DLE (TSE:3686) E10: 円-16.96 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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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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:3686 DLE Inc TSE:3686
40 GF Score
Price 円62.00
GF Value 円108.66
Valuation Significantly Undervalued
! 4 Warning Signs
View Full Analysis

What is DLE E10?

DLE TSE:3686 +1.64% 40 E10 is 円-16.96 as of Mar. 2026. GuruFocus rates TSE:3686 with a GF Score™ of 40/100 and a GF Value™ of 円108.66 (Significantly 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.

DLE's adjusted earnings per share data for the three months ended in Mar. 2026 was 円-9.830. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円-16.96 for the trailing ten years ended in Mar. 2026.

During the past 3 years, the average E10 Growth Rate was -51.20% 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 DLE was -51.20% per year. The lowest was -81.70% per year. And the median was -66.45% per year.

As of today (2026-09-13), DLE's current stock price is 円62.00. DLE's E10 for the quarter that ended in Mar. 2026 was 円-16.96. DLE's Shiller PE Ratio of today is .


DLE  (TSE:3686) 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.


Be Aware

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


DLE E10 Related Terms


DLE E10 Historical Data

* Premium members only.

The historical data trend for DLE'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.

DLE E10 Chart

DLE Annual Data
Trend Jun17 Jun18 Jun19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 -11.86 0.00 -16.96

DLE Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 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 -13.71 -15.26 -15.57 -16.96 0.00

TSE:3686 vs NFLX, DIS, WBD: E10 Comparison

For the Entertainment subindustry, DLE'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.


DLE Shiller PE Ratio vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, DLE's Shiller PE Ratio distribution charts can be found below:

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


TSE:3686
40GF Score
DLE Inc TSE:3686
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

DLE 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, DLE'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)
=-9.83/112.7000*112.7000
=-9.830

Current CPI (Mar. 2026) = 112.7000.

DLE Quarterly Data

per share eps CPI Adj_EPS
201603 1.930 97.900 2.222
201606 1.480 98.100 1.700
201609 3.250 98.000 3.738
201612 -10.850 98.400 -12.427
201703 -59.920 98.100 -68.838
201706 18.878 98.500 21.599
201709 3.930 98.800 4.483
201712 -1.410 99.400 -1.599
201803 -8.400 99.200 -9.543
201806 -14.470 99.200 -16.439
201809 -1.940 99.900 -2.189
201812 -29.317 99.700 -33.140
201903 -2.660 99.700 -3.007
201906 26.718 99.800 30.172
201909 -1.630 100.100 -1.835
201912 -2.900 100.500 -3.252
202003 -5.820 100.300 -6.540
202006 -2.390 99.900 -2.696
202009 -4.920 99.900 -5.550
202012 -2.810 99.300 -3.189
202103 -2.036 99.900 -2.297
202106 -3.210 99.500 -3.636
202109 -2.120 100.100 -2.387
202112 -1.943 100.100 -2.188
202203 -0.170 101.100 -0.190
202206 -2.960 101.800 -3.277
202209 -2.360 103.100 -2.580
202212 -2.630 104.100 -2.847
202303 -5.762 104.400 -6.220
202306 0.270 105.200 0.289
202309 -4.080 106.200 -4.330
202312 -3.146 106.800 -3.320
202403 -6.271 107.200 -6.593
202406 -5.300 108.200 -5.520
202409 -2.370 108.900 -2.453
202503 0.000 111.100 0.000
202506 10.227 111.700 10.319
202509 -11.187 112.000 -11.257
202512 -0.740 113.000 -0.738
202603 -9.830 112.700 -9.830

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-16.96 mean?
DLE (TSE:3686) has a E10 of 円-16.96 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on DLE and its competitors.
Is DLE's E10 too high?
DLE's current E10 is 円-16.96. Overall, DLE has a GF Score™ of 40/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does DLE's E10 compare to NFLX and DIS?
DLE's E10 of 円-16.96 can be compared against companies in the Media - Diversified 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 Media - Diversified company?
A good E10 depends on the Media - Diversified 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 DLE and its competitors. DLE's current E10 is 円-16.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DLE stock overvalued right now?
Based on GuruFocus' analysis, DLE (TSE:3686) is currently considered Significantly Undervalued. The stock's GF Value™ is 円108.66, compared to a current price of 円62.00 — trading 42.9% below its estimated fair value. The current E10 is 円-16.96. DLE's overall GF Score™ is 40/100 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 DLE (TSE:3686), the current E10 is 円-16.96 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 DLE (TSE:3686) Overvalued in 2026?

Based on GuruFocus' analysis, DLE stock appears to be undervalued. The current stock price of 円62.00 is trading 42.9% below its estimated GF Value™ of 円108.66. GuruFocus considers DLE to be Significantly Undervalued.

Key valuation signals for TSE:3686:

  • E10: 円-16.96
  • GF Value™: 円108.66 vs. price of 円62.00 (42.9% below fair value)
  • GF Score™: 40/100 with 4 warning signs

No single metric tells the full story. See the TSE:3686 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


DLE Business Description

Address 3-3-4 Kojimachi, 7th Floor, KDX Kojimachi Building, Chiyoda-ku, Tokyo, JPN, 102-0083
DLE Inc is engaged in the entertainment business. It provides advertising and marketing services in Japan. The company's activities include animation, live entertainment, music, mobile apps, game development, and event planning. Further, it is also involved in the operation of in-house studios.
40GF Score

Get the complete analysis for TSE:3686

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

円62.00
Price
円108.66
GF Value