Baozun (HKSE:09991) E10: HK$-0.13 (As of Jun. 2026)

Author: Vera Yuan Vera Yuan
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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
Founder & CEO of GuruFocus
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.

HKSE:09991 Baozun Inc HKSE:09991
84 GF Score
Price HK$7.52
GF Value HK$8.51
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Baozun E10?

Baozun HKSE:09991 -2.53% 84 E10 is HK$-0.13 as of Jun. 2026. GuruFocus rates HKSE:09991 with a GF Score™ of 84/100 and a GF Value™ of HK$8.51 (Modestly Undervalued). The stock has 1 warning sign 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.

Baozun's adjusted earnings per share data for the three months ended in Jun. 2026 was HK$0.116. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is HK$-0.13 for the trailing ten years ended in Jun. 2026.

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.

As of today (2026-09-01), Baozun's current stock price is HK$7.515. Baozun's E10 for the quarter that ended in Jun. 2026 was HK$-0.13. Baozun's Shiller PE Ratio of today is .

During the past 13 years, the highest Shiller PE Ratio of Baozun was 343.00. The lowest was 44.29. And the median was 78.67.


Baozun  (HKSE:09991) 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.

During the past 13 years, the highest Shiller P/E Ratio of Baozun was 343.00. The lowest was 44.29. And the median was 78.67.


Be Aware

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


Baozun E10 Related Terms


Baozun E10 Historical Data

* Premium members only.

The historical data trend for Baozun'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.

Baozun E10 Chart

Baozun 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 0.08 0.00 -0.13

Baozun Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 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 -0.03 -0.11 -0.13 -0.13 -0.13

HKSE:09991 vs ZHJD, WNW, HOUR: E10 Comparison

For the Internet Retail subindustry, Baozun'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.


Baozun Shiller PE Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Baozun's Shiller PE Ratio distribution charts can be found below:

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


HKSE:09991
84GF Score
Baozun Inc HKSE:09991
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Baozun 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, Baozun's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0.116/121.3631*121.3631
=0.116

Current CPI (Jun. 2026) = 121.3631.

Baozun Quarterly Data

per share eps CPI Adj_EPS
201609 0.140 102.565 0.166
201612 0.415 103.225 0.488
201703 0.068 103.335 0.080
201706 0.195 103.664 0.228
201709 0.143 103.994 0.167
201712 0.984 104.984 1.138
201803 0.099 105.973 0.113
201806 0.255 106.193 0.291
201809 0.194 106.852 0.220
201812 1.204 107.622 1.358
201903 0.222 108.172 0.249
201906 0.431 109.601 0.477
201909 0.242 110.260 0.266
201912 0.879 110.700 0.964
202003 0.011 110.920 0.012
202006 0.733 110.590 0.804
202009 0.410 107.512 0.463
202012 1.257 109.711 1.391
202103 0.012 111.579 0.013
202106 0.423 111.360 0.461
202109 -1.603 109.051 -1.784
202112 -0.049 112.349 -0.053
202203 -0.764 113.558 -0.817
202206 -0.492 113.448 -0.526
202209 -1.073 113.778 -1.145
202212 -1.798 114.548 -1.905
202303 -0.535 115.427 -0.563
202306 -0.120 115.647 -0.126
202309 -0.762 116.087 -0.797
202312 -0.295 117.296 -0.305
202403 -0.402 117.735 -0.414
202406 -0.183 117.296 -0.189
202409 -0.540 118.615 -0.553
202412 0.000 118.945 0.000
202503 -0.386 119.384 -0.392
202506 -0.219 119.055 -0.223
202509 -0.678 119.934 -0.686
202512 -0.243 120.704 -0.244
202603 -0.045 121.473 -0.045
202606 0.116 121.363 0.116

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 HK$-0.13 mean?
Baozun (HKSE:09991) has a E10 of HK$-0.13 as of Jun. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Baozun and its competitors.
Is Baozun's E10 too high?
Baozun's current E10 is HK$-0.13. Overall, Baozun has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Baozun's E10 compare to ZHJD and WNW?
Baozun's E10 of HK$-0.13 can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?
A good E10 depends on the Retail - Cyclical 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 Baozun and its competitors. Baozun's current E10 is HK$-0.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Baozun stock overvalued right now?
Based on GuruFocus' analysis, Baozun (HKSE:09991) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$8.51, compared to a current price of HK$7.52 — trading 11.7% below its estimated fair value. The current E10 is HK$-0.13. Baozun's overall GF Score™ is 84/100 with 1 warning sign 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 Baozun (HKSE:09991), the current E10 is HK$-0.13 as of Jun. 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 Baozun (HKSE:09991) Overvalued in 2026?

Based on GuruFocus' analysis, Baozun stock appears to be undervalued. The current stock price of HK$7.52 is trading 11.7% below its estimated GF Value™ of HK$8.51. GuruFocus considers Baozun to be Modestly Undervalued.

Key valuation signals for HKSE:09991:

  • E10: HK$-0.13
  • GF Value™: HK$8.51 vs. price of HK$7.52 (11.7% below fair value)
  • GF Score™: 84/100 with 1 warning sign

No single metric tells the full story. See the HKSE:09991 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Baozun Business Description

Other Exchanges BZUN:USA0HLU:UK2BZ:Germany
Address 33 Hysan Avenue, Room 1928, 19th Floor, Lee Garden One, Causeway Bay, Hong Kong, HKG
Baozun Inc is engaged to provide its customers with end-to-end e-commerce solutions including the sales of apparel, home and electronic products, online store design and setup, visual merchandising and marketing, online store operations, customer services, warehousing and order fulfillment, as well as the holistic brand management, including tactic positioning, branding and marketing, retail and e-commerce operations, supply chain and logistics, and technology empowerment. It has two operating segments: E-Commerce (encompassing BEC and BZI) and Brand Management (representing BBM). The company generates maximum of its revenue from E-Commerce (encompassing BEC and BZI) segment.
84GF Score

Get the complete analysis for HKSE:09991

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

HK$7.52
Price
HK$8.51
GF Value