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First Majestic Silver Corp  (NYSE:AG) E10: $0.01 (As of Jun. 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.

First Majestic Silver Corp's adjusted earnings per share data for the three months ended in Jun. 2017 was $0.010. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.01 for the trailing ten years ended in Jun. 2017.

As of today, First Majestic Silver Corp's current stock price is $6.91. First Majestic Silver Corp's E10 for the quarter that ended in Jun. 2017 was $0.01. First Majestic Silver Corp's Shiller PE Ratio of today is 691.00.

During the past 13 years, the highest Shiller PE Ratio of First Majestic Silver Corp was 2398.00. The lowest was 37.83. And the median was 127.36.


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.

First Majestic Silver Corp Annual Data

Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.12 0.08 0.05 -0.03 0.00

First Majestic Silver Corp Quarterly Data

Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17
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 -0.02 -0.01 0.00 0.01 0.01

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, First Majestic Silver Corp's adjusted earnings per share data for the three months ended in Jun. 2017 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2017 (Change)*Current CPI (Jun. 2017)
=0.01/244.955*244.955
=0.010

Current CPI (Jun. 2017) = 244.955.

First Majestic Silver Corp Quarterly Data

per share eps CPI Adj_EPS
200709 -0.040 208.490 -0.047
200712 -0.020 210.036 -0.023
200803 0.019 213.528 0.022
200806 0.000 218.815 0.000
200809 -0.009 218.783 -0.010
200812 -0.067 210.228 -0.078
200903 0.008 212.709 0.009
200906 0.009 215.693 0.010
200909 0.019 215.969 0.022
200912 0.029 215.949 0.033
201003 0.000 217.631 0.000
201006 0.120 217.965 0.135
201009 0.100 218.439 0.112
201012 0.130 219.179 0.145
201103 0.230 223.467 0.252
201106 0.290 225.722 0.315
201109 0.260 226.889 0.281
201112 0.190 225.672 0.206
201203 0.240 229.392 0.256
201206 0.140 229.478 0.149
201209 0.210 231.407 0.222
201212 0.190 229.601 0.203
201303 0.230 232.773 0.242
201306 0.000 233.504 0.000
201309 0.140 234.149 0.146
201312 -0.700 233.049 -0.736
201403 0.050 236.293 0.052
201406 0.060 238.343 0.062
201409 -0.090 238.031 -0.093
201412 -0.550 234.812 -0.574
201503 -0.010 236.119 -0.010
201506 -0.020 238.638 -0.021
201509 -0.010 237.945 -0.010
201512 -0.790 236.525 -0.818
201603 -0.050 238.132 -0.051
201606 0.040 241.018 0.041
201609 0.050 241.428 0.051
201612 0.010 241.432 0.010
201703 0.020 243.801 0.020
201706 0.010 244.955 0.010

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.

First Majestic Silver Corp's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=6.91/0.01
=691.00

* 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 First Majestic Silver Corp was 2398.00. The lowest was 37.83. And the median was 127.36.


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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