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Chevron (BUE:CVX) E10 : ARS497.06 (As of Dec. 2024)


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What is Chevron E10?

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.

Chevron's adjusted earnings per share data for the three months ended in Dec. 2024 was ARS14,867.200. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ARS497.06 for the trailing ten years ended in Dec. 2024.

During the past 12 months, Chevron's average E10 Growth Rate was -2.50% per year. During the past 3 years, the average E10 Growth Rate was 1.50% per year. During the past 5 years, the average E10 Growth Rate was -3.60% per year. During the past 10 years, the average E10 Growth Rate was -5.60% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Chevron was 22.30% per year. The lowest was -11.10% per year. And the median was 5.55% per year.

As of today (2025-03-17), Chevron's current stock price is ARS12475.00. Chevron's E10 for the quarter that ended in Dec. 2024 was ARS497.06. Chevron's Shiller PE Ratio of today is 25.10.

During the past 13 years, the highest Shiller PE Ratio of Chevron was 27.05. The lowest was 6.64. And the median was 12.85.


Chevron E10 Historical Data

The historical data trend for Chevron's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Chevron E10 Chart

Chevron Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 122.73 163.17 298.24 843.23 497.06

Chevron Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
E10 Get a 7-Day Free Trial 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 843.23 471.41 586.69 524.84 497.06

Competitive Comparison of Chevron's E10

For the Oil & Gas Integrated subindustry, Chevron's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* 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. Note that "N/A" values will not show up in the chart.


Chevron's Shiller PE Ratio Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Chevron's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Chevron's Shiller PE Ratio falls into.



Chevron E10 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.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Chevron's adjusted earnings per share data for the three months ended in Dec. 2024 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2024 (Change)*Current CPI (Dec. 2024)
=14867.2/133.1571*133.1571
=14,867.200

Current CPI (Dec. 2024) = 133.1571.

Chevron Quarterly Data

per share eps CPI Adj_EPS
201503 96.664 99.621 129.205
201506 21.808 100.684 28.842
201509 81.988 100.392 108.747
201512 -32.099 99.792 -42.831
201603 -45.564 100.470 -60.388
201606 -87.234 101.688 -114.230
201609 81.147 101.861 106.079
201612 27.900 101.863 36.471
201703 173.904 102.862 225.122
201706 101.566 103.349 130.860
201709 144.394 104.136 184.635
201712 250.526 104.011 320.728
201803 306.265 105.290 387.326
201806 355.146 106.317 444.805
201809 621.167 106.507 776.597
201812 588.198 105.998 738.908
201903 434.681 107.251 539.679
201906 811.371 108.070 999.725
201909 608.475 108.329 747.930
201912 -1,678.443 108.420 -2,061.395
202003 958.350 108.902 1,171.803
202006 -2,431.699 108.767 -2,976.979
202009 -71.270 109.815 -86.419
202012 -214.843 109.897 -260.316
202103 518.861 111.754 618.231
202106 1,212.544 114.631 1,408.504
202109 2,495.346 115.734 2,870.999
202112 2,124.830 117.630 2,405.317
202203 2,765.904 121.301 3,036.247
202206 5,727.708 125.017 6,100.660
202209 6,425.048 125.227 6,831.947
202212 4,466.196 125.222 4,749.219
202303 5,468.184 127.348 5,717.629
202306 6,144.000 128.729 6,355.360
202309 9,742.608 129.860 9,990.008
202312 3,523.360 129.419 3,625.116
202403 20,017.800 131.776 20,227.569
202406 17,408.520 132.554 17,487.752
202409 18,857.919 133.029 18,876.092
202412 14,867.200 133.157 14,867.200

Add all the adjusted EPS together and divide 10 will get our e10.


Chevron  (BUE:CVX) 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.

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

Shiller PE Ratio=Share Price/E10
=12475.00/497.06
=25.10

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of Chevron was 27.05. The lowest was 6.64. And the median was 12.85.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Chevron E10 Related Terms

Thank you for viewing the detailed overview of Chevron's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Chevron Business Description

Address
6001 Bollinger Canyon Road, San Ramon, CA, USA, 94583-2324
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.