Pasona Group (TSE:2168) E10: 円297.40 (As of May. 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.

TSE:2168 Pasona Group Inc TSE:2168
53 GF Score
Price 円1,725.00
GF Value 円1,910.68
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Pasona Group E10?

Pasona Group TSE:2168 +1.29% 53 E10 is 円297.40 as of May. 2026. GuruFocus rates TSE:2168 with a GF Score™ of 53/100 and a GF Value™ of 円1,910.68 (Modestly Undervalued). 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.

Pasona Group's adjusted earnings per share data for the three months ended in May. 2026 was 円-39.870. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円297.40 for the trailing ten years ended in May. 2026.

During the past 12 months, Pasona Group's average E10 Growth Rate was -1.70% per year. During the past 3 years, the average E10 Growth Rate was 62.10% per year. During the past 5 years, the average E10 Growth Rate was 66.90% 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 Pasona Group was 116.10% per year. The lowest was 47.20% per year. And the median was 64.15% per year.

As of today (2026-08-28), Pasona Group's current stock price is 円1725.00. Pasona Group's E10 for the quarter that ended in May. 2026 was 円297.40. Pasona Group's Shiller PE Ratio of today is 5.80.

During the past 13 years, the highest Shiller PE Ratio of Pasona Group was 330.78. The lowest was 4.69. And the median was 40.11.


Pasona Group  (TSE:2168) 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.

Pasona Group's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=1725.00/297.40
=5.80

* 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 Pasona Group was 330.78. The lowest was 4.69. And the median was 40.11.


Be Aware

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


Pasona Group E10 Related Terms


Pasona Group E10 Historical Data

* Premium members only.

The historical data trend for Pasona Group'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.

Pasona Group E10 Chart

Pasona Group Annual Data
Trend May17 May18 May19 May20 May21 May22 May23 May24 May25 May26
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 54.21 69.83 314.93 302.63 297.40

Pasona Group Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 302.63 302.85 305.81 300.10 297.40

TSE:2168 vs KFY, RHI, TNET: E10 Comparison

For the Staffing & Employment Services subindustry, Pasona Group'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.


Pasona Group Shiller PE Ratio vs Business Services Industry

For the Business Services industry and Industrials sector, Pasona Group's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Pasona Group's Shiller PE Ratio falls into.


TSE:2168
53GF Score
Pasona Group Inc TSE:2168
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pasona Group 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, Pasona Group's adjusted earnings per share data for the three months ended in May. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of May. 2026 (Change)*Current CPI (May. 2026)
=-39.87/113.5000*113.5000
=-39.870

Current CPI (May. 2026) = 113.5000.

Pasona Group Quarterly Data

per share eps CPI Adj_EPS
201608 -14.660 97.900 -16.996
201611 -7.528 98.600 -8.666
201702 -2.680 98.100 -3.101
201705 21.328 98.600 24.551
201708 14.480 98.500 16.685
201711 -1.712 99.100 -1.961
201802 -7.499 99.500 -8.554
201805 27.975 99.300 31.975
201808 -0.190 99.800 -0.216
201811 16.314 100.000 18.516
201902 7.313 99.700 8.325
201905 27.048 100.000 30.699
201908 1.190 100.000 1.351
201911 8.846 100.500 9.990
202002 4.465 100.300 5.053
202005 0.665 100.100 0.754
202008 103.910 100.100 117.820
202011 5.440 99.500 6.205
202102 33.330 99.800 37.905
202105 30.680 99.400 35.032
202108 63.410 99.700 72.187
202111 59.220 100.100 67.148
202202 64.220 100.700 72.383
202205 33.340 101.800 37.172
202208 32.990 102.700 36.459
202211 36.670 103.900 40.058
202302 30.890 104.000 33.712
202305 54.670 105.100 59.039
202308 4.580 105.900 4.909
202311 -1.300 106.900 -1.380
202402 -22.950 106.900 -24.367
202405 2,466.356 108.100 2,589.560
202408 -30.470 109.100 -31.699
202411 -65.540 110.000 -67.625
202502 -61.350 110.800 -62.845
202505 -64.440 111.800 -65.420
202508 -15.920 112.100 -16.119
202511 -0.460 113.200 -0.461
202602 -33.820 112.200 -34.212
202605 -39.870 113.500 -39.870

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 円297.40 mean?
Pasona Group (TSE:2168) has a E10 of 円297.40 as of May. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Pasona Group and its competitors.
Is Pasona Group's E10 too high?
Pasona Group's current E10 is 円297.40. Overall, Pasona Group has a GF Score™ of 53/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pasona Group's E10 compare to KFY and RHI?
Pasona Group's E10 of 円297.40 can be compared against companies in the Business Services 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 Business Services company?
A good E10 depends on the Business Services 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 Pasona Group and its competitors. Pasona Group's current E10 is 円297.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pasona Group stock overvalued right now?
Based on GuruFocus' analysis, Pasona Group (TSE:2168) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,910.68, compared to a current price of 円1,725.00 — trading 9.7% below its estimated fair value. The current E10 is 円297.40. Pasona Group's overall GF Score™ is 53/100 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 Pasona Group (TSE:2168), the current E10 is 円297.40 as of May. 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 Pasona Group (TSE:2168) Overvalued in 2026?

Based on GuruFocus' analysis, Pasona Group stock appears to be undervalued. The current stock price of 円1,725.00 is trading 9.7% below its estimated GF Value™ of 円1,910.68. GuruFocus considers Pasona Group to be Modestly Undervalued.

Key valuation signals for TSE:2168:

  • E10: 円297.40
  • GF Value™: 円1,910.68 vs. price of 円1,725.00 (9.7% below fair value)
  • GF Score™: 53/100 with 3 warning signs

No single metric tells the full story. See the TSE:2168 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Pasona Group Business Description

Address 1-5-1 Marunouchi, Chiyoda-ku, Tokyo, JPN, 100-8228
Pasona Group Inc provides human resource related support services. Its segments are BPO Solutions, Expert Solutions, Career Solutions, Global Solutions, Life Solutions, and Regional Revitalization and Tourism Solutions.
53GF Score

Get the complete analysis for TSE:2168

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

円1,725.00
Price
円1,910.68
GF Value