CRI Middleware Co (TSE:3698) E10: 円40.39 (As of Mar. 2026)

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TSE:3698 CRI Middleware Co Ltd TSE:3698
97 GF Score
Price 円1,165.00
GF Value 円1,222.44
Valuation Fairly Valued
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What is CRI Middleware Co E10?

CRI Middleware Co TSE:3698 -0.94% 97 E10 is 円40.39 as of Mar. 2026. GuruFocus rates TSE:3698 with a GF Score™ of 97/100 and a GF Value™ of 円1,222.44 (Fairly Valued).

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.

CRI Middleware Co's adjusted earnings per share data for the three months ended in Mar. 2026 was 円37.560. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円40.39 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 (2026-08-26), CRI Middleware Co's current stock price is 円1165.00. CRI Middleware Co's E10 for the quarter that ended in Mar. 2026 was 円40.39. CRI Middleware Co's Shiller PE Ratio of today is 28.84.

During the past 13 years, the highest Shiller PE Ratio of CRI Middleware Co was 43.53. The lowest was 19.57. And the median was 25.98.


CRI Middleware Co  (TSE:3698) 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.

CRI Middleware Co's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=1165.00/40.39
=28.84

* 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 CRI Middleware Co was 43.53. The lowest was 19.57. And the median was 25.98.


Be Aware

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


CRI Middleware Co E10 Related Terms


CRI Middleware Co E10 Historical Data

* Premium members only.

The historical data trend for CRI Middleware 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.

CRI Middleware Co E10 Chart

CRI Middleware Co Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 35.16 37.83

CRI Middleware Co 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 36.11 37.83 36.89 40.39 0.00

TSE:3698 vs NTES, EA, TTWO: E10 Comparison

For the Electronic Gaming & Multimedia subindustry, CRI Middleware 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.


CRI Middleware Co Shiller PE Ratio vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, CRI Middleware Co's Shiller PE Ratio distribution charts can be found below:

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


TSE:3698
97GF Score
CRI Middleware Co Ltd TSE:3698
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CRI Middleware 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, CRI Middleware Co'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)
=37.56/112.7000*112.7000
=37.560

Current CPI (Mar. 2026) = 112.7000.

CRI Middleware Co Quarterly Data

per share eps CPI Adj_EPS
201603 12.920 97.900 14.873
201606 9.640 98.100 11.075
201609 14.400 98.000 16.560
201612 -2.500 98.400 -2.863
201703 8.998 98.100 10.337
201706 6.390 98.500 7.311
201709 2.760 98.800 3.148
201712 2.630 99.400 2.982
201803 13.370 99.200 15.190
201806 14.270 99.200 16.212
201809 20.480 99.900 23.104
201812 16.540 99.700 18.697
201903 8.560 99.700 9.676
201906 1.960 99.800 2.213
201909 17.700 100.100 19.928
201912 9.120 100.500 10.227
202003 9.870 100.300 11.090
202006 14.270 99.900 16.098
202009 31.600 99.900 35.649
202012 8.400 99.300 9.534
202103 12.600 99.900 14.214
202106 8.340 99.500 9.446
202109 7.220 100.100 8.129
202112 0.660 100.100 0.743
202203 1.510 101.100 1.683
202206 -5.388 101.800 -5.965
202209 -59.024 103.100 -64.520
202212 6.840 104.100 7.405
202303 20.430 104.400 22.054
202306 9.184 105.200 9.839
202309 7.137 106.200 7.574
202312 4.710 106.800 4.970
202403 24.450 107.200 25.704
202406 2.920 108.200 3.041
202409 26.190 108.900 27.104
202503 0.000 111.100 0.000
202506 10.750 111.700 10.846
202509 17.810 112.000 17.921
202512 5.000 113.000 4.987
202603 37.560 112.700 37.560

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40.39 mean?
CRI Middleware Co (TSE:3698) has a E10 of 円40.39 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on CRI Middleware Co and its competitors.
Is CRI Middleware Co's E10 too high?
CRI Middleware Co's current E10 is 円40.39. Overall, CRI Middleware Co has a GF Score™ of 97/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CRI Middleware Co's E10 compare to NTES and EA?
CRI Middleware Co's E10 of 円40.39 can be compared against companies in the Interactive Media 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 an Interactive Media company?
A good E10 depends on the Interactive Media 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 CRI Middleware Co and its competitors. CRI Middleware Co's current E10 is 円40.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CRI Middleware Co stock overvalued right now?
Based on GuruFocus' analysis, CRI Middleware Co (TSE:3698) is currently considered Fairly Valued. The stock's GF Value™ is 円1,222.44, compared to a current price of 円1,165.00 — trading 4.7% below its estimated fair value. The current E10 is 円40.39. CRI Middleware Co's overall GF Score™ is 97/100. 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 CRI Middleware Co (TSE:3698), the current E10 is 円40.39 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 CRI Middleware Co (TSE:3698) Overvalued in 2026?

Based on GuruFocus' analysis, CRI Middleware Co stock appears to be undervalued. The current stock price of 円1,165.00 is trading 4.7% below its estimated GF Value™ of 円1,222.44. GuruFocus considers CRI Middleware Co to be Fairly Valued.

Key valuation signals for TSE:3698:

  • E10: 円40.39
  • GF Value™: 円1,222.44 vs. price of 円1,165.00 (4.7% below fair value)
  • GF Score™: 97/100

No single metric tells the full story. See the TSE:3698 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CRI Middleware Co Business Description

Address 20-1 Sakuragaoka-cho, 11th Floor, Shibuya Info Tower, Shibuya-ku, Tokyo, JPN, 150-0031
CRI Middleware Co Ltd is a provider of audio and video solutions for the gaming industry. It is engaged in the research and development of voice, video and file systems. Further, it also provides sales and support of middleware products. Geographically, the activities are carried out through the region of Japan.
97GF Score

Get the complete analysis for TSE:3698

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

円1,165.00
Price
円1,222.44
GF Value