Forest Water Environmental Eng'g Co (TPE:8473) E10: NT$1.85 (As of Dec. 2025)


TPE:8473 Forest Water Environmental Eng'g Co Ltd TPE:8473
80 GF Score
Price NT$48.70
GF Value NT$41.92
Valuation Modestly Overvalued
! 3 Warning Signs
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What is Forest Water Environmental Eng'g Co E10?

Forest Water Environmental Eng'g Co TPE:8473 +1.25% 80 E10 is NT$1.85 as of Dec. 2025. GuruFocus rates TPE:8473 with a GF Score™ of 80/100 and a GF Value™ of NT$41.92 (Modestly Overvalued). 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.

Forest Water Environmental Eng'g Co's adjusted earnings per share data for the three months ended in Dec. 2025 was NT$0.480. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is NT$1.85 for the trailing ten years ended in Dec. 2025.

During the past 12 months, Forest Water Environmental Eng'g Co's average E10 Growth Rate was -4.10% 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.

As of today (2026-06-30), Forest Water Environmental Eng'g Co's current stock price is NT$48.70. Forest Water Environmental Eng'g Co's E10 for the quarter that ended in Dec. 2025 was NT$1.85. Forest Water Environmental Eng'g Co's Shiller PE Ratio of today is 26.32.

During the past 13 years, the highest Shiller PE Ratio of Forest Water Environmental Eng'g Co was 29.41. The lowest was 14.95. And the median was 19.68.


Forest Water Environmental Eng'g Co  (TPE:8473) 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.

Forest Water Environmental Eng'g Co's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=48.70/1.85
=26.32

* 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 Forest Water Environmental Eng'g Co was 29.41. The lowest was 14.95. And the median was 19.68.


Be Aware

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


Forest Water Environmental Eng'g Co E10 Related Terms


Forest Water Environmental Eng'g Co E10 Historical Data

* Premium members only.

The historical data trend for Forest Water Environmental Eng'g 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.

Forest Water Environmental Eng'g Co E10 Chart

Forest Water Environmental Eng'g 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 0.00 0.00 1.93 1.85

Forest Water Environmental Eng'g 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 1.93 1.93 1.90 1.87 1.85

TPE:8473 vs WM, RSG, WCN: E10 Comparison

For the Waste Management subindustry, Forest Water Environmental Eng'g 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.


Forest Water Environmental Eng'g Co Shiller PE Ratio vs Waste Management Industry

For the Waste Management industry and Industrials sector, Forest Water Environmental Eng'g Co's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Forest Water Environmental Eng'g Co's Shiller PE Ratio falls into.


TPE:8473
80GF Score
Forest Water Environmental Eng'g Co Ltd TPE:8473
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Forest Water Environmental Eng'g 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, Forest Water Environmental Eng'g 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)
=0.48/324.0540*324.0540
=0.480

Current CPI (Dec. 2025) = 324.0540.

Forest Water Environmental Eng'g Co Quarterly Data

per share eps CPI Adj_EPS
201603 1.013 238.132 1.379
201606 0.859 241.018 1.155
201609 0.787 241.428 1.056
201612 0.913 241.432 1.225
201703 0.968 243.801 1.287
201706 0.570 244.955 0.754
201709 0.570 246.819 0.748
201712 0.696 246.524 0.915
201803 0.734 249.554 0.953
201806 0.571 251.989 0.734
201809 0.652 252.439 0.837
201812 0.543 251.233 0.700
201903 0.290 254.202 0.370
201906 0.679 256.143 0.859
201909 0.462 256.759 0.583
201912 0.543 256.974 0.685
202003 0.806 258.115 1.012
202006 0.480 257.797 0.603
202009 0.184 260.280 0.229
202012 -0.484 260.474 -0.602
202103 0.930 264.877 1.138
202106 -0.184 271.696 -0.219
202109 0.378 274.310 0.447
202112 0.107 278.802 0.124
202203 0.514 287.504 0.579
202206 0.126 296.311 0.138
202209 -1.860 296.808 -2.031
202212 -0.669 296.797 -0.730
202303 -0.145 301.836 -0.156
202306 -0.078 305.109 -0.083
202309 0.233 307.789 0.245
202312 0.201 306.746 0.212
202403 0.680 312.332 0.706
202406 0.190 314.175 0.196
202409 -0.010 315.301 -0.010
202412 0.030 315.605 0.031
202503 0.890 319.799 0.902
202506 0.570 322.561 0.573
202509 0.520 324.800 0.519
202512 0.480 324.054 0.480

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$1.85 mean?
Forest Water Environmental Eng'g Co (TPE:8473) has a E10 of NT$1.85 as of Dec. 2025. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Forest Water Environmental Eng'g Co and its competitors.
Is Forest Water Environmental Eng'g Co's E10 too high?
Forest Water Environmental Eng'g Co's current E10 is NT$1.85. Overall, Forest Water Environmental Eng'g Co has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forest Water Environmental Eng'g Co's E10 compare to WM and RSG?
Forest Water Environmental Eng'g Co's E10 of NT$1.85 can be compared against companies in the Waste Management 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 Waste Management company?
A good E10 depends on the Waste Management 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 Forest Water Environmental Eng'g Co and its competitors. Forest Water Environmental Eng'g Co's current E10 is NT$1.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forest Water Environmental Eng'g Co stock overvalued right now?
Based on GuruFocus' analysis, Forest Water Environmental Eng'g Co (TPE:8473) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$41.92, compared to a current price of NT$48.70 — trading 16.2% above its estimated fair value. The current E10 is NT$1.85. Forest Water Environmental Eng'g Co's overall GF Score™ is 80/100 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 Forest Water Environmental Eng'g Co (TPE:8473), the current E10 is NT$1.85 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 Forest Water Environmental Eng'g Co (TPE:8473) Overvalued in 2026?

Based on GuruFocus' analysis, Forest Water Environmental Eng'g Co stock appears to be overvalued. The current stock price of NT$48.70 is trading 16.2% above its estimated GF Value™ of NT$41.92. GuruFocus considers Forest Water Environmental Eng'g Co to be Modestly Overvalued.

Key valuation signals for TPE:8473:

  • E10: NT$1.85
  • GF Value™: NT$41.92 vs. price of NT$48.70 (16.2% above fair value)
  • GF Score™: 80/100 with 3 warning signs

No single metric tells the full story. See the TPE:8473 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Forest Water Environmental Eng'g Co Business Description

Address Number 99 Jilin Road, 3rd Floor, Zhongshan District, Taipei, TWN
Forest Water Environmental Eng'g Co Ltd is engaged includes engineering projects for environmental protection, sewage treatment, waste treatment and recycling, and the recycling and decomposition of compostable food waste. It also provides the construction of a water purification plant, the construction of a sewage treatment plant in the scientific industrial park, and the construction of a sewage treatment plant.
80GF Score

Get the complete analysis for TPE:8473

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

NT$48.70
Price
NT$41.92
GF Value