White Horse Bhd (XKLS:5009) E10: RM-0.08 (As of Mar. 2026)


XKLS:5009 White Horse Bhd XKLS:5009
32 GF Score
Price RM0.46
GF Value RM0.59
Valuation Modestly Undervalued
! 2 Warning Signs
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What is White Horse Bhd E10?

White Horse Bhd XKLS:5009 32 E10 is RM-0.08 as of Mar. 2026. GuruFocus rates XKLS:5009 with a GF Score™ of 32/100 and a GF Value™ of RM0.59 (Modestly Undervalued). The stock has 2 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.

White Horse Bhd's adjusted earnings per share data for the three months ended in Mar. 2026 was RM-0.033. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is RM-0.08 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.

During the past 13 years, the highest 3-Year average E10 Growth Rate of White Horse Bhd was -30.70% per year. The lowest was -30.70% per year. And the median was -30.70% per year.

As of today (2026-07-09), White Horse Bhd's current stock price is RM0.455. White Horse Bhd's E10 for the quarter that ended in Mar. 2026 was RM-0.08. White Horse Bhd's Shiller PE Ratio of today is .

During the past 13 years, the highest Shiller PE Ratio of White Horse Bhd was 60.00. The lowest was 8.25. And the median was 13.20.


White Horse Bhd  (XKLS:5009) 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.

During the past 13 years, the highest Shiller P/E Ratio of White Horse Bhd was 60.00. The lowest was 8.25. And the median was 13.20.


Be Aware

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


White Horse Bhd E10 Related Terms


White Horse Bhd E10 Historical Data

* Premium members only.

The historical data trend for White Horse Bhd'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.

White Horse Bhd E10 Chart

White Horse Bhd 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 0.05 0.03 0.00 -0.04 -0.07

White Horse Bhd 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 -0.06 -0.07 -0.06 -0.07 -0.08

XKLS:5009 vs CRH, VMC, MLM: E10 Comparison

For the Building Materials subindustry, White Horse Bhd'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.


White Horse Bhd Shiller PE Ratio vs Building Materials Industry

For the Building Materials industry and Basic Materials sector, White Horse Bhd's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where White Horse Bhd's Shiller PE Ratio falls into.


XKLS:5009
32GF Score
White Horse Bhd XKLS:5009
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

White Horse Bhd 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, White Horse Bhd'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)
=-0.033/330.2130*330.2130
=-0.033

Current CPI (Mar. 2026) = 330.2130.

White Horse Bhd Quarterly Data

per share eps CPI Adj_EPS
201606 0.017 241.018 0.023
201609 0.006 241.428 0.008
201612 0.019 241.432 0.026
201703 0.019 243.801 0.026
201706 0.048 244.955 0.065
201709 0.022 246.819 0.029
201712 -0.067 246.524 -0.090
201803 0.017 249.554 0.022
201806 -0.016 251.989 -0.021
201809 -0.024 252.439 -0.031
201812 -0.087 251.233 -0.114
201903 -0.026 254.202 -0.034
201906 -0.056 256.143 -0.072
201909 -0.059 256.759 -0.076
201912 -0.139 256.974 -0.179
202003 -0.088 258.115 -0.113
202006 -0.098 257.797 -0.126
202009 -0.021 260.280 -0.027
202012 -0.036 260.474 -0.046
202103 -0.023 264.877 -0.029
202106 -0.073 271.696 -0.089
202109 -0.077 274.310 -0.093
202112 0.249 278.802 0.295
202203 0.042 287.504 0.048
202206 -0.009 296.311 -0.010
202209 -0.022 296.808 -0.024
202212 -0.007 296.797 -0.008
202303 -0.084 301.836 -0.092
202306 -0.053 305.109 -0.057
202309 -0.013 307.789 -0.014
202312 0.075 306.746 0.081
202403 -0.014 312.332 -0.015
202406 -0.007 314.175 -0.007
202409 -0.016 315.301 -0.017
202412 -0.012 315.605 -0.013
202503 -0.039 319.799 -0.040
202506 -0.003 322.561 -0.003
202509 -0.010 324.800 -0.010
202512 0.019 324.054 0.019
202603 -0.033 330.213 -0.033

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 RM-0.08 mean?
White Horse Bhd (XKLS:5009) has a E10 of RM-0.08 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on White Horse Bhd and its competitors.
Is White Horse Bhd's E10 too high?
White Horse Bhd's current E10 is RM-0.08. Overall, White Horse Bhd has a GF Score™ of 32/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does White Horse Bhd's E10 compare to CRH and VMC?
White Horse Bhd's E10 of RM-0.08 can be compared against companies in the Building Materials 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 Building Materials company?
A good E10 depends on the Building Materials 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 White Horse Bhd and its competitors. White Horse Bhd's current E10 is RM-0.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is White Horse Bhd stock overvalued right now?
Based on GuruFocus' analysis, White Horse Bhd (XKLS:5009) is currently considered Modestly Undervalued. The stock's GF Value™ is RM0.59, compared to a current price of RM0.46 — trading 22.9% below its estimated fair value. The current E10 is RM-0.08. White Horse Bhd's overall GF Score™ is 32/100 with 2 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 White Horse Bhd (XKLS:5009), the current E10 is RM-0.08 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 White Horse Bhd (XKLS:5009) Overvalued in 2026?

Based on GuruFocus' analysis, White Horse Bhd stock appears to be undervalued. The current stock price of RM0.46 is trading 22.9% below its estimated GF Value™ of RM0.59. GuruFocus considers White Horse Bhd to be Modestly Undervalued.

Key valuation signals for XKLS:5009:

  • E10: RM-0.08
  • GF Value™: RM0.59 vs. price of RM0.46 (22.9% below fair value)
  • GF Score™: 32/100 with 2 warning signs

No single metric tells the full story. See the XKLS:5009 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


White Horse Bhd Business Description

Address Pasir Gudang Industrial Estate, PLO 464, Jalan Gangsa, Pasir Gudang, JHR, MYS, 81700
White Horse Bhd. is an investment holding company, which is engaged in the manufacturing of ceramic wall, floor tiles and the provision of management services. Its segments include Malaysia, Vietnam, and Others. The Malaysia segment includes the manufacturing and distribution of ceramic homogenous tiles in Malaysia. The Vietnam segment includes the manufacturing and distribution of ceramic homogenous tiles in Vietnam. The other segments include the distribution of ceramic homogenous tiles in Indonesia, the Philippine, Singapore, and Thailand, and China. The product portfolio of the group consists of ceramic wall tiles, ceramic floor tiles and porcelain tiles. It generates the majority of revenue from the Malaysian segment.
32GF Score

Get the complete analysis for XKLS:5009

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

RM0.46
Price
RM0.59
GF Value