Hangzhou First Applied Material Co (SHSE:603806) E10: ¥0.52 (As of Jun. 2026)

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.

SHSE:603806 Hangzhou First Applied Material Co Ltd SHSE:603806
87 GF Score
Price ¥15.45
GF Value ¥12.30
Valuation Modestly Overvalued
! 5 Warning Signs
View Full Analysis

What is Hangzhou First Applied Material Co E10?

Hangzhou First Applied Material Co SHSE:603806 -0.90% 87 E10 is ¥0.52 as of Jun. 2026. GuruFocus rates SHSE:603806 with a GF Score™ of 87/100 and a GF Value™ of ¥12.30 (Modestly Overvalued). The stock has 5 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.

Hangzhou First Applied Material Co's adjusted earnings per share data for the three months ended in Jun. 2026 was ¥0.191. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ¥0.52 for the trailing ten years ended in Jun. 2026.

During the past 12 months, Hangzhou First Applied Material Co's average E10 Growth Rate was 2.00% per year. During the past 3 years, the average E10 Growth Rate was 4.30% 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 Hangzhou First Applied Material Co was 4.30% per year. The lowest was 4.30% per year. And the median was 4.30% per year.

As of today (2026-08-23), Hangzhou First Applied Material Co's current stock price is ¥15.45. Hangzhou First Applied Material Co's E10 for the quarter that ended in Jun. 2026 was ¥0.52. Hangzhou First Applied Material Co's Shiller PE Ratio of today is 29.71.

During the past 13 years, the highest Shiller PE Ratio of Hangzhou First Applied Material Co was 84.81. The lowest was 23.06. And the median was 34.55.


Hangzhou First Applied Material Co  (SHSE:603806) 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.

Hangzhou First Applied Material Co's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=15.45/0.52
=29.71

* 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 Hangzhou First Applied Material Co was 84.81. The lowest was 23.06. And the median was 34.55.


Be Aware

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


Hangzhou First Applied Material Co E10 Related Terms


Hangzhou First Applied Material Co E10 Historical Data

* Premium members only.

The historical data trend for Hangzhou First Applied Material 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.

Hangzhou First Applied Material Co E10 Chart

Hangzhou First Applied Material 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 0.45 0.48 0.51 0.51

Hangzhou First Applied Material Co Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 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 0.51 0.51 0.51 0.51 0.52

SHSE:603806 vs AMAT, LRCX, KLAC: E10 Comparison

For the Semiconductor Equipment & Materials subindustry, Hangzhou First Applied Material 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.


Hangzhou First Applied Material Co Shiller PE Ratio vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Hangzhou First Applied Material Co's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Hangzhou First Applied Material Co's Shiller PE Ratio falls into.


SHSE:603806
87GF Score
Hangzhou First Applied Material Co Ltd SHSE:603806
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Hangzhou First Applied Material 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, Hangzhou First Applied Material Co's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0.191/116.0564*116.0564
=0.191

Current CPI (Jun. 2026) = 116.0564.

Hangzhou First Applied Material Co Quarterly Data

per share eps CPI Adj_EPS
201609 0.071 102.400 0.080
201612 0.098 102.600 0.111
201703 0.042 103.200 0.047
201706 0.062 103.100 0.070
201709 0.050 104.100 0.056
201712 0.089 104.500 0.099
201803 0.042 105.300 0.046
201806 0.051 104.900 0.056
201809 0.050 106.600 0.054
201812 0.169 106.500 0.184
201903 0.090 107.700 0.097
201906 0.076 107.700 0.082
201909 0.082 109.800 0.087
201912 0.149 111.200 0.156
202003 0.064 112.300 0.066
202006 0.126 110.400 0.132
202009 0.161 111.700 0.167
202012 0.281 111.500 0.292
202103 0.197 112.662 0.203
202106 0.160 111.769 0.166
202109 0.168 112.215 0.174
202112 0.332 113.108 0.341
202203 0.128 114.335 0.130
202206 0.280 114.558 0.284
202209 0.179 115.339 0.180
202212 0.021 115.116 0.021
202303 0.143 115.116 0.144
202306 0.187 114.558 0.189
202309 0.210 115.339 0.211
202312 0.160 114.781 0.162
202403 0.198 115.227 0.199
202406 0.152 114.781 0.154
202409 0.120 115.785 0.120
202412 0.020 114.893 0.020
202503 0.147 115.116 0.148
202506 0.033 114.907 0.033
202509 0.070 115.471 0.070
202512 0.030 115.832 0.030
202603 0.119 116.303 0.119
202606 0.191 116.056 0.191

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 ¥0.52 mean?
Hangzhou First Applied Material Co (SHSE:603806) has a E10 of ¥0.52 as of Jun. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Hangzhou First Applied Material Co and its competitors.
Is Hangzhou First Applied Material Co's E10 too high?
Hangzhou First Applied Material Co's current E10 is ¥0.52. Overall, Hangzhou First Applied Material Co has a GF Score™ of 87/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hangzhou First Applied Material Co's E10 compare to AMAT and LRCX?
Hangzhou First Applied Material Co's E10 of ¥0.52 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 Hangzhou First Applied Material Co and its competitors. Hangzhou First Applied Material Co's current E10 is ¥0.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hangzhou First Applied Material Co stock overvalued right now?
Based on GuruFocus' analysis, Hangzhou First Applied Material Co (SHSE:603806) is currently considered Modestly Overvalued. The stock's GF Value™ is ¥12.30, compared to a current price of ¥15.45 — trading 25.6% above its estimated fair value. The current E10 is ¥0.52. Hangzhou First Applied Material Co's overall GF Score™ is 87/100 with 5 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 Hangzhou First Applied Material Co (SHSE:603806), the current E10 is ¥0.52 as of Jun. 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 Hangzhou First Applied Material Co (SHSE:603806) Overvalued in 2026?

Based on GuruFocus' analysis, Hangzhou First Applied Material Co stock appears to be overvalued. The current stock price of ¥15.45 is trading 25.6% above its estimated GF Value™ of ¥12.30. GuruFocus considers Hangzhou First Applied Material Co to be Modestly Overvalued.

Key valuation signals for SHSE:603806:

  • E10: ¥0.52
  • GF Value™: ¥12.30 vs. price of ¥15.45 (25.6% above fair value)
  • GF Score™: 87/100 with 5 warning signs

No single metric tells the full story. See the SHSE:603806 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hangzhou First Applied Material Co Business Description

Address No. 8, Foster Street, Jinbei Street, Lin\'an District, Zhejiang Province, Hangzhou, CHN, 311300
Hangzhou First Applied Material Co Ltd is a China-based company engaged in the production of solar cell adhesive film, solar cell backplane, photosensitive dry film, flexible copper clad laminate, silicone material, hot melt adhesive film (hot melt adhesive), hot melt web film (double-sided adhesive), clothing accessories (lining cloth); sales of solar cell modules, cells, polysilicon, polymer materials, and chemical raw materials and products.
87GF Score

Get the complete analysis for SHSE:603806

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

¥15.45
Price
¥12.30
GF Value