TSI Holdings Co (TSE:3608) E10: 円54.55 (As of Feb. 2026)

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TSE:3608 TSI Holdings Co Ltd TSE:3608
81 GF Score
Price 円1,239.00
GF Value 円1,370.18
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is TSI Holdings Co E10?

TSI Holdings Co TSE:3608 +0.73% 81 E10 is 円54.55 as of Feb. 2026. GuruFocus rates TSE:3608 with a GF Score™ of 81/100 and a GF Value™ of 円1,370.18 (Modestly Undervalued). The stock has 2 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.

TSI Holdings Co's adjusted earnings per share data for the three months ended in Feb. 2026 was 円8.737. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円54.55 for the trailing ten years ended in Feb. 2026.

During the past 12 months, TSI Holdings Co's average E10 Growth Rate was 10.90% per year. During the past 3 years, the average E10 Growth Rate was 32.70% 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 TSI Holdings Co was 41.10% per year. The lowest was 32.70% per year. And the median was 36.90% per year.

As of today (2026-09-15), TSI Holdings Co's current stock price is 円1239.00. TSI Holdings Co's E10 for the quarter that ended in Feb. 2026 was 円54.55. TSI Holdings Co's Shiller PE Ratio of today is 22.72.

During the past 13 years, the highest Shiller PE Ratio of TSI Holdings Co was 45.48. The lowest was 15.54. And the median was 23.68.


TSI Holdings Co  (TSE:3608) 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.

TSI Holdings Co's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=1239.00/54.545
=22.72

* 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 TSI Holdings Co was 45.48. The lowest was 15.54. And the median was 23.68.


Be Aware

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


TSI Holdings Co E10 Related Terms


TSI Holdings Co E10 Historical Data

* Premium members only.

The historical data trend for TSI Holdings 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.

TSI Holdings Co E10 Chart

TSI Holdings Co Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 17.16 22.95 28.46 48.07 53.30

TSI Holdings Co 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 51.66 53.11 53.74 54.55 56.99

TSE:3608 vs RL, LEVI, VFC: E10 Comparison

For the Apparel Manufacturing subindustry, TSI Holdings 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.


TSI Holdings Co Shiller PE Ratio vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, TSI Holdings Co's Shiller PE Ratio distribution charts can be found below:

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


TSE:3608
81GF Score
TSI Holdings Co Ltd TSE:3608
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

TSI Holdings 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, TSI Holdings Co's adjusted earnings per share data for the three months ended in Feb. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Feb. 2026 (Change)*Current CPI (Feb. 2026)
=8.7367/112.2000*112.2000
=8.737

Current CPI (Feb. 2026) = 112.2000.

TSI Holdings Co Quarterly Data

per share eps CPI Adj_EPS
201605 16.050 98.200 18.338
201608 -11.847 97.900 -13.577
201611 21.056 98.600 23.960
201702 8.520 98.100 9.745
201705 10.830 98.600 12.324
201708 -11.211 98.500 -12.770
201711 29.141 99.100 32.993
201802 3.297 99.500 3.717
201805 5.840 99.300 6.599
201808 -9.852 99.800 -11.076
201811 30.998 100.000 34.779
201902 -29.120 99.700 -32.771
201905 26.236 100.000 29.437
201908 -15.331 100.000 -17.201
201911 40.671 100.500 45.406
202002 -28.412 100.300 -31.783
202005 -113.910 100.100 -127.680
202008 -44.165 100.100 -49.503
202011 36.687 99.500 41.370
202102 166.103 99.800 186.741
202105 26.939 99.400 30.408
202108 -5.990 99.700 -6.741
202111 39.567 100.100 44.350
202202 -49.152 100.700 -54.765
202205 23.031 101.800 25.384
202208 2.142 102.700 2.340
202211 27.784 103.900 30.003
202302 -18.489 104.000 -19.947
202305 23.769 105.100 25.375
202308 -6.287 105.900 -6.661
202311 22.320 106.900 23.427
202402 20.671 106.900 21.696
202405 7.286 108.100 7.563
202408 -18.513 109.100 -19.039
202411 13.406 110.000 13.674
202502 217.002 110.800 219.744
202505 28.440 111.800 28.542
202508 -11.214 112.100 -11.224
202511 33.841 113.200 33.542
202602 8.737 112.200 8.737

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54.55 mean?
TSI Holdings Co (TSE:3608) has a E10 of 円54.55 as of Feb. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on TSI Holdings Co and its competitors.
Is TSI Holdings Co's E10 too high?
TSI Holdings Co's current E10 is 円54.55. Overall, TSI Holdings Co has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TSI Holdings Co's E10 compare to RL and LEVI?
TSI Holdings Co's E10 of 円54.55 can be compared against companies in the Manufacturing - Apparel & Accessories 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 Manufacturing - Apparel & Accessories company?
A good E10 depends on the Manufacturing - Apparel & Accessories 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 TSI Holdings Co and its competitors. TSI Holdings Co's current E10 is 円54.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TSI Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, TSI Holdings Co (TSE:3608) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,370.18, compared to a current price of 円1,239.00 — trading 9.6% below its estimated fair value. The current E10 is 円54.55. TSI Holdings Co's overall GF Score™ is 81/100 with 2 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 TSI Holdings Co (TSE:3608), the current E10 is 円54.55 as of Feb. 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 TSI Holdings Co (TSE:3608) Overvalued in 2026?

Based on GuruFocus' analysis, TSI Holdings Co stock appears to be undervalued. The current stock price of 円1,239.00 is trading 9.6% below its estimated GF Value™ of 円1,370.18. GuruFocus considers TSI Holdings Co to be Modestly Undervalued.

Key valuation signals for TSE:3608:

  • E10: 円54.55
  • GF Value™: 円1,370.18 vs. price of 円1,239.00 (9.6% below fair value)
  • GF Score™: 81/100 with 2 warning signs

No single metric tells the full story. See the TSE:3608 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


TSI Holdings Co Business Description

Address 8-5-27 Akasaka, Minato-ku, Tokyo, JPN
TSI Holdings Co Ltd is an apparel manufacturer that owns and licenses dozens of brands that it sells through department stores, other retail stores and shopping centers, and e-commerce channels. The majority of the company's sales are in Japan, with the remainder coming from China and other parts of Asia. TSI's highest-selling brands, which collectively account for more than half of the company's total revenue, include nano, Natural Beauty Basic, Margaret Howell, Pearly Gates, Rose Bud, Stussy, Proportion Body Dressing, Free's Mart, Human Woman, and Callaway Apparel.
81GF Score

Get the complete analysis for TSE:3608

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

円1,239.00
Price
円1,370.18
GF Value