Watahan (TSE:3199) E10: 円96.65 (As of Mar. 2026)

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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.
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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:3199 Watahan & Co Ltd TSE:3199
53 GF Score
Price 円1,324.00
GF Value 円1,718.50
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Watahan E10?

Watahan TSE:3199 +0.91% 53 E10 is 円96.65 as of Mar. 2026. GuruFocus rates TSE:3199 with a GF Score™ of 53/100 and a GF Value™ of 円1,718.50 (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.

Watahan's adjusted earnings per share data for the three months ended in Mar. 2026 was 円7.627. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円96.65 for the trailing ten years ended in Mar. 2026.

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.

As of today (2026-09-09), Watahan's current stock price is 円1324.00. Watahan's E10 for the quarter that ended in Mar. 2026 was 円96.65. Watahan's Shiller PE Ratio of today is 13.70.

During the past 13 years, the highest Shiller PE Ratio of Watahan was 17.37. The lowest was 13.45. And the median was 15.15.


Watahan  (TSE:3199) 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.

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

Shiller PE Ratio=Share Price/E10
=1324.00/96.65
=13.70

* 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 Watahan was 17.37. The lowest was 13.45. And the median was 15.15.


Be Aware

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


Watahan E10 Related Terms


Watahan E10 Historical Data

* Premium members only.

The historical data trend for Watahan'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.

Watahan E10 Chart

Watahan 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 0.00 0.00 0.00 0.00 96.65

Watahan Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Sep24 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 95.87 94.00 98.68 96.65 0.00

TSE:3199 vs HD, LOW, FND: E10 Comparison

For the Home Improvement Retail subindustry, Watahan'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.


Watahan Shiller PE Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Watahan's Shiller PE Ratio distribution charts can be found below:

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


TSE:3199
53GF Score
Watahan & Co Ltd TSE:3199
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Watahan 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, Watahan'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)
=7.627/112.7000*112.7000
=7.627

Current CPI (Mar. 2026) = 112.7000.

Watahan Quarterly Data

per share eps CPI Adj_EPS
201512 20.835 98.100 23.936
201603 12.060 97.900 13.883
201606 18.655 98.100 21.431
201609 4.288 98.000 4.931
201612 29.195 98.400 33.438
201703 16.026 98.100 18.411
201706 12.345 98.500 14.125
201709 17.615 98.800 20.093
201712 27.639 99.400 31.337
201803 17.630 99.200 20.029
201806 18.860 99.200 21.427
201809 14.675 99.900 16.555
201812 17.295 99.700 19.550
201903 30.939 99.700 34.973
201906 7.790 99.800 8.797
201909 20.125 100.100 22.658
201912 36.179 100.500 40.571
202003 12.800 100.300 14.382
202006 49.900 99.900 56.294
202009 28.168 99.900 31.777
202012 29.930 99.300 33.969
202103 -11.050 99.900 -12.466
202106 12.000 99.500 13.592
202109 28.705 100.100 32.318
202112 40.489 100.100 45.586
202203 29.830 101.100 33.253
202206 16.730 101.800 18.521
202209 18.649 103.100 20.385
202212 34.520 104.100 37.372
202303 13.210 104.400 14.260
202306 11.480 105.200 12.298
202309 26.993 106.200 28.645
202312 37.931 106.800 40.026
202403 16.640 107.200 17.494
202409 0.000 108.900 0.000
202503 0.000 111.100 0.000
202506 33.340 111.700 33.638
202509 25.270 112.000 25.428
202512 47.740 113.000 47.613
202603 7.627 112.700 7.627

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96.65 mean?
Watahan (TSE:3199) has a E10 of 円96.65 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Watahan and its competitors.
Is Watahan's E10 too high?
Watahan's current E10 is 円96.65. Overall, Watahan has a GF Score™ of 53/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Watahan's E10 compare to HD and LOW?
Watahan's E10 of 円96.65 can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?
A good E10 depends on the Retail - Cyclical 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 Watahan and its competitors. Watahan's current E10 is 円96.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Watahan stock overvalued right now?
Based on GuruFocus' analysis, Watahan (TSE:3199) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,718.50, compared to a current price of 円1,324.00 — trading 23% below its estimated fair value. The current E10 is 円96.65. Watahan'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 Watahan (TSE:3199), the current E10 is 円96.65 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 Watahan (TSE:3199) Overvalued in 2026?

Based on GuruFocus' analysis, Watahan stock appears to be undervalued. The current stock price of 円1,324.00 is trading 23% below its estimated GF Value™ of 円1,718.50. GuruFocus considers Watahan to be Modestly Undervalued.

Key valuation signals for TSE:3199:

  • E10: 円96.65
  • GF Value™: 円1,718.50 vs. price of 円1,324.00 (23% below fair value)
  • GF Score™: 53/100 with 3 warning signs

No single metric tells the full story. See the TSE:3199 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Watahan Business Description

Address 1023-1 Kitagata, Nagano Prefecture, Iida, JPN
Watahan & Co Ltd engages in the retail, construction, and trading businesses in Japan. The company operates home improvement supercenters. It is also involved in the construction design, operation, maintenance, and management activities; civil engineering operations; construction of landscaping and facades; sales and rental of construction materials, nursing care; operation of parking lots; and parked vehicle management activities. In addition, it provides consultancy services related to building construction, maintenance, management, and renovation activities; and manufactures and constructs steel buildings and bridge frames, as well as earthquake-resistant bridges.
53GF Score

Get the complete analysis for TSE:3199

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

円1,324.00
Price
円1,718.50
GF Value