What is Apollo Commercial Real Estate Finance 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.
Apollo Commercial Real Estate Finance's adjusted earnings per share data for the three months ended in Mar. 2024 was $-0.760. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.41 for the trailing ten years ended in Mar. 2024.
During the past 12 months, Apollo Commercial Real Estate Finance's average E10 Growth Rate was -100.00% per year.
During the past 3 years, the average E10 Growth Rate was 1.10% 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 Apollo Commercial Real Estate Finance was 1.10% per year. The lowest was 1.10% per year. And the median was 1.10% per year.
* 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.
Competitive Comparison of Apollo Commercial Real Estate Finance's E10
For the REIT - Mortgage subindustry, Apollo Commercial Real Estate Finance'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.
Apollo Commercial Real Estate Finance's Shiller PE Ratio Distribution in the REITs Industry
* The bar in red indicates where Apollo Commercial Real Estate Finance's Shiller PE Ratio falls into.
Apollo Commercial Real Estate Finance 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.
Apollo Commercial Real Estate Finance Quarterly Data
per share eps
CPI
Adj_EPS
201406
0.510
100.560
0.656
201409
0.370
100.428
0.477
201412
0.420
99.070
0.549
201503
0.470
99.621
0.611
201506
0.390
100.684
0.501
201509
0.390
100.392
0.503
201512
0.320
99.792
0.415
201603
0.180
100.470
0.232
201606
0.060
101.688
0.076
201609
0.830
101.861
1.055
201612
0.600
101.863
0.762
201703
0.410
102.862
0.516
201706
0.280
103.349
0.351
201709
0.540
104.136
0.671
201712
0.320
104.011
0.398
201803
0.380
105.290
0.467
201806
0.390
106.317
0.475
201809
0.400
106.507
0.486
201812
0.340
105.998
0.415
201903
0.430
107.251
0.519
201906
0.370
108.070
0.443
201909
0.160
108.329
0.191
201912
0.420
108.420
0.501
202003
-0.860
108.902
-1.022
202006
0.360
108.767
0.428
202009
0.310
109.815
0.365
202012
0.210
109.897
0.247
202103
0.370
111.754
0.428
202106
0.420
114.631
0.474
202109
0.380
115.734
0.425
202112
0.240
117.630
0.264
202203
0.080
121.301
0.085
202206
0.440
125.017
0.455
202209
1.130
125.227
1.168
202212
-0.060
125.222
-0.062
202303
0.320
127.348
0.325
202306
-0.620
128.729
-0.623
202309
0.300
129.860
0.299
202312
0.294
129.419
0.294
202403
-0.760
129.419
-0.760
Add all the adjusted EPS together and divide 10 will get our e10.
Apollo Commercial Real Estate Finance (NYSE:ARI) 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.
Apollo Commercial Real Estate Finance's Shiller P/E Ratio of today is calculated as
* 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 Apollo Commercial Real Estate Finance was 12.69. The lowest was 3.59. And the median was 7.49.
Be Aware
Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.
Apollo Commercial Real Estate Finance E10 Related Terms
Thank you for viewing the detailed overview of Apollo Commercial Real Estate Finance's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.
Apollo Commercial Real Estate Finance (Apollo Commercial Real Estate Finance) Business Description
Apollo Commercial Real Estate Finance Inc is a real estate investment trust that primarily originates, invests in, acquires, and manages commercial first-mortgage loans, subordinate financings, commercial mortgage-backed securities, and other real estate-related debt investments. The subordinate loans and first-mortgage loans account for the vast majority of the portfolio on a cost basis. Property types include residential, retail, healthcare, office, mixed-use, hotel, industrial, multifamily, securities, and other, with residential properties and hotels representing the highest property value. More than a third of the properties are located in New York City, with the other properties located across other regions of the United States, as well as other countries.
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