I'll (TSE:3854) E10: 円68.19 (As of Jan. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
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:3854 I'll Inc TSE:3854
94 GF Score
Price 円2,410.00
GF Value 円3,299.27
Valuation Modestly Undervalued
View Full Analysis

What is I'll E10?

I'll TSE:3854 -1.19% 94 E10 is 円68.19 as of Jan. 2026. GuruFocus rates TSE:3854 with a GF Score™ of 94/100 and a GF Value™ of 円3,299.27 (Modestly Undervalued).

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.

I'll's adjusted earnings per share data for the three months ended in Jan. 2026 was 円41.650. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円68.19 for the trailing ten years ended in Jan. 2026.

During the past 12 months, I'll's average E10 Growth Rate was 30.10% per year. During the past 3 years, the average E10 Growth Rate was 34.80% per year. During the past 5 years, the average E10 Growth Rate was 33.00% 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 I'll was 35.10% per year. The lowest was 32.80% per year. And the median was 34.00% per year.

As of today (2026-08-18), I'll's current stock price is 円2410.00. I'll's E10 for the quarter that ended in Jan. 2026 was 円68.19. I'll's Shiller PE Ratio of today is 35.34.

During the past 13 years, the highest Shiller PE Ratio of I'll was 177.66. The lowest was 31.54. And the median was 73.31.


I'll  (TSE:3854) 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.

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

Shiller PE Ratio=Share Price/E10
=2410.00/68.19
=35.34

* 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 I'll was 177.66. The lowest was 31.54. And the median was 73.31.


Be Aware

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


I'll E10 Related Terms


I'll E10 Historical Data

* Premium members only.

The historical data trend for I'll'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.

I'll E10 Chart

I'll Annual Data
Trend Jul16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 19.22 24.69 34.48 45.41 60.44

I'll Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 56.19 60.44 64.36 68.19 0.00

TSE:3854 vs IBM, ACN, FISV: E10 Comparison

For the Information Technology Services subindustry, I'll'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.


I'll Shiller PE Ratio vs Software Industry

For the Software industry and Technology sector, I'll's Shiller PE Ratio distribution charts can be found below:

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


TSE:3854
94GF Score
I'll Inc TSE:3854
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

I'll 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, I'll's adjusted earnings per share data for the three months ended in Jan. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jan. 2026 (Change)*Current CPI (Jan. 2026)
=41.65/112.9000*112.9000
=41.650

Current CPI (Jan. 2026) = 112.9000.

I'll Quarterly Data

per share eps CPI Adj_EPS
201604 0.058 98.100 0.067
201607 4.495 97.900 5.184
201610 -1.040 98.600 -1.191
201701 5.633 98.200 6.476
201704 4.050 98.500 4.642
201707 3.333 98.300 3.828
201710 3.305 98.800 3.777
201801 2.355 99.500 2.672
201804 3.980 99.100 4.534
201807 3.807 99.200 4.333
201810 3.840 100.200 4.327
201901 5.980 99.700 6.772
201904 6.634 100.000 7.490
201907 8.348 99.800 9.444
201910 22.100 100.400 24.851
202001 10.268 100.500 11.535
202004 9.460 100.200 10.659
202007 5.718 100.000 6.456
202010 14.480 99.800 16.381
202101 10.920 99.800 12.353
202104 9.820 99.100 11.187
202107 13.670 99.700 15.480
202110 8.510 99.900 9.617
202201 14.018 100.300 15.779
202204 17.500 101.500 19.466
202207 15.010 102.300 16.565
202210 18.760 103.700 20.424
202301 25.390 104.700 27.379
202304 24.901 105.100 26.749
202307 29.700 105.700 31.723
202310 29.820 107.100 31.435
202401 29.700 106.900 31.367
202404 27.754 107.700 29.094
202407 28.080 108.600 29.192
202410 29.790 109.500 30.715
202501 32.470 111.200 32.966
202504 33.550 111.500 33.971
202507 45.510 111.900 45.917
202510 36.570 112.800 36.602
202601 41.650 112.900 41.650

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68.19 mean?
I'll (TSE:3854) has a E10 of 円68.19 as of Jan. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on I'll and its competitors.
Is I'll's E10 too high?
I'll's current E10 is 円68.19. Overall, I'll has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does I'll's E10 compare to IBM and ACN?
I'll's E10 of 円68.19 can be compared against companies in the Software 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 Software company?
A good E10 depends on the Software 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 I'll and its competitors. I'll's current E10 is 円68.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is I'll stock overvalued right now?
Based on GuruFocus' analysis, I'll (TSE:3854) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,299.27, compared to a current price of 円2,410.00 — trading 27% below its estimated fair value. The current E10 is 円68.19. I'll's overall GF Score™ is 94/100. 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 I'll (TSE:3854), the current E10 is 円68.19 as of Jan. 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 I'll (TSE:3854) Overvalued in 2026?

Based on GuruFocus' analysis, I'll stock appears to be undervalued. The current stock price of 円2,410.00 is trading 27% below its estimated GF Value™ of 円3,299.27. GuruFocus considers I'll to be Modestly Undervalued.

Key valuation signals for TSE:3854:

  • E10: 円68.19
  • GF Value™: 円3,299.27 vs. price of 円2,410.00 (27% below fair value)
  • GF Score™: 94/100

No single metric tells the full story. See the TSE:3854 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


I'll Business Description

Address 2-1-23, Kita-ku, Osaka, JPN
I'll Inc is engaged in the provision of system integration services for medium and small size companies. The company is engaged in two divisions namely System solution business, and Web solution business. The system solution provides customers with basic system construction, hardware maintenance, system operation support, network construction, and security management, and the Web solution offers website creation and operation, customer business analysis, and others. It is also develops unified management software, point unified management software and other operations.
94GF Score

Get the complete analysis for TSE:3854

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

円2,410.00
Price
円3,299.27
GF Value