Fon SE (WAR:FON) E10: zł-2.57 (As of Mar. 2026)


WAR:FON Fon SE WAR:FON
70 GF Score
Price zł1.80
GF Value zł2.66
Valuation Possible Value Trap
! 3 Warning Signs
View Full Analysis

What is Fon SE E10?

Fon SE WAR:FON 70 E10 is zł-2.57 as of Mar. 2026. GuruFocus rates WAR:FON with a GF Score™ of 70/100 and a GF Value™ of zł2.66 (Possible Value Trap). 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.

Fon SE's adjusted earnings per share data for the three months ended in Mar. 2026 was zł0.060. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is zł-2.57 for the trailing ten years ended in Mar. 2026.

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.

As of today (2026-07-05), Fon SE's current stock price is zł1.80. Fon SE's E10 for the quarter that ended in Mar. 2026 was zł-2.57. Fon SE's Shiller PE Ratio of today is .


Fon SE  (WAR:FON) 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.


Be Aware

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


Fon SE E10 Related Terms


Fon SE E10 Historical Data

* Premium members only.

The historical data trend for Fon 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.

Fon SE E10 Chart

Fon SE Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Jun21 Jun22 Jun23 Jun24 Jun25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 -3.79 -2.83 -2.44 0.00

Fon SE 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 -2.42 0.00 -2.55 -2.54 -2.57

WAR:FON vs V, MA, AXP: E10 Comparison

For the Credit Services subindustry, Fon 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.


Fon SE Shiller PE Ratio vs Credit Services Industry

For the Credit Services industry and Financial Services sector, Fon SE's Shiller PE Ratio distribution charts can be found below:

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


WAR:FON
70GF Score
Fon SE WAR:FON
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Fon 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, Fon SE'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)
=0.06/330.2130*330.2130
=0.060

Current CPI (Mar. 2026) = 330.2130.

Fon SE Quarterly Data

per share eps CPI Adj_EPS
201509 -12.292 237.945 -17.058
201512 -2.771 236.525 -3.869
201603 -0.096 238.132 -0.133
201606 -0.185 241.018 -0.253
201609 -0.319 241.428 -0.436
201612 0.103 241.432 0.141
201703 0.045 243.801 0.061
201706 0.002 244.955 0.003
201709 -0.140 246.819 -0.187
201712 -1.207 246.524 -1.617
201803 -0.108 249.554 -0.143
201806 -0.281 251.989 -0.368
201809 -0.033 252.439 -0.043
201812 -0.865 251.233 -1.137
201903 0.000 254.202 0.000
201906 0.000 256.143 0.000
201909 -0.013 256.759 -0.017
202009 0.014 260.280 0.018
202012 0.022 260.474 0.028
202103 -0.005 264.877 -0.006
202106 0.033 271.696 0.040
202109 0.033 274.310 0.040
202112 0.020 278.802 0.024
202203 0.061 287.504 0.070
202206 0.019 296.311 0.021
202209 0.127 296.808 0.141
202212 0.047 296.797 0.052
202303 0.058 301.836 0.063
202306 0.063 305.109 0.068
202309 0.063 307.789 0.068
202312 0.063 306.746 0.068
202403 0.064 312.332 0.068
202406 0.062 314.175 0.065
202409 0.065 315.301 0.068
202412 0.065 315.605 0.068
202503 0.073 319.799 0.075
202506 0.000 322.561 0.000
202509 0.088 324.800 0.089
202512 0.060 324.054 0.061
202603 0.060 330.213 0.060

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 zł-2.57 mean?
Fon SE (WAR:FON) has a E10 of zł-2.57 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Fon SE and its competitors.
Is Fon SE's E10 too high?
Fon SE's current E10 is zł-2.57. Overall, Fon SE has a GF Score™ of 70/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Fon SE's E10 compare to V and MA?
Fon SE's E10 of zł-2.57 can be compared against companies in the Credit Services 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 Credit Services company?
A good E10 depends on the Credit Services 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 Fon SE and its competitors. Fon SE's current E10 is zł-2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fon SE stock overvalued right now?
Based on GuruFocus' analysis, Fon SE (WAR:FON) is currently considered Possible Value Trap. The stock's GF Value™ is zł2.66, compared to a current price of zł1.80 — trading 32.3% below its estimated fair value. The current E10 is zł-2.57. Fon SE's overall GF Score™ is 70/100 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 Fon SE (WAR:FON), the current E10 is zł-2.57 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 Fon SE (WAR:FON) Overvalued in 2026?

Based on GuruFocus' analysis, Fon SE stock appears to be undervalued. The current stock price of zł1.80 is trading 32.3% below its estimated GF Value™ of zł2.66. GuruFocus considers Fon SE to be Possible Value Trap.

Key valuation signals for WAR:FON:

  • E10: zł-2.57
  • GF Value™: zł2.66 vs. price of zł1.80 (32.3% below fair value)
  • GF Score™: 70/100 with 3 warning signs

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


Fon SE Business Description

Address Tornimae Str 5, Harju County, Kesklinna Linnaosa, Tallinn, EST, 10145
Fon SE is engaged in financial activities and capital investments. The company offers medium-term cash loans to retail clients and small businesses and generates revenue through interest on loans granted. Geographically, it derives a majority of its revenue from its customers in Poland and the rest from Estonia.
70GF Score

Get the complete analysis for WAR:FON

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

zł1.80
Price
zł2.66
GF Value