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Bridge Bancorp Inc  (NAS:BDGE) E10: $1.62 (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.

Bridge Bancorp Inc's adjusted earnings per share data for the three months ended in Sep. 2017 was $0.480. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.62 for the trailing ten years ended in Sep. 2017.

As of today, Bridge Bancorp Inc's current stock price is $34.75. Bridge Bancorp Inc's E10 for the quarter that ended in Sep. 2017 was $1.62. Bridge Bancorp Inc's Shiller PE Ratio of today is 21.45.

During the past 13 years, the highest Shiller PE Ratio of Bridge Bancorp Inc was 24.49. The lowest was 10.90. And the median was 15.32.


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.

Bridge Bancorp 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 1.63 1.61 1.52 1.49 1.56

Bridge Bancorp 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 1.55 1.56 1.59 1.61 1.62

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, Bridge Bancorp 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)
=0.48/246.819*246.819
=0.480

Current CPI (Sep. 2017) = 246.819.

Bridge Bancorp Inc Quarterly Data

per share eps CPI Adj_EPS
200712 0.330 210.036 0.388
200803 0.320 213.528 0.370
200806 0.370 218.815 0.417
200809 0.390 218.783 0.440
200812 0.350 210.228 0.411
200903 0.360 212.709 0.418
200906 0.330 215.693 0.378
200909 0.370 215.969 0.423
200912 0.360 215.949 0.411
201003 0.340 217.631 0.386
201006 0.360 217.965 0.408
201009 0.380 218.439 0.429
201012 0.380 219.179 0.428
201103 0.340 223.467 0.376
201106 0.380 225.722 0.416
201109 0.410 226.889 0.446
201112 0.420 225.672 0.459
201203 0.350 229.392 0.377
201206 0.360 229.478 0.387
201209 0.390 231.407 0.416
201212 0.390 229.601 0.419
201303 0.350 232.773 0.371
201306 0.360 233.504 0.381
201309 0.340 234.149 0.358
201312 0.320 233.049 0.339
201403 0.040 236.293 0.042
201406 0.370 238.343 0.383
201409 0.420 238.031 0.436
201412 0.350 234.812 0.368
201503 0.410 236.119 0.429
201506 0.040 238.638 0.041
201509 0.450 237.945 0.467
201512 0.490 236.525 0.511
201603 0.490 238.132 0.508
201606 0.500 241.018 0.512
201609 0.500 241.428 0.511
201612 0.500 241.432 0.511
201703 0.470 243.801 0.476
201706 0.450 244.955 0.453
201709 0.480 246.819 0.480

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.

Bridge Bancorp Inc's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=34.75/1.62
=21.45

* 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 Bridge Bancorp Inc was 24.49. The lowest was 10.90. And the median was 15.32.


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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