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Douglas Emmett Inc  (NYSE:DEI) E10: $0.12 (As of Jun. 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.

Douglas Emmett Inc's adjusted earnings per share data for the three months ended in Jun. 2017 was $0.129. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.12 for the trailing ten years ended in Jun. 2017.

As of today, Douglas Emmett Inc's current stock price is $40.52. Douglas Emmett Inc's E10 for the quarter that ended in Jun. 2017 was $0.12. Douglas Emmett Inc's Shiller PE Ratio of today is 337.67.

During the past 13 years, the highest Shiller PE Ratio of Douglas Emmett Inc was 3403.00. The lowest was 312.75. And the median was 426.67.


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.

Douglas Emmett 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 0.00 0.00 -0.05 0.00 0.09

Douglas Emmett Inc Quarterly Data

Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17
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 0.02 0.04 0.09 0.11 0.12

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, Douglas Emmett Inc's adjusted earnings per share data for the three months ended in Jun. 2017 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2017 (Change)*Current CPI (Jun. 2017)
=0.129/244.955*244.955
=0.129

Current CPI (Jun. 2017) = 244.955.

Douglas Emmett Inc Quarterly Data

per share eps CPI Adj_EPS
200709 -0.030 208.490 -0.035
200712 -0.060 210.036 -0.070
200803 -0.020 213.528 -0.023
200806 -0.080 218.815 -0.090
200809 -0.080 218.783 -0.090
200812 -0.050 210.228 -0.058
200903 -0.020 212.709 -0.023
200906 -0.060 215.693 -0.068
200909 -0.070 215.969 -0.079
200912 -0.070 215.949 -0.079
201003 -0.070 217.631 -0.079
201006 -0.070 217.965 -0.079
201009 -0.030 218.439 -0.034
201012 -0.050 219.179 -0.056
201103 0.000 223.467 0.000
201106 -0.040 225.722 -0.043
201109 0.030 226.889 0.032
201112 0.030 225.672 0.033
201203 0.040 229.392 0.043
201206 0.050 229.478 0.053
201209 0.040 231.407 0.042
201212 0.040 229.601 0.043
201303 0.080 232.773 0.084
201306 0.090 233.504 0.094
201309 0.070 234.149 0.073
201312 0.057 233.049 0.060
201403 0.088 236.293 0.091
201406 0.090 238.343 0.092
201409 0.050 238.031 0.051
201412 0.073 234.812 0.076
201503 0.124 236.119 0.129
201506 0.089 238.638 0.091
201509 0.080 237.945 0.082
201512 0.093 236.525 0.096
201603 0.101 238.132 0.104
201606 0.120 241.018 0.122
201609 0.206 241.428 0.209
201612 0.126 241.432 0.128
201703 0.123 243.801 0.124
201706 0.129 244.955 0.129

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.

Douglas Emmett Inc's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=40.52/0.12
=337.67

* 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 Douglas Emmett Inc was 3403.00. The lowest was 312.75. And the median was 426.67.


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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