Toyo Wharf & Warehouse Co (TSE:9351) E10: 円151.72 (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.
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:9351 Toyo Wharf & Warehouse Co Ltd TSE:9351
74 GF Score
Price 円1,939.00
GF Value 円1,525.06
Valuation Modestly Overvalued
! 3 Warning Signs
View Full Analysis

What is Toyo Wharf & Warehouse Co E10?

Toyo Wharf & Warehouse Co TSE:9351 -0.21% 74 E10 is 円151.72 as of Mar. 2026. GuruFocus rates TSE:9351 with a GF Score™ of 74/100 and a GF Value™ of 円1,525.06 (Modestly Overvalued). The stock has 3 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.

Toyo Wharf & Warehouse Co's adjusted earnings per share data for the three months ended in Mar. 2026 was 円50.850. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円151.72 for the trailing ten years ended in Mar. 2026.

During the past 3 years, the average E10 Growth Rate was 12.90% 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 Toyo Wharf & Warehouse Co was 14.90% per year. The lowest was 7.30% per year. And the median was 9.50% per year.

As of today (2026-09-03), Toyo Wharf & Warehouse Co's current stock price is 円1939.00. Toyo Wharf & Warehouse Co's E10 for the quarter that ended in Mar. 2026 was 円151.72. Toyo Wharf & Warehouse Co's Shiller PE Ratio of today is 12.78.

During the past 13 years, the highest Shiller PE Ratio of Toyo Wharf & Warehouse Co was 27.87. The lowest was 9.25. And the median was 14.25.


Toyo Wharf & Warehouse Co  (TSE:9351) 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.

Toyo Wharf & Warehouse Co's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=1939.00/151.72
=12.78

* 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 Toyo Wharf & Warehouse Co was 27.87. The lowest was 9.25. And the median was 14.25.


Be Aware

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


Toyo Wharf & Warehouse Co E10 Related Terms


Toyo Wharf & Warehouse Co E10 Historical Data

* Premium members only.

The historical data trend for Toyo Wharf & Warehouse 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.

Toyo Wharf & Warehouse Co E10 Chart

Toyo Wharf & Warehouse Co 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 96.93 105.31 123.52 0.00 151.72

Toyo Wharf & Warehouse Co 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 147.03 146.49 150.43 151.72 0.00

TSE:9351 vs UPS, FDX, EXPD: E10 Comparison

For the Integrated Freight & Logistics subindustry, Toyo Wharf & Warehouse 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.


Toyo Wharf & Warehouse Co Shiller PE Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Toyo Wharf & Warehouse Co's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Toyo Wharf & Warehouse Co's Shiller PE Ratio falls into.


TSE:9351
74GF Score
Toyo Wharf & Warehouse Co Ltd TSE:9351
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Toyo Wharf & Warehouse 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, Toyo Wharf & Warehouse Co'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)
=50.85/112.7000*112.7000
=50.850

Current CPI (Mar. 2026) = 112.7000.

Toyo Wharf & Warehouse Co Quarterly Data

per share eps CPI Adj_EPS
201603 -59.500 97.900 -68.495
201606 46.300 98.100 53.191
201609 36.987 98.000 42.535
201612 42.827 98.400 49.051
201703 20.520 98.100 23.574
201706 61.560 98.500 70.435
201709 41.402 98.800 47.227
201712 38.027 99.400 43.115
201803 -16.490 99.200 -18.734
201806 60.100 99.200 68.279
201809 25.350 99.900 28.598
201812 43.879 99.700 49.600
201903 33.106 99.700 37.423
201906 23.640 99.800 26.696
201909 35.832 100.100 40.342
201912 36.352 100.500 40.765
202003 66.630 100.300 74.867
202006 48.950 99.900 55.222
202009 27.090 99.900 30.561
202012 18.046 99.300 20.481
202103 10.060 99.900 11.349
202106 58.040 99.500 65.740
202109 42.198 100.100 47.510
202112 39.861 100.100 44.878
202203 6.882 101.100 7.672
202206 62.540 101.800 69.236
202209 57.910 103.100 63.302
202212 38.479 104.100 41.658
202303 5.696 104.400 6.149
202306 43.680 105.200 46.794
202309 20.856 106.200 22.132
202312 22.661 106.800 23.913
202403 44.300 107.200 46.573
202406 43.120 108.200 44.913
202409 20.050 108.900 20.750
202503 0.000 111.100 0.000
202506 56.050 111.700 56.552
202509 35.690 112.000 35.913
202512 58.850 113.000 58.694
202603 50.850 112.700 50.850

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151.72 mean?
Toyo Wharf & Warehouse Co (TSE:9351) has a E10 of 円151.72 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Toyo Wharf & Warehouse Co and its competitors.
Is Toyo Wharf & Warehouse Co's E10 too high?
Toyo Wharf & Warehouse Co's current E10 is 円151.72. Overall, Toyo Wharf & Warehouse Co has a GF Score™ of 74/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Toyo Wharf & Warehouse Co's E10 compare to UPS and FDX?
Toyo Wharf & Warehouse Co's E10 of 円151.72 can be compared against companies in the Transportation 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 Transportation company?
A good E10 depends on the Transportation 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 Toyo Wharf & Warehouse Co and its competitors. Toyo Wharf & Warehouse Co's current E10 is 円151.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toyo Wharf & Warehouse Co stock overvalued right now?
Based on GuruFocus' analysis, Toyo Wharf & Warehouse Co (TSE:9351) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,525.06, compared to a current price of 円1,939.00 — trading 27.1% above its estimated fair value. The current E10 is 円151.72. Toyo Wharf & Warehouse Co's overall GF Score™ is 74/100 with 3 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 Toyo Wharf & Warehouse Co (TSE:9351), the current E10 is 円151.72 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 Toyo Wharf & Warehouse Co (TSE:9351) Overvalued in 2026?

Based on GuruFocus' analysis, Toyo Wharf & Warehouse Co stock appears to be overvalued. The current stock price of 円1,939.00 is trading 27.1% above its estimated GF Value™ of 円1,525.06. GuruFocus considers Toyo Wharf & Warehouse Co to be Modestly Overvalued.

Key valuation signals for TSE:9351:

  • E10: 円151.72
  • GF Value™: 円1,525.06 vs. price of 円1,939.00 (27.1% above fair value)
  • GF Score™: 74/100 with 3 warning signs

No single metric tells the full story. See the TSE:9351 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Toyo Wharf & Warehouse Co Business Description

Address 1-8-8 Harumi, 19th floor, Harumi Triton Square W Building, Chuo-ku, Tokyo, JPN, 104-0053
Toyo Wharf & Warehouse Co Ltd is engaged in the domestic comprehensive logistics business, international logistics business and related business mainly for warehousing, port transportation, Automobile transportation, and International logistics business.
74GF Score

Get the complete analysis for TSE:9351

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

円1,939.00
Price
円1,525.06
GF Value