Volkswagen AG (WAR:VOW) E10: zł113.28 (As of Mar. 2026)

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Director of Data and Quant Analytics at GuruFocus
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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:VOW Volkswagen AG WAR:VOW
87 GF Score
Price zł319.10
GF Value zł441.21
Valuation Modestly Undervalued
! 8 Warning Signs
View Full Analysis

What is Volkswagen AG E10?

Volkswagen AG WAR:VOW 87 E10 is zł113.28 as of Mar. 2026. GuruFocus rates WAR:VOW with a GF Score™ of 87/100 and a GF Value™ of zł441.21 (Modestly Undervalued). The stock has 8 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.

Volkswagen AG's adjusted earnings per share data for the three months ended in Mar. 2026 was zł11.182. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is zł113.28 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Volkswagen AG's average E10 Growth Rate was 10.40% per year. During the past 3 years, the average E10 Growth Rate was 5.50% per year. During the past 5 years, the average E10 Growth Rate was 2.50% per year. During the past 10 years, the average E10 Growth Rate was 3.40% 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 Volkswagen AG was 7.90% per year. The lowest was -0.90% per year. And the median was 3.35% per year.

As of today (2026-07-18), Volkswagen AG's current stock price is zł319.10. Volkswagen AG's E10 for the quarter that ended in Mar. 2026 was zł113.28. Volkswagen AG's Shiller PE Ratio of today is 2.82.

During the past 13 years, the highest Shiller PE Ratio of Volkswagen AG was 10.46. The lowest was 2.72. And the median was 6.36.


Volkswagen AG  (WAR:VOW) 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.

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

Shiller PE Ratio=Share Price/E10
=319.10/113.28
=2.82

* 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 Volkswagen AG was 10.46. The lowest was 2.72. And the median was 6.36.


Be Aware

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


Volkswagen AG E10 Related Terms


Volkswagen AG E10 Historical Data

* Premium members only.

The historical data trend for Volkswagen AG'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.

Volkswagen AG E10 Chart

Volkswagen AG 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 0.00 102.78 98.78 110.00

Volkswagen AG 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 99.53 100.18 102.35 110.00 113.28

WAR:VOW vs TSLA, GM, F: E10 Comparison

For the Auto Manufacturers subindustry, Volkswagen AG'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.


Volkswagen AG Shiller PE Ratio vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Volkswagen AG's Shiller PE Ratio distribution charts can be found below:

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


WAR:VOW
87GF Score
Volkswagen AG WAR:VOW
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Volkswagen AG 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, Volkswagen AG'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)
=11.182/131.2583*131.2583
=11.182

Current CPI (Mar. 2026) = 131.2583.

Volkswagen AG Quarterly Data

per share eps CPI Adj_EPS
201606 9.802 100.717 12.774
201609 19.327 101.017 25.113
201612 -4.721 101.217 -6.122
201703 26.734 101.417 34.600
201706 25.827 102.117 33.197
201709 8.906 102.717 11.381
201712 34.339 102.617 43.923
201803 29.933 102.917 38.176
201806 28.537 104.017 36.011
201809 23.546 104.718 29.514
201812 23.302 104.217 29.348
201903 24.773 104.217 31.201
201906 33.902 105.718 42.093
201909 31.581 106.018 39.100
201912 22.548 105.818 27.969
202003 3.269 105.718 4.059
202006 -13.797 106.618 -16.986
202009 23.098 105.818 28.651
202012 64.002 105.518 79.615
202103 29.125 107.518 35.556
202106 44.328 108.486 53.633
202109 24.588 109.435 29.491
202112 34.030 110.384 40.465
202203 54.682 113.968 62.978
202206 29.911 115.760 33.915
202209 14.684 118.818 16.221
202212 20.934 119.345 23.024
202303 33.991 122.402 36.450
202306 26.629 123.140 28.384
202309 31.413 124.195 33.200
202312 37.972 123.773 40.268
202403 26.758 125.038 28.089
202406 25.110 125.882 26.183
202409 10.019 126.198 10.421
202412 25.459 127.041 26.304
202503 14.885 127.779 15.290
202506 18.987 128.412 19.408
202509 -4.274 129.255 -4.340
202512 27.937 129.361 28.347
202603 11.182 131.258 11.182

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 zł113.28 mean?
Volkswagen AG (WAR:VOW) has a E10 of zł113.28 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Volkswagen AG and its competitors.
Is Volkswagen AG's E10 too high?
Volkswagen AG's current E10 is zł113.28. Overall, Volkswagen AG has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Volkswagen AG's E10 compare to TSLA and GM?
Volkswagen AG's E10 of zł113.28 can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good E10 depends on the Vehicles & Parts 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 Volkswagen AG and its competitors. Volkswagen AG's current E10 is zł113.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Volkswagen AG stock overvalued right now?
Based on GuruFocus' analysis, Volkswagen AG (WAR:VOW) is currently considered Modestly Undervalued. The stock's GF Value™ is zł441.21, compared to a current price of zł319.10 — trading 27.7% below its estimated fair value. The current E10 is zł113.28. Volkswagen AG's overall GF Score™ is 87/100 with 8 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 Volkswagen AG (WAR:VOW), the current E10 is zł113.28 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 Volkswagen AG (WAR:VOW) Overvalued in 2026?

Based on GuruFocus' analysis, Volkswagen AG stock appears to be undervalued. The current stock price of zł319.10 is trading 27.7% below its estimated GF Value™ of zł441.21. GuruFocus considers Volkswagen AG to be Modestly Undervalued.

Key valuation signals for WAR:VOW:

  • E10: zł113.28
  • GF Value™: zł441.21 vs. price of zł319.10 (27.7% below fair value)
  • GF Score™: 87/100 with 8 warning signs

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


Volkswagen AG Business Description

Address Berliner Ring 2, Wolfsburg, NI, DEU, 38440
Volkswagen is the second-largest automotive original equipment manufacturer by vehicle sales globally, selling 9 million vehicles in 2025. Its four vehicle segments core (Volkswagen, SEAT, Skoda, and VW commercial), progressive (Audi, Lamborghini, and Bentley), sports luxury (Porsche), and Traton commercial vehicles (Traton, Scania, Navistar, MAN, and VW truck and bus) contribute 45%, 20%, 10%, and 13% to group revenue, respectively. It also has a vehicle software business (Cariad), batteries, power engineering production, and financial services.
87GF Score

Get the complete analysis for WAR:VOW

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

zł319.10
Price
zł441.21
GF Value