Tons Lightology (ROCO:4972) E10: NT$2.12 (As of Dec. 2025)

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.

ROCO:4972 Tons Lightology Inc ROCO:4972
65 GF Score
Price NT$16.80
GF Value NT$20.13
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Tons Lightology E10?

Tons Lightology ROCO:4972 -0.59% 65 E10 is NT$2.12 as of Dec. 2025. GuruFocus rates ROCO:4972 with a GF Score™ of 65/100 and a GF Value™ of NT$20.13 (Modestly Undervalued). The stock has 3 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.

Tons Lightology's adjusted earnings per share data for the three months ended in Dec. 2025 was NT$-0.260. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is NT$2.12 for the trailing ten years ended in Dec. 2025.

During the past 12 months, Tons Lightology's average E10 Growth Rate was -22.30% per year. During the past 3 years, the average E10 Growth Rate was -11.20% per year. During the past 5 years, the average E10 Growth Rate was -4.70% 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 Tons Lightology was 1.90% per year. The lowest was -11.20% per year. And the median was -2.70% per year.

As of today (2026-07-14), Tons Lightology's current stock price is NT$16.80. Tons Lightology's E10 for the quarter that ended in Dec. 2025 was NT$2.12. Tons Lightology's Shiller PE Ratio of today is 7.92.

During the past 13 years, the highest Shiller PE Ratio of Tons Lightology was 13.35. The lowest was 6.77. And the median was 9.52.


Tons Lightology  (ROCO:4972) 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.

Tons Lightology's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=16.80/2.12
=7.92

* 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 Tons Lightology was 13.35. The lowest was 6.77. And the median was 9.52.


Be Aware

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


Tons Lightology E10 Related Terms


Tons Lightology E10 Historical Data

* Premium members only.

The historical data trend for Tons Lightology'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.

Tons Lightology E10 Chart

Tons Lightology 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 2.96 3.03 2.98 2.73 2.12

Tons Lightology Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 2.73 2.68 2.52 2.29 2.12

ROCO:4972 vs SN, SGI, MHK: E10 Comparison

For the Furnishings, Fixtures & Appliances subindustry, Tons Lightology'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.


Tons Lightology Shiller PE Ratio vs Furnishings, Fixtures & Appliances Industry

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

* The bar in red indicates where Tons Lightology's Shiller PE Ratio falls into.


ROCO:4972
65GF Score
Tons Lightology Inc ROCO:4972
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tons Lightology 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, Tons Lightology'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)
=-0.26/324.0540*324.0540
=-0.260

Current CPI (Dec. 2025) = 324.0540.

Tons Lightology Quarterly Data

per share eps CPI Adj_EPS
201603 0.950 238.132 1.293
201606 0.960 241.018 1.291
201609 0.790 241.428 1.060
201612 0.420 241.432 0.564
201703 0.430 243.801 0.572
201706 0.580 244.955 0.767
201709 0.920 246.819 1.208
201712 1.070 246.524 1.407
201803 5.620 249.554 7.298
201806 -1.600 251.989 -2.058
201809 0.780 252.439 1.001
201812 -2.230 251.233 -2.876
201903 0.520 254.202 0.663
201906 0.350 256.143 0.443
201909 0.840 256.759 1.060
201912 0.950 256.974 1.198
202003 -1.130 258.115 -1.419
202006 1.190 257.797 1.496
202009 1.050 260.280 1.307
202012 1.000 260.474 1.244
202103 0.010 264.877 0.012
202106 0.240 271.696 0.286
202109 1.010 274.310 1.193
202112 1.210 278.802 1.406
202203 0.250 287.504 0.282
202206 0.330 296.311 0.361
202209 0.130 296.808 0.142
202212 0.620 296.797 0.677
202303 0.020 301.836 0.021
202306 -0.180 305.109 -0.191
202309 0.060 307.789 0.063
202312 1.250 306.746 1.321
202403 -0.310 312.332 -0.322
202406 0.170 314.175 0.175
202409 -0.060 315.301 -0.062
202412 0.204 315.605 0.209
202503 -0.330 319.799 -0.334
202506 -0.630 322.561 -0.633
202509 -0.620 324.800 -0.619
202512 -0.260 324.054 -0.260

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 NT$2.12 mean?
Tons Lightology (ROCO:4972) has a E10 of NT$2.12 as of Dec. 2025. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Tons Lightology and its competitors.
Is Tons Lightology's E10 too high?
Tons Lightology's current E10 is NT$2.12. Overall, Tons Lightology has a GF Score™ of 65/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tons Lightology's E10 compare to SN and SGI?
Tons Lightology's E10 of NT$2.12 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 Tons Lightology and its competitors. Tons Lightology's current E10 is NT$2.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tons Lightology stock overvalued right now?
Based on GuruFocus' analysis, Tons Lightology (ROCO:4972) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$20.13, compared to a current price of NT$16.80 — trading 16.5% below its estimated fair value. The current E10 is NT$2.12. Tons Lightology's overall GF Score™ is 65/100 with 3 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 Tons Lightology (ROCO:4972), the current E10 is NT$2.12 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 Tons Lightology (ROCO:4972) Overvalued in 2026?

Based on GuruFocus' analysis, Tons Lightology stock appears to be undervalued. The current stock price of NT$16.80 is trading 16.5% below its estimated GF Value™ of NT$20.13. GuruFocus considers Tons Lightology to be Modestly Undervalued.

Key valuation signals for ROCO:4972:

  • E10: NT$2.12
  • GF Value™: NT$20.13 vs. price of NT$16.80 (16.5% below fair value)
  • GF Score™: 65/100 with 3 warning signs

No single metric tells the full story. See the ROCO:4972 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tons Lightology Business Description

Address No. 236, Bo’ai Street, 4th Floor, Shulin District, New Taipei, TWN, 23845
Tons Lightology Inc engages in the design, manufacture, and sale of commercial lighting fixtures. The company's operating segment includes Tons Lightology Inc; Titan Lighting Co. Ltd, Zhongshan Tons Lighting Co. Ltd, and StrongLED Lighting System (Cayman) Co. Ltd. It generates maximum revenue from the Tons Lightology Inc. segment. Geographically, it derives a majority of revenue from Europe and also has a presence in Asia, Oceania, and other countries. It focuses on indoor lighting and outdoor lighting. The company's products are used for museum/gallery, commercial, hotel, club, office, and Outdoor applications.
65GF Score

Get the complete analysis for ROCO:4972

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

NT$16.80
Price
NT$20.13
GF Value