Varsav Game Studios (STU:2QW) E10: €-0.02 (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.

STU:2QW Varsav Game Studios SA STU:2QW
56 GF Score
Price €0.10
GF Value €0.15
! 5 Warning Signs
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What is Varsav Game Studios E10?

Varsav Game Studios STU:2QW 56 E10 is €-0.02 as of Mar. 2026. GuruFocus rates STU:2QW with a GF Score™ of 56/100 and a GF Value™ of €0.15. 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.

Varsav Game Studios's adjusted earnings per share data for the three months ended in Mar. 2026 was €0.002. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is €-0.02 for the trailing ten years ended in Mar. 2026.

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.

As of today (2026-07-14), Varsav Game Studios's current stock price is €0.095. Varsav Game Studios's E10 for the quarter that ended in Mar. 2026 was €-0.02. Varsav Game Studios's Shiller PE Ratio of today is .


Varsav Game Studios  (STU:2QW) 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.


Varsav Game Studios E10 Related Terms


Varsav Game Studios E10 Historical Data

* Premium members only.

The historical data trend for Varsav Game Studios'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.

Varsav Game Studios E10 Chart

Varsav Game Studios 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 -0.01 -0.01 -0.01 -0.01 -0.01

Varsav Game Studios 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 -0.01 -0.01 -0.01 -0.01 -0.02

STU:2QW vs NTES, EA, TTWO: E10 Comparison

For the Electronic Gaming & Multimedia subindustry, Varsav Game Studios'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.


Varsav Game Studios Shiller PE Ratio vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Varsav Game Studios's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Varsav Game Studios's Shiller PE Ratio falls into.


STU:2QW
56GF Score
Varsav Game Studios SA STU:2QW
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Varsav Game Studios 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, Varsav Game Studios'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)
=0.002/163.0700*163.0700
=0.002

Current CPI (Mar. 2026) = 163.0700.

Varsav Game Studios Quarterly Data

per share eps CPI Adj_EPS
201606 -0.004 99.552 -0.007
201609 -0.001 99.064 -0.002
201612 -0.004 100.366 -0.006
201703 0.006 101.018 0.010
201706 -0.006 101.180 -0.010
201709 -0.005 101.343 -0.008
201712 -0.014 102.564 -0.022
201803 -0.002 102.564 -0.003
201806 -0.004 103.378 -0.006
201809 -0.013 103.378 -0.021
201812 -0.017 103.785 -0.027
201903 0.002 104.274 0.003
201906 -0.002 105.983 -0.003
201909 -0.021 105.983 -0.032
201912 0.047 107.123 0.072
202003 -0.004 109.076 -0.006
202006 0.001 109.402 0.001
202009 0.028 109.320 0.042
202012 -0.005 109.565 -0.007
202103 -0.004 112.658 -0.006
202106 0.008 113.960 0.011
202109 0.001 115.588 0.001
202112 -0.026 119.088 -0.036
202203 -0.014 125.031 -0.018
202206 -0.012 131.705 -0.015
202209 0.002 135.531 0.002
202212 -0.004 139.113 -0.005
202303 -0.003 145.950 -0.003
202306 0.005 147.009 0.006
202309 -0.002 146.113 -0.002
202312 -0.062 147.741 -0.068
202403 0.003 149.044 0.003
202406 -0.002 150.997 -0.002
202409 0.008 153.439 0.009
202412 -0.003 154.660 -0.003
202503 -0.005 157.021 -0.005
202506 0.005 157.509 0.005
202509 0.000 158.000 0.000
202512 0.005 158.320 0.005
202603 0.002 163.070 0.002

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 €-0.02 mean?
Varsav Game Studios (STU:2QW) has a E10 of €-0.02 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Varsav Game Studios and its competitors.
Is Varsav Game Studios' E10 too high?
Varsav Game Studios' current E10 is €-0.02. Overall, Varsav Game Studios has a GF Score™ of 56/100, reflecting its overall financial health beyond just this single metric.
How does Varsav Game Studios' E10 compare to NTES and EA?
Varsav Game Studios' E10 of €-0.02 can be compared against companies in the Interactive Media 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 an Interactive Media company?
A good E10 depends on the Interactive Media 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 Varsav Game Studios and its competitors. Varsav Game Studios's current E10 is €-0.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Varsav Game Studios stock overvalued right now?
Varsav Game Studios (STU:2QW) has a current E10 of €-0.02. The stock's GF Value™ is €0.15, compared to a current price of €0.10 — trading 36.7% below its estimated fair value. The current E10 is €-0.02. Varsav Game Studios' overall GF Score™ is 56/100 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 Varsav Game Studios (STU:2QW), the current E10 is €-0.02 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 Varsav Game Studios (STU:2QW) Overvalued in 2026?

Based on GuruFocus' analysis, Varsav Game Studios stock appears to be undervalued. The current stock price of €0.10 is trading 36.7% below its estimated GF Value™ of €0.15.

Key valuation signals for STU:2QW:

  • E10: €-0.02
  • GF Value™: €0.15 vs. price of €0.10 (36.7% below fair value)
  • GF Score™: 56/100 with 5 warning signs

No single metric tells the full story. See the STU:2QW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Varsav Game Studios Business Description

Other Exchanges VAR:Poland
Address Aleje Jerozolimskie 123A, Warsaw, POL, 02-017
Varsav Game Studios SA is a Poland-based company. It is mainly engaged in the production of PC and mobile games and applications. The company offers various services to the gaming industry, including portfolio building and providing technological and financial support. Games developed by the company include Bee Simulator, AR Kicker, Crowd Dragons, Metamorphosis, and Interkosmos.
56GF Score

Get the complete analysis for STU:2QW

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

€0.10
Price
€0.15
GF Value