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Autodesk Inc  (NAS:ADSK) E10: $0.15 (As of Jul. 2017)

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.

Autodesk Inc's adjusted earnings per share data for the three months ended in Jul. 2017 was $-0.660. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.15 for the trailing ten years ended in Jul. 2017.

As of today, Autodesk Inc's current stock price is $120.81. Autodesk Inc's E10 for the quarter that ended in Jul. 2017 was $0.15. Autodesk Inc's Shiller PE Ratio of today is 805.40.

During the past 13 years, the highest Shiller PE Ratio of Autodesk Inc was 797.53. The lowest was 15.61. And the median was 46.33.


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Autodesk Inc Annual Data

Jan08 Jan09 Jan10 Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.06 1.12 1.04 0.74 0.36

Autodesk Inc Quarterly Data

Oct12 Jan13 Apr13 Jul13 Oct13 Jan14 Apr14 Jul14 Oct14 Jan15 Apr15 Jul15 Oct15 Jan16 Apr16 Jul16 Oct16 Jan17 Apr17 Jul17
E10 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 Premium Member Only Premium Member Only Premium Member Only 0.57 0.48 0.36 0.26 0.15

Competitive Comparison
* 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.


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.

For example, Autodesk Inc's adjusted earnings per share data for the three months ended in Jul. 2017 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jul. 2017 (Change)*Current CPI (Jul. 2017)
=-0.66/244.786*244.786
=-0.660

Current CPI (Jul. 2017) = 244.786.

Autodesk Inc Quarterly Data

per share eps CPI Adj_EPS
200710 0.350 208.936 0.410
200801 0.400 211.080 0.464
200804 0.410 214.823 0.467
200807 0.390 219.964 0.434
200810 0.450 216.573 0.509
200901 -0.470 211.143 -0.545
200904 -0.140 213.240 -0.161
200907 0.050 215.351 0.057
200910 0.130 216.177 0.147
201001 0.220 216.687 0.249
201004 0.160 218.009 0.180
201007 0.250 218.011 0.281
201010 0.230 218.711 0.257
201101 0.260 220.223 0.289
201104 0.290 224.906 0.316
201107 0.300 225.922 0.325
201110 0.320 226.421 0.346
201201 0.310 226.665 0.335
201204 0.340 230.085 0.362
201207 0.280 229.104 0.299
201210 0.130 231.317 0.138
201301 0.320 230.280 0.340
201304 0.240 232.531 0.253
201307 0.270 233.596 0.283
201310 0.250 233.546 0.262
201401 0.230 233.916 0.241
201404 0.120 237.072 0.124
201407 0.130 238.250 0.134
201410 0.050 237.433 0.052
201501 0.050 233.707 0.052
201504 0.080 236.599 0.083
201507 -1.180 238.654 -1.210
201510 -0.190 237.838 -0.196
201601 -0.170 236.916 -0.176
201604 -0.750 239.261 -0.767
201607 -0.440 240.628 -0.448
201610 -0.640 241.729 -0.648
201701 -0.780 242.839 -0.786
201704 -0.590 244.524 -0.591
201707 -0.660 244.786 -0.660

Add all the adjusted EPS together and divide 10 will get our 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.

Autodesk Inc's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=120.81/0.15
=805.40

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

During the past 13 years, the highest Shiller P/E Ratio of Autodesk Inc was 797.53. The lowest was 15.61. And the median was 46.33.


Be Aware

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


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