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.
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.
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.
Kose Holdings's adjusted earnings per share data for the three months ended in Dec. 2025 was 円100.340. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円381.77 for the trailing ten years ended in Dec. 2025.
During the past 12 months, Kose Holdings's average E10 Growth Rate was -1.50% per year.
During the past 3 years, the average E10 Growth Rate was 0.60% per year.
During the past 5 years, the average E10 Growth Rate was 4.50% 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 Kose Holdings was 13.10% per year. The lowest was 0.60% per year. And the median was 6.90% per year.
During the past 13 years, the highestShiller PE Ratio of Kose Holdings was 115.73. The lowest was 13.07. And the median was 40.29.
Kose Holdings (TSE:4922) 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.
Kose Holdings's Shiller P/E Ratio of today is calculated as
* 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 Kose Holdings was 115.73. The lowest was 13.07. And the median was 40.29.
Be Aware
Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.
Kose Holdings E10 Related Terms
Kose Holdings E10 Historical Data
* Premium members only.
The historical data trend for Kose Holdings'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.
For the Household & Personal Products subindustry, Kose Holdings'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.
Kose Holdings Shiller PE Ratio vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Kose Holdings's Shiller PE Ratio distribution charts can be found below:
* The bar in red indicates where Kose Holdings's Shiller PE Ratio falls into.
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, Kose Holdings's adjusted earnings per share data for the three months ended in Dec. 2025 was:
Kose Holdings (TSE:4922) has a E10 of 円381.77 as of Dec. 2025. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Kose Holdings and its competitors.
Is Kose Holdings' E10 too high?
Kose Holdings' current E10 is 円381.77. Overall, Kose Holdings has a GF Score™ of 70/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kose Holdings' E10 compare to PG and CL?
Kose Holdings' E10 of 円381.77 can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good E10 depends on the Consumer Packaged Goods 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 Kose Holdings and its competitors. Kose Holdings's current E10 is 円381.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kose Holdings stock overvalued right now?
Based on GuruFocus' analysis, Kose Holdings (TSE:4922) is currently considered Significantly Undervalued. The stock's GF Value™ is 円8,955.98, compared to a current price of 円5,580.00 — trading 37.7% below its estimated fair value. The current E10 is 円381.77. Kose Holdings' 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 Kose Holdings (TSE:4922), the current E10 is 円381.77 as of Dec. 2025. 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 Kose Holdings (TSE:4922) Overvalued in 2026?
Based on GuruFocus' analysis, Kose Holdings stock appears to be undervalued.
The current stock price of 円5,580.00 is trading 37.7% below its estimated GF Value™ of 円8,955.98.
GuruFocus considers Kose Holdings to be Significantly Undervalued.
Key valuation signals for TSE:4922:
E10: 円381.77
GF Value™: 円8,955.98 vs. price of 円5,580.00 (37.7% below fair value)
No single metric tells the full story. See the TSE:4922 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kose is Japan's second-largest beauty company, best known for its prestige skincare brands such as Decorte and Albion. Founded in 1946, the company remains under the management of the Kobayashi family. Albion, a fully consolidated subsidiary in which Kose holds a 79.5% stake, operates independently under a separate brand of the Kobayashi family. With a portfolio of 37 brands spanning multiple price points, the group captured approximately 15% of Japan's premium beauty segment in 2024, according to Euromonitor. Japan remains its core market, contributing over 60% of sales, followed by North America (19%) and Asia (13%). The company distributes its products through a diversified channel mix of department stores, specialty retailers, drugstores, travel retail, and e-commerce platforms.
70GF Score
Get the complete analysis for TSE:4922
E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:4922 has been successfully added to your 
