Varsav Game Studios (WAR:VAR) E10: zł-0.07 (As of Mar. 2026)


WAR:VAR Varsav Game Studios SA WAR:VAR
53 GF Score
Price zł0.44
GF Value zł0.69
Valuation Possible Value Trap
! 5 Warning Signs
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What is Varsav Game Studios E10?

Varsav Game Studios WAR:VAR 53 E10 is zł-0.07 as of Mar. 2026. GuruFocus rates WAR:VAR with a GF Score™ of 53/100 and a GF Value™ of zł0.69 (Possible Value Trap). 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.

Varsav Game Studios's adjusted earnings per share data for the three months ended in Mar. 2026 was zł0.007. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is zł-0.07 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 (2026-07-06), Varsav Game Studios's current stock price is zł0.44. Varsav Game Studios's E10 for the quarter that ended in Mar. 2026 was zł-0.07. Varsav Game Studios's Shiller PE Ratio of today is .


Varsav Game Studios  (WAR:VAR) 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.


Varsav Game Studios E10 Related Terms


Varsav Game Studios E10 Historical Data

* Premium members only.

The historical data trend for Varsav Game Studios'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.

Varsav Game Studios E10 Chart

Varsav Game Studios 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 -0.04 -0.06 -0.04 -0.04 -0.06

Varsav Game Studios 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 -0.05 -0.05 -0.06 -0.06 -0.07

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

For the Electronic Gaming & Multimedia subindustry, Varsav Game Studios'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.


Varsav Game Studios Shiller PE Ratio vs Interactive Media Industry

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

* The bar in red indicates where Varsav Game Studios's Shiller PE Ratio falls into.


WAR:VAR
53GF Score
Varsav Game Studios SA WAR:VAR
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Varsav Game Studios 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, Varsav Game Studios'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)
=0.007/163.0700*163.0700
=0.007

Current CPI (Mar. 2026) = 163.0700.

Varsav Game Studios Quarterly Data

per share eps CPI Adj_EPS
201606 -0.016 99.552 -0.026
201609 -0.006 99.064 -0.010
201612 -0.016 100.366 -0.026
201703 0.027 101.018 0.044
201706 -0.028 101.180 -0.045
201709 -0.021 101.343 -0.034
201712 -0.063 102.564 -0.100
201803 -0.008 102.564 -0.013
201806 -0.016 103.378 -0.025
201809 -0.056 103.378 -0.088
201812 -0.076 103.785 -0.119
201903 0.010 104.274 0.016
201906 -0.011 105.983 -0.017
201909 -0.091 105.983 -0.140
201912 0.206 107.123 0.314
202003 -0.017 109.076 -0.025
202006 0.006 109.402 0.009
202009 0.122 109.320 0.182
202012 -0.020 109.565 -0.030
202103 -0.019 112.658 -0.028
202106 0.034 113.960 0.049
202109 0.004 115.588 0.006
202112 -0.112 119.088 -0.153
202203 -0.062 125.031 -0.081
202206 -0.054 131.705 -0.067
202209 0.010 135.531 0.012
202212 -0.019 139.113 -0.022
202303 -0.013 145.950 -0.015
202306 0.024 147.009 0.027
202309 -0.007 146.113 -0.008
202312 -0.271 147.741 -0.299
202403 0.013 149.044 0.014
202406 -0.011 150.997 -0.012
202409 0.036 153.439 0.038
202412 -0.015 154.660 -0.016
202503 -0.023 157.021 -0.024
202506 0.020 157.509 0.021
202509 0.001 158.000 0.001
202512 0.022 158.320 0.023
202603 0.007 163.070 0.007

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-0.07 mean?
Varsav Game Studios (WAR:VAR) has a E10 of zł-0.07 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Varsav Game Studios and its competitors.
Is Varsav Game Studios' E10 too high?
Varsav Game Studios' current E10 is zł-0.07. Overall, Varsav Game Studios has a GF Score™ of 53/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Varsav Game Studios' E10 compare to NTES and EA?
Varsav Game Studios' E10 of zł-0.07 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 Varsav Game Studios and its competitors. Varsav Game Studios's current E10 is zł-0.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Varsav Game Studios stock overvalued right now?
Based on GuruFocus' analysis, Varsav Game Studios (WAR:VAR) is currently considered Possible Value Trap. The stock's GF Value™ is zł0.69, compared to a current price of zł0.44 — trading 36.2% below its estimated fair value. The current E10 is zł-0.07. Varsav Game Studios' overall GF Score™ is 53/100 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 Varsav Game Studios (WAR:VAR), the current E10 is zł-0.07 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 Varsav Game Studios (WAR:VAR) Overvalued in 2026?

Based on GuruFocus' analysis, Varsav Game Studios stock appears to be undervalued. The current stock price of zł0.44 is trading 36.2% below its estimated GF Value™ of zł0.69. GuruFocus considers Varsav Game Studios to be Possible Value Trap.

Key valuation signals for WAR:VAR:

  • E10: zł-0.07
  • GF Value™: zł0.69 vs. price of zł0.44 (36.2% below fair value)
  • GF Score™: 53/100 with 5 warning signs

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


Varsav Game Studios Business Description

Address Aleje Jerozolimskie 123A, Warsaw, POL, 02-017
Varsav Game Studios SA is a Poland-based company. It is mainly engaged in the production of PC and mobile games and applications. The company offers various services to the gaming industry, including portfolio building and providing technological and financial support. Games developed by the company include Bee Simulator, AR Kicker, Crowd Dragons, Metamorphosis, and Interkosmos.
53GF Score

Get the complete analysis for WAR:VAR

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

zł0.44
Price
zł0.69
GF Value