I&M Group (NAI:IMH) E10: KES7.75 (As of Mar. 2026)


NAI:IMH I&M Group PLC NAI:IMH
77 GF Score
Price KES69.50
GF Value KES38.54
Valuation Significantly Overvalued
! 4 Warning Signs
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What is I&M Group E10?

I&M Group NAI:IMH +2.21% 77 E10 is KES7.75 as of Mar. 2026. GuruFocus rates NAI:IMH with a GF Score™ of 77/100 and a GF Value™ of KES38.54 (Significantly 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.

I&M Group's adjusted earnings per share data for the three months ended in Mar. 2026 was KES2.710. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is KES7.75 for the trailing ten years ended in Mar. 2026.

During the past 12 months, I&M Group's average E10 Growth Rate was 10.90% 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.

As of today (2026-07-01), I&M Group's current stock price is KES69.50. I&M Group's E10 for the quarter that ended in Mar. 2026 was KES7.75. I&M Group's Shiller PE Ratio of today is 8.97.

During the past 13 years, the highest Shiller PE Ratio of I&M Group was 8.48. The lowest was 2.56. And the median was 4.28.


I&M Group  (NAI:IMH) 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.

I&M Group's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=69.50/7.75
=8.97

* 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 I&M Group was 8.48. The lowest was 2.56. And the median was 4.28.


Be Aware

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


I&M Group E10 Related Terms


I&M Group E10 Historical Data

* Premium members only.

The historical data trend for I&M Group'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.

I&M Group E10 Chart

I&M Group 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 6.50 6.82 7.51

I&M Group 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 6.99 7.14 7.29 7.51 7.75

I&M Group E10 Competitor Comparison

For the Banks - Regional subindustry, I&M Group'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.


I&M Group Shiller PE Ratio vs Banks Industry

For the Banks industry and Financial Services sector, I&M Group's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where I&M Group's Shiller PE Ratio falls into.


NAI:IMH
77GF Score
I&M Group PLC NAI:IMH
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

I&M Group 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, I&M Group'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)
=2.71/330.2130*330.2130
=2.710

Current CPI (Mar. 2026) = 330.2130.

I&M Group Quarterly Data

per share eps CPI Adj_EPS
201606 1.113 241.018 1.525
201609 1.198 241.428 1.639
201612 1.080 241.432 1.477
201703 1.020 243.801 1.382
201706 0.945 244.955 1.274
201709 0.788 246.819 1.054
201712 1.340 246.524 1.795
201803 1.030 249.554 1.363
201806 1.166 251.989 1.528
201809 1.146 252.439 1.499
201812 1.467 251.233 1.928
201903 2.745 254.202 3.566
201906 1.222 256.143 1.575
201909 1.215 256.759 1.563
201912 2.425 256.974 3.116
202003 0.945 258.115 1.209
202006 0.905 257.797 1.159
202009 0.785 260.280 0.996
202012 2.245 260.474 2.846
202103 1.080 264.877 1.346
202106 1.360 271.696 1.653
202109 0.850 274.310 1.023
202112 1.630 278.802 1.931
202203 1.550 287.504 1.780
202206 1.280 296.311 1.426
202209 1.290 296.808 1.435
202212 2.650 296.797 2.948
202303 1.540 301.836 1.685
202306 1.350 305.109 1.461
202309 1.810 307.789 1.942
202312 2.930 306.746 3.154
202403 2.010 312.332 2.125
202406 1.260 314.175 1.324
202409 2.270 315.301 2.377
202412 3.360 315.605 3.516
202503 2.330 319.799 2.406
202506 2.180 322.561 2.232
202509 2.370 324.800 2.409
202512 4.080 324.054 4.158
202603 2.710 330.213 2.710

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 KES7.75 mean?
I&M Group (NAI:IMH) has a E10 of KES7.75 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on I&M Group and its competitors.
Is I&M Group's E10 too high?
I&M Group's current E10 is KES7.75. Overall, I&M Group has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does I&M Group's E10 compare to competitors?
I&M Group's E10 of KES7.75 can be compared against companies in the Banks 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 Banks company?
A good E10 depends on the Banks 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 I&M Group and its competitors. I&M Group's current E10 is KES7.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is I&M Group stock overvalued right now?
Based on GuruFocus' analysis, I&M Group (NAI:IMH) is currently considered Significantly Overvalued. The stock's GF Value™ is KES38.54, compared to a current price of KES69.50 — trading 80.3% above its estimated fair value. The current E10 is KES7.75. I&M Group's overall GF Score™ is 77/100 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 I&M Group (NAI:IMH), the current E10 is KES7.75 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 I&M Group (NAI:IMH) Overvalued in 2026?

Based on GuruFocus' analysis, I&M Group stock appears to be overvalued. The current stock price of KES69.50 is trading 80.3% above its estimated GF Value™ of KES38.54. GuruFocus considers I&M Group to be Significantly Overvalued.

Key valuation signals for NAI:IMH:

  • E10: KES7.75
  • GF Value™: KES38.54 vs. price of KES69.50 (80.3% above fair value)
  • GF Score™: 77/100 with 4 warning signs

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


I&M Group Business Description

Address 1 Park Avenue, 1st Parklands Avenue, P.O. Box 30238, Nairobi, KEN, 00100
I&M Group PLC is a non-operating holding company, along with its subsidiaries, providing banking, financial, and related services. The group operations are divided into five geographical segments: Kenya, Tanzania, Rwanda, Mauritius, and Uganda. It offers a range of personal banking products, such as bank accounts, cards, mobile banking, Internet banking, investment management services, loans, foreign exchange, and funds transfer. Business banking products include business accounts, loans, e-commerce, salary processing, trade services, interest rates, foreign exchange, insurance premium financing, funds transfer, asset finance, and cash management services.
77GF Score

Get the complete analysis for NAI:IMH

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

KES69.50
Price
KES38.54
GF Value