Munar (WAR:MUN) E10: zł-0.26 (As of Mar. 2026)


WAR:MUN Munar SA WAR:MUN
35 GF Score
Price zł0.33
GF Value zł0.04
Valuation Significantly Overvalued
! 1 Warning Sign
View Full Analysis

What is Munar E10?

Munar WAR:MUN +6.54% 35 E10 is zł-0.26 as of Mar. 2026. GuruFocus rates WAR:MUN with a GF Score™ of 35/100 and a GF Value™ of zł0.04 (Significantly 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.

Munar's adjusted earnings per share data for the three months ended in Mar. 2026 was zł-0.001. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is zł-0.26 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 (2026-06-28), Munar's current stock price is zł0.326. Munar's E10 for the quarter that ended in Mar. 2026 was zł-0.26. Munar's Shiller PE Ratio of today is .

During the past 13 years, the highest Shiller PE Ratio of Munar was 38.46. The lowest was 1.62. And the median was 16.80.


Munar  (WAR:MUN) 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.

During the past 13 years, the highest Shiller P/E Ratio of Munar was 38.46. The lowest was 1.62. And the median was 16.80.


Be Aware

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


Munar E10 Related Terms


Munar E10 Historical Data

* Premium members only.

The historical data trend for Munar'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.

Munar E10 Chart

Munar 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 0.10 0.57 -0.05 -0.04 -0.26

Munar 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 -0.04 -0.61 -0.58 -0.26 -0.26

WAR:MUN vs NTES, EA, TTWO: E10 Comparison

For the Electronic Gaming & Multimedia subindustry, Munar'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.


Munar Shiller PE Ratio vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Munar's Shiller PE Ratio distribution charts can be found below:

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


WAR:MUN
35GF Score
Munar SA WAR:MUN
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Munar 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, Munar'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)
=-0.001/158.3232*158.3232
=-0.001

Current CPI (Mar. 2026) = 158.3232.

Munar Quarterly Data

per share eps CPI Adj_EPS
201606 -0.017 99.552 -0.027
201609 0.030 99.064 0.048
201612 -0.018 100.366 -0.028
201703 0.007 101.018 0.011
201706 -0.011 101.180 -0.017
201709 -0.270 101.343 -0.422
201712 -0.001 102.564 -0.002
201803 -0.021 102.564 -0.032
201806 0.021 103.378 0.032
201809 -0.028 103.378 -0.043
201812 -1.006 103.785 -1.535
201903 -0.014 104.274 -0.021
201906 -0.007 105.983 -0.010
201909 0.029 105.983 0.043
201912 -0.001 107.123 -0.001
202003 0.009 109.076 0.013
202006 0.009 109.402 0.013
202009 0.000 109.320 0.000
202012 -0.103 109.565 -0.149
202103 0.003 112.658 0.004
202106 -0.018 113.960 -0.025
202109 -0.030 115.588 -0.041
202112 -0.016 119.088 -0.021
202203 -0.004 125.031 -0.005
202206 -0.011 131.705 -0.013
202209 0.016 135.531 0.019
202212 -0.019 139.113 -0.022
202303 -0.005 145.950 -0.005
202306 0.022 147.009 0.024
202309 0.001 146.113 0.001
202312 -0.293 147.741 -0.314
202403 -0.011 149.044 -0.012
202406 0.050 150.997 0.052
202409 -0.012 153.439 -0.012
202412 -0.045 154.660 -0.046
202503 -0.005 157.021 -0.005
202506 -0.006 157.509 -0.006
202509 -0.009 157.998 -0.009
202512 -0.009 158.323 -0.009
202603 -0.001 158.323 -0.001

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-0.26 mean?
Munar (WAR:MUN) has a E10 of zł-0.26 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Munar and its competitors.
Is Munar's E10 too high?
Munar's current E10 is zł-0.26. Overall, Munar has a GF Score™ of 35/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Munar's E10 compare to NTES and EA?
Munar's E10 of zł-0.26 can be compared against companies in the Interactive Media 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 Interactive Media company?
A good E10 depends on the Interactive Media 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 Munar and its competitors. Munar's current E10 is zł-0.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Munar stock overvalued right now?
Based on GuruFocus' analysis, Munar (WAR:MUN) is currently considered Significantly Overvalued. The stock's GF Value™ is zł0.04, compared to a current price of zł0.33 — trading 715% above its estimated fair value. The current E10 is zł-0.26. Munar's overall GF Score™ is 35/100 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 Munar (WAR:MUN), the current E10 is zł-0.26 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 Munar (WAR:MUN) Overvalued in 2026?

Based on GuruFocus' analysis, Munar stock appears to be overvalued. The current stock price of zł0.33 is trading 715% above its estimated GF Value™ of zł0.04. GuruFocus considers Munar to be Significantly Overvalued.

Key valuation signals for WAR:MUN:

  • E10: zł-0.26
  • GF Value™: zł0.04 vs. price of zł0.33 (715% above fair value)
  • GF Score™: 35/100 with 1 warning sign

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


Munar Business Description

Address ul. Lesny Jar 21, Olszewnica Stara, Warszawa, POL, 05-123
Munar SA formerly No Gravity Games SA is engaged in publishing games in the international markets on Steam, mobile platforms, Nintendo Switch and Xbox One.
35GF Score

Get the complete analysis for WAR:MUN

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

zł0.33
Price
zł0.04
GF Value