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Denbury Resources Inc  (NYSE:DNR) E10: $-0.65 (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.

Denbury Resources Inc's adjusted earnings per share data for the three months ended in Jun. 2017 was $0.040. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $-0.65 for the trailing ten years ended in Jun. 2017.

As of today, Denbury Resources Inc's current stock price is $1.19. Denbury Resources Inc's E10 for the quarter that ended in Jun. 2017 was $-0.65. Denbury Resources Inc's Shiller PE Ratio of today is .

During the past 13 years, the highest Shiller PE Ratio of Denbury Resources Inc was 360.40. The lowest was 0.00. And the median was 23.29.


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.

Denbury Resources 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 0.85 0.94 1.08 -0.24 -0.60

Denbury Resources 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 -0.44 -0.48 -0.60 -0.61 -0.65

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, Denbury Resources 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)
=0.04/244.955*244.955
=0.040

Current CPI (Jun. 2017) = 244.955.

Denbury Resources Inc Quarterly Data

per share eps CPI Adj_EPS
200709 0.270 208.490 0.317
200712 0.415 210.036 0.484
200803 0.290 213.528 0.333
200806 0.450 218.815 0.504
200809 0.630 218.783 0.705
200812 0.180 210.228 0.210
200903 -0.070 212.709 -0.081
200906 -0.350 215.693 -0.397
200909 0.110 215.969 0.125
200912 0.020 215.949 0.023
201003 0.320 217.631 0.360
201006 0.340 217.965 0.382
201009 0.070 218.439 0.078
201012 0.010 219.179 0.011
201103 -0.040 223.467 -0.044
201106 0.640 225.722 0.695
201109 0.680 226.889 0.734
201112 0.140 225.672 0.152
201203 0.290 229.392 0.310
201206 0.540 229.478 0.576
201209 0.220 231.407 0.233
201212 0.300 229.601 0.320
201303 0.230 232.773 0.242
201306 0.350 233.504 0.367
201309 0.280 234.149 0.293
201312 0.250 233.049 0.263
201403 0.170 236.293 0.176
201406 -0.160 238.343 -0.164
201409 0.770 238.031 0.792
201412 1.040 234.812 1.085
201503 -0.310 236.119 -0.322
201506 -3.280 238.638 -3.367
201509 -6.410 237.945 -6.599
201512 -2.560 236.525 -2.651
201603 -0.530 238.132 -0.545
201606 -1.030 241.018 -1.047
201609 -0.060 241.428 -0.061
201612 -1.010 241.432 -1.025
201703 0.050 243.801 0.050
201706 0.040 244.955 0.040

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.

Denbury Resources Inc's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=1.19/-0.65
=

* 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 Denbury Resources Inc was 360.40. The lowest was 0.00. And the median was 23.29.


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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