P A Nova (WAR:NVA) E10: zł3.28 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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.
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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.

WAR:NVA P A Nova SA WAR:NVA
85 GF Score
Price zł17.65
GF Value zł14.14
Valuation Modestly Overvalued
! 9 Warning Signs
View Full Analysis

What is P A Nova E10?

P A Nova WAR:NVA 85 E10 is zł3.28 as of Mar. 2026. GuruFocus rates WAR:NVA with a GF Score™ of 85/100 and a GF Value™ of zł14.14 (Modestly Overvalued). The stock has 9 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.

P A Nova's adjusted earnings per share data for the three months ended in Mar. 2026 was zł0.910. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is zł3.28 for the trailing ten years ended in Mar. 2026.

During the past 12 months, P A Nova's average E10 Growth Rate was 1.50% per year. During the past 3 years, the average E10 Growth Rate was 5.10% 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 P A Nova was 10.40% per year. The lowest was 3.90% per year. And the median was 6.00% per year.

As of today (2026-07-21), P A Nova's current stock price is zł17.65. P A Nova's E10 for the quarter that ended in Mar. 2026 was zł3.28. P A Nova's Shiller PE Ratio of today is 5.38.

During the past 13 years, the highest Shiller PE Ratio of P A Nova was 11.12. The lowest was 3.80. And the median was 5.24.


P A Nova  (WAR:NVA) 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.

P A Nova's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=17.65/3.28
=5.38

* 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 P A Nova was 11.12. The lowest was 3.80. And the median was 5.24.


Be Aware

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


P A Nova E10 Related Terms


P A Nova E10 Historical Data

* Premium members only.

The historical data trend for P A Nova'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.

P A Nova E10 Chart

P A Nova 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 2.37 2.76 0.00 3.19 3.20

P A Nova 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 3.23 3.21 3.23 3.20 3.28

WAR:NVA vs PWR, FIX, EME: E10 Comparison

For the Engineering & Construction subindustry, P A Nova'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.


P A Nova Shiller PE Ratio vs Construction Industry

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

* The bar in red indicates where P A Nova's Shiller PE Ratio falls into.


WAR:NVA
85GF Score
P A Nova SA WAR:NVA
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

P A Nova 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, P A Nova'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)
=0.91/163.0700*163.0700
=0.910

Current CPI (Mar. 2026) = 163.0700.

P A Nova Quarterly Data

per share eps CPI Adj_EPS
201606 0.860 99.552 1.409
201609 0.551 99.064 0.907
201612 0.643 100.366 1.045
201703 0.580 101.018 0.936
201706 0.890 101.180 1.434
201709 0.936 101.343 1.506
201712 -0.545 102.564 -0.867
201803 1.090 102.564 1.733
201806 0.183 103.378 0.289
201809 0.553 103.378 0.872
201812 -0.054 103.785 -0.085
201903 0.860 104.274 1.345
201906 0.881 105.983 1.356
201909 0.771 105.983 1.186
201912 1.102 107.123 1.678
202003 0.660 109.076 0.987
202006 0.045 109.402 0.067
202009 0.679 109.320 1.013
202012 0.049 109.565 0.073
202103 0.180 112.658 0.261
202106 0.295 113.960 0.422
202109 0.691 115.588 0.975
202112 0.946 119.088 1.295
202203 0.550 125.031 0.717
202206 0.559 131.705 0.692
202209 0.096 135.531 0.116
202212 1.087 139.113 1.274
202303 1.910 145.950 2.134
202306 0.560 147.009 0.621
202309 0.980 146.113 1.094
202312 0.000 147.741 0.000
202403 0.360 149.044 0.394
202406 0.970 150.997 1.048
202409 0.440 153.439 0.468
202412 0.405 154.660 0.427
202503 0.630 157.021 0.654
202506 0.520 157.509 0.538
202509 0.650 158.000 0.671
202512 0.410 158.320 0.422
202603 0.910 163.070 0.910

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 zł3.28 mean?
P A Nova (WAR:NVA) has a E10 of zł3.28 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on P A Nova and its competitors.
Is P A Nova's E10 too high?
P A Nova's current E10 is zł3.28. Overall, P A Nova has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does P A Nova's E10 compare to PWR and FIX?
P A Nova's E10 of zł3.28 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 P A Nova and its competitors. P A Nova's current E10 is zł3.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is P A Nova stock overvalued right now?
Based on GuruFocus' analysis, P A Nova (WAR:NVA) is currently considered Modestly Overvalued. The stock's GF Value™ is zł14.14, compared to a current price of zł17.65 — trading 24.8% above its estimated fair value. The current E10 is zł3.28. P A Nova's overall GF Score™ is 85/100 with 9 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 P A Nova (WAR:NVA), the current E10 is zł3.28 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 P A Nova (WAR:NVA) Overvalued in 2026?

Based on GuruFocus' analysis, P A Nova stock appears to be overvalued. The current stock price of zł17.65 is trading 24.8% above its estimated GF Value™ of zł14.14. GuruFocus considers P A Nova to be Modestly Overvalued.

Key valuation signals for WAR:NVA:

  • E10: zł3.28
  • GF Value™: zł14.14 vs. price of zł17.65 (24.8% above fair value)
  • GF Score™: 85/100 with 9 warning signs

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


P A Nova Business Description

Address ul. Upper Ramparts 42, Gliwice, POL, 44-100
P A Nova SA is a Poland based company engaged in offering services in the implementation of construction projects. Its portfolio includes commercial properties for retail chains, industrial halls, warehouses, petrol stations, shopping centres and commercial parks, bus and train stations, schools, sports fields, houses, and roads.
85GF Score

Get the complete analysis for WAR:NVA

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

zł17.65
Price
zł14.14
GF Value