Yamazaki Baking Co (TSE:2212) E10: 円115.52 (As of Jun. 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:2212 Yamazaki Baking Co Ltd TSE:2212
82 GF Score
Price 円3,789.00
GF Value 円3,470.33
Valuation Fairly Valued
! 3 Warning Signs
View Full Analysis

What is Yamazaki Baking Co E10?

Yamazaki Baking Co TSE:2212 -0.42% 82 E10 is 円115.52 as of Jun. 2026. GuruFocus rates TSE:2212 with a GF Score™ of 82/100 and a GF Value™ of 円3,470.33 (Fairly Valued). 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.

Yamazaki Baking Co's adjusted earnings per share data for the three months ended in Jun. 2026 was 円62.280. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円115.52 for the trailing ten years ended in Jun. 2026.

During the past 12 months, Yamazaki Baking Co's average E10 Growth Rate was 14.30% per year. During the past 3 years, the average E10 Growth Rate was 18.10% per year. During the past 5 years, the average E10 Growth Rate was 12.60% 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 Yamazaki Baking Co was 18.10% per year. The lowest was -0.30% per year. And the median was 4.10% per year.

As of today (2026-09-04), Yamazaki Baking Co's current stock price is 円3789.00. Yamazaki Baking Co's E10 for the quarter that ended in Jun. 2026 was 円115.52. Yamazaki Baking Co's Shiller PE Ratio of today is 32.80.

During the past 13 years, the highest Shiller PE Ratio of Yamazaki Baking Co was 53.43. The lowest was 22.67. And the median was 30.68.


Yamazaki Baking Co  (TSE:2212) 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.

Yamazaki Baking Co's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=3789.00/115.52
=32.80

* 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 Yamazaki Baking Co was 53.43. The lowest was 22.67. And the median was 30.68.


Be Aware

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


Yamazaki Baking Co E10 Related Terms


Yamazaki Baking Co E10 Historical Data

* Premium members only.

The historical data trend for Yamazaki Baking 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.

Yamazaki Baking Co E10 Chart

Yamazaki Baking 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 62.15 65.24 75.88 90.64 107.59

Yamazaki Baking Co Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 101.04 103.42 107.59 111.39 115.52

TSE:2212 vs KHC, GIS: E10 Comparison

For the Packaged Foods subindustry, Yamazaki Baking 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.


Yamazaki Baking Co Shiller PE Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Yamazaki Baking Co's Shiller PE Ratio distribution charts can be found below:

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


TSE:2212
82GF Score
Yamazaki Baking Co Ltd TSE:2212
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Yamazaki Baking 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, Yamazaki Baking Co's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=62.28/113.6000*113.6000
=62.280

Current CPI (Jun. 2026) = 113.6000.

Yamazaki Baking Co Quarterly Data

per share eps CPI Adj_EPS
201609 14.290 98.000 16.565
201612 25.700 98.400 29.670
201703 21.250 98.100 24.608
201706 26.618 98.500 30.699
201709 13.450 98.800 15.465
201712 53.090 99.400 60.674
201803 17.170 99.200 19.662
201806 22.800 99.200 26.110
201809 7.576 99.900 8.615
201812 14.605 99.700 16.641
201903 13.250 99.700 15.097
201906 22.850 99.800 26.010
201909 8.354 100.100 9.481
201912 19.290 100.500 21.804
202003 13.610 100.300 15.415
202006 8.929 99.900 10.153
202009 -2.760 99.900 -3.138
202012 12.218 99.300 13.977
202103 14.210 99.900 16.159
202106 19.590 99.500 22.366
202109 2.692 100.100 3.055
202112 12.060 100.100 13.686
202203 18.600 101.100 20.900
202206 24.400 101.800 27.228
202209 4.424 103.100 4.875
202212 11.609 104.100 12.668
202303 26.450 104.400 28.781
202306 41.540 105.200 44.857
202309 23.369 106.200 24.997
202312 54.810 106.800 58.300
202403 53.580 107.200 56.779
202406 52.390 108.200 55.005
202409 26.400 108.900 27.539
202412 46.210 110.700 47.421
202503 55.390 111.100 56.636
202506 60.720 111.700 61.753
202509 34.150 112.000 34.638
202512 56.520 113.000 56.820
202603 60.490 112.700 60.973
202606 62.280 113.600 62.280

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115.52 mean?
Yamazaki Baking Co (TSE:2212) has a E10 of 円115.52 as of Jun. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Yamazaki Baking Co and its competitors.
Is Yamazaki Baking Co's E10 too high?
Yamazaki Baking Co's current E10 is 円115.52. Overall, Yamazaki Baking Co has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Yamazaki Baking Co's E10 compare to KHC and GIS?
Yamazaki Baking Co's E10 of 円115.52 can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good E10 depends on the Consumer Packaged Goods 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 Yamazaki Baking Co and its competitors. Yamazaki Baking Co's current E10 is 円115.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Yamazaki Baking Co stock overvalued right now?
Based on GuruFocus' analysis, Yamazaki Baking Co (TSE:2212) is currently considered Fairly Valued. The stock's GF Value™ is 円3,470.33, compared to a current price of 円3,789.00 — trading 9.2% above its estimated fair value. The current E10 is 円115.52. Yamazaki Baking Co's overall GF Score™ is 82/100 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 Yamazaki Baking Co (TSE:2212), the current E10 is 円115.52 as of Jun. 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 Yamazaki Baking Co (TSE:2212) Overvalued in 2026?

Based on GuruFocus' analysis, Yamazaki Baking Co stock appears to be overvalued. The current stock price of 円3,789.00 is trading 9.2% above its estimated GF Value™ of 円3,470.33. GuruFocus considers Yamazaki Baking Co to be Fairly Valued.

Key valuation signals for TSE:2212:

  • E10: 円115.52
  • GF Value™: 円3,470.33 vs. price of 円3,789.00 (9.2% above fair value)
  • GF Score™: 82/100 with 3 warning signs

No single metric tells the full story. See the TSE:2212 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Yamazaki Baking Co Business Description

Address 3-10-1 Iwamotocho, Chiyoda-ku, Tokyo, JPN, 101-8585
Yamazaki Baking Co Ltd is a Japan-based company specializing in the production of baked goods, including bread, pastries, and cakes. The company operates through Food, Distribution, and Other segments. The Food segment produces bread, confectionery, and bakery products, selling to retailers and running bakery cafes in Japan and abroad. The Distribution segment manages convenience stores and food supermarkets. The Others segment handles logistics, food plant design and construction, non-life insurance agency services, and the production of cleaning agents for baking equipment. It generates the majority of its revenue from the Food business segment.
82GF Score

Get the complete analysis for TSE:2212

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

円3,789.00
Price
円3,470.33
GF Value