REC Silicon ASA (OSL:RECSI) E10: kr-3.83 (As of Mar. 2026)


OSL:RECSI REC Silicon ASA OSL:RECSI
39 GF Score
Price kr0.23
GF Value kr1.13
Valuation Possible Value Trap
! 8 Warning Signs
View Full Analysis

What is REC Silicon ASA E10?

REC Silicon ASA OSL:RECSI 39 E10 is kr-3.83 as of Mar. 2026. GuruFocus rates OSL:RECSI with a GF Score™ of 39/100 and a GF Value™ of kr1.13 (Possible Value Trap). The stock has 8 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.

REC Silicon ASA's adjusted earnings per share data for the three months ended in Mar. 2026 was kr-0.386. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is kr-3.83 for the trailing ten years ended in Mar. 2026.

During the past 3 years, the average E10 Growth Rate was -5.80% per year. During the past 5 years, the average E10 Growth Rate was 19.00% 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 REC Silicon ASA was 41.10% per year. The lowest was -5.80% per year. And the median was 18.75% per year.

As of today (2026-06-26), REC Silicon ASA's current stock price is kr0.23. REC Silicon ASA's E10 for the quarter that ended in Mar. 2026 was kr-3.83. REC Silicon ASA's Shiller PE Ratio of today is .


REC Silicon ASA  (OSL:RECSI) 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.


Be Aware

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


REC Silicon ASA E10 Related Terms


REC Silicon ASA E10 Historical Data

* Premium members only.

The historical data trend for REC Silicon ASA'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.

REC Silicon ASA E10 Chart

REC Silicon ASA 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 -6.22 -3.39 -2.63 -4.02 -4.02

REC Silicon ASA 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 -4.27 -4.26 -4.38 -4.02 -3.83

OSL:RECSI vs LRCX, AMAT, KLAC: E10 Comparison

For the Semiconductor Equipment & Materials subindustry, REC Silicon ASA'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.


REC Silicon ASA Shiller PE Ratio vs Semiconductors Industry

For the Semiconductors industry and Technology sector, REC Silicon ASA's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where REC Silicon ASA's Shiller PE Ratio falls into.


OSL:RECSI
39GF Score
REC Silicon ASA OSL:RECSI
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

REC Silicon ASA 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, REC Silicon ASA'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)
=-0.386/139.1000*139.1000
=-0.386

Current CPI (Mar. 2026) = 139.1000.

REC Silicon ASA Quarterly Data

per share eps CPI Adj_EPS
201606 -0.556 103.800 -0.745
201609 -2.196 104.200 -2.932
201612 0.573 104.400 0.763
201703 -0.570 105.000 -0.755
201706 -1.133 105.800 -1.490
201709 -2.625 105.900 -3.448
201712 -3.342 106.100 -4.381
201803 1.041 107.300 1.350
201806 -8.148 108.500 -10.446
201809 -0.442 109.500 -0.561
201812 -0.173 109.800 -0.219
201903 -0.519 110.400 -0.654
201906 -0.809 110.600 -1.017
201909 -0.422 111.100 -0.528
201912 -1.027 111.300 -1.284
202003 -0.274 111.200 -0.343
202006 -0.638 112.100 -0.792
202009 0.675 112.900 0.832
202012 -0.525 112.900 -0.647
202103 -0.114 114.600 -0.138
202106 -0.056 115.300 -0.068
202109 -0.058 117.500 -0.069
202112 -0.180 118.900 -0.211
202203 -0.118 119.800 -0.137
202206 -0.392 122.600 -0.445
202209 -0.483 125.600 -0.535
202212 -0.397 125.900 -0.439
202303 -0.564 127.600 -0.615
202306 -0.217 130.400 -0.231
202309 -0.431 129.800 -0.462
202312 1.766 131.900 1.862
202403 -0.213 132.600 -0.223
202406 -0.853 133.800 -0.887
202409 -0.925 133.700 -0.962
202412 -5.636 134.800 -5.816
202503 -0.641 136.100 -0.655
202506 -0.135 137.800 -0.136
202509 -0.200 138.500 -0.201
202512 -0.271 139.100 -0.271
202603 -0.386 139.100 -0.386

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 kr-3.83 mean?
REC Silicon ASA (OSL:RECSI) has a E10 of kr-3.83 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on REC Silicon ASA and its competitors.
Is REC Silicon ASA's E10 too high?
REC Silicon ASA's current E10 is kr-3.83. Overall, REC Silicon ASA has a GF Score™ of 39/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does REC Silicon ASA's E10 compare to LRCX and AMAT?
REC Silicon ASA's E10 of kr-3.83 can be compared against companies in the Semiconductors 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 Semiconductors company?
A good E10 depends on the Semiconductors 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 REC Silicon ASA and its competitors. REC Silicon ASA's current E10 is kr-3.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is REC Silicon ASA stock overvalued right now?
Based on GuruFocus' analysis, REC Silicon ASA (OSL:RECSI) is currently considered Possible Value Trap. The stock's GF Value™ is kr1.13, compared to a current price of kr0.23 — trading 79.6% below its estimated fair value. The current E10 is kr-3.83. REC Silicon ASA's overall GF Score™ is 39/100 with 8 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 REC Silicon ASA (OSL:RECSI), the current E10 is kr-3.83 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 REC Silicon ASA (OSL:RECSI) Overvalued in 2026?

Based on GuruFocus' analysis, REC Silicon ASA stock appears to be undervalued. The current stock price of kr0.23 is trading 79.6% below its estimated GF Value™ of kr1.13. GuruFocus considers REC Silicon ASA to be Possible Value Trap.

Key valuation signals for OSL:RECSI:

  • E10: kr-3.83
  • GF Value™: kr1.13 vs. price of kr0.23 (79.6% below fair value)
  • GF Score™: 39/100 with 8 warning signs

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


REC Silicon ASA Business Description

Address Lysaker Torg 5, 3. etg, PO Box 63, Lysaker, NOR, 1324
REC Silicon ASA is a producer of silicon materials, supplying high-purity polysilicon and silicon gases to the solar and electronics industries. The product offered by the group includes Solar grade polysilicon, Electronic grade polysilicon, and Silicon gases. It operates in two segments, namely Solar Materials and Semiconductor Materials. The majority of the firm's revenue is generated through the Semiconductor Materials segment. The company operates geographically in the USA, Korea, China, Taiwan, Japan, France, Singapore, Denmark, Malaysia, Belgium, Ireland, India, Israel, Vietnam, Norway,and Other North American countries, with majority of revenue from the USA.
39GF Score

Get the complete analysis for OSL:RECSI

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

kr0.23
Price
kr1.13
GF Value