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DTE Energy Co  (NYSE:DTE) E10: \$4.51 (As of Sep. 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.

DTE Energy Co's adjusted earnings per share data for the three months ended in Sep. 2017 was \$1.510. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is \$4.51 for the trailing ten years ended in Sep. 2017.

As of today, DTE Energy Co's current stock price is \$103.47. DTE Energy Co's E10 for the quarter that ended in Sep. 2017 was \$4.51. DTE Energy Co's Shiller PE Ratio of today is 22.94.

During the past 13 years, the highest Shiller PE Ratio of DTE Energy Co was 25.61. The lowest was 6.99. And the median was 15.81.

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

DTE Energy Co Annual Data

 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 E10 3.76 3.86 4.09 4.16 4.44

DTE Energy Co Quarterly Data

 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 E10 4.46 4.44 4.62 4.46 4.51

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, DTE Energy Co's adjusted earnings per share data for the three months ended in Sep. 2017 was:

 Adj_EPS = Earnings per Share (Diluted) / CPI of Sep. 2017 (Change) * Current CPI (Sep. 2017) = 1.51 / 246.819 * 246.819 = 1.510

Current CPI (Sep. 2017) = 246.819.

DTE Energy Co Quarterly Data

 per share eps CPI Adj_EPS 200712 1.550 210.036 1.821 200803 1.300 213.528 1.503 200806 0.170 218.815 0.192 200809 1.080 218.783 1.218 200812 0.790 210.228 0.928 200903 1.090 212.709 1.265 200906 0.510 215.693 0.584 200909 0.920 215.969 1.051 200912 0.730 215.949 0.834 201003 1.380 217.631 1.565 201006 0.510 217.965 0.578 201009 0.960 218.439 1.085 201012 0.900 219.179 1.013 201103 1.040 223.467 1.149 201106 1.190 225.722 1.301 201109 1.070 226.889 1.164 201112 0.880 225.672 0.962 201203 0.910 229.392 0.979 201206 0.860 229.478 0.925 201209 1.310 231.407 1.397 201212 0.470 229.601 0.505 201303 1.340 232.773 1.421 201306 0.600 233.504 0.634 201309 1.130 234.149 1.191 201312 0.690 233.049 0.731 201403 1.840 236.293 1.922 201406 0.700 238.343 0.725 201409 0.880 238.031 0.912 201412 1.680 234.812 1.766 201503 1.530 236.119 1.599 201506 0.610 238.638 0.631 201509 1.470 237.945 1.525 201512 0.440 236.525 0.459 201603 1.370 238.132 1.420 201606 0.840 241.018 0.860 201609 1.880 241.428 1.922 201612 0.730 241.432 0.746 201703 2.230 243.801 2.258 201706 0.990 244.955 0.998 201709 1.510 246.819 1.510

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.

DTE Energy Co's Shiller P/E Ratio of today is calculated as

 Shiller PE Ratio = Share Price / E10 = 103.47 / 4.51 = 22.94

* 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 DTE Energy Co was 25.61. The lowest was 6.99. And the median was 15.81.

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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