IWVTF (Intelligent Wave) E10: $0.24 (As of Dec. 2025)

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Vera Yuan
Vera Yuan
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
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.

IWVTF Intelligent Wave Inc IWVTF
70 GF Score
Price $5.80
GF Value $7.53
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is Intelligent Wave E10?

Intelligent Wave IWVTF 70 E10 is $0.24 as of Dec. 2025. GuruFocus rates IWVTF with a GF Score™ of 70/100 and a GF Value™ of $7.53 (Modestly Undervalued). The stock has 2 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.

Intelligent Wave's adjusted earnings per share data for the three months ended in Dec. 2025 was $0.114. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.24 for the trailing ten years ended in Dec. 2025.

During the past 12 months, Intelligent Wave's average E10 Growth Rate was 12.60% per year. During the past 3 years, the average E10 Growth Rate was 23.00% per year. During the past 5 years, the average E10 Growth Rate was 23.20% 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 Intelligent Wave was 25.70% per year. The lowest was 17.70% per year. And the median was 23.00% per year.

As of today (2026-07-18), Intelligent Wave's current stock price is $5.80. Intelligent Wave's E10 for the quarter that ended in Dec. 2025 was $0.24. Intelligent Wave's Shiller PE Ratio of today is 24.17.

During the past 13 years, the highest Shiller PE Ratio of Intelligent Wave was 102.85. The lowest was 24.22. And the median was 36.62.


Intelligent Wave  (OTCPK:IWVTF) 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.

Intelligent Wave's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=5.80/0.24
=24.17

* 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 Intelligent Wave was 102.85. The lowest was 24.22. And the median was 36.62.


Be Aware

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


Intelligent Wave E10 Related Terms


Intelligent Wave E10 Historical Data

* Premium members only.

The historical data trend for Intelligent Wave'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.

Intelligent Wave E10 Chart

Intelligent Wave Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Intelligent Wave 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 0.24 0.00

IWVTF vs MSFT, ORCL, PLTR: E10 Comparison

For the Software - Infrastructure subindustry, Intelligent Wave'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.


Intelligent Wave Shiller PE Ratio vs Software Industry

For the Software industry and Technology sector, Intelligent Wave's Shiller PE Ratio distribution charts can be found below:

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


IWVTF
70GF Score
Intelligent Wave Inc IWVTF
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Intelligent Wave 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, Intelligent Wave'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)
=0.114/113.0000*113.0000
=0.114

Current CPI (Dec. 2025) = 113.0000.

Intelligent Wave Quarterly Data

per share eps CPI Adj_EPS
201603 0.047 97.900 0.054
201606 0.082 98.100 0.094
201609 0.007 98.000 0.008
201612 0.056 98.400 0.064
201703 0.072 98.100 0.083
201706 0.048 98.500 0.055
201709 0.029 98.800 0.033
201712 0.016 99.400 0.018
201803 0.039 99.200 0.044
201806 0.048 99.200 0.055
201809 0.016 99.900 0.018
201812 0.053 99.700 0.060
201903 0.090 99.700 0.102
201906 0.076 99.800 0.086
201909 0.032 100.100 0.036
201912 0.051 100.500 0.057
202003 0.057 100.300 0.064
202006 0.129 99.900 0.146
202009 0.030 99.900 0.034
202012 0.074 99.300 0.084
202103 0.065 99.900 0.074
202106 0.128 99.500 0.145
202109 0.029 100.100 0.033
202112 0.085 100.100 0.096
202203 0.103 101.100 0.115
202206 0.113 101.800 0.125
202209 0.086 103.100 0.094
202212 0.066 104.100 0.072
202303 0.063 104.400 0.068
202306 0.103 105.200 0.111
202309 0.045 106.200 0.048
202312 0.108 106.800 0.114
202403 0.113 107.200 0.119
202406 0.095 108.200 0.099
202409 0.056 108.900 0.058
202412 0.100 110.700 0.102
202503 0.106 111.100 0.108
202506 0.086 111.700 0.087
202509 0.036 112.000 0.036
202512 0.114 113.000 0.114

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 $0.24 mean?
Intelligent Wave (IWVTF) has a E10 of $0.24 as of Dec. 2025. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Intelligent Wave and its competitors.
Is Intelligent Wave's E10 too high?
Intelligent Wave's current E10 is $0.24. Overall, Intelligent Wave has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Intelligent Wave's E10 compare to MSFT and ORCL?
Intelligent Wave's E10 of $0.24 can be compared against companies in the Software 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 Software company?
A good E10 depends on the Software 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 Intelligent Wave and its competitors. Intelligent Wave's current E10 is $0.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Intelligent Wave stock overvalued right now?
Based on GuruFocus' analysis, Intelligent Wave (IWVTF) is currently considered Modestly Undervalued. The stock's GF Value™ is $7.53, compared to a current price of $5.80 — trading 23% below its estimated fair value. The current E10 is $0.24. Intelligent Wave's overall GF Score™ is 70/100 with 2 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 Intelligent Wave (IWVTF), the current E10 is $0.24 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 Intelligent Wave (IWVTF) Overvalued in 2026?

Based on GuruFocus' analysis, Intelligent Wave stock appears to be undervalued. The current stock price of $5.80 is trading 23% below its estimated GF Value™ of $7.53. GuruFocus considers Intelligent Wave to be Modestly Undervalued.

Key valuation signals for IWVTF:

  • E10: $0.24
  • GF Value™: $7.53 vs. price of $5.80 (23% below fair value)
  • GF Score™: 70/100 with 2 warning signs

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


Intelligent Wave Business Description

Other Exchanges 4847:Japan
Address -21-2, Shinkawa, Chuo-ku, Kayabacho Tower, Tokyo, JPN, 104-0033
Intelligent Wave Inc is engaged in sales of system development services and system products, including hardware and software. It operates in two business segments including the Financial Systems Solutions business, and the Product Solutions business. In the Financial Systems Solutions business, it offers value-added system development, through software and hardware integration, and maintenance services for customers operating primarily in the financial services industry. In the Product Solutions business, it deploys and maintains high value-added systems for data security and other solutions based on the in-house developed product as well as system software procured from third parties for customers operating in a range of industries and fields.
70GF Score

Get the complete analysis for IWVTF

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

$5.80
Price
$7.53
GF Value