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Banner Corp  (NAS:BANR) E10: $-6.86 (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.

Banner Corp's adjusted earnings per share data for the three months ended in Sep. 2017 was $0.760. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $-6.86 for the trailing ten years ended in Sep. 2017.

As of today, Banner Corp's current stock price is $56.54. Banner Corp's E10 for the quarter that ended in Sep. 2017 was $-6.86. Banner Corp's Shiller PE Ratio of today is .

During the past 13 years, the highest Shiller PE Ratio of Banner Corp was 467.00. The lowest was 0.00. And the median was 13.66.


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.

Banner Corp 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 -0.61 -1.66 -2.82 -3.50 -5.47

Banner Corp 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 -5.03 -5.47 -5.96 -6.34 -6.86

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, Banner Corp'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)
=0.76/246.819*246.819
=0.760

Current CPI (Sep. 2017) = 246.819.

Banner Corp Quarterly Data

per share eps CPI Adj_EPS
200712 5.320 210.036 6.252
200803 1.680 213.528 1.942
200806 -23.170 218.815 -26.135
200809 -0.420 218.783 -0.474
200812 -33.950 210.228 -39.859
200903 -4.550 212.709 -5.280
200906 -7.280 215.693 -8.331
200909 -3.080 215.969 -3.520
200912 -1.540 215.949 -1.760
201003 -1.120 217.631 -1.270
201006 -1.970 217.965 -2.231
201009 -2.830 218.439 -3.198
201012 0.100 219.179 0.113
201103 -0.600 223.467 -0.663
201106 0.010 225.722 0.011
201109 0.240 226.889 0.261
201112 0.180 225.672 0.197
201203 0.400 229.392 0.430
201206 1.270 229.478 1.366
201209 0.790 231.407 0.843
201212 0.680 229.601 0.731
201303 0.600 232.773 0.636
201306 0.600 233.504 0.634
201309 0.600 234.149 0.632
201312 0.580 233.049 0.614
201403 0.540 236.293 0.564
201406 0.880 238.343 0.911
201409 0.760 238.031 0.788
201412 0.600 234.812 0.631
201503 0.610 236.119 0.638
201506 0.640 238.638 0.662
201509 0.620 237.945 0.643
201512 0.020 236.525 0.021
201603 0.520 238.132 0.539
201606 0.610 241.018 0.625
201609 0.700 241.428 0.716
201612 0.680 241.432 0.695
201703 0.720 243.801 0.729
201706 0.770 244.955 0.776
201709 0.760 246.819 0.760

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.

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

Shiller PE Ratio=Share Price/E10
=56.54/-6.86
=

* 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 Banner Corp was 467.00. The lowest was 0.00. And the median was 13.66.


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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