Merida Industry Co (TPE:9914) E10: NT$8.57 (As of Mar. 2026)

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TPE:9914 Merida Industry Co Ltd TPE:9914
71 GF Score
Price NT$85.50
GF Value NT$130.90
Valuation Significantly Undervalued
! 6 Warning Signs
View Full Analysis

What is Merida Industry Co E10?

Merida Industry Co TPE:9914 -8.36% 71 E10 is NT$8.57 as of Mar. 2026. GuruFocus rates TPE:9914 with a GF Score™ of 71/100 and a GF Value™ of NT$130.90 (Significantly Undervalued). The stock has 6 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.

Merida Industry Co's adjusted earnings per share data for the three months ended in Mar. 2026 was NT$1.080. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is NT$8.57 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Merida Industry Co's average E10 Growth Rate was -6.70% per year. During the past 3 years, the average E10 Growth Rate was -8.20% per year. During the past 5 years, the average E10 Growth Rate was -1.30% 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 Merida Industry Co was 12.20% per year. The lowest was -8.20% per year. And the median was 6.80% per year.

As of today (2026-08-14), Merida Industry Co's current stock price is NT$85.50. Merida Industry Co's E10 for the quarter that ended in Mar. 2026 was NT$8.57. Merida Industry Co's Shiller PE Ratio of today is 9.98.

During the past 13 years, the highest Shiller PE Ratio of Merida Industry Co was 39.02. The lowest was 6.50. And the median was 20.05.


Merida Industry Co  (TPE:9914) 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.

Merida Industry Co's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=85.50/8.57
=9.98

* 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 Merida Industry Co was 39.02. The lowest was 6.50. And the median was 20.05.


Be Aware

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


Merida Industry Co E10 Related Terms


Merida Industry Co E10 Historical Data

* Premium members only.

The historical data trend for Merida Industry 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.

Merida Industry Co E10 Chart

Merida Industry 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 10.19 10.99 10.65 9.24 8.51

Merida Industry 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 9.19 9.14 8.90 8.51 8.57

TPE:9914 vs AS, HAS, LTH: E10 Comparison

For the Leisure subindustry, Merida Industry 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.


Merida Industry Co Shiller PE Ratio vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Merida Industry Co's Shiller PE Ratio distribution charts can be found below:

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


TPE:9914
71GF Score
Merida Industry Co Ltd TPE:9914
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Merida Industry 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, Merida Industry 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)
=1.08/330.2130*330.2130
=1.080

Current CPI (Mar. 2026) = 330.2130.

Merida Industry Co Quarterly Data

per share eps CPI Adj_EPS
201606 1.450 241.018 1.987
201609 1.670 241.428 2.284
201612 1.760 241.432 2.407
201703 1.010 243.801 1.368
201706 0.490 244.955 0.661
201709 1.350 246.819 1.806
201712 -0.180 246.524 -0.241
201803 0.020 249.554 0.026
201806 1.820 251.989 2.385
201809 2.220 252.439 2.904
201812 1.640 251.233 2.156
201903 1.600 254.202 2.078
201906 1.900 256.143 2.449
201909 2.880 256.759 3.704
201912 1.970 256.974 2.531
202003 1.570 258.115 2.009
202006 3.650 257.797 4.675
202009 4.480 260.280 5.684
202012 3.570 260.474 4.526
202103 3.850 264.877 4.800
202106 2.960 271.696 3.598
202109 4.060 274.310 4.887
202112 4.620 278.802 5.472
202203 4.010 287.504 4.606
202206 3.180 296.311 3.544
202209 3.080 296.808 3.427
202212 1.010 296.797 1.124
202303 1.880 301.836 2.057
202306 2.240 305.109 2.424
202309 2.530 307.789 2.714
202312 -1.010 306.746 -1.087
202403 1.390 312.332 1.470
202406 2.190 314.175 2.302
202409 2.300 315.301 2.409
202412 -8.230 315.605 -8.611
202503 1.400 319.799 1.446
202506 1.320 322.561 1.351
202509 2.080 324.800 2.115
202512 -0.800 324.054 -0.815
202603 1.080 330.213 1.080

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$8.57 mean?
Merida Industry Co (TPE:9914) has a E10 of NT$8.57 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Merida Industry Co and its competitors.
Is Merida Industry Co's E10 too high?
Merida Industry Co's current E10 is NT$8.57. Overall, Merida Industry Co has a GF Score™ of 71/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Merida Industry Co's E10 compare to AS and HAS?
Merida Industry Co's E10 of NT$8.57 can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good E10 depends on the Travel & Leisure 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 Merida Industry Co and its competitors. Merida Industry Co's current E10 is NT$8.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merida Industry Co stock overvalued right now?
Based on GuruFocus' analysis, Merida Industry Co (TPE:9914) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$130.90, compared to a current price of NT$85.50 — trading 34.7% below its estimated fair value. The current E10 is NT$8.57. Merida Industry Co's overall GF Score™ is 71/100 with 6 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 Merida Industry Co (TPE:9914), the current E10 is NT$8.57 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 Merida Industry Co (TPE:9914) Overvalued in 2026?

Based on GuruFocus' analysis, Merida Industry Co stock appears to be undervalued. The current stock price of NT$85.50 is trading 34.7% below its estimated GF Value™ of NT$130.90. GuruFocus considers Merida Industry Co to be Significantly Undervalued.

Key valuation signals for TPE:9914:

  • E10: NT$8.57
  • GF Value™: NT$130.90 vs. price of NT$85.50 (34.7% below fair value)
  • GF Score™: 71/100 with 6 warning signs

No single metric tells the full story. See the TPE:9914 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Merida Industry Co Business Description

Address No. 116, Meigang Road, Dacun Township, Changhua County, Yuanlin, TWN
Merida Industry Co Ltd is a manufacturer and distributor of bicycles and bicycle-related components, domiciled in Taiwan. The company produces bicycles for both recreational and professional use. Products include mountain bicycles, road and racing bicycles, bicycle motocross, or BMX, folding bicycles, children and youth bicycles, electric bicycles, helmets, components, and related parts and accessories. It distributes bicycles and components both domestically and internationally, and products are largely sold under the Merida brand name.
71GF Score

Get the complete analysis for TPE:9914

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

NT$85.50
Price
NT$130.90
GF Value