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Dolby Laboratories E10

: $2.18 (As of Jun. 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.

Dolby Laboratories's adjusted earnings per share data for the three months ended in Jun. 2020 was $0.660. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.18 for the trailing ten years ended in Jun. 2020.

As of today (2020-09-18), Dolby Laboratories's current stock price is $66.05. Dolby Laboratories's E10 for the quarter that ended in Jun. 2020 was $2.18. Dolby Laboratories's Shiller PE Ratio of today is 30.30.

During the past 13 years, the highest Shiller PE Ratio of Dolby Laboratories was 33.43. The lowest was 15.06. And the median was 22.93.


Dolby Laboratories 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.

Dolby Laboratories Annual Data
Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.04 2.16 2.25 2.16 2.19

Dolby Laboratories Quarterly Data
Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20
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 2.19 2.19 2.17 2.16 2.18

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.


Dolby Laboratories E10 Distribution

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



Dolby Laboratories 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, Dolby Laboratories's adjusted earnings per share data for the three months ended in Jun. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2020 (Change)*Current CPI (Jun. 2020)
=0.66/109.3175*109.3175
=0.660

Current CPI (Jun. 2020) = 109.3175.

Dolby Laboratories Quarterly Data

per share eps CPI Adj_EPS
201009 0.570 92.277 0.675
201012 0.760 92.914 0.894
201103 0.720 94.890 0.829
201106 0.550 95.319 0.631
201109 0.720 95.529 0.824
201112 0.670 95.632 0.766
201203 0.810 97.075 0.912
201206 0.480 96.661 0.543
201209 0.490 97.595 0.549
201212 0.500 97.158 0.563
201303 0.600 98.107 0.669
201306 0.290 98.557 0.322
201309 0.440 98.536 0.488
201312 0.430 98.692 0.476
201403 0.730 100.023 0.798
201406 0.380 100.520 0.413
201409 0.440 100.176 0.480
201412 0.400 98.604 0.443
201503 0.560 99.824 0.613
201506 0.340 100.691 0.369
201509 0.430 100.346 0.468
201512 0.300 99.957 0.328
201603 0.660 100.947 0.715
201606 0.620 101.524 0.668
201609 0.230 101.988 0.247
201612 0.510 102.456 0.544
201703 0.490 103.167 0.519
201706 0.730 103.278 0.773
201709 0.210 104.070 0.221
201712 -0.520 104.578 -0.544
201803 0.610 105.708 0.631
201806 0.030 106.324 0.031
201809 0.470 106.695 0.482
201812 0.930 106.200 0.957
201903 0.700 107.818 0.710
201906 0.380 108.250 0.384
201909 0.430 108.577 0.433
201912 0.470 108.841 0.472
202003 0.860 108.173 0.869
202006 0.660 109.318 0.660

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


Dolby Laboratories  (NYSE:DLB) 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.

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

Shiller PE Ratio=Share Price/E10
=66.05/2.18
=30.30

* 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 Dolby Laboratories was 33.43. The lowest was 15.06. And the median was 22.93.


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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