Vestas Wind Systems AS (WAR:VEST) E10: zł1.95 (As of Jun. 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:VEST Vestas Wind Systems AS WAR:VEST
63 GF Score
Price zł123.15
GF Value zł105.53
Valuation Modestly Overvalued
! 7 Warning Signs
View Full Analysis

What is Vestas Wind Systems AS E10?

Vestas Wind Systems AS WAR:VEST 63 E10 is zł1.95 as of Jun. 2026. GuruFocus rates WAR:VEST with a GF Score™ of 63/100 and a GF Value™ of zł105.53 (Modestly Overvalued). The stock has 7 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.

Vestas Wind Systems AS's adjusted earnings per share data for the three months ended in Jun. 2026 was zł1.214. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is zł1.95 for the trailing ten years ended in Jun. 2026.

During the past 12 months, Vestas Wind Systems AS's average E10 Growth Rate was 6.50% per year. During the past 3 years, the average E10 Growth Rate was 4.40% 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 Vestas Wind Systems AS was 23.80% per year. The lowest was 4.40% per year. And the median was 8.00% per year.

As of today (2026-09-15), Vestas Wind Systems AS's current stock price is zł123.15. Vestas Wind Systems AS's E10 for the quarter that ended in Jun. 2026 was zł1.95. Vestas Wind Systems AS's Shiller PE Ratio of today is 63.15.

During the past 13 years, the highest Shiller PE Ratio of Vestas Wind Systems AS was 128.04. The lowest was 27.82. And the median was 58.34.


Vestas Wind Systems AS  (WAR:VEST) 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.

Vestas Wind Systems AS's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=123.15/1.95
=63.15

* 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 Vestas Wind Systems AS was 128.04. The lowest was 27.82. And the median was 58.34.


Be Aware

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


Vestas Wind Systems AS E10 Related Terms


Vestas Wind Systems AS E10 Historical Data

* Premium members only.

The historical data trend for Vestas Wind Systems AS'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.

Vestas Wind Systems AS E10 Chart

Vestas Wind Systems AS 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 0.00 0.00 0.00 2.01

Vestas Wind Systems AS Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 2.11 1.97 2.01 1.72 1.95

WAR:VEST vs GEV, ETN, PH: E10 Comparison

For the Specialty Industrial Machinery subindustry, Vestas Wind Systems AS'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.


Vestas Wind Systems AS Shiller PE Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Vestas Wind Systems AS's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Vestas Wind Systems AS's Shiller PE Ratio falls into.


WAR:VEST
63GF Score
Vestas Wind Systems AS WAR:VEST
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vestas Wind Systems AS 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, Vestas Wind Systems AS's adjusted earnings per share data for the three months ended in Jun. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=1.214/122.9700*122.9700
=1.214

Current CPI (Jun. 2026) = 122.9700.

Vestas Wind Systems AS Quarterly Data

per share eps CPI Adj_EPS
201609 1.183 100.200 1.452
201612 1.247 100.300 1.529
201703 0.604 101.200 0.734
201706 0.736 101.200 0.894
201709 1.068 101.800 1.290
201712 1.247 101.300 1.514
201803 0.464 101.700 0.561
201806 0.809 102.300 0.972
201809 0.773 102.400 0.928
201812 0.942 102.100 1.135
201903 0.111 102.900 0.133
201906 0.383 102.900 0.458
201909 1.268 102.900 1.515
201912 1.204 102.900 1.439
202003 -0.013 103.300 -0.015
202006 -0.042 103.200 -0.050
202009 1.285 103.500 1.527
202012 2.610 103.400 3.104
202103 -0.314 104.300 -0.370
202106 0.363 105.000 0.425
202109 0.487 105.800 0.566
202112 0.000 106.600 0.000
202203 -3.150 109.900 -3.525
202206 -0.477 113.600 -0.516
202209 -0.559 116.400 -0.591
202212 -2.113 115.900 -2.242
202303 0.040 117.300 0.042
202306 -0.489 116.400 -0.517
202309 0.120 117.400 0.126
202312 0.616 116.700 0.649
202403 -0.286 118.400 -0.297
202406 -0.648 118.500 -0.672
202409 0.543 118.900 0.562
202412 2.325 118.900 2.405
202503 0.000 120.200 0.000
202506 0.130 120.700 0.132
202509 1.325 121.600 1.340
202512 1.895 121.200 1.923
202603 0.348 121.680 0.352
202606 1.214 122.970 1.214

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 zł1.95 mean?
Vestas Wind Systems AS (WAR:VEST) has a E10 of zł1.95 as of Jun. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Vestas Wind Systems AS and its competitors.
Is Vestas Wind Systems AS's E10 too high?
Vestas Wind Systems AS's current E10 is zł1.95. Overall, Vestas Wind Systems AS has a GF Score™ of 63/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vestas Wind Systems AS's E10 compare to GEV and ETN?
Vestas Wind Systems AS's E10 of zł1.95 can be compared against companies in the Industrial Products 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 Industrial Products company?
A good E10 depends on the Industrial Products 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 Vestas Wind Systems AS and its competitors. Vestas Wind Systems AS's current E10 is zł1.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vestas Wind Systems AS stock overvalued right now?
Based on GuruFocus' analysis, Vestas Wind Systems AS (WAR:VEST) is currently considered Modestly Overvalued. The stock's GF Value™ is zł105.53, compared to a current price of zł123.15 — trading 16.7% above its estimated fair value. The current E10 is zł1.95. Vestas Wind Systems AS's overall GF Score™ is 63/100 with 7 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 Vestas Wind Systems AS (WAR:VEST), the current E10 is zł1.95 as of Jun. 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 Vestas Wind Systems AS (WAR:VEST) Overvalued in 2026?

Based on GuruFocus' analysis, Vestas Wind Systems AS stock appears to be overvalued. The current stock price of zł123.15 is trading 16.7% above its estimated GF Value™ of zł105.53. GuruFocus considers Vestas Wind Systems AS to be Modestly Overvalued.

Key valuation signals for WAR:VEST:

  • E10: zł1.95
  • GF Value™: zł105.53 vs. price of zł123.15 (16.7% above fair value)
  • GF Score™: 63/100 with 7 warning signs

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


Vestas Wind Systems AS Business Description

Address Hedeager 42, Aarhus, DNK, 8200
Vestas is a leading manufacturer of wind turbines with the highest installed capacity under service in the world. The firm operates two business segments: power solutions and services. The power solutions segment designs, manufactures, and installs onshore and offshore wind turbines. The services segment performs operating and maintenance service work on wind turbines.
63GF Score

Get the complete analysis for WAR:VEST

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

zł123.15
Price
zł105.53
GF Value