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E*TRADE Financial E10

: $1.54 (As of Mar. 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.

E*TRADE Financial's adjusted earnings per share data for the three months ended in Mar. 2020 was $0.720. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.54 for the trailing ten years ended in Mar. 2020.

As of today (2020-07-04), E*TRADE Financial's current stock price is $49.28. E*TRADE Financial's E10 for the quarter that ended in Mar. 2020 was $1.54. E*TRADE Financial's Shiller PE Ratio of today is 32.00.

During the past 13 years, the highest Shiller PE Ratio of E*TRADE Financial was 730.57. The lowest was 18.82. And the median was 32.27.


E*TRADE Financial 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.

E*TRADE Financial Annual Data
Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -4.49 -6.15 -2.05 -0.52 1.45

E*TRADE Financial Quarterly Data
Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20
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 0.07 0.42 1.33 1.45 1.54

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.


E*TRADE Financial E10 Distribution

* The bar in red indicates where E*TRADE Financial's E10 falls into.



E*TRADE Financial 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, E*TRADE Financial's adjusted earnings per share data for the three months ended in Mar. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2020 (Change)*Current CPI (Mar. 2020)
=0.72/108.1733*108.1733
=0.720

Current CPI (Mar. 2020) = 108.1733.

E*TRADE Financial Quarterly Data

per share eps CPI Adj_EPS
201006 0.120 91.981 0.141
201009 0.030 92.277 0.035
201012 -0.110 92.914 -0.128
201103 0.160 94.890 0.182
201106 0.160 95.319 0.182
201109 0.240 95.529 0.272
201112 -0.030 95.632 -0.034
201203 0.220 97.075 0.245
201206 0.140 96.661 0.157
201209 -0.100 97.595 -0.111
201212 -0.650 97.158 -0.724
201303 0.120 98.107 0.132
201306 -0.190 98.557 -0.209
201309 0.160 98.536 0.176
201312 0.200 98.692 0.219
201403 0.330 100.023 0.357
201406 0.240 100.520 0.258
201409 0.290 100.176 0.313
201412 0.140 98.604 0.154
201503 0.140 99.824 0.152
201506 0.990 100.691 1.064
201509 -0.530 100.346 -0.571
201512 0.300 99.957 0.325
201603 0.530 100.947 0.568
201606 0.480 101.524 0.511
201609 0.510 101.988 0.541
201612 0.460 102.456 0.486
201703 0.480 103.167 0.503
201706 0.700 103.278 0.733
201709 0.490 104.070 0.509
201712 0.480 104.578 0.497
201803 0.880 105.708 0.901
201806 0.950 106.324 0.967
201809 1.000 106.695 1.014
201812 1.060 106.200 1.080
201903 1.090 107.818 1.094
201906 0.900 108.250 0.899
201909 1.080 108.577 1.076
201912 0.760 108.841 0.755
202003 0.720 108.173 0.720

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


E*TRADE Financial  (NAS:ETFC) 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.

E*TRADE Financial's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=49.28/1.54
=32.00

* 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 E*TRADE Financial was 730.57. The lowest was 18.82. And the median was 32.27.


Be Aware

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


E*TRADE Financial E10 Related Terms


E*TRADE Financial E10 Headlines

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