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Yamana Gold Inc  (NYSE:AUY) E10: $-0.23 (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.

Yamana Gold Inc's adjusted earnings per share data for the three months ended in Sep. 2017 was $0.040. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $-0.23 for the trailing ten years ended in Sep. 2017.

As of today, Yamana Gold Inc's current stock price is $3.41. Yamana Gold Inc's E10 for the quarter that ended in Sep. 2017 was $-0.23. Yamana Gold Inc's Shiller PE Ratio of today is .

During the past 13 years, the highest Shiller PE Ratio of Yamana Gold Inc was 1570.00. The lowest was 0.00. And the median was 48.85.


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.

Yamana Gold Inc 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 0.34 0.26 0.07 -0.16 -0.18

Yamana Gold Inc 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 -0.14 -0.18 -0.19 -0.21 -0.23

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, Yamana Gold Inc'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)
=0.04/246.819*246.819
=0.040

Current CPI (Sep. 2017) = 246.819.

Yamana Gold Inc Quarterly Data

per share eps CPI Adj_EPS
200712 0.060 210.036 0.071
200803 0.090 213.528 0.104
200806 0.060 218.815 0.068
200809 0.210 218.783 0.237
200812 0.260 210.228 0.305
200903 0.120 212.709 0.139
200906 0.010 215.693 0.011
200909 0.080 215.969 0.091
200912 0.040 215.949 0.046
201003 0.180 217.631 0.204
201006 0.090 217.965 0.102
201009 0.190 218.439 0.215
201012 0.170 219.179 0.191
201103 0.200 223.467 0.221
201106 0.260 225.722 0.284
201109 0.160 226.889 0.174
201112 0.120 225.672 0.131
201203 0.230 229.392 0.247
201206 0.060 229.478 0.065
201209 0.080 231.407 0.085
201212 0.220 229.601 0.236
201303 0.140 232.773 0.148
201306 -0.010 233.504 -0.011
201309 0.060 234.149 0.063
201312 -0.770 233.049 -0.815
201403 -0.040 236.293 -0.042
201406 0.010 238.343 0.010
201409 -1.170 238.031 -1.213
201412 -0.380 234.812 -0.399
201503 -0.170 236.119 -0.178
201506 -0.010 238.638 -0.010
201509 -0.120 237.945 -0.124
201512 -1.970 236.525 -2.056
201603 0.040 238.132 0.041
201606 0.040 241.018 0.041
201609 -0.010 241.428 -0.010
201612 -0.390 241.432 -0.399
201703 -0.010 243.801 -0.010
201706 -0.040 244.955 -0.040
201709 0.040 246.819 0.040

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.

Yamana Gold Inc's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=3.41/-0.23
=

* 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 Yamana Gold Inc was 1570.00. The lowest was 0.00. And the median was 48.85.


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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