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E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.
First Industrial Realty Trust's adjusted revenue per share for the three months ended in Mar. 2025 was $1.336. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is $4.48 for the trailing ten years ended in Mar. 2025.
During the past 12 months, First Industrial Realty Trust's average Cyclically Adjusted Revenue Growth Rate was 4.40% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was 5.40% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was 3.60% per year. During the past 10 years, the average Cyclically Adjusted Revenue Growth Rate was -4.90% 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 Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.
During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of First Industrial Realty Trust was 5.40% per year. The lowest was -12.80% per year. And the median was -4.00% per year.
As of today (2025-05-09), First Industrial Realty Trust's current stock price is $49.41. First Industrial Realty Trust's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2025 was $4.48. First Industrial Realty Trust's Cyclically Adjusted PS Ratio of today is 11.03.
During the past 13 years, the highest Cyclically Adjusted PS Ratio of First Industrial Realty Trust was 17.61. The lowest was 2.92. And the median was 10.70.
The historical data trend for First Industrial Realty Trust's Cyclically Adjusted Revenue per Share 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.
First Industrial Realty Trust Quarterly Data | ||||||||||||||||||||
Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | Mar25 | |
Cyclically Adjusted Revenue per Share | Get a 7-Day Free Trial |
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4.29 | 4.34 | 4.37 | 4.40 | 4.48 |
For the REIT - Industrial subindustry, First Industrial Realty Trust's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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.
For the REITs industry and Real Estate sector, First Industrial Realty Trust's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where First Industrial Realty Trust's Cyclically Adjusted PS Ratio falls into.
E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.
What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?
Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.
If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.
We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Revenue per Share.
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, First Industrial Realty Trust's adjusted Revenue per Share data for the three months ended in Mar. 2025 was:
Adj_RevenuePerShare | = | Revenue per Share | / | CPI of Mar. 2025 (Change) | * | Current CPI (Mar. 2025) |
= | 1.336 | / | 134.9266 | * | 134.9266 | |
= | 1.336 |
Current CPI (Mar. 2025) = 134.9266.
First Industrial Realty Trust Quarterly Data
Revenue per Share | CPI | Adj_RevenuePerShare | |
201506 | 0.818 | 100.684 | 1.096 |
201509 | 0.831 | 100.392 | 1.117 |
201512 | 0.840 | 99.792 | 1.136 |
201603 | 0.842 | 100.470 | 1.131 |
201606 | 0.798 | 101.688 | 1.059 |
201609 | 0.801 | 101.861 | 1.061 |
201612 | 0.837 | 101.863 | 1.109 |
201703 | 0.830 | 102.862 | 1.089 |
201706 | 0.828 | 103.349 | 1.081 |
201709 | 0.828 | 104.136 | 1.073 |
201712 | 0.850 | 104.011 | 1.103 |
201803 | 0.830 | 105.290 | 1.064 |
201806 | 0.797 | 106.317 | 1.011 |
201809 | 0.795 | 106.507 | 1.007 |
201812 | 0.832 | 105.998 | 1.059 |
201903 | 0.827 | 107.251 | 1.040 |
201906 | 0.823 | 108.070 | 1.028 |
201909 | 0.841 | 108.329 | 1.047 |
201912 | 0.872 | 108.420 | 1.085 |
202003 | 0.868 | 108.902 | 1.075 |
202006 | 0.858 | 108.767 | 1.064 |
202009 | 0.907 | 109.815 | 1.114 |
202012 | 0.870 | 109.897 | 1.068 |
202103 | 0.900 | 111.754 | 1.087 |
202106 | 0.909 | 114.631 | 1.070 |
202109 | 0.933 | 115.734 | 1.088 |
202112 | 0.928 | 117.630 | 1.064 |
202203 | 0.952 | 121.301 | 1.059 |
202206 | 0.984 | 125.017 | 1.062 |
202209 | 1.057 | 125.227 | 1.139 |
202212 | 1.094 | 125.222 | 1.179 |
202303 | 1.129 | 127.348 | 1.196 |
202306 | 1.150 | 128.729 | 1.205 |
202309 | 1.172 | 129.860 | 1.218 |
202312 | 1.188 | 129.419 | 1.239 |
202403 | 1.226 | 131.776 | 1.255 |
202406 | 1.240 | 132.554 | 1.262 |
202409 | 1.266 | 133.029 | 1.284 |
202412 | 1.326 | 133.157 | 1.344 |
202503 | 1.336 | 134.927 | 1.336 |
Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.
If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.
For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.
First Industrial Realty Trust's Cyclically Adjusted PS Ratio of today is calculated as
Cyclically Adjusted PS Ratio | = | Share Price | / | Cyclically Adjusted Revenue per Share |
= | 49.41 | / | 4.48 | |
= | 11.03 |
* 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 Cyclically Adjusted PS Ratio of First Industrial Realty Trust was 17.61. The lowest was 2.92. And the median was 10.70.
Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.
Thank you for viewing the detailed overview of First Industrial Realty Trust's Cyclically Adjusted Revenue per Share provided by GuruFocus.com. Please click on the following links to see related term pages.
Scott A Musil | officer: Sen VP, Treas, Controller | ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606 |
Johannson L Yap | officer: Chief Investment Officer | ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606 |
Rice Jennifer Matthews | officer: General Counsel | 555 EAST LANCASTER AVE, SUITE 100, RADNOR PA 19087 |
Peter Schultz | officer: SVP - Portfolio Management | ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606 |
Marcus L. Smith | director | 555 17TH STREET, SUITE 3700, DCT INDUSTRIAL TRUST INC., DENVER CO 80202 |
John Rau | director | MIAMI CORPORATION, 410 N. MICHIGAN AVENUE, ROOM 590, CHICAGO IL 60611 |
Teresa Bryce Bazemore | director | CHIMERA INVESTMENT CORPORATION, 520 MADISON AVE, 32ND FL, NEW YORK NY 10022 |
Bruce W Duncan | director, officer: PRESIDENT AND CEO | ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606 |
Hackett H Patrick Jr | director | ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606 |
Denise Olsen | director | ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606 |
David Harker | officer: Exec. Director - Investments | ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606 |
Peter E. Baccile | director, officer: President | 311 SOUTH WACKER DR., SUITE 3900, CHICAGO IL 60605 |
Matthew Dominski | director | ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606 |
Leonard Peter Sharpe | director | ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606 |
Jay H Shidler | director | THE SHIDLER GROUP, 810 RICHARDS STREET SUITE 1000, HONOLULU HI 96813 |
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