Taiwan Cogeneration (TPE:8926) E10: NT$1.84 (As of Dec. 2025)


TPE:8926 Taiwan Cogeneration Corp TPE:8926
75 GF Score
Price NT$76.20
GF Value NT$43.28
Valuation Significantly Overvalued
! 12 Warning Signs
View Full Analysis

What is Taiwan Cogeneration E10?

Taiwan Cogeneration TPE:8926 -2.43% 75 E10 is NT$1.84 as of Dec. 2025. GuruFocus rates TPE:8926 with a GF Score™ of 75/100 and a GF Value™ of NT$43.28 (Significantly Overvalued). The stock has 12 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.

Taiwan Cogeneration's adjusted earnings per share data for the three months ended in Dec. 2025 was NT$0.563. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is NT$1.84 for the trailing ten years ended in Dec. 2025.

During the past 12 months, Taiwan Cogeneration's average E10 Growth Rate was 4.00% per year. During the past 3 years, the average E10 Growth Rate was 1.10% per year. During the past 5 years, the average E10 Growth Rate was 2.60% 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 Taiwan Cogeneration was 5.30% per year. The lowest was 1.10% per year. And the median was 2.50% per year.

As of today (2026-06-29), Taiwan Cogeneration's current stock price is NT$76.20. Taiwan Cogeneration's E10 for the quarter that ended in Dec. 2025 was NT$1.84. Taiwan Cogeneration's Shiller PE Ratio of today is 41.41.

During the past 13 years, the highest Shiller PE Ratio of Taiwan Cogeneration was 42.93. The lowest was 14.10. And the median was 20.47.


Taiwan Cogeneration  (TPE:8926) 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.

Taiwan Cogeneration's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=76.20/1.84
=41.41

* 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 Taiwan Cogeneration was 42.93. The lowest was 14.10. And the median was 20.47.


Be Aware

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


Taiwan Cogeneration E10 Related Terms


Taiwan Cogeneration E10 Historical Data

* Premium members only.

The historical data trend for Taiwan Cogeneration'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.

Taiwan Cogeneration E10 Chart

Taiwan Cogeneration 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 1.67 1.78 1.88 1.77 1.84

Taiwan Cogeneration 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 1.77 1.79 1.86 1.82 1.84

TPE:8926 vs PWR, FIX, EME: E10 Comparison

For the Engineering & Construction subindustry, Taiwan Cogeneration'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.


Taiwan Cogeneration Shiller PE Ratio vs Construction Industry

For the Construction industry and Industrials sector, Taiwan Cogeneration's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Taiwan Cogeneration's Shiller PE Ratio falls into.


TPE:8926
75GF Score
Taiwan Cogeneration Corp TPE:8926
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Taiwan Cogeneration 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, Taiwan Cogeneration'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)
=0.563/324.0540*324.0540
=0.563

Current CPI (Dec. 2025) = 324.0540.

Taiwan Cogeneration Quarterly Data

per share eps CPI Adj_EPS
201603 0.279 238.132 0.380
201606 0.323 241.018 0.434
201609 0.392 241.428 0.526
201612 0.410 241.432 0.550
201703 0.122 243.801 0.162
201706 0.515 244.955 0.681
201709 0.663 246.819 0.870
201712 0.140 246.524 0.184
201803 0.131 249.554 0.170
201806 0.515 251.989 0.662
201809 0.584 252.439 0.750
201812 -0.235 251.233 -0.303
201903 0.410 254.202 0.523
201906 0.611 256.143 0.773
201909 0.340 256.759 0.429
201912 0.262 256.974 0.330
202003 0.611 258.115 0.767
202006 0.384 257.797 0.483
202009 0.349 260.280 0.435
202012 0.235 260.474 0.292
202103 0.445 264.877 0.544
202106 0.366 271.696 0.437
202109 0.218 274.310 0.258
202112 0.305 278.802 0.355
202203 0.419 287.504 0.472
202206 -0.238 296.311 -0.260
202209 0.291 296.808 0.318
202212 0.922 296.797 1.007
202303 1.039 301.836 1.115
202306 0.417 305.109 0.443
202309 0.136 307.789 0.143
202312 0.233 306.746 0.246
202403 0.408 312.332 0.423
202406 0.544 314.175 0.561
202409 0.330 315.301 0.339
202412 0.505 315.605 0.519
202503 0.466 319.799 0.472
202506 1.155 322.561 1.160
202509 0.184 324.800 0.184
202512 0.563 324.054 0.563

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$1.84 mean?
Taiwan Cogeneration (TPE:8926) has a E10 of NT$1.84 as of Dec. 2025. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Taiwan Cogeneration and its competitors.
Is Taiwan Cogeneration's E10 too high?
Taiwan Cogeneration's current E10 is NT$1.84. Overall, Taiwan Cogeneration has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Taiwan Cogeneration's E10 compare to PWR and FIX?
Taiwan Cogeneration's E10 of NT$1.84 can be compared against companies in the Construction 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 Construction company?
A good E10 depends on the Construction 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 Taiwan Cogeneration and its competitors. Taiwan Cogeneration's current E10 is NT$1.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Taiwan Cogeneration stock overvalued right now?
Based on GuruFocus' analysis, Taiwan Cogeneration (TPE:8926) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$43.28, compared to a current price of NT$76.20 — trading 76.1% above its estimated fair value. The current E10 is NT$1.84. Taiwan Cogeneration's overall GF Score™ is 75/100 with 12 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 Taiwan Cogeneration (TPE:8926), the current E10 is NT$1.84 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 Taiwan Cogeneration (TPE:8926) Overvalued in 2026?

Based on GuruFocus' analysis, Taiwan Cogeneration stock appears to be overvalued. The current stock price of NT$76.20 is trading 76.1% above its estimated GF Value™ of NT$43.28. GuruFocus considers Taiwan Cogeneration to be Significantly Overvalued.

Key valuation signals for TPE:8926:

  • E10: NT$1.84
  • GF Value™: NT$43.28 vs. price of NT$76.20 (76.1% above fair value)
  • GF Score™: 75/100 with 12 warning signs

No single metric tells the full story. See the TPE:8926 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Taiwan Cogeneration Business Description

Address No. 392, Ruiguang Road, 6th Floor, Neihu District, Taipei, TWN, 11492
Taiwan Cogeneration Corp is engaged in engineering, planning, design, procurement, installation, construction and financial planning of cogeneration systems, environmental protection and fuel procurement for cogeneration systems and related businesses. The Corporation also operates and manages cogeneration plants, provides research and development, technical and consultation services related to cogeneration, and manufactures, assembles, sells, leases, installs and repairs cogeneration equipment. In addition, it invests in cogeneration plants, trades related equipment, engages in power generation businesses other than utility, and performs electric equipment installation. Its revenues are generated from sales from cogeneration plants and revenue from consulting and construction services.
75GF Score

Get the complete analysis for TPE:8926

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

NT$76.20
Price
NT$43.28
GF Value