PT Adhi Karya (Persero) Tbk (ISX:ADHI) E10: Rp9.78 (As of Mar. 2026)


ISX:ADHI PT Adhi Karya (Persero) Tbk ISX:ADHI
57 GF Score
Price Rp146.00
GF Value Rp193.17
Valuation Modestly Undervalued
! 5 Warning Signs
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What is PT Adhi Karya (Persero) Tbk E10?

PT Adhi Karya (Persero) Tbk ISX:ADHI -4.58% 57 E10 is Rp9.78 as of Mar. 2026. GuruFocus rates ISX:ADHI with a GF Score™ of 57/100 and a GF Value™ of Rp193.17 (Modestly Undervalued). 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.

PT Adhi Karya (Persero) Tbk's adjusted earnings per share data for the three months ended in Mar. 2026 was Rp18.330. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is Rp9.78 for the trailing ten years ended in Mar. 2026.

During the past 12 months, PT Adhi Karya (Persero) Tbk's average E10 Growth Rate was -89.00% per year. During the past 3 years, the average E10 Growth Rate was -59.80% per year. During the past 5 years, the average E10 Growth Rate was -35.80% 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 PT Adhi Karya (Persero) Tbk was -5.90% per year. The lowest was -59.80% per year. And the median was -10.30% per year.

As of today (2026-07-07), PT Adhi Karya (Persero) Tbk's current stock price is Rp146.00. PT Adhi Karya (Persero) Tbk's E10 for the quarter that ended in Mar. 2026 was Rp9.78. PT Adhi Karya (Persero) Tbk's Shiller PE Ratio of today is 14.93.

During the past 13 years, the highest Shiller PE Ratio of PT Adhi Karya (Persero) Tbk was 33.05. The lowest was 1.78. And the median was 3.87.


PT Adhi Karya (Persero) Tbk  (ISX:ADHI) 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.

PT Adhi Karya (Persero) Tbk's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=146.00/9.78
=14.93

* 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 PT Adhi Karya (Persero) Tbk was 33.05. The lowest was 1.78. And the median was 3.87.


Be Aware

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


PT Adhi Karya (Persero) Tbk E10 Related Terms


PT Adhi Karya (Persero) Tbk E10 Historical Data

* Premium members only.

The historical data trend for PT Adhi Karya (Persero) Tbk'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.

PT Adhi Karya (Persero) Tbk E10 Chart

PT Adhi Karya (Persero) Tbk 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 131.85 126.70 107.56 89.03 8.23

PT Adhi Karya (Persero) Tbk 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 88.74 86.25 82.76 8.23 9.78

ISX:ADHI vs PWR, FIX, EME: E10 Comparison

For the Engineering & Construction subindustry, PT Adhi Karya (Persero) Tbk'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.


PT Adhi Karya (Persero) Tbk Shiller PE Ratio vs Construction Industry

For the Construction industry and Industrials sector, PT Adhi Karya (Persero) Tbk's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where PT Adhi Karya (Persero) Tbk's Shiller PE Ratio falls into.


ISX:ADHI
57GF Score
PT Adhi Karya (Persero) Tbk ISX:ADHI
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Adhi Karya (Persero) Tbk 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, PT Adhi Karya (Persero) Tbk'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)
=18.33/136.5387*136.5387
=18.330

Current CPI (Mar. 2026) = 136.5387.

PT Adhi Karya (Persero) Tbk Quarterly Data

per share eps CPI Adj_EPS
201606 11.534 103.212 15.258
201609 15.337 104.142 20.108
201612 50.983 105.222 66.157
201703 4.926 106.476 6.317
201706 28.843 107.722 36.559
201709 18.963 108.020 23.969
201712 80.037 109.017 100.243
201803 18.844 110.097 23.370
201806 35.848 111.085 44.062
201809 31.590 111.135 38.811
201812 79.361 112.430 96.379
201903 19.421 112.829 23.502
201906 35.862 114.730 42.679
201909 35.024 114.905 41.618
201912 80.001 115.486 94.585
202003 2.747 116.252 3.226
202006 -0.971 116.630 -1.137
202009 2.179 116.397 2.556
202012 2.207 117.318 2.569
202103 1.731 117.840 2.006
202106 0.395 118.184 0.456
202109 2.243 118.262 2.590
202112 9.814 119.516 11.212
202203 1.831 120.948 2.067
202206 0.797 123.322 0.882
202209 2.774 125.298 3.023
202212 7.162 126.098 7.755
202303 1.930 126.953 2.076
202306 0.471 127.663 0.504
202309 1.320 128.151 1.406
202312 22.656 129.395 23.907
202403 1.210 130.607 1.265
202406 0.430 130.792 0.449
202409 6.607 130.361 6.920
202412 -18.570 131.432 -19.292
202503 0.040 131.948 0.041
202506 0.860 133.241 0.881
202509 -0.372 133.819 -0.380
202512 -643.110 135.271 -649.136
202603 18.330 136.539 18.330

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 Rp9.78 mean?
PT Adhi Karya (Persero) Tbk (ISX:ADHI) has a E10 of Rp9.78 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on PT Adhi Karya (Persero) Tbk and its competitors.
Is PT Adhi Karya (Persero) Tbk's E10 too high?
PT Adhi Karya (Persero) Tbk's current E10 is Rp9.78. Overall, PT Adhi Karya (Persero) Tbk has a GF Score™ of 57/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Adhi Karya (Persero) Tbk's E10 compare to PWR and FIX?
PT Adhi Karya (Persero) Tbk's E10 of Rp9.78 can be compared against companies in the Construction 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 Construction company?
A good E10 depends on the Construction 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 PT Adhi Karya (Persero) Tbk and its competitors. PT Adhi Karya (Persero) Tbk's current E10 is Rp9.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Adhi Karya (Persero) Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Adhi Karya (Persero) Tbk (ISX:ADHI) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp193.17, compared to a current price of Rp146.00 — trading 24.4% below its estimated fair value. The current E10 is Rp9.78. PT Adhi Karya (Persero) Tbk'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 PT Adhi Karya (Persero) Tbk (ISX:ADHI), the current E10 is Rp9.78 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 PT Adhi Karya (Persero) Tbk (ISX:ADHI) Overvalued in 2026?

Based on GuruFocus' analysis, PT Adhi Karya (Persero) Tbk stock appears to be undervalued. The current stock price of Rp146.00 is trading 24.4% below its estimated GF Value™ of Rp193.17. GuruFocus considers PT Adhi Karya (Persero) Tbk to be Modestly Undervalued.

Key valuation signals for ISX:ADHI:

  • E10: Rp9.78
  • GF Value™: Rp193.17 vs. price of Rp146.00 (24.4% below fair value)
  • GF Score™: 57/100 with 5 warning signs

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


PT Adhi Karya (Persero) Tbk Business Description

Other Exchanges KM6:Germany
Address Jalan Raya Pasar Minggu Km. 18, Harmonis Building, Jakata, IDN, 12510
PT Adhi Karya (Persero) Tbk is an Indonesia-based company that provides construction services. The company operates through segments namely the Engineering and Infrastructure segment, Property and Hospitality, Manufacturing, Investments and Concessions. The company generates majority of its revenue from the Engineering and Infrastructure segment.
57GF Score

Get the complete analysis for ISX:ADHI

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

Rp146.00
Price
Rp193.17
GF Value