Hatena Co (TSE:3930) E10: 円38.57 (As of Apr. 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.
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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:3930 Hatena Co Ltd TSE:3930
70 GF Score
Price 円1,130.00
GF Value 円775.66
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Hatena Co E10?

Hatena Co TSE:3930 -0.88% 70 E10 is 円38.57 as of Apr. 2026. GuruFocus rates TSE:3930 with a GF Score™ of 70/100 and a GF Value™ of 円775.66 (Significantly Overvalued). The stock has 5 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.

Hatena Co's adjusted earnings per share data for the three months ended in Apr. 2026 was 円-262.310. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円38.57 for the trailing ten years ended in Apr. 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 (2026-07-14), Hatena Co's current stock price is 円1130.00. Hatena Co's E10 for the quarter that ended in Apr. 2026 was 円38.57. Hatena Co's Shiller PE Ratio of today is 29.30.

During the past 11 years, the highest Shiller PE Ratio of Hatena Co was 29.85. The lowest was 13.85. And the median was 20.40.


Hatena Co  (TSE:3930) 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.

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

Shiller PE Ratio=Share Price/E10
=1130.00/38.57
=29.30

* 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 11 years, the highest Shiller P/E Ratio of Hatena Co was 29.85. The lowest was 13.85. And the median was 20.40.


Be Aware

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


Hatena Co E10 Related Terms


Hatena Co E10 Historical Data

* Premium members only.

The historical data trend for Hatena 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.

Hatena Co E10 Chart

Hatena Co 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 0.00 0.00 0.00 0.00 69.69

Hatena Co Quarterly Data
Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 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 0.00 69.69 68.65 0.00 38.57

TSE:3930 vs GOOGL, META, SPOT: E10 Comparison

For the Internet Content & Information subindustry, Hatena 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.


Hatena Co Shiller PE Ratio vs Interactive Media Industry

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

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


TSE:3930
70GF Score
Hatena Co Ltd TSE:3930
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Hatena 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, Hatena Co's adjusted earnings per share data for the three months ended in Apr. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Apr. 2026 (Change)*Current CPI (Apr. 2026)
=-262.31/113.0000*113.0000
=-262.310

Current CPI (Apr. 2026) = 113.0000.

Hatena Co Quarterly Data

per share eps CPI Adj_EPS
201604 13.610 98.100 15.677
201607 6.460 97.900 7.456
201610 19.770 98.600 22.657
201701 20.140 98.200 23.175
201704 19.590 98.500 22.474
201707 17.480 98.300 20.094
201710 15.800 98.800 18.071
201801 12.230 99.500 13.889
201804 30.350 99.100 34.607
201807 19.080 99.200 21.734
201810 36.830 100.200 41.535
201901 21.620 99.700 24.504
201904 31.860 100.000 36.002
201907 17.040 99.800 19.294
201910 16.860 100.400 18.976
202001 16.530 100.500 18.586
202004 20.760 100.200 23.412
202007 8.270 100.000 9.345
202010 6.370 99.800 7.213
202101 6.390 99.800 7.235
202104 35.020 99.100 39.932
202107 8.730 99.700 9.895
202110 17.320 99.900 19.591
202201 25.210 100.300 28.402
202204 15.580 101.500 17.345
202207 20.720 102.300 22.887
202210 14.230 103.700 15.506
202301 3.870 104.700 4.177
202304 9.800 105.100 10.537
202307 5.470 105.700 5.848
202310 3.080 107.100 3.250
202401 3.900 106.900 4.123
202404 -10.370 107.700 -10.880
202407 24.484 108.600 25.476
202501 0.000 111.200 0.000
202504 15.640 111.500 15.850
202507 8.790 111.900 8.876
202510 1.930 112.800 1.933
202601 0.000 112.900 0.000
202604 -262.310 113.000 -262.310

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38.57 mean?
Hatena Co (TSE:3930) has a E10 of 円38.57 as of Apr. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Hatena Co and its competitors.
Is Hatena Co's E10 too high?
Hatena Co's current E10 is 円38.57. Overall, Hatena Co has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hatena Co's E10 compare to GOOGL and META?
Hatena Co's E10 of 円38.57 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 Hatena Co and its competitors. Hatena Co's current E10 is 円38.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hatena Co stock overvalued right now?
Based on GuruFocus' analysis, Hatena Co (TSE:3930) is currently considered Significantly Overvalued. The stock's GF Value™ is 円775.66, compared to a current price of 円1,130.00 — trading 45.7% above its estimated fair value. The current E10 is 円38.57. Hatena Co's overall GF Score™ is 70/100 with 5 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 Hatena Co (TSE:3930), the current E10 is 円38.57 as of Apr. 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 Hatena Co (TSE:3930) Overvalued in 2026?

Based on GuruFocus' analysis, Hatena Co stock appears to be overvalued. The current stock price of 円1,130.00 is trading 45.7% above its estimated GF Value™ of 円775.66. GuruFocus considers Hatena Co to be Significantly Overvalued.

Key valuation signals for TSE:3930:

  • E10: 円38.57
  • GF Value™: 円775.66 vs. price of 円1,130.00 (45.7% above fair value)
  • GF Score™: 70/100 with 5 warning signs

No single metric tells the full story. See the TSE:3930 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hatena Co Business Description

Address Takamiya-cho 206, Yubinbango, Kyoto Prefecture Oike Aino-cho HigashiIri, Oike building, 9th floor, Nakagyo-ku, Kyoto, JPN, 604-0835
Hatena Co Ltd provides internet content platform services and content marketing services technology solutions. Its content platform services include the blog, bookmark services, and shared dictionary service.
70GF Score

Get the complete analysis for TSE:3930

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

円1,130.00
Price
円775.66
GF Value