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First Capital Bancorp Inc  (NAS:FCVA) E10: $-0.06 (As of Sep. 2015)

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.

First Capital Bancorp Inc's adjusted earnings per share data for the three months ended in Sep. 2015 was $0.090. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $-0.06 for the trailing ten years ended in Sep. 2015.

As of today, First Capital Bancorp Inc's current stock price is $5.56. First Capital Bancorp Inc's E10 for the quarter that ended in Sep. 2015 was $-0.06. First Capital Bancorp Inc's Shiller PE Ratio of today is .


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.

First Capital Bancorp Inc Annual Data

Dec04 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.44 0.30 0.17 0.10 -0.03

First Capital Bancorp Inc Quarterly Data

Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15
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 -0.02 -0.03 -0.04 -0.05 -0.06

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, First Capital Bancorp Inc's adjusted earnings per share data for the three months ended in Sep. 2015 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2015 (Change)*Current CPI (Sep. 2015)
=0.09/237.945*237.945
=0.090

Current CPI (Sep. 2015) = 237.945.

First Capital Bancorp Inc Quarterly Data

per share eps CPI Adj_EPS
200412 0.133 190.300 0.166
200503 0.167 193.300 0.206
200506 0.133 194.500 0.163
200609 0.210 202.900 0.246
200612 0.209 201.800 0.246
200703 0.190 205.352 0.220
200706 0.180 208.352 0.206
200709 0.170 208.490 0.194
200712 0.176 210.036 0.199
200803 0.140 213.528 0.156
200806 0.130 218.815 0.141
200809 -0.160 218.783 -0.174
200812 -0.057 210.228 -0.065
200903 0.030 212.709 0.034
200906 -0.300 215.693 -0.331
200909 0.080 215.969 0.088
200912 0.122 215.949 0.134
201003 0.060 217.631 0.066
201006 -1.230 217.965 -1.343
201009 0.160 218.439 0.174
201012 0.048 219.179 0.052
201103 0.100 223.467 0.106
201106 -0.510 225.722 -0.538
201109 -0.930 226.889 -0.975
201112 0.079 225.672 0.083
201203 0.050 229.392 0.052
201206 -0.990 229.478 -1.027
201209 0.060 231.407 0.062
201212 0.036 229.601 0.037
201303 0.050 232.773 0.051
201306 0.070 233.504 0.071
201309 0.070 234.149 0.071
201312 0.064 233.049 0.065
201403 0.060 236.293 0.060
201406 0.070 238.343 0.070
201409 0.080 238.031 0.080
201412 0.089 234.812 0.090
201503 0.070 236.119 0.071
201506 0.080 238.638 0.080
201509 0.090 237.945 0.090

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.

First Capital Bancorp Inc's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=5.56/-0.06
=

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


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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