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Brookfield Infrastructure Partners LP  (NYSE:BIP) E10: $0.59 (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.

Brookfield Infrastructure Partners LP'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 $0.59 for the trailing ten years ended in Sep. 2017.

As of today, Brookfield Infrastructure Partners LP's current stock price is $43.31. Brookfield Infrastructure Partners LP's E10 for the quarter that ended in Sep. 2017 was $0.59. Brookfield Infrastructure Partners LP's Shiller PE Ratio of today is 73.41.

During the past 10 years, the highest Shiller PE Ratio of Brookfield Infrastructure Partners LP was 77.08. The lowest was 62.14. And the median was 71.13.


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.

Brookfield Infrastructure Partners LP 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 0.00 0.00 0.00 0.00 0.00

Brookfield Infrastructure Partners LP 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 0.00 0.00 0.58 0.58 0.59

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, Brookfield Infrastructure Partners LP'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.

Brookfield Infrastructure Partners LP Quarterly Data

per share eps CPI Adj_EPS
200712 -0.155 210.036 -0.182
200803 0.161 213.528 0.186
200806 0.066 218.815 0.074
200809 -0.040 218.783 -0.045
200812 0.293 210.228 0.344
200903 -1.128 212.709 -1.309
200906 2.350 215.693 2.689
200909 -2.265 215.969 -2.589
200912 1.366 215.949 1.561
201003 -0.007 217.631 -0.008
201006 0.120 217.965 0.136
201009 0.207 218.439 0.234
201012 2.287 219.179 2.575
201103 0.193 223.467 0.213
201106 0.113 225.722 0.124
201109 0.253 226.889 0.275
201112 0.193 225.672 0.211
201203 0.033 229.392 0.036
201206 -0.107 229.478 -0.115
201209 0.220 231.407 0.235
201212 0.160 229.601 0.172
201303 -0.113 232.773 -0.120
201306 0.400 233.504 0.423
201309 0.080 234.149 0.084
201312 -0.653 233.049 -0.692
201403 0.067 236.293 0.070
201406 0.007 238.343 0.007
201409 0.193 238.031 0.200
201412 0.190 234.812 0.200
201503 0.373 236.119 0.390
201506 0.007 238.638 0.007
201509 0.310 237.945 0.322
201512 0.020 236.525 0.021
201603 0.170 238.132 0.176
201606 0.390 241.018 0.399
201609 0.160 241.428 0.164
201612 0.400 241.432 0.409
201703 -0.030 243.801 -0.030
201706 -0.060 244.955 -0.060
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.

Brookfield Infrastructure Partners LP's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=43.31/0.59
=73.41

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

During the past 10 years, the highest Shiller P/E Ratio of Brookfield Infrastructure Partners LP was 77.08. The lowest was 62.14. And the median was 71.13.


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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