Meiwa (TSE:8103) E10: 円59.10 (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:8103 Meiwa Corp TSE:8103
75 GF Score
Price 円979.00
GF Value 円757.57
Valuation Modestly Overvalued
! 1 Warning Sign
View Full Analysis

What is Meiwa E10?

Meiwa TSE:8103 +0.31% 75 E10 is 円59.10 as of Mar. 2026. GuruFocus rates TSE:8103 with a GF Score™ of 75/100 and a GF Value™ of 円757.57 (Modestly Overvalued). The stock has 1 warning sign 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.

Meiwa's adjusted earnings per share data for the three months ended in Mar. 2026 was 円29.840. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円59.10 for the trailing ten years ended in Mar. 2026.

During the past 3 years, the average E10 Growth Rate was 3.60% 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 Meiwa was 3.60% per year. The lowest was -0.50% per year. And the median was 1.30% per year.

As of today (2026-08-28), Meiwa's current stock price is 円979.00. Meiwa's E10 for the quarter that ended in Mar. 2026 was 円59.10. Meiwa's Shiller PE Ratio of today is 16.57.

During the past 13 years, the highest Shiller PE Ratio of Meiwa was 23.31. The lowest was 6.63. And the median was 12.19.


Meiwa  (TSE:8103) 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.

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

Shiller PE Ratio=Share Price/E10
=979.00/59.10
=16.57

* 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 Meiwa was 23.31. The lowest was 6.63. And the median was 12.19.


Be Aware

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


Meiwa E10 Related Terms


Meiwa E10 Historical Data

* Premium members only.

The historical data trend for Meiwa'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.

Meiwa E10 Chart

Meiwa 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 51.81 53.22 54.74 0.00 59.10

Meiwa Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 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 56.89 56.90 57.74 59.10 0.00

TSE:8103 vs GWW, FAST, FERG: E10 Comparison

For the Industrial Distribution subindustry, Meiwa'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.


Meiwa Shiller PE Ratio vs Industrial Distribution Industry

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

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


TSE:8103
75GF Score
Meiwa Corp TSE:8103
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Meiwa 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, Meiwa'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)
=29.84/112.7000*112.7000
=29.840

Current CPI (Mar. 2026) = 112.7000.

Meiwa Quarterly Data

per share eps CPI Adj_EPS
201512 15.250 98.100 17.520
201603 8.836 97.900 10.172
201606 14.860 98.100 17.072
201609 12.520 98.000 14.398
201612 15.100 98.400 17.294
201703 12.523 98.100 14.387
201706 11.980 98.500 13.707
201709 7.610 98.800 8.681
201712 15.468 99.400 17.538
201803 14.450 99.200 16.416
201806 15.080 99.200 17.132
201809 10.410 99.900 11.744
201812 18.892 99.700 21.355
201903 9.900 99.700 11.191
201906 12.090 99.800 13.653
201909 9.458 100.100 10.649
201912 23.370 100.500 26.207
202003 5.148 100.300 5.784
202006 4.000 99.900 4.513
202009 11.330 99.900 12.782
202012 12.660 99.300 14.368
202103 0.694 99.900 0.783
202106 16.830 99.500 19.063
202109 13.080 100.100 14.726
202112 16.019 100.100 18.035
202203 11.709 101.100 13.052
202206 15.650 101.800 17.326
202209 10.600 103.100 11.587
202212 18.340 104.100 19.855
202303 -3.400 104.400 -3.670
202306 6.450 105.200 6.910
202309 16.809 106.200 17.838
202312 23.330 106.800 24.619
202403 19.490 107.200 20.490
202409 0.000 108.900 0.000
202503 0.000 111.100 0.000
202506 24.470 111.700 24.689
202509 13.150 112.000 13.232
202512 16.530 113.000 16.486
202603 29.840 112.700 29.840

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59.10 mean?
Meiwa (TSE:8103) has a E10 of 円59.10 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Meiwa and its competitors.
Is Meiwa's E10 too high?
Meiwa's current E10 is 円59.10. Overall, Meiwa has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Meiwa's E10 compare to GWW and FAST?
Meiwa's E10 of 円59.10 can be compared against companies in the Industrial Distribution 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 Distribution company?
A good E10 depends on the Industrial Distribution 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 Meiwa and its competitors. Meiwa's current E10 is 円59.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Meiwa stock overvalued right now?
Based on GuruFocus' analysis, Meiwa (TSE:8103) is currently considered Modestly Overvalued. The stock's GF Value™ is 円757.57, compared to a current price of 円979.00 — trading 29.2% above its estimated fair value. The current E10 is 円59.10. Meiwa's overall GF Score™ is 75/100 with 1 warning sign 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 Meiwa (TSE:8103), the current E10 is 円59.10 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 Meiwa (TSE:8103) Overvalued in 2026?

Based on GuruFocus' analysis, Meiwa stock appears to be overvalued. The current stock price of 円979.00 is trading 29.2% above its estimated GF Value™ of 円757.57. GuruFocus considers Meiwa to be Modestly Overvalued.

Key valuation signals for TSE:8103:

  • E10: 円59.10
  • GF Value™: 円757.57 vs. price of 円979.00 (29.2% above fair value)
  • GF Score™: 75/100 with 1 warning sign

No single metric tells the full story. See the TSE:8103 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Meiwa Business Description

Address 3-3-1 Marunouchi, Chiyoda-ku, Tokyo, JPN, 100-8311
Meiwa Corp is a Japan-based company. Along with its subsidiaries, the company operates in the following reportable segments: First Business, Second Business, Third Business, Battery and Automotive Business Division, and Others. Maximum revenue for the group is generated from the Third Business segment, which offers film products, papermaking chemicals, adhesives, synthetic resin raw materials, synthetic resin products, and inorganic chemicals. The First Business is engaged in trading earths and rare metals, flame retardants, heat insulation, waterproofing, and interior materials. Second Business represents its petroleum products business, covering lubricants to base oil, and additives, and the Battery and Automotive division invests in battery materials and offers automotive parts.
75GF Score

Get the complete analysis for TSE:8103

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

円979.00
Price
円757.57
GF Value