CALBEE (TSE:2229) E10: 円152.88 (As of Mar. 2026)


TSE:2229 CALBEE Inc TSE:2229
91 GF Score
Price 円2,961.50
GF Value 円3,350.03
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is CALBEE E10?

CALBEE TSE:2229 +2.21% 91 E10 is 円152.88 as of Mar. 2026. GuruFocus rates TSE:2229 with a GF Score™ of 91/100 and a GF Value™ of 円3,350.03 (Modestly Undervalued). The stock has 4 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.

CALBEE's adjusted earnings per share data for the three months ended in Mar. 2026 was 円30.590. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円152.88 for the trailing ten years ended in Mar. 2026.

During the past 12 months, CALBEE's average E10 Growth Rate was 1.20% per year. During the past 3 years, the average E10 Growth Rate was 5.10% per year. During the past 5 years, the average E10 Growth Rate was 6.20% 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 CALBEE was 7.20% per year. The lowest was 5.10% per year. And the median was 6.80% per year.

As of today (2026-06-30), CALBEE's current stock price is 円2961.50. CALBEE's E10 for the quarter that ended in Mar. 2026 was 円152.88. CALBEE's Shiller PE Ratio of today is 19.37.

During the past 13 years, the highest Shiller PE Ratio of CALBEE was 31.80. The lowest was 17.34. And the median was 21.74.


CALBEE  (TSE:2229) 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.

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

Shiller PE Ratio=Share Price/E10
=2961.50/152.88
=19.37

* 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 CALBEE was 31.80. The lowest was 17.34. And the median was 21.74.


Be Aware

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


CALBEE E10 Related Terms


CALBEE E10 Historical Data

* Premium members only.

The historical data trend for CALBEE'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.

CALBEE E10 Chart

CALBEE Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 123.90 131.66 141.01 151.11 152.88

CALBEE 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 151.11 151.81 151.26 153.16 152.88

TSE:2229 vs KHC, GIS: E10 Comparison

For the Packaged Foods subindustry, CALBEE'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.


CALBEE Shiller PE Ratio vs Consumer Packaged Goods Industry

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

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


TSE:2229
91GF Score
CALBEE Inc TSE:2229
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CALBEE 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, CALBEE'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)
=30.59/112.7000*112.7000
=30.590

Current CPI (Mar. 2026) = 112.7000.

CALBEE Quarterly Data

per share eps CPI Adj_EPS
201606 28.650 98.100 32.914
201609 31.070 98.000 35.731
201612 48.070 98.400 55.056
201703 31.380 98.100 36.050
201706 17.100 98.500 19.565
201709 35.560 98.800 40.563
201712 45.020 99.400 51.044
201803 31.920 99.200 36.264
201806 31.520 99.200 35.810
201809 40.510 99.900 45.700
201812 40.320 99.700 45.577
201903 32.990 99.700 37.292
201906 31.750 99.800 35.854
201909 34.230 100.100 38.539
201912 43.840 100.500 49.162
202003 21.390 100.300 24.034
202006 30.300 99.900 34.182
202009 31.217 99.900 35.217
202012 43.576 99.300 49.456
202103 27.190 99.900 30.674
202106 37.070 99.500 41.988
202109 31.610 100.100 35.589
202112 41.550 100.100 46.780
202203 25.960 101.100 28.939
202206 35.260 101.800 39.035
202209 29.104 103.100 31.814
202212 32.820 104.100 35.531
202303 17.939 104.400 19.365
202306 50.050 105.200 53.618
202309 36.918 106.200 39.178
202312 50.457 106.800 53.244
202403 21.789 107.200 22.907
202406 56.630 108.200 58.985
202409 28.500 108.900 29.494
202412 61.790 110.700 62.906
202503 20.190 111.100 20.481
202506 28.380 111.700 28.634
202509 25.950 112.000 26.112
202512 55.060 113.000 54.914
202603 30.590 112.700 30.590

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152.88 mean?
CALBEE (TSE:2229) has a E10 of 円152.88 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on CALBEE and its competitors.
Is CALBEE's E10 too high?
CALBEE's current E10 is 円152.88. Overall, CALBEE has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CALBEE's E10 compare to KHC and GIS?
CALBEE's E10 of 円152.88 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 CALBEE and its competitors. CALBEE's current E10 is 円152.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CALBEE stock overvalued right now?
Based on GuruFocus' analysis, CALBEE (TSE:2229) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,350.03, compared to a current price of 円2,961.50 — trading 11.6% below its estimated fair value. The current E10 is 円152.88. CALBEE's overall GF Score™ is 91/100 with 4 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 CALBEE (TSE:2229), the current E10 is 円152.88 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 CALBEE (TSE:2229) Overvalued in 2026?

Based on GuruFocus' analysis, CALBEE stock appears to be undervalued. The current stock price of 円2,961.50 is trading 11.6% below its estimated GF Value™ of 円3,350.03. GuruFocus considers CALBEE to be Modestly Undervalued.

Key valuation signals for TSE:2229:

  • E10: 円152.88
  • GF Value™: 円3,350.03 vs. price of 円2,961.50 (11.6% below fair value)
  • GF Score™: 91/100 with 4 warning signs

No single metric tells the full story. See the TSE:2229 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CALBEE Business Description

Other Exchanges CLBEY:USA9CB:Germany
Address 1-8-3 Marunouchi, 22nd Floor, Marunouchi Trust Tower Main Building, Chiyoda-ku, Tokyo, JPN, 100-0005
Calbee Inc is engaged in the manufacture and sale of food products. The company operates a single reportable segment, the food manufacturing and sales business, which includes the production and distribution of snacks, cereals, and other related food items. It conducts business activities in Japan and overseas.
91GF Score

Get the complete analysis for TSE:2229

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

円2,961.50
Price
円3,350.03
GF Value