K Way Co (ROCO:5201) E10: NT$1.39 (As of Dec. 2025)

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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.

ROCO:5201 K Way Co Ltd ROCO:5201
66 GF Score
Price NT$26.55
GF Value NT$41.10
Valuation Significantly Undervalued
! 2 Warning Signs
View Full Analysis

What is K Way Co E10?

K Way Co ROCO:5201 -2.39% 66 E10 is NT$1.39 as of Dec. 2025. GuruFocus rates ROCO:5201 with a GF Score™ of 66/100 and a GF Value™ of NT$41.10 (Significantly 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.

K Way Co's adjusted earnings per share data for the three months ended in Dec. 2025 was NT$0.061. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is NT$1.39 for the trailing ten years ended in Dec. 2025.

During the past 12 months, K Way Co's average E10 Growth Rate was -8.60% per year. During the past 3 years, the average E10 Growth Rate was 2.50% per year. During the past 5 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 K Way Co was 15.40% per year. The lowest was 2.50% per year. And the median was 9.35% per year.

As of today (2026-07-14), K Way Co's current stock price is NT$26.55. K Way Co's E10 for the quarter that ended in Dec. 2025 was NT$1.39. K Way Co's Shiller PE Ratio of today is 19.10.

During the past 13 years, the highest Shiller PE Ratio of K Way Co was 38.43. The lowest was 17.30. And the median was 22.20.


K Way Co  (ROCO:5201) 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.

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

Shiller PE Ratio=Share Price/E10
=26.55/1.39
=19.10

* 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 K Way Co was 38.43. The lowest was 17.30. And the median was 22.20.


Be Aware

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


K Way Co E10 Related Terms


K Way Co E10 Historical Data

* Premium members only.

The historical data trend for K Way 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.

K Way Co E10 Chart

K Way Co 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 1.22 1.29 1.40 1.52 1.39

K Way Co 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 1.52 1.47 1.46 1.44 1.39

ROCO:5201 vs UBER, SHOP, CRM: E10 Comparison

For the Software - Application subindustry, K Way 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.


K Way Co Shiller PE Ratio vs Software Industry

For the Software industry and Technology sector, K Way Co's Shiller PE Ratio distribution charts can be found below:

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


ROCO:5201
66GF Score
K Way Co Ltd ROCO:5201
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

K Way 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, K Way Co'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)
=0.061/324.0540*324.0540
=0.061

Current CPI (Dec. 2025) = 324.0540.

K Way Co Quarterly Data

per share eps CPI Adj_EPS
201603 -0.271 238.132 -0.369
201606 -0.383 241.018 -0.515
201609 0.262 241.428 0.352
201612 0.355 241.432 0.476
201703 -0.420 243.801 -0.558
201706 0.075 244.955 0.099
201709 0.140 246.819 0.184
201712 0.402 246.524 0.528
201803 0.392 249.554 0.509
201806 0.234 251.989 0.301
201809 0.252 252.439 0.323
201812 0.374 251.233 0.482
201903 0.028 254.202 0.036
201906 0.430 256.143 0.544
201909 0.383 256.759 0.483
201912 0.402 256.974 0.507
202003 0.617 258.115 0.775
202006 1.065 257.797 1.339
202009 0.383 260.280 0.477
202012 0.813 260.474 1.011
202103 0.533 264.877 0.652
202106 -0.065 271.696 -0.078
202109 0.336 274.310 0.397
202112 0.654 278.802 0.760
202203 0.028 287.504 0.032
202206 -0.084 296.311 -0.092
202209 0.299 296.808 0.326
202212 0.271 296.797 0.296
202303 1.149 301.836 1.234
202306 0.645 305.109 0.685
202309 0.271 307.789 0.285
202312 0.206 306.746 0.218
202403 0.299 312.332 0.310
202406 0.673 314.175 0.694
202409 -0.187 315.301 -0.192
202412 1.445 315.605 1.484
202503 -0.308 319.799 -0.312
202506 -0.308 322.561 -0.309
202509 0.504 324.800 0.503
202512 0.061 324.054 0.061

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$1.39 mean?
K Way Co (ROCO:5201) has a E10 of NT$1.39 as of Dec. 2025. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on K Way Co and its competitors.
Is K Way Co's E10 too high?
K Way Co's current E10 is NT$1.39. Overall, K Way Co has a GF Score™ of 66/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does K Way Co's E10 compare to UBER and SHOP?
K Way Co's E10 of NT$1.39 can be compared against companies in the Software 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 Software company?
A good E10 depends on the Software 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 K Way Co and its competitors. K Way Co's current E10 is NT$1.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is K Way Co stock overvalued right now?
Based on GuruFocus' analysis, K Way Co (ROCO:5201) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$41.10, compared to a current price of NT$26.55 — trading 35.4% below its estimated fair value. The current E10 is NT$1.39. K Way Co's overall GF Score™ is 66/100 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 K Way Co (ROCO:5201), the current E10 is NT$1.39 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 K Way Co (ROCO:5201) Overvalued in 2026?

Based on GuruFocus' analysis, K Way Co stock appears to be undervalued. The current stock price of NT$26.55 is trading 35.4% below its estimated GF Value™ of NT$41.10. GuruFocus considers K Way Co to be Significantly Undervalued.

Key valuation signals for ROCO:5201:

  • E10: NT$1.39
  • GF Value™: NT$41.10 vs. price of NT$26.55 (35.4% below fair value)
  • GF Score™: 66/100 with 2 warning signs

No single metric tells the full story. See the ROCO:5201 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


K Way Co Business Description

Address Guangfu North Road, 5th Floor, No. 35, Lane 11, Songshan District, Taipei, TWN
K Way Co Ltd operates as a software company in financial industry. The company is focuses on the development of key system software in the securities and financial industry for trading, settlement, market data, FIX, trading tools. It mainly offers stable and speedy trading system, cross platform system, database settlement system, money management system, investment account management system & others.
66GF Score

Get the complete analysis for ROCO:5201

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

NT$26.55
Price
NT$41.10
GF Value