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# Coty (NYSE:COTY) E10

: \$-0.75 (As of Jun. 2023)
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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.

Coty's adjusted earnings per share data for the three months ended in Jun. 2023 was \$0.030. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is \$-0.75 for the trailing ten years ended in Jun. 2023.

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.

As of today (2023-10-04), Coty's current stock price is \$10.286. Coty's E10 for the quarter that ended in Jun. 2023 was \$-0.75. Coty's Shiller PE Ratio of today is .

## Coty E10 Historical Data

The historical data trend for Coty'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.

Coty Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
E10
- - -0.78 -0.73 -0.75

 Coty Quarterly Data Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 E10 -0.73 -0.75 -0.76 -0.77 -0.75

## Coty 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, Coty's adjusted earnings per share data for the three months ended in Jun. 2023 was:

 Adj_EPS = Earnings per Share (Diluted) / CPI of Jun. 2023 (Change) * Current CPI (Jun. 2023) = 0.03 / 128.7287 * 128.7287 = 0.030

Current CPI (Jun. 2023) = 128.7287.

Coty Quarterly Data

 per share eps CPI Adj_EPS 201309 0.240 98.790 0.313 201312 0.210 98.326 0.275 201403 -0.660 99.695 -0.852 201406 -0.060 100.560 -0.077 201409 0.030 100.428 0.038 201412 0.350 99.070 0.455 201503 0.210 99.621 0.271 201506 0.050 100.684 0.064 201509 0.340 100.392 0.436 201512 0.250 99.792 0.322 201603 -0.080 100.470 -0.103 201606 -0.090 101.688 -0.114 201609 0.000 101.861 0.000 201612 0.060 101.863 0.076 201703 -0.220 102.862 -0.275 201706 -0.410 103.349 -0.511 201709 -0.030 104.136 -0.037 201712 0.150 104.011 0.186 201803 -0.100 105.290 -0.122 201806 -0.240 106.317 -0.291 201809 -0.020 106.507 -0.024 201812 -1.280 105.998 -1.554 201903 -0.020 107.251 -0.024 201906 -3.720 108.070 -4.431 201909 0.070 108.329 0.083 201912 -0.030 108.420 -0.036 202003 -0.360 108.902 -0.426 202006 -1.010 108.767 -1.195 202009 0.240 109.815 0.281 202012 -0.360 109.897 -0.422 202103 -0.020 111.754 -0.023 202106 -0.270 114.631 -0.303 202109 0.130 115.734 0.145 202112 0.230 117.630 0.252 202203 0.060 121.301 0.064 202206 -0.340 125.017 -0.350 202209 0.150 125.227 0.154 202212 0.270 125.222 0.278 202303 0.120 127.348 0.121 202306 0.030 128.729 0.030

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

Coty  (NYSE:COTY) 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.

Be Aware

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

## Coty E10 Related Terms

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