Kogi (TSE:5603) E10: 円140.00 (As of Mar. 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:5603 Kogi Corp TSE:5603
64 GF Score
Price 円1,321.00
GF Value 円1,179.70
Valuation Modestly Overvalued
! 6 Warning Signs
View Full Analysis

What is Kogi E10?

Kogi TSE:5603 -0.15% 64 E10 is 円140.00 as of Mar. 2026. GuruFocus rates TSE:5603 with a GF Score™ of 64/100 and a GF Value™ of 円1,179.70 (Modestly Overvalued). The stock has 6 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.

Kogi's adjusted earnings per share data for the three months ended in Mar. 2026 was 円26.840. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円140.00 for the trailing ten years ended in Mar. 2026.

During the past 3 years, the average E10 Growth Rate was 6.20% 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 Kogi was 6.20% per year. The lowest was -8.40% per year. And the median was -1.90% per year.

As of today (2026-08-29), Kogi's current stock price is 円1321.00. Kogi's E10 for the quarter that ended in Mar. 2026 was 円140.00. Kogi's Shiller PE Ratio of today is 9.44.

During the past 13 years, the highest Shiller PE Ratio of Kogi was 16.13. The lowest was 6.29. And the median was 9.30.


Kogi  (TSE:5603) 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.

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

Shiller PE Ratio=Share Price/E10
=1321.00/140.00
=9.44

* 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 Kogi was 16.13. The lowest was 6.29. And the median was 9.30.


Be Aware

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


Kogi E10 Related Terms


Kogi E10 Historical Data

* Premium members only.

The historical data trend for Kogi'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.

Kogi E10 Chart

Kogi Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 108.72 117.02 130.95 0.00 140.00

Kogi 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 142.18 142.18 142.12 140.00 0.00

TSE:5603 vs CRS, ATI, MLI: E10 Comparison

For the Metal Fabrication subindustry, Kogi'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.


Kogi Shiller PE Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Kogi's Shiller PE Ratio distribution charts can be found below:

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


TSE:5603
64GF Score
Kogi Corp TSE:5603
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kogi 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, Kogi'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)
=26.84/112.7000*112.7000
=26.840

Current CPI (Mar. 2026) = 112.7000.

Kogi Quarterly Data

per share eps CPI Adj_EPS
201603 63.700 97.900 73.330
201606 71.100 98.100 81.682
201609 72.910 98.000 83.847
201612 -104.171 98.400 -119.310
201703 72.290 98.100 83.049
201706 52.060 98.500 59.565
201709 28.950 98.800 33.023
201712 69.640 99.400 78.958
201803 47.961 99.200 54.488
201806 51.720 99.200 58.759
201809 43.730 99.900 49.333
201812 71.791 99.700 81.152
201903 54.180 99.700 61.245
201906 34.090 99.800 38.496
201909 25.660 100.100 28.890
201912 6.033 100.500 6.765
202003 -35.230 100.300 -39.585
202006 4.600 99.900 5.189
202009 -7.410 99.900 -8.359
202012 24.132 99.300 27.388
202103 64.552 99.900 72.823
202106 -6.170 99.500 -6.989
202109 -13.710 100.100 -15.436
202112 12.066 100.100 13.585
202203 20.512 101.100 22.866
202206 15.170 101.800 16.794
202209 12.233 103.100 13.372
202212 60.620 104.100 65.628
202303 54.100 104.400 58.401
202306 48.060 105.200 51.486
202309 8.530 106.200 9.052
202312 61.470 106.800 64.866
202403 46.360 107.200 48.739
202406 11.430 108.200 11.905
202409 53.920 108.900 55.802
202503 0.000 111.100 0.000
202506 62.880 111.700 63.443
202509 32.700 112.000 32.904
202512 21.110 113.000 21.054
202603 26.840 112.700 26.840

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140.00 mean?
Kogi (TSE:5603) has a E10 of 円140.00 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Kogi and its competitors.
Is Kogi's E10 too high?
Kogi's current E10 is 円140.00. Overall, Kogi has a GF Score™ of 64/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kogi's E10 compare to CRS and ATI?
Kogi's E10 of 円140.00 can be compared against companies in the Industrial Products 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 Industrial Products company?
A good E10 depends on the Industrial Products 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 Kogi and its competitors. Kogi's current E10 is 円140.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kogi stock overvalued right now?
Based on GuruFocus' analysis, Kogi (TSE:5603) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,179.70, compared to a current price of 円1,321.00 — trading 12% above its estimated fair value. The current E10 is 円140.00. Kogi's overall GF Score™ is 64/100 with 6 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 Kogi (TSE:5603), the current E10 is 円140.00 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 Kogi (TSE:5603) Overvalued in 2026?

Based on GuruFocus' analysis, Kogi stock appears to be overvalued. The current stock price of 円1,321.00 is trading 12% above its estimated GF Value™ of 円1,179.70. GuruFocus considers Kogi to be Modestly Overvalued.

Key valuation signals for TSE:5603:

  • E10: 円140.00
  • GF Value™: 円1,179.70 vs. price of 円1,321.00 (12% above fair value)
  • GF Score™: 64/100 with 6 warning signs

No single metric tells the full story. See the TSE:5603 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kogi Business Description

Address 4-1, Kanbee-cho, Otsu-ku, Hyogo, Himeji, JPN, 671 1132
Kogi Corp is a Japan-based company that engages in the manufacture and sale of roll products for steel rolling mills, casting mold for steel ingots, metal casting for automobiles, dense bars, and metal casting for general purposes. The company has three segments: Casting Field, Environment Field/Environmental Engineering, and Environment Field/Functional Materials. The company generates the majority of its revenue from the Casting Field segment.
64GF Score

Get the complete analysis for TSE:5603

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

円1,321.00
Price
円1,179.70
GF Value