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BorgWarner E10

: $2.67 (As of Mar. 2020)
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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.

BorgWarner's adjusted earnings per share data for the three months ended in Mar. 2020 was $0.630. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.67 for the trailing ten years ended in Mar. 2020.

As of today (2020-07-03), BorgWarner's current stock price is $35.19. BorgWarner's E10 for the quarter that ended in Mar. 2020 was $2.67. BorgWarner's Shiller PE Ratio of today is 13.18.

During the past 13 years, the highest Shiller PE Ratio of BorgWarner was 59.88. The lowest was 7.68. And the median was 29.71.


BorgWarner E10 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.

BorgWarner Annual Data
Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.68 1.67 1.77 2.26 2.66

BorgWarner Quarterly Data
Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20
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 2.37 2.49 2.58 2.66 2.67

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.


BorgWarner E10 Distribution

* The bar in red indicates where BorgWarner's E10 falls into.



BorgWarner 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, BorgWarner's adjusted earnings per share data for the three months ended in Mar. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2020 (Change)*Current CPI (Mar. 2020)
=0.63/108.1733*108.1733
=0.630

Current CPI (Mar. 2020) = 108.1733.

BorgWarner Quarterly Data

per share eps CPI Adj_EPS
201006 0.340 91.981 0.400
201009 0.435 92.277 0.510
201012 0.445 92.914 0.518
201103 0.500 94.890 0.570
201106 0.655 95.319 0.743
201109 0.575 95.529 0.651
201112 0.495 95.632 0.560
201203 0.640 97.075 0.713
201206 0.500 96.661 0.560
201209 0.425 97.595 0.471
201212 0.515 97.158 0.573
201303 0.610 98.107 0.673
201306 0.750 98.557 0.823
201309 0.720 98.536 0.790
201312 0.620 98.692 0.680
201403 0.690 100.023 0.746
201406 0.830 100.520 0.893
201409 0.730 100.176 0.788
201412 0.610 98.604 0.669
201503 0.790 99.824 0.856
201506 0.650 100.691 0.698
201509 0.700 100.346 0.755
201512 0.560 99.957 0.606
201603 0.750 100.947 0.804
201606 0.760 101.524 0.810
201609 0.390 101.988 0.414
201612 -1.390 102.456 -1.468
201703 0.890 103.167 0.933
201706 1.000 103.278 1.047
201709 0.880 104.070 0.915
201712 -0.700 104.578 -0.724
201803 1.070 105.708 1.095
201806 1.300 106.324 1.323
201809 0.980 106.695 0.994
201812 1.100 106.200 1.120
201903 0.770 107.818 0.773
201906 0.830 108.250 0.829
201909 0.940 108.577 0.937
201912 1.060 108.841 1.054
202003 0.630 108.173 0.630

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


BorgWarner  (NYSE:BWA) 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.

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

Shiller PE Ratio=Share Price/E10
=35.19/2.67
=13.18

* 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 BorgWarner was 59.88. The lowest was 7.68. And the median was 29.71.


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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