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ExlService Holdings Inc  (NAS:EXLS) E10: $1.23 (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.

ExlService Holdings Inc's adjusted earnings per share data for the three months ended in Jun. 2017 was $0.580. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.23 for the trailing ten years ended in Jun. 2017.

As of today, ExlService Holdings Inc's current stock price is $61.20. ExlService Holdings Inc's E10 for the quarter that ended in Jun. 2017 was $1.23. ExlService Holdings Inc's Shiller PE Ratio of today is 49.76.

During the past 13 years, the highest Shiller PE Ratio of ExlService Holdings Inc was 59.42. The lowest was 27.81. And the median was 40.43.


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.

ExlService Holdings 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 0.00 0.84 0.91 1.03 1.14

ExlService Holdings 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 1.10 1.13 1.14 1.18 1.23

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, ExlService Holdings 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)
=0.58/244.955*244.955
=0.580

Current CPI (Jun. 2017) = 244.955.

ExlService Holdings Inc Quarterly Data

per share eps CPI Adj_EPS
200709 0.210 208.490 0.247
200712 0.340 210.036 0.397
200803 0.230 213.528 0.264
200806 0.180 218.815 0.202
200809 -0.040 218.783 -0.045
200812 0.110 210.228 0.128
200903 0.100 212.709 0.115
200906 0.040 215.693 0.045
200909 0.140 215.969 0.159
200912 0.250 215.949 0.284
201003 0.190 217.631 0.214
201006 0.160 217.965 0.180
201009 0.260 218.439 0.292
201012 0.280 219.179 0.313
201103 0.270 223.467 0.296
201106 0.270 225.722 0.293
201109 0.270 226.889 0.291
201112 0.290 225.672 0.315
201203 0.270 229.392 0.288
201206 0.270 229.478 0.288
201209 0.350 231.407 0.370
201212 0.360 229.601 0.384
201303 0.290 232.773 0.305
201306 0.270 233.504 0.283
201309 0.390 234.149 0.408
201312 0.470 233.049 0.494
201403 0.330 236.293 0.342
201406 0.230 238.343 0.236
201409 0.180 238.031 0.185
201412 0.220 234.812 0.230
201503 0.280 236.119 0.290
201506 0.350 238.638 0.359
201509 0.440 237.945 0.453
201512 0.430 236.525 0.445
201603 0.400 238.132 0.411
201606 0.470 241.018 0.478
201609 0.460 241.428 0.467
201612 0.450 241.432 0.457
201703 0.480 243.801 0.482
201706 0.580 244.955 0.580

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.

ExlService Holdings Inc's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=61.20/1.23
=49.76

* 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 ExlService Holdings Inc was 59.42. The lowest was 27.81. And the median was 40.43.


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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