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Delaware Investments Natl Muniome E10

: $0.93 (As of Sep. 2021)
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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.

Delaware Investments Natl Muniome's adjusted earnings per share data for the fiscal year that ended in Mar. 2021 was $1.700. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.93 for the trailing ten years ended in Mar. 2021.

As of today (2022-05-17), Delaware Investments Natl Muniome's current stock price is $ 11.27. Delaware Investments Natl Muniome's E10 for the fiscal year that ended in Mar. 2021 was $. Delaware Investments Natl Muniome's Shiller PE Ratio of today is 12.12.

During the past 11 years, the highest Shiller PE Ratio of Delaware Investments Natl Muniome was 18.53. The lowest was 12.06. And the median was 15.38.


Delaware Investments Natl Muniome E10 Historical Data

The historical data trend for Delaware Investments Natl Muniome'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.

Delaware Investments Natl Muniome Annual Data
Trend Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21
E10
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - 0.75 0.93

Delaware Investments Natl Muniome Semi-Annual Data
Mar12 Sep12 Mar13 Sep13 Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21
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 - 0.75 - 0.93 -

Competitive Comparison

For the Asset Management subindustry, Delaware Investments Natl Muniome's E10, along with its competitors' market caps and E10 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.

   

Delaware Investments Natl Muniome E10 Distribution

For the Asset Management industry and Financial Services sector, Delaware Investments Natl Muniome's E10 distribution charts can be found below:

* The bar in red indicates where Delaware Investments Natl Muniome's E10 falls into.



Delaware Investments Natl Muniome 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, Delaware Investments Natl Muniome's adjusted earnings per share data for the fiscal year that ended in Mar. 2021 was:

Adj_EPS=Earnings per Share (Diluted) /CPI of Mar. 2021 (Change)*Current CPI (Mar. 2021)
=1.7/111.7544*111.7544
=1.700

Current CPI (Mar. 2021) = 111.7544.

Delaware Investments Natl Muniome Annual Data

per_share_eps CPI Adj_EPS
201203 1.711 96.783 1.976
201303 1.580 98.209 1.798
201403 -0.470 99.695 -0.527
201503 1.930 99.621 2.165
201603 0.810 100.470 0.901
201703 -0.030 102.862 -0.033
201803 0.630 105.290 0.669
201903 0.700 107.251 0.729
202003 -0.030 108.902 -0.031
202103 1.700 111.754 1.700

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


Delaware Investments Natl Muniome  (AMEX:VFL) 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.

Delaware Investments Natl Muniome's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=11.27/0.93
=12.12

* 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 11 years, the highest Shiller P/E Ratio of Delaware Investments Natl Muniome was 18.53. The lowest was 12.06. And the median was 15.38.


Be Aware

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


Delaware Investments Natl Muniome E10 Related Terms

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


Delaware Investments Natl Muniome Business Description

Delaware Investments Natl Muniome logo
Industry
Financial Services » Asset Management NAICS : 523920 SIC : 6799
Traded in Other Exchanges
N/A
Address
610 Market Street, Philadelphia, PA, USA, 19106
Delaware Investments Natl Muni Income is a closed-end investment fund. The Fund seeks to provide current income exempt from regular federal income tax consistent with the preservation of capital.
Executives
Wells Fargo Bank N A 10 percent owner 101 NORTH PHILLIPS AVENUE SIOUX FALLS SD 57104
Toronto Dominion Holdings Usa Inc 10 percent owner 40 WALL STREET NEW YORK NY 10003
Toronto Dominion Bank 10 percent owner 66 WELLINGTON STREET WEST 15TH FLOOR, TD TOWER TORONTO, ONTARIO A6 M5K 1A2
Toronto Dominion Investments, Inc. 10 percent owner 909 FANIN SUITE 1950 HOUSTON TX 77010
Td Group Us Holdings Llc 10 percent owner 251 LITTLE FALLS DRIVE WILMINGTON DE 19808
Van Roden Jake officer: SVP/Portfolio Manager 2005 MARKET STREET PHILADELPHIA PA 19103
Wood Christianna director 330 OLD Y ROAD GOLDEN CO 80401
Abernathy Jerome director 2005 MARKET STREET PHILADELPHIA PA 19103
Lytle Shawn director, officer: Trustee C/O DELAWARE INVESTMENTS 2005 MARKET STREET PHILADELPHIA PA 19103
Borowiec Ann Dully director, officer: Board Member C/O DELAWARE INVESTMENTS 2005 MARKET STREET PHILADELPHIA PA 19103
Chow Joseph W director STATE STREET CORP 225 FRANKLIN ST BOSTON MA 02110
Whitford Thomas K director 249 FIFTH AVE P1-POPP-30-1 PITTSBURGH PA 15222
Gizzi Gregory A. officer: VP/Portfolio Manager C/O DELAWARE INVESTMENTS 2005 MARKET STREET PHILADELPHIA PA 19103
Sevilla-sacasa Frances Aldrich director 3 GREENWAY PLAZA SUITE 1300 HOUSTON TX 77046
Zecher Richard director 2 SUTTON PLACE SOUTH, 19A NEW YORK NY 10022

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