Kcell JSC (XKAZ:KCEL) E10: ₸113.90 (As of Mar. 2026)

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XKAZ:KCEL Kcell JSC XKAZ:KCEL
57 GF Score
Price ₸3,235.98
GF Value ₸3,652.09
Valuation Modestly Undervalued
! 9 Warning Signs
View Full Analysis

What is Kcell JSC E10?

Kcell JSC XKAZ:KCEL +0.22% 57 E10 is ₸113.90 as of Mar. 2026. GuruFocus rates XKAZ:KCEL with a GF Score™ of 57/100 and a GF Value™ of ₸3,652.09 (Modestly Undervalued). 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.

Kcell JSC's adjusted earnings per share data for the three months ended in Mar. 2026 was ₸21.470. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ₸113.90 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Kcell JSC's average E10 Growth Rate was -11.50% per year. During the past 3 years, the average E10 Growth Rate was -14.60% 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 Kcell JSC was -10.80% per year. The lowest was -14.60% per year. And the median was -12.70% per year.

As of today (2026-07-30), Kcell JSC's current stock price is ₸3235.98. Kcell JSC's E10 for the quarter that ended in Mar. 2026 was ₸113.90. Kcell JSC's Shiller PE Ratio of today is 28.41.

During the past 13 years, the highest Shiller PE Ratio of Kcell JSC was 30.13. The lowest was 5.00. And the median was 13.61.


Kcell JSC  (XKAZ:KCEL) 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.

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

Shiller PE Ratio=Share Price/E10
=3235.98/113.90
=28.41

* 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 Kcell JSC was 30.13. The lowest was 5.00. And the median was 13.61.


Be Aware

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


Kcell JSC E10 Related Terms


Kcell JSC E10 Historical Data

* Premium members only.

The historical data trend for Kcell JSC'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.

Kcell JSC E10 Chart

Kcell JSC 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 190.76 183.51 164.55 135.33 114.18

Kcell JSC 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 128.76 124.44 119.60 114.18 113.90

XKAZ:KCEL vs VZ, TMUS, T: E10 Comparison

For the Telecom Services subindustry, Kcell JSC'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.


Kcell JSC Shiller PE Ratio vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Kcell JSC's Shiller PE Ratio distribution charts can be found below:

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


XKAZ:KCEL
57GF Score
Kcell JSC XKAZ:KCEL
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kcell JSC 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, Kcell JSC'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)
=21.47/330.2130*330.2130
=21.470

Current CPI (Mar. 2026) = 330.2130.

Kcell JSC Quarterly Data

per share eps CPI Adj_EPS
201606 23.100 241.018 31.649
201609 21.900 241.428 29.954
201612 5.300 241.432 7.249
201703 19.800 243.801 26.818
201706 3.300 244.955 4.449
201709 19.400 246.819 25.955
201712 25.900 246.524 34.692
201803 11.800 249.554 15.614
201806 5.600 251.989 7.338
201809 7.000 252.439 9.157
201812 18.300 251.233 24.053
201903 -43.800 254.202 -56.897
201906 39.700 256.143 51.180
201909 29.100 256.759 37.425
201912 25.500 256.974 32.768
202003 26.800 258.115 34.286
202006 16.000 257.797 20.494
202009 45.600 260.280 57.852
202012 -0.400 260.474 -0.507
202103 35.800 264.877 44.631
202106 42.390 271.696 51.520
202109 46.630 274.310 56.133
202112 37.760 278.802 44.723
202203 46.160 287.504 53.017
202206 50.630 296.311 56.423
202209 65.510 296.808 72.883
202212 39.450 296.797 43.892
202303 64.060 301.836 70.083
202306 25.350 305.109 27.436
202309 28.450 307.789 30.523
202312 46.640 306.746 50.208
202403 13.990 312.332 14.791
202406 10.840 314.175 11.393
202409 12.930 315.301 13.542
202412 10.410 315.605 10.892
202503 6.000 319.799 6.195
202506 22.160 322.561 22.686
202509 46.160 324.800 46.929
202512 -3.780 324.054 -3.852
202603 21.470 330.213 21.470

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 ₸113.90 mean?
Kcell JSC (XKAZ:KCEL) has a E10 of ₸113.90 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Kcell JSC and its competitors.
Is Kcell JSC's E10 too high?
Kcell JSC's current E10 is ₸113.90. Overall, Kcell JSC has a GF Score™ of 57/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kcell JSC's E10 compare to VZ and TMUS?
Kcell JSC's E10 of ₸113.90 can be compared against companies in the Telecommunication Services 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 Telecommunication Services company?
A good E10 depends on the Telecommunication Services 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 Kcell JSC and its competitors. Kcell JSC's current E10 is ₸113.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kcell JSC stock overvalued right now?
Based on GuruFocus' analysis, Kcell JSC (XKAZ:KCEL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₸3,652.09, compared to a current price of ₸3,235.98 — trading 11.4% below its estimated fair value. The current E10 is ₸113.90. Kcell JSC's overall GF Score™ is 57/100 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 Kcell JSC (XKAZ:KCEL), the current E10 is ₸113.90 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 Kcell JSC (XKAZ:KCEL) Overvalued in 2026?

Based on GuruFocus' analysis, Kcell JSC stock appears to be undervalued. The current stock price of ₸3,235.98 is trading 11.4% below its estimated GF Value™ of ₸3,652.09. GuruFocus considers Kcell JSC to be Modestly Undervalued.

Key valuation signals for XKAZ:KCEL:

  • E10: ₸113.90
  • GF Value™: ₸3,652.09 vs. price of ₸3,235.98 (11.4% below fair value)
  • GF Score™: 57/100 with 9 warning signs

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


Kcell JSC Business Description

Address Alimzhanova Street, 51, Almaty, KAZ, 050004
Kcell JSC is a Kazakhstan-based company. It is engaged in providing mobile telecommunications services to both individuals and organizations including voice, SMS, MMS and data transmission. It offers Internet access and value-added services, including mobile content. The company is involved in designing, constructing and operating a cellular telecommunications network in the Republic of Kazakhstan using GSM (Global System for Mobile Communications) standard. It operates its business through Kcell which targets the mass market, corporate subscribers, public organizations as well as high-net-worth individuals. The company generates revenue from the sale of voice and other services, data service, handsets, and value-added services.
57GF Score

Get the complete analysis for XKAZ:KCEL

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

₸3,235.98
Price
₸3,652.09
GF Value