Spring Airlines Co (SHSE:601021) E10: ¥1.07 (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.

SHSE:601021 Spring Airlines Co Ltd SHSE:601021
69 GF Score
Price ¥45.26
GF Value ¥66.14
Valuation Significantly Undervalued
! 2 Warning Signs
View Full Analysis

What is Spring Airlines Co E10?

Spring Airlines Co SHSE:601021 +0.15% 69 E10 is ¥1.07 as of Mar. 2026. GuruFocus rates SHSE:601021 with a GF Score™ of 69/100 and a GF Value™ of ¥66.14 (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.

Spring Airlines Co's adjusted earnings per share data for the three months ended in Mar. 2026 was ¥1.020. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ¥1.07 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Spring Airlines Co's average E10 Growth Rate was 7.00% per year. During the past 3 years, the average E10 Growth Rate was 8.40% 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 Spring Airlines Co was 8.40% per year. The lowest was 8.40% per year. And the median was 8.40% per year.

As of today (2026-07-14), Spring Airlines Co's current stock price is ¥45.26. Spring Airlines Co's E10 for the quarter that ended in Mar. 2026 was ¥1.07. Spring Airlines Co's Shiller PE Ratio of today is 42.30.

During the past 13 years, the highest Shiller PE Ratio of Spring Airlines Co was 80.44. The lowest was 41.71. And the median was 55.23.


Spring Airlines Co  (SHSE:601021) 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.

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

Shiller PE Ratio=Share Price/E10
=45.26/1.07
=42.30

* 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 Spring Airlines Co was 80.44. The lowest was 41.71. And the median was 55.23.


Be Aware

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


Spring Airlines Co E10 Related Terms


Spring Airlines Co E10 Historical Data

* Premium members only.

The historical data trend for Spring Airlines 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.

Spring Airlines Co E10 Chart

Spring Airlines 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 0.00 0.80 0.90 0.97 1.02

Spring Airlines Co 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 1.00 0.99 1.04 1.02 1.07

SHSE:601021 vs DAL, UAL, LUV: E10 Comparison

For the Airlines subindustry, Spring Airlines 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.


Spring Airlines Co Shiller PE Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Spring Airlines Co's Shiller PE Ratio distribution charts can be found below:

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


SHSE:601021
69GF Score
Spring Airlines Co Ltd SHSE:601021
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Spring Airlines 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, Spring Airlines 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)
=1.02/116.3033*116.3033
=1.020

Current CPI (Mar. 2026) = 116.3033.

Spring Airlines Co Quarterly Data

per share eps CPI Adj_EPS
201606 0.470 101.400 0.539
201609 0.530 102.400 0.602
201612 -0.270 102.600 -0.306
201703 0.380 103.200 0.428
201706 0.310 103.100 0.350
201709 0.790 104.100 0.883
201712 0.100 104.500 0.111
201803 0.460 105.300 0.508
201806 0.370 104.900 0.410
201809 0.750 106.600 0.818
201812 0.090 106.500 0.098
201903 0.520 107.700 0.562
201906 0.410 107.700 0.443
201909 0.940 109.800 0.996
201912 0.140 111.200 0.146
202003 -0.250 112.300 -0.259
202006 -0.200 110.400 -0.211
202009 0.290 111.700 0.302
202012 -0.480 111.500 -0.501
202103 -0.310 112.662 -0.320
202106 0.320 111.769 0.333
202109 0.160 112.215 0.166
202112 -0.130 113.108 -0.134
202203 -0.480 114.335 -0.488
202206 -0.880 114.558 -0.893
202209 -0.540 115.339 -0.545
202212 -1.400 115.116 -1.414
202303 0.360 115.116 0.364
202306 0.500 114.558 0.508
202309 1.880 115.339 1.896
202312 -0.430 114.781 -0.436
202403 0.830 115.227 0.838
202406 0.560 114.781 0.567
202409 1.280 115.785 1.286
202412 -0.340 114.893 -0.344
202503 0.690 115.116 0.697
202506 0.510 114.907 0.516
202509 1.200 115.471 1.209
202512 -0.020 115.832 -0.020
202603 1.020 116.303 1.020

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 ¥1.07 mean?
Spring Airlines Co (SHSE:601021) has a E10 of ¥1.07 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Spring Airlines Co and its competitors.
Is Spring Airlines Co's E10 too high?
Spring Airlines Co's current E10 is ¥1.07. Overall, Spring Airlines Co has a GF Score™ of 69/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Spring Airlines Co's E10 compare to DAL and UAL?
Spring Airlines Co's E10 of ¥1.07 can be compared against companies in the Transportation 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 Transportation company?
A good E10 depends on the Transportation 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 Spring Airlines Co and its competitors. Spring Airlines Co's current E10 is ¥1.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spring Airlines Co stock overvalued right now?
Based on GuruFocus' analysis, Spring Airlines Co (SHSE:601021) is currently considered Significantly Undervalued. The stock's GF Value™ is ¥66.14, compared to a current price of ¥45.26 — trading 31.6% below its estimated fair value. The current E10 is ¥1.07. Spring Airlines Co's overall GF Score™ is 69/100 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 Spring Airlines Co (SHSE:601021), the current E10 is ¥1.07 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 Spring Airlines Co (SHSE:601021) Overvalued in 2026?

Based on GuruFocus' analysis, Spring Airlines Co stock appears to be undervalued. The current stock price of ¥45.26 is trading 31.6% below its estimated GF Value™ of ¥66.14. GuruFocus considers Spring Airlines Co to be Significantly Undervalued.

Key valuation signals for SHSE:601021:

  • E10: ¥1.07
  • GF Value™: ¥66.14 vs. price of ¥45.26 (31.6% below fair value)
  • GF Score™: 69/100 with 2 warning signs

No single metric tells the full story. See the SHSE:601021 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Spring Airlines Co Business Description

Address No. 2599, Hongqiao Road, Spring Airlines Headquarters Office Building, Changning District, Shanghai, CHN, 200335
Spring Airlines Co Ltd is a China-based airline company, principally engaged in the airline transportation of passengers and freight. The company focuses on providing passenger and cargo air transportation services across mainland China, international routes, as well as Hong Kong, Macao, and Taiwan, along with other activities connected to the air transport industry.
69GF Score

Get the complete analysis for SHSE:601021

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

¥45.26
Price
¥66.14
GF Value