Newag (WAR:NWG) E10: zł3.32 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
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:NWG Newag SA WAR:NWG
97 GF Score
Price zł91.40
GF Value zł69.30
Valuation Significantly Overvalued
View Full Analysis

What is Newag E10?

Newag WAR:NWG -0.44% 97 E10 is zł3.32 as of Mar. 2026. GuruFocus rates WAR:NWG with a GF Score™ of 97/100 and a GF Value™ of zł69.30 (Significantly Overvalued).

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.

Newag's adjusted earnings per share data for the three months ended in Mar. 2026 was zł1.290. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is zł3.32 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Newag's average E10 Growth Rate was 30.20% per year. During the past 3 years, the average E10 Growth Rate was 13.60% 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 Newag was 13.60% per year. The lowest was 13.60% per year. And the median was 13.60% per year.

As of today (2026-07-15), Newag's current stock price is zł91.40. Newag's E10 for the quarter that ended in Mar. 2026 was zł3.32. Newag's Shiller PE Ratio of today is 27.53.

During the past 13 years, the highest Shiller PE Ratio of Newag was 41.64. The lowest was 6.43. And the median was 14.91.


Newag  (WAR:NWG) 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.

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

Shiller PE Ratio=Share Price/E10
=91.40/3.32
=27.53

* 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 Newag was 41.64. The lowest was 6.43. And the median was 14.91.


Be Aware

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


Newag E10 Related Terms


Newag E10 Historical Data

* Premium members only.

The historical data trend for Newag'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.

Newag E10 Chart

Newag 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 0.00 2.08 2.31 2.42 3.05

Newag 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 2.55 2.73 3.07 3.05 3.32

WAR:NWG vs UNP, CSX, NSC: E10 Comparison

For the Railroads subindustry, Newag'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.


Newag Shiller PE Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Newag's Shiller PE Ratio distribution charts can be found below:

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


WAR:NWG
97GF Score
Newag SA WAR:NWG
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Newag 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, Newag'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)
=1.29/163.0700*163.0700
=1.290

Current CPI (Mar. 2026) = 163.0700.

Newag Quarterly Data

per share eps CPI Adj_EPS
201606 0.250 99.552 0.410
201609 -0.010 99.064 -0.016
201612 0.340 100.366 0.552
201703 0.220 101.018 0.355
201706 -0.230 101.180 -0.371
201709 0.050 101.343 0.080
201712 0.630 102.564 1.002
201803 -0.060 102.564 -0.095
201806 0.350 103.378 0.552
201809 0.090 103.378 0.142
201812 1.690 103.785 2.655
201903 -0.030 104.274 -0.047
201906 0.300 105.983 0.462
201909 0.510 105.983 0.785
201912 1.200 107.123 1.827
202003 0.720 109.076 1.076
202006 0.652 109.402 0.972
202009 1.127 109.320 1.681
202012 2.360 109.565 3.512
202103 0.630 112.658 0.912
202106 0.144 113.960 0.206
202109 0.862 115.588 1.216
202112 0.010 119.088 0.014
202203 0.010 125.031 0.013
202206 -0.130 131.705 -0.161
202209 0.140 135.531 0.168
202212 0.490 139.113 0.574
202303 0.580 145.950 0.648
202306 0.320 147.009 0.355
202309 0.010 146.113 0.011
202312 1.200 147.741 1.325
202403 0.330 149.044 0.361
202406 0.710 150.997 0.767
202409 1.010 153.439 1.073
202412 0.690 154.660 0.728
202503 1.170 157.021 1.215
202506 1.710 157.509 1.770
202509 3.410 158.000 3.519
202512 1.630 158.320 1.679
202603 1.290 163.070 1.290

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 zł3.32 mean?
Newag (WAR:NWG) has a E10 of zł3.32 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Newag and its competitors.
Is Newag's E10 too high?
Newag's current E10 is zł3.32. Overall, Newag has a GF Score™ of 97/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Newag's E10 compare to UNP and CSX?
Newag's E10 of zł3.32 can be compared against companies in the Transportation 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 Transportation company?
A good E10 depends on the Transportation 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 Newag and its competitors. Newag's current E10 is zł3.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Newag stock overvalued right now?
Based on GuruFocus' analysis, Newag (WAR:NWG) is currently considered Significantly Overvalued. The stock's GF Value™ is zł69.30, compared to a current price of zł91.40 — trading 31.9% above its estimated fair value. The current E10 is zł3.32. Newag's overall GF Score™ is 97/100. 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 Newag (WAR:NWG), the current E10 is zł3.32 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 Newag (WAR:NWG) Overvalued in 2026?

Based on GuruFocus' analysis, Newag stock appears to be overvalued. The current stock price of zł91.40 is trading 31.9% above its estimated GF Value™ of zł69.30. GuruFocus considers Newag to be Significantly Overvalued.

Key valuation signals for WAR:NWG:

  • E10: zł3.32
  • GF Value™: zł69.30 vs. price of zł91.40 (31.9% above fair value)
  • GF Score™: 97/100

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


Newag Business Description

Other Exchanges N0GA:Germany
Address ul. Wyspiań­skiego 3, 33–300, Nowy Sacz, POL
Newag SA is a Poland-based company engaged in heavy machinery sector. The Company operations are divided into four segments: the Electric and Diesel Multiple Units segment produces electric MUs for electrified railway lines of passenger transportation.
97GF Score

Get the complete analysis for WAR:NWG

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

zł91.40
Price
zł69.30
GF Value