio Marine Holdings has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tokio Marine Holdings' E10 compare to CB and PGR?
Tokio Marine Holdings' E10 of €1.38 can be compared against companies in the Insurance 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 Insurance company?
A good E10 depends on the Insurance 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 Tokio Marine Holdings and its competitors. Tokio Marine Holdings's current E10 is €1.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tokio Marine Holdings stock overvalued right now?
Based on GuruFocus' analysis, Tokio Marine Holdings (HAM:MH6) is currently considered Modestly Overvalued. The stock's GF Value™ is €31.80, compared to a current price of €36.71 — trading 15.4% above its estimated fair value. The current E10 is €1.38. Tokio Marine Holdings' overall GF Score™ is 71/100 with 4 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 Tokio Marine Holdings (HAM:MH6), the current E10 is €1.38 as of Dec. 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 Tokio Marine Holdings (HAM:MH6) Overvalued in 2026?

Based on GuruFocus' analysis, Tokio Marine Holdings stock appears to be overvalued. The current stock price of €36.71 is trading 15.4% above its estimated GF Value™ of €31.80. GuruFocus considers Tokio Marine Holdings to be Modestly Overvalued.

Key valuation signals for HAM:MH6:

  • E10: €1.38
  • GF Value™: €31.80 vs. price of €36.71 (15.4% above fair value)
  • GF Score™: 71/100 with 4 warning signs

No single metric tells the full story. See the HAM:MH6 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tokio Marine Holdings Business Description

Address 2-6-4 Otemachi, Chiyoda-ku, Tokyo, JPN, 100-0004
Dating back to 1879, Tokio Marine is the oldest insurance company in Japan and operated as its top property and casualty insurer for decades. Following industry consolidation, it now shares domestic dominance with MS and AD and Sompo. However, Tokio Marine remains by far the most valuable listed Japanese insurer by market capitalization. This premium valuation is driven by an aggressive unwinding of domestic cross-shareholdings and a highly profitable overseas portfolio. The majority of its international business is based in the United States, where it has acquired premium specialty insurers since 2008, including Philadelphia Consolidated, Delphi Financial, Tokio Marine HCC, and Privilege Underwriters Reciprocal Exchange, recently fortified by a capital alliance with Berkshire Hathaway.
71GF Score

Get the complete analysis for HAM:MH6

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

€36.71
Price
€31.80
GF Value