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Amgen E10

: $8.41 (As of Jun. 2020)
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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.

Amgen's adjusted earnings per share data for the three months ended in Jun. 2020 was $3.050. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $8.41 for the trailing ten years ended in Jun. 2020.

As of today (2020-09-27), Amgen's current stock price is $243.82. Amgen's E10 for the quarter that ended in Jun. 2020 was $8.41. Amgen's Shiller PE Ratio of today is 28.99.

During the past 13 years, the highest Shiller PE Ratio of Amgen was 36.52. The lowest was 17.30. And the median was 26.38.


Amgen E10 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.

Amgen Annual Data
Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.28 6.14 6.20 7.12 8.05

Amgen Quarterly Data
Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20
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 7.67 7.86 8.05 8.17 8.41

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.


Amgen E10 Distribution

* The bar in red indicates where Amgen's E10 falls into.



Amgen 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, Amgen's adjusted earnings per share data for the three months ended in Jun. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2020 (Change)*Current CPI (Jun. 2020)
=3.05/109.3175*109.3175
=3.050

Current CPI (Jun. 2020) = 109.3175.

Amgen Quarterly Data

per share eps CPI Adj_EPS
201009 1.280 92.277 1.516
201012 1.080 92.914 1.271
201103 1.200 94.890 1.382
201106 1.250 95.319 1.434
201109 0.500 95.529 0.572
201112 1.080 95.632 1.235
201203 1.480 97.075 1.667
201206 1.610 96.661 1.821
201209 1.410 97.595 1.579
201212 1.010 97.158 1.136
201303 1.880 98.107 2.095
201306 1.650 98.557 1.830
201309 1.790 98.536 1.986
201312 1.330 98.692 1.473
201403 1.400 100.023 1.530
201406 2.010 100.520 2.186
201409 1.610 100.176 1.757
201412 1.680 98.604 1.863
201503 2.110 99.824 2.311
201506 2.150 100.691 2.334
201509 2.440 100.346 2.658
201512 2.370 99.957 2.592
201603 2.500 100.947 2.707
201606 2.470 101.524 2.660
201609 2.680 101.988 2.873
201612 2.590 102.456 2.763
201703 2.790 103.167 2.956
201706 2.910 103.278 3.080
201709 2.760 104.070 2.899
201712 -5.890 104.578 -6.157
201803 3.250 105.708 3.361
201806 3.480 106.324 3.578
201809 2.860 106.695 2.930
201812 3.010 106.200 3.098
201903 3.180 107.818 3.224
201906 3.570 108.250 3.605
201909 3.270 108.577 3.292
201912 2.850 108.841 2.862
202003 3.070 108.173 3.102
202006 3.050 109.318 3.050

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


Amgen  (NAS:AMGN) 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.

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

Shiller PE Ratio=Share Price/E10
=243.82/8.41
=28.99

* 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 Amgen was 36.52. The lowest was 17.30. And the median was 26.38.


Be Aware

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


Amgen E10 Related Terms


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