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Forest City Realty Trust Inc  (NYSE:FCE.A) E10: $0.02 (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.

Forest City Realty Trust Inc's adjusted earnings per share data for the three months ended in Sep. 2017 was $0.020. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.02 for the trailing ten years ended in Sep. 2017.

As of today, Forest City Realty Trust Inc's current stock price is $25.10. Forest City Realty Trust Inc's E10 for the quarter that ended in Sep. 2017 was $0.02. Forest City Realty Trust Inc's Shiller PE Ratio of today is 1,255.00.

During the past 13 years, the highest Shiller PE Ratio of Forest City Realty Trust Inc was 1326.86. The lowest was 4.99. And the median was 60.08.


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.

Forest City Realty Trust Inc Annual Data

Jan07 Jan08 Jan09 Jan10 Jan11 Jan12 Jan13 Dec14 Dec15 Dec16
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.36 0.30 0.18 0.28 0.02

Forest City Realty Trust Inc Quarterly Data

Jan13 Mar13 Apr13 Jul13 Oct13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17
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 0.10 0.02 0.06 0.00 0.02

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, Forest City Realty Trust Inc'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)
=0.02/246.819*246.819
=0.020

Current CPI (Sep. 2017) = 246.819.

Forest City Realty Trust Inc Quarterly Data

per share eps CPI Adj_EPS
200801 0.130 211.080 0.152
200804 -0.390 214.823 -0.448
200807 -0.080 219.964 -0.090
200810 -0.190 216.573 -0.217
200901 -0.440 211.143 -0.514
200904 -0.300 213.240 -0.347
200907 -0.010 215.351 -0.011
200910 -0.030 216.177 -0.034
201001 0.050 216.687 0.057
201004 -0.100 218.009 -0.113
201007 0.620 218.011 0.702
201010 -0.330 218.711 -0.372
201101 -0.040 220.223 -0.045
201104 0.230 224.906 0.252
201107 0.030 225.922 0.033
201110 -0.240 226.421 -0.262
201201 -0.650 226.665 -0.708
201204 0.110 230.085 0.118
201207 -0.280 229.104 -0.302
201210 -0.110 231.317 -0.117
201301 0.290 230.280 0.311
201303 -0.110 232.773 -0.117
201304 -0.110 232.531 -0.117
201307 -0.080 233.596 -0.085
201310 0.670 233.546 0.708
201403 0.080 236.293 0.084
201406 -0.470 238.343 -0.487
201409 0.003 238.031 0.003
201412 0.350 234.812 0.368
201503 -0.270 236.119 -0.282
201506 1.180 238.638 1.220
201509 -1.180 237.945 -1.224
201512 2.200 236.525 2.296
201603 0.920 238.132 0.954
201606 0.100 241.018 0.102
201609 -1.670 241.428 -1.707
201612 0.010 241.432 0.010
201703 0.160 243.801 0.162
201706 0.220 244.955 0.222
201709 0.020 246.819 0.020

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.

Forest City Realty Trust Inc's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=25.10/0.02
=1,255.00

* 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 Forest City Realty Trust Inc was 1326.86. The lowest was 4.99. And the median was 60.08.


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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