Maruhachi Holdings Co (NGO:3504) E10: 円118.29 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
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.
Reviewed by: Charlie Tian Charlie Tian
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.

NGO:3504 Maruhachi Holdings Co Ltd NGO:3504
60 GF Score
Price 円1,388.00
GF Value 円898.94
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is Maruhachi Holdings Co E10?

Maruhachi Holdings Co NGO:3504 -2.60% 60 E10 is 円118.29 as of Mar. 2026. GuruFocus rates NGO:3504 with a GF Score™ of 60/100 and a GF Value™ of 円898.94 (Significantly Overvalued). The stock has 6 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.

Maruhachi Holdings Co's adjusted earnings per share data for the three months ended in Mar. 2026 was 円79.590. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円118.29 for the trailing ten years ended in Mar. 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 (2026-08-29), Maruhachi Holdings Co's current stock price is 円1388.00. Maruhachi Holdings Co's E10 for the quarter that ended in Mar. 2026 was 円118.29. Maruhachi Holdings Co's Shiller PE Ratio of today is 11.73.

During the past 12 years, the highest Shiller PE Ratio of Maruhachi Holdings Co was 12.00. The lowest was 8.86. And the median was 10.05.


Maruhachi Holdings Co  (NGO:3504) 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.

Maruhachi Holdings Co's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=1388.00/118.29
=11.73

* 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 12 years, the highest Shiller P/E Ratio of Maruhachi Holdings Co was 12.00. The lowest was 8.86. And the median was 10.05.


Be Aware

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


Maruhachi Holdings Co E10 Related Terms


Maruhachi Holdings Co E10 Historical Data

* Premium members only.

The historical data trend for Maruhachi Holdings Co'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.

Maruhachi Holdings Co E10 Chart

Maruhachi Holdings Co 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 0.00 118.29

Maruhachi Holdings Co 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 0.00 104.94 112.29 118.29 0.00

NGO:3504 vs SN, SGI, MHK: E10 Comparison

For the Furnishings, Fixtures & Appliances subindustry, Maruhachi Holdings Co'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.


Maruhachi Holdings Co Shiller PE Ratio vs Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Maruhachi Holdings Co's Shiller PE Ratio distribution charts can be found below:

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


NGO:3504
60GF Score
Maruhachi Holdings Co Ltd NGO:3504
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Maruhachi Holdings Co 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, Maruhachi Holdings Co'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)
=79.59/112.7000*112.7000
=79.590

Current CPI (Mar. 2026) = 112.7000.

Maruhachi Holdings Co Quarterly Data

per share eps CPI Adj_EPS
201606 0.190 98.100 0.218
201609 34.930 98.000 40.170
201612 55.310 98.400 63.348
201703 -15.330 98.100 -17.612
201706 21.700 98.500 24.828
201709 18.420 98.800 21.011
201712 24.894 99.400 28.225
201803 6.190 99.200 7.032
201806 12.020 99.200 13.656
201809 24.720 99.900 27.887
201812 16.042 99.700 18.134
201903 -0.210 99.700 -0.237
201906 0.320 99.800 0.361
201909 8.217 100.100 9.251
201912 28.450 100.500 31.904
202003 -5.080 100.300 -5.708
202006 20.290 99.900 22.890
202009 16.090 99.900 18.152
202012 16.570 99.300 18.806
202103 -18.011 99.900 -20.319
202106 19.950 99.500 22.597
202109 28.946 100.100 32.590
202112 51.500 100.100 57.983
202203 1.270 101.100 1.416
202206 47.120 101.800 52.165
202209 36.329 103.100 39.712
202212 89.740 104.100 97.154
202303 18.380 104.400 19.841
202306 47.770 105.200 51.176
202309 46.480 106.200 49.325
202312 37.979 106.800 40.077
202403 17.956 107.200 18.877
202406 117.748 108.200 122.645
202409 -39.618 108.900 -41.000
202412 74.310 110.700 75.653
202503 1.310 111.100 1.329
202506 10.550 111.700 10.644
202509 58.440 112.000 58.805
202512 90.540 113.000 90.300
202603 79.590 112.700 79.590

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 円118.29 mean?
Maruhachi Holdings Co (NGO:3504) has a E10 of 円118.29 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Maruhachi Holdings Co and its competitors.
Is Maruhachi Holdings Co's E10 too high?
Maruhachi Holdings Co's current E10 is 円118.29. Overall, Maruhachi Holdings Co has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Maruhachi Holdings Co's E10 compare to SN and SGI?
Maruhachi Holdings Co's E10 of 円118.29 can be compared against companies in the Furnishings, Fixtures & Appliances 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 Furnishings, Fixtures & Appliances company?
A good E10 depends on the Furnishings, Fixtures & Appliances 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 Maruhachi Holdings Co and its competitors. Maruhachi Holdings Co's current E10 is 円118.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maruhachi Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Maruhachi Holdings Co (NGO:3504) is currently considered Significantly Overvalued. The stock's GF Value™ is 円898.94, compared to a current price of 円1,388.00 — trading 54.4% above its estimated fair value. The current E10 is 円118.29. Maruhachi Holdings Co's overall GF Score™ is 60/100 with 6 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 Maruhachi Holdings Co (NGO:3504), the current E10 is 円118.29 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 Maruhachi Holdings Co (NGO:3504) Overvalued in 2026?

Based on GuruFocus' analysis, Maruhachi Holdings Co stock appears to be overvalued. The current stock price of 円1,388.00 is trading 54.4% above its estimated GF Value™ of 円898.94. GuruFocus considers Maruhachi Holdings Co to be Significantly Overvalued.

Key valuation signals for NGO:3504:

  • E10: 円118.29
  • GF Value™: 円898.94 vs. price of 円1,388.00 (54.4% above fair value)
  • GF Score™: 60/100 with 6 warning signs

No single metric tells the full story. See the NGO:3504 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Maruhachi Holdings Co Business Description

Address Kohoku 3-8-12 8th Floor, Kanagawa-ku, Yokohama, Yubinbango, Yokohama, JPN, 222-0033
Maruhachi Holdings Co Ltd manufactures and sells bedding products including bedding feathers, wool bedding, & fur bedding; and also offers curtains. It is also engaged in real estate leasing business.
60GF Score

Get the complete analysis for NGO:3504

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

円1,388.00
Price
円898.94
GF Value