Maruichi Co (NGO:8228) E10: 円59.04 (As of Mar. 2026)

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Director of Data and Quant Analytics at GuruFocus
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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:8228 Maruichi Co Ltd NGO:8228
56 GF Score
Price 円1,110.00
GF Value 円1,572.53
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is Maruichi Co E10?

Maruichi Co NGO:8228 -0.18% 56 E10 is 円59.04 as of Mar. 2026. GuruFocus rates NGO:8228 with a GF Score™ of 56/100 and a GF Value™ of 円1,572.53 (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.

Maruichi Co's adjusted earnings per share data for the three months ended in Mar. 2026 was 円-9.210. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円59.04 for the trailing ten years ended in Mar. 2026.

During the past 3 years, the average E10 Growth Rate was 6.80% 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 Maruichi Co was 8.10% per year. The lowest was 6.80% per year. And the median was 7.60% per year.

As of today (2026-08-26), Maruichi Co's current stock price is 円1110.00. Maruichi Co's E10 for the quarter that ended in Mar. 2026 was 円59.04. Maruichi Co's Shiller PE Ratio of today is 18.80.

During the past 13 years, the highest Shiller PE Ratio of Maruichi Co was 34.77. The lowest was 18.33. And the median was 23.90.


Maruichi Co  (NGO:8228) 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.

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

Shiller PE Ratio=Share Price/E10
=1110.00/59.04
=18.80

* 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 Maruichi Co was 34.77. The lowest was 18.33. And the median was 23.90.


Be Aware

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


Maruichi Co E10 Related Terms


Maruichi Co E10 Historical Data

* Premium members only.

The historical data trend for Maruichi 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.

Maruichi Co E10 Chart

Maruichi 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 44.23 48.52 54.13 0.00 59.04

Maruichi Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 58.28 59.43 63.90 59.04 0.00

NGO:8228 vs SYY, USFD, PFGC: E10 Comparison

For the Food Distribution subindustry, Maruichi 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.


Maruichi Co Shiller PE Ratio vs Retail - Defensive Industry

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

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


NGO:8228
56GF Score
Maruichi Co Ltd NGO:8228
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Maruichi 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, Maruichi 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)
=-9.21/112.7000*112.7000
=-9.210

Current CPI (Mar. 2026) = 112.7000.

Maruichi Co Quarterly Data

per share eps CPI Adj_EPS
201603 -14.793 97.900 -17.029
201606 14.860 98.100 17.072
201609 15.570 98.000 17.906
201612 29.283 98.400 33.539
201703 -7.993 98.100 -9.183
201706 12.550 98.500 14.359
201709 18.320 98.800 20.897
201712 37.280 99.400 42.268
201803 -6.861 99.200 -7.795
201806 11.690 99.200 13.281
201809 18.830 99.900 21.243
201812 35.110 99.700 39.688
201903 -12.108 99.700 -13.687
201906 12.030 99.800 13.585
201909 16.597 100.100 18.686
201912 38.760 100.500 43.465
202003 -8.297 100.300 -9.323
202006 14.940 99.900 16.854
202009 19.240 99.900 21.705
202012 41.730 99.300 47.361
202103 -19.931 99.900 -22.485
202106 9.090 99.500 10.296
202109 16.790 100.100 18.903
202112 37.820 100.100 42.581
202203 -32.530 101.100 -36.262
202206 13.310 101.800 14.735
202209 17.690 103.100 19.337
202212 39.283 104.100 42.528
202303 -13.290 104.400 -14.347
202306 14.000 105.200 14.998
202309 9.940 106.200 10.548
202312 30.635 106.800 32.327
202403 15.543 107.200 16.340
202406 22.190 108.200 23.113
202409 -8.920 108.900 -9.231
202503 0.000 111.100 0.000
202506 20.860 111.700 21.047
202509 18.770 112.000 18.887
202512 56.770 113.000 56.619
202603 -9.210 112.700 -9.210

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59.04 mean?
Maruichi Co (NGO:8228) has a E10 of 円59.04 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Maruichi Co and its competitors.
Is Maruichi Co's E10 too high?
Maruichi Co's current E10 is 円59.04. Overall, Maruichi Co has a GF Score™ of 56/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Maruichi Co's E10 compare to SYY and USFD?
Maruichi Co's E10 of 円59.04 can be compared against companies in the Retail - Defensive 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 - Defensive company?
A good E10 depends on the Retail - Defensive 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 Maruichi Co and its competitors. Maruichi Co's current E10 is 円59.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maruichi Co stock overvalued right now?
Based on GuruFocus' analysis, Maruichi Co (NGO:8228) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,572.53, compared to a current price of 円1,110.00 — trading 29.4% below its estimated fair value. The current E10 is 円59.04. Maruichi Co's overall GF Score™ is 56/100 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 Maruichi Co (NGO:8228), the current E10 is 円59.04 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 Maruichi Co (NGO:8228) Overvalued in 2026?

Based on GuruFocus' analysis, Maruichi Co stock appears to be undervalued. The current stock price of 円1,110.00 is trading 29.4% below its estimated GF Value™ of 円1,572.53. GuruFocus considers Maruichi Co to be Modestly Undervalued.

Key valuation signals for NGO:8228:

  • E10: 円59.04
  • GF Value™: 円1,572.53 vs. price of 円1,110.00 (29.4% below fair value)
  • GF Score™: 56/100 with 2 warning signs

No single metric tells the full story. See the NGO:8228 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Maruichi Co Business Description

Address 3-38 Nagano City Market, Nagano, JPN, 381-2281
Maruichi Co Ltd is engaged in the wholesale business of fishery products, dairy foods, and frozen foods, general dry foods, processed foods, livestock products, and processed livestock products, retail store support business, among others. The company has four reportable segments: "Fishery Business", "General Food Business", and "Livestock Business", which are segments by product and service based on business divisions, and "Marusui Nagano Kensui Group", which is a segment by operating company. The company generates the majority of its revenue from Fishery Business segment, which is engaged in seafood, processed seafood products, daily necessities, and frozen foods, and manufactures processed seafood products.
56GF Score

Get the complete analysis for NGO:8228

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

円1,110.00
Price
円1,572.53
GF Value