Carlson Investments SE (WAR:CAI) E10: zł0.19 (As of Dec. 2025)

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WAR:CAI Carlson Investments SE WAR:CAI
29 GF Score
Price zł2.40
GF Value zł0.94
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Carlson Investments SE E10?

Carlson Investments SE WAR:CAI 29 E10 is zł0.19 as of Dec. 2025. GuruFocus rates WAR:CAI with a GF Score™ of 29/100 and a GF Value™ of zł0.94 (Significantly Overvalued). The stock has 5 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.

Carlson Investments SE's adjusted earnings per share data for the three months ended in Dec. 2025 was zł-0.059. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is zł0.19 for the trailing ten years ended in Dec. 2025.

During the past 12 months, Carlson Investments SE's average E10 Growth Rate was 533.30% 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 Carlson Investments SE was 70.50% per year. The lowest was 29.80% per year. And the median was 50.15% per year.

As of today (2026-07-22), Carlson Investments SE's current stock price is zł2.40. Carlson Investments SE's E10 for the quarter that ended in Dec. 2025 was zł0.19. Carlson Investments SE's Shiller PE Ratio of today is 12.63.

During the past 13 years, the highest Shiller PE Ratio of Carlson Investments SE was 200.00. The lowest was 12.00. And the median was 23.57.


Carlson Investments SE  (WAR:CAI) 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.

Carlson Investments SE's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=2.40/0.19
=12.63

* 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 Carlson Investments SE was 200.00. The lowest was 12.00. And the median was 23.57.


Be Aware

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


Carlson Investments SE E10 Related Terms


Carlson Investments SE E10 Historical Data

* Premium members only.

The historical data trend for Carlson Investments SE'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.

Carlson Investments SE E10 Chart

Carlson Investments SE 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 -0.71 -0.73 -0.58 0.03 0.19

Carlson Investments SE Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 0.03 0.08 0.12 0.15 0.19

WAR:CAI vs BLK, BX, KKR: E10 Comparison

For the Asset Management subindustry, Carlson Investments SE'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.


Carlson Investments SE Shiller PE Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Carlson Investments SE's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Carlson Investments SE's Shiller PE Ratio falls into.


WAR:CAI
29GF Score
Carlson Investments SE WAR:CAI
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Carlson Investments SE 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, Carlson Investments SE'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)
=-0.059/158.3200*158.3200
=-0.059

Current CPI (Dec. 2025) = 158.3200.

Carlson Investments SE Quarterly Data

per share eps CPI Adj_EPS
201603 -0.222 98.983 -0.355
201606 -0.286 99.552 -0.455
201609 -0.135 99.064 -0.216
201612 -0.089 100.366 -0.140
201703 -0.158 101.018 -0.248
201706 -0.236 101.180 -0.369
201709 -0.107 101.343 -0.167
201712 0.716 102.564 1.105
201803 -0.210 102.564 -0.324
201806 0.190 103.378 0.291
201809 -0.155 103.378 -0.237
201812 -0.019 103.785 -0.029
201903 0.329 104.274 0.500
201906 -0.111 105.983 -0.166
201909 -0.126 105.983 -0.188
201912 0.052 107.123 0.077
202003 0.037 109.076 0.054
202006 0.025 109.402 0.036
202009 0.007 109.320 0.010
202012 -1.016 109.565 -1.468
202103 -0.005 112.658 -0.007
202106 -0.215 113.960 -0.299
202109 0.131 115.588 0.179
202112 0.005 119.088 0.007
202203 0.003 125.031 0.004
202206 0.000 131.705 0.000
202209 0.026 135.531 0.030
202212 0.238 139.113 0.271
202303 0.047 145.950 0.051
202306 0.001 147.009 0.001
202309 0.021 146.113 0.023
202312 -0.176 147.741 -0.189
202403 -0.040 149.044 -0.042
202406 -0.406 150.997 -0.426
202409 -0.052 153.439 -0.054
202412 4.731 154.660 4.843
202503 -0.059 157.021 -0.059
202506 -0.114 157.509 -0.115
202509 -0.017 158.000 -0.017
202512 -0.059 158.320 -0.059

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 zł0.19 mean?
Carlson Investments SE (WAR:CAI) has a E10 of zł0.19 as of Dec. 2025. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Carlson Investments SE and its competitors.
Is Carlson Investments SE's E10 too high?
Carlson Investments SE's current E10 is zł0.19. Overall, Carlson Investments SE has a GF Score™ of 29/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Carlson Investments SE's E10 compare to BLK and BX?
Carlson Investments SE's E10 of zł0.19 can be compared against companies in the Asset Management 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 Asset Management company?
A good E10 depends on the Asset Management 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 Carlson Investments SE and its competitors. Carlson Investments SE's current E10 is zł0.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Carlson Investments SE stock overvalued right now?
Based on GuruFocus' analysis, Carlson Investments SE (WAR:CAI) is currently considered Significantly Overvalued. The stock's GF Value™ is zł0.94, compared to a current price of zł2.40 — trading 155.3% above its estimated fair value. The current E10 is zł0.19. Carlson Investments SE's overall GF Score™ is 29/100 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 Carlson Investments SE (WAR:CAI), the current E10 is zł0.19 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 Carlson Investments SE (WAR:CAI) Overvalued in 2026?

Based on GuruFocus' analysis, Carlson Investments SE stock appears to be overvalued. The current stock price of zł2.40 is trading 155.3% above its estimated GF Value™ of zł0.94. GuruFocus considers Carlson Investments SE to be Significantly Overvalued.

Key valuation signals for WAR:CAI:

  • E10: zł0.19
  • GF Value™: zł0.94 vs. price of zł2.40 (155.3% above fair value)
  • GF Score™: 29/100 with 5 warning signs

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


Carlson Investments SE Business Description

Address Sienna 72/6, Warsaw, POL, 00-831
Carlson Investments SE plans to invest capital in early-stage companies, also known as start-ups.
29GF Score

Get the complete analysis for WAR:CAI

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

zł2.40
Price
zł0.94
GF Value