GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Aflac Inc (NYSE:AFL) » Definitions » E10

Aflac (AFL) E10 : $6.22 (As of Mar. 2024)


View and export this data going back to 1974. Start your Free Trial

What is Aflac E10?

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.

Aflac's adjusted earnings per share data for the three months ended in Mar. 2024 was $3.250. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $6.22 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Aflac's average E10 Growth Rate was 12.30% per year. During the past 3 years, the average E10 Growth Rate was 13.00% per year. During the past 5 years, the average E10 Growth Rate was 12.70% per year. During the past 10 years, the average E10 Growth Rate was 11.10% 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 Aflac was 19.70% per year. The lowest was 7.50% per year. And the median was 13.70% per year.

As of today (2024-05-28), Aflac's current stock price is $87.365. Aflac's E10 for the quarter that ended in Mar. 2024 was $6.22. Aflac's Shiller PE Ratio of today is 14.05.

During the past 13 years, the highest Shiller PE Ratio of Aflac was 16.38. The lowest was 7.32. And the median was 13.49.


Aflac E10 Historical Data

The historical data trend for Aflac'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.

* Premium members only.

Aflac E10 Chart

Aflac Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.65 4.08 4.77 5.38 5.89

Aflac Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 5.54 5.75 5.96 5.89 6.22

Competitive Comparison of Aflac's E10

For the Insurance - Life subindustry, Aflac'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.


Aflac's Shiller PE Ratio Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Aflac's Shiller PE Ratio distribution charts can be found below:

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



Aflac 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, Aflac's adjusted earnings per share data for the three months ended in Mar. 2024 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=3.25/131.7762*131.7762
=3.250

Current CPI (Mar. 2024) = 131.7762.

Aflac Quarterly Data

per share eps CPI Adj_EPS
201406 0.890 100.560 1.166
201409 0.780 100.428 1.023
201412 0.785 99.070 1.044
201503 0.755 99.621 0.999
201506 0.660 100.684 0.864
201509 0.660 100.392 0.866
201512 0.855 99.792 1.129
201603 0.870 100.470 1.141
201606 0.660 101.688 0.855
201609 0.765 101.861 0.990
201612 0.915 101.863 1.184
201703 0.730 102.862 0.935
201706 0.890 103.349 1.135
201709 0.900 104.136 1.139
201712 2.975 104.011 3.769
201803 0.910 105.290 1.139
201806 1.070 106.317 1.326
201809 1.090 106.507 1.349
201812 0.690 105.998 0.858
201903 1.230 107.251 1.511
201906 1.090 108.070 1.329
201909 1.040 108.329 1.265
201912 1.060 108.420 1.288
202003 0.780 108.902 0.944
202006 1.120 108.767 1.357
202009 3.440 109.815 4.128
202012 1.360 109.897 1.631
202103 1.870 111.754 2.205
202106 1.620 114.631 1.862
202109 1.320 115.734 1.503
202112 1.570 117.630 1.759
202203 1.600 121.301 1.738
202206 2.170 125.017 2.287
202209 2.820 125.227 2.967
202212 0.310 125.222 0.326
202303 1.940 127.348 2.007
202306 2.710 128.729 2.774
202309 2.640 129.860 2.679
202312 0.460 129.419 0.468
202403 3.250 131.776 3.250

Add all the adjusted EPS together and divide 10 will get our e10.


Aflac  (NYSE:AFL) 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.

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

Shiller PE Ratio=Share Price/E10
=87.365/6.22
=14.05

* 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 Aflac was 16.38. The lowest was 7.32. And the median was 13.49.


Be Aware

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


Aflac E10 Related Terms

Thank you for viewing the detailed overview of Aflac's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Aflac (AFL) Business Description

Traded in Other Exchanges
Address
1932 Wynnton Road, Columbus, GA, USA, 31999
Aflac Inc offers supplemental health insurance and life insurance in the two largest insurance markets in the world, the U.S. and Japan. In addition to its cancer policies, the company has broadened its product offerings to include accident, disability, and long-term-care insurance. It markets its products through independent distributors, selling most of its policies directly to consumers at their places of work.
Executives
Steven Kent Beaver officer: SVP, CFO, Aflac US 1932 WYNNTON ROAD, COLUMBUS GA 31999
Masatoshi Koide officer: Deputy President, Aflac Japan 1932 WYNNTON RD, COLUMBUS GA 31999
June P Howard officer: Sr. Vice President 1932 WYNNTON RD, COLUMBUS GA 31999
Lake Charles D Ii officer: President AFLAC Japan AFLAC INC, 1932 WYNNTON RD, COLUMBUS GA 31999
Frederick John Crawford officer: EVP, Chief Financial Officer AFLAC INCORPORATED, COLUMBUS GA 31999
William P Bowers director 600 NORTH 18TH STREET, BIN 15N-8170, BIRMINGHAM AL 35203
Joseph L Moskowitz director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Simard Frederic Jean Guy officer: SVP, CFO, Aflac U.S. 1932 WYNNTON ROAD, COLUMBUS GA 31999
James Todd Daniels officer: Sr. Vice President 1932 WYNNTON ROAD, COLUMBUS GA 31999
Albert Riggieri officer: SVP, Corporate Actuary 1932 WYNNTON RD, COLUMBUS GA 31999
Virgil Raynard Miller officer: President, Aflac U.S. 1932 WYNNTON ROAD, COLUMBUS GA 31999
Barbara K Rimer director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Miwako Hosoda director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Bradley Eugene Dyslin officer: Executive Vice President 1932 WYNNTON ROAD, COLUMBUS GA 31999
Audrey B Tillman officer: Executive Vice President 1932 WYNNTON RD, COLUMBUS GA 31999