Space Co (TSE:9622) E10: 円93.01 (As of Dec. 2025)

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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:9622 Space Co Ltd TSE:9622
88 GF Score
Price 円1,443.00
GF Value 円1,492.97
Valuation Fairly Valued
View Full Analysis

What is Space Co E10?

Space Co TSE:9622 +0.70% 88 E10 is 円93.01 as of Dec. 2025. GuruFocus rates TSE:9622 with a GF Score™ of 88/100 and a GF Value™ of 円1,492.97 (Fairly Valued).

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.

Space Co's adjusted earnings per share data for the three months ended in Dec. 2025 was 円53.130. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is 円93.01 for the trailing ten years ended in Dec. 2025.

During the past 12 months, Space Co's average E10 Growth Rate was 7.80% per year. During the past 3 years, the average E10 Growth Rate was 5.20% per year. During the past 5 years, the average E10 Growth Rate was 4.70% 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 Space Co was 5.20% per year. The lowest was 2.60% per year. And the median was 3.30% per year.

As of today (2026-07-24), Space Co's current stock price is 円1443.00. Space Co's E10 for the quarter that ended in Dec. 2025 was 円93.01. Space Co's Shiller PE Ratio of today is 15.51.

During the past 13 years, the highest Shiller PE Ratio of Space Co was 20.24. The lowest was 10.22. And the median was 12.91.


Space Co  (TSE:9622) 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.

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

Shiller PE Ratio=Share Price/E10
=1443.00/93.01
=15.51

* 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 Space Co was 20.24. The lowest was 10.22. And the median was 12.91.


Be Aware

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


Space Co E10 Related Terms


Space Co E10 Historical Data

* Premium members only.

The historical data trend for Space 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.

Space Co E10 Chart

Space Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 75.31 79.92 81.06 86.31 93.01

Space Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 89.20 89.45 90.12 93.01 0.00

TSE:9622 vs PWR, FIX, EME: E10 Comparison

For the Engineering & Construction subindustry, Space 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.


Space Co Shiller PE Ratio vs Construction Industry

For the Construction industry and Industrials sector, Space Co's Shiller PE Ratio distribution charts can be found below:

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


TSE:9622
88GF Score
Space Co Ltd TSE:9622
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Space 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, Space Co's adjusted earnings per share data for the three months ended in Dec. 2025 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=53.13/113.0000*113.0000
=53.130

Current CPI (Dec. 2025) = 113.0000.

Space Co Quarterly Data

per share eps CPI Adj_EPS
201603 17.773 97.900 20.514
201606 19.218 98.100 22.137
201609 23.749 98.000 27.384
201612 29.025 98.400 33.332
201703 25.970 98.100 29.914
201706 30.883 98.500 35.429
201709 23.930 98.800 27.369
201712 22.300 99.400 25.351
201803 23.790 99.200 27.099
201806 24.898 99.200 28.362
201809 17.734 99.900 20.059
201812 20.390 99.700 23.110
201903 13.860 99.700 15.709
201906 36.069 99.800 40.840
201909 21.210 100.100 23.943
201912 8.674 100.500 9.753
202003 10.410 100.300 11.728
202006 20.230 99.900 22.883
202009 8.008 99.900 9.058
202012 6.902 99.300 7.854
202103 3.240 99.900 3.665
202106 23.033 99.500 26.158
202109 2.280 100.100 2.574
202112 32.760 100.100 36.982
202203 6.600 101.100 7.377
202206 18.180 101.800 20.180
202209 14.490 103.100 15.881
202212 17.440 104.100 18.931
202303 24.540 104.400 26.561
202306 -3.082 105.200 -3.311
202309 12.842 106.200 13.664
202312 34.450 106.800 36.450
202403 39.660 107.200 41.806
202406 22.328 108.200 23.319
202409 10.310 108.900 10.698
202412 31.600 110.700 32.257
202503 45.930 111.100 46.715
202506 26.970 111.700 27.284
202509 27.730 112.000 27.978
202512 53.130 113.000 53.130

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93.01 mean?
Space Co (TSE:9622) has a E10 of 円93.01 as of Dec. 2025. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Space Co and its competitors.
Is Space Co's E10 too high?
Space Co's current E10 is 円93.01. Overall, Space Co has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Space Co's E10 compare to PWR and FIX?
Space Co's E10 of 円93.01 can be compared against companies in the Construction 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 Construction company?
A good E10 depends on the Construction 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 Space Co and its competitors. Space Co's current E10 is 円93.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Space Co stock overvalued right now?
Based on GuruFocus' analysis, Space Co (TSE:9622) is currently considered Fairly Valued. The stock's GF Value™ is 円1,492.97, compared to a current price of 円1,443.00 — trading 3.3% below its estimated fair value. The current E10 is 円93.01. Space Co's overall GF Score™ is 88/100. 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 Space Co (TSE:9622), the current E10 is 円93.01 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 Space Co (TSE:9622) Overvalued in 2026?

Based on GuruFocus' analysis, Space Co stock appears to be undervalued. The current stock price of 円1,443.00 is trading 3.3% below its estimated GF Value™ of 円1,492.97. GuruFocus considers Space Co to be Fairly Valued.

Key valuation signals for TSE:9622:

  • E10: 円93.01
  • GF Value™: 円1,492.97 vs. price of 円1,443.00 (3.3% below fair value)
  • GF Score™: 88/100

No single metric tells the full story. See the TSE:9622 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Space Co Business Description

Other Exchanges SPAEF:USA
Address 3-9-4 Nihonbashi, Ningyo-cho, Tokyo, JPN, 103-0013
Space Co Ltd is engaged in the planning and design, supervision and construction of commercial facilities, including shopping centres, department stores, speciality stores, restaurants, and cafes. In addition, the company is also involved in the planning, design, production, sales and import and export of display equipment and fixtures, indoor and outdoor decorative items.
88GF Score

Get the complete analysis for TSE:9622

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

円1,443.00
Price
円1,492.97
GF Value