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ESBA (Empire State Realty OP LP) E10 : $0.29 (As of Dec. 2024)


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What is Empire State Realty OP LP E10?

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.

Empire State Realty OP LP's adjusted earnings per share data for the three months ended in Dec. 2024 was $0.070. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.29 for the trailing ten years ended in Dec. 2024.

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 (2025-03-14), Empire State Realty OP LP's current stock price is $7.97. Empire State Realty OP LP's E10 for the quarter that ended in Dec. 2024 was $0.29. Empire State Realty OP LP's Shiller PE Ratio of today is 27.48.

During the past 13 years, the highest Shiller PE Ratio of Empire State Realty OP LP was 39.48. The lowest was 14.19. And the median was 23.37.


Empire State Realty OP LP E10 Historical Data

The historical data trend for Empire State Realty OP LP'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.

* Premium members only.

Empire State Realty OP LP E10 Chart

Empire State Realty OP LP Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - 0.36 0.29 0.29

Empire State Realty OP LP Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
E10 Get a 7-Day Free Trial 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 0.29 0.29 0.29 0.29 0.29

Competitive Comparison of Empire State Realty OP LP's E10

For the REIT - Office subindustry, Empire State Realty OP LP's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* 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. Note that "N/A" values will not show up in the chart.


Empire State Realty OP LP's Shiller PE Ratio Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Empire State Realty OP LP's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Empire State Realty OP LP's Shiller PE Ratio falls into.



Empire State Realty OP LP 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, Empire State Realty OP LP's adjusted earnings per share data for the three months ended in Dec. 2024 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2024 (Change)*Current CPI (Dec. 2024)
=0.07/133.1571*133.1571
=0.070

Current CPI (Dec. 2024) = 133.1571.

Empire State Realty OP LP Quarterly Data

per share eps CPI Adj_EPS
201503 0.030 99.621 0.040
201506 0.100 100.684 0.132
201509 0.100 100.392 0.133
201512 0.070 99.792 0.093
201603 0.060 100.470 0.080
201606 0.090 101.688 0.118
201609 0.120 101.861 0.157
201612 0.110 101.863 0.144
201703 0.060 102.862 0.078
201706 0.100 103.349 0.129
201709 0.120 104.136 0.153
201712 0.110 104.011 0.141
201803 0.060 105.290 0.076
201806 0.100 106.317 0.125
201809 0.100 106.507 0.125
201812 0.130 105.998 0.163
201903 0.030 107.251 0.037
201906 0.060 108.070 0.074
201909 0.090 108.329 0.111
201912 0.090 108.420 0.111
202003 0.020 108.902 0.024
202006 -0.070 108.767 -0.086
202009 -0.050 109.815 -0.061
202012 0.000 109.897 0.000
202103 -0.020 111.754 -0.024
202106 0.010 114.631 0.012
202109 -0.040 115.734 -0.046
202112 -0.020 117.630 -0.023
202203 -0.070 121.301 -0.077
202206 0.170 125.017 0.181
202209 0.030 125.227 0.032
202212 0.080 125.222 0.085
202303 0.040 127.348 0.042
202306 0.140 128.729 0.145
202309 0.043 129.860 0.044
202312 0.060 129.419 0.062
202403 0.030 131.776 0.030
202406 0.100 132.554 0.100
202409 0.080 133.029 0.080
202412 0.070 133.157 0.070

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


Empire State Realty OP LP  (ARCA:ESBA) 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.

Empire State Realty OP LP's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=7.97/0.29
=27.48

* 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.

During the past 13 years, the highest Shiller P/E Ratio of Empire State Realty OP LP was 39.48. The lowest was 14.19. And the median was 23.37.


Be Aware

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


Empire State Realty OP LP E10 Related Terms

Thank you for viewing the detailed overview of Empire State Realty OP LP's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Empire State Realty OP LP Business Description

Traded in Other Exchanges
Address
111 West 33rd Street, 12th Floor, New York, NY, USA, 10120
Empire State Realty OP LP is the operating partner of Empire State Realty Inc. The company along with its partner manages, operates, acquires and repositions properties in Manhattan and the greater New York metropolitan area. The firm operates in two segments, Real Estate and Observatory. Through the Real Estate segment, it offers services related to the ownership, management, operation, acquisition, repositioning and disposition of its real estate assets. Under the Observatory segment, it operates the two observatories of the Empire State Building. The company generates maximum revenue from the Real Estate segment.