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Ballantyne Strong Inc  (AMEX:BTN) E10: $0.03 (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.

Ballantyne Strong Inc's adjusted earnings per share data for the three months ended in Sep. 2017 was $-0.070. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.03 for the trailing ten years ended in Sep. 2017.

As of today, Ballantyne Strong Inc's current stock price is $5.10. Ballantyne Strong Inc's E10 for the quarter that ended in Sep. 2017 was $0.03. Ballantyne Strong Inc's Shiller PE Ratio of today is 170.00.

During the past 13 years, the highest Shiller PE Ratio of Ballantyne Strong Inc was 416.50. The lowest was 11.85. And the median was 37.92.


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.

Ballantyne Strong 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 0.27 0.28 0.23 0.07 0.05

Ballantyne Strong 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 0.05 0.05 0.05 0.04 0.03

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, Ballantyne Strong 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)
=-0.07/246.819*246.819
=-0.070

Current CPI (Sep. 2017) = 246.819.

Ballantyne Strong Inc Quarterly Data

per share eps CPI Adj_EPS
200712 -0.020 210.036 -0.024
200803 -0.020 213.528 -0.023
200806 -0.010 218.815 -0.011
200809 -0.020 218.783 -0.023
200812 -0.170 210.228 -0.200
200903 0.040 212.709 0.046
200906 0.070 215.693 0.080
200909 0.040 215.969 0.046
200912 0.010 215.949 0.011
201003 0.070 217.631 0.079
201006 0.190 217.965 0.215
201009 0.160 218.439 0.181
201012 0.170 219.179 0.191
201103 0.110 223.467 0.121
201106 0.170 225.722 0.186
201109 0.330 226.889 0.359
201112 0.110 225.672 0.120
201203 0.170 229.392 0.183
201206 0.130 229.478 0.140
201209 -0.020 231.407 -0.021
201212 0.110 229.601 0.118
201303 0.040 232.773 0.042
201306 0.090 233.504 0.095
201309 0.000 234.149 0.000
201312 -0.120 233.049 -0.127
201403 -0.040 236.293 -0.042
201406 0.030 238.343 0.031
201409 -0.010 238.031 -0.010
201412 0.020 234.812 0.021
201503 -0.720 236.119 -0.753
201506 -0.210 238.638 -0.217
201509 -0.230 237.945 -0.239
201512 -0.090 236.525 -0.094
201603 -0.040 238.132 -0.041
201606 0.060 241.018 0.061
201609 -0.030 241.428 -0.031
201612 -0.010 241.432 -0.010
201703 0.030 243.801 0.030
201706 -0.140 244.955 -0.141
201709 -0.070 246.819 -0.070

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.

Ballantyne Strong Inc's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=5.10/0.03
=170.00

* 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 Ballantyne Strong Inc was 416.50. The lowest was 11.85. And the median was 37.92.


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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