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Grupo Aeroportuario del Sureste SAB de CV  (NYSE:ASR) E10: $4.14 (As of Sep. 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.

Grupo Aeroportuario del Sureste SAB de CV's adjusted earnings per share data for the three months ended in Sep. 2017 was $2.058. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $4.14 for the trailing ten years ended in Sep. 2017.

As of today, Grupo Aeroportuario del Sureste SAB de CV's current stock price is $173.23. Grupo Aeroportuario del Sureste SAB de CV's E10 for the quarter that ended in Sep. 2017 was $4.14. Grupo Aeroportuario del Sureste SAB de CV's Shiller PE Ratio of today is 41.84.

During the past 13 years, the highest Shiller PE Ratio of Grupo Aeroportuario del Sureste SAB de CV was 55.24. The lowest was 25.72. And the median was 40.98.


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.

Grupo Aeroportuario del Sureste SAB de CV 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 2.62 3.09 3.06 3.06 3.09

Grupo Aeroportuario del Sureste SAB de CV Quarterly Data

Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17
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 3.17 3.09 3.64 3.95 4.14

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, Grupo Aeroportuario del Sureste SAB de CV's adjusted earnings per share data for the three months ended in Sep. 2017 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2017 (Change)*Current CPI (Sep. 2017)
=2.05771010347/246.819*246.819
=2.058

Current CPI (Sep. 2017) = 246.819.

Grupo Aeroportuario del Sureste SAB de CV Quarterly Data

per share eps CPI Adj_EPS
200712 -0.555 210.036 -0.653
200803 1.093 213.528 1.264
200806 0.824 218.815 0.929
200809 0.731 218.783 0.825
200812 0.519 210.228 0.609
200903 0.778 212.709 0.902
200906 0.313 215.693 0.359
200909 0.425 215.969 0.485
200912 0.411 215.949 0.469
201003 1.142 217.631 1.295
201006 0.904 217.965 1.024
201009 0.578 218.439 0.653
201012 0.751 219.179 0.845
201103 1.159 223.467 1.280
201106 1.090 225.722 1.192
201109 0.927 226.889 1.009
201112 1.031 225.672 1.127
201203 1.404 229.392 1.510
201206 1.109 229.478 1.193
201209 1.055 231.407 1.125
201212 1.726 229.601 1.855
201303 1.298 232.773 1.376
201306 1.683 233.504 1.779
201309 1.304 234.149 1.375
201312 1.655 233.049 1.753
201403 1.603 236.293 1.674
201406 1.423 238.343 1.474
201409 1.464 238.031 1.518
201412 1.177 234.812 1.237
201503 1.628 236.119 1.702
201506 1.578 238.638 1.632
201509 1.397 237.945 1.449
201512 1.426 236.525 1.488
201603 1.755 238.132 1.819
201606 1.549 241.018 1.586
201609 1.588 241.428 1.624
201612 1.493 241.432 1.526
201703 2.314 243.801 2.343
201706 2.083 244.955 2.098
201709 2.058 246.819 2.058

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.

Grupo Aeroportuario del Sureste SAB de CV's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=173.23/4.14
=41.84

* 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 Grupo Aeroportuario del Sureste SAB de CV was 55.24. The lowest was 25.72. And the median was 40.98.


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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