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FMC E10

: $3.20 (As of Sep. 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.

FMC's adjusted earnings per share data for the three months ended in Sep. 2020 was $0.850. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $3.20 for the trailing ten years ended in Sep. 2020.

As of today (2021-01-16), FMC's current stock price is $120.050000. FMC's E10 for the quarter that ended in Sep. 2020 was $3.20. FMC's Shiller PE Ratio of today is 37.52.

During the past 13 years, the highest Shiller PE Ratio of FMC was 59.92. The lowest was 13.15. And the median was 31.14.


FMC 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.

FMC 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 2.09 2.20 2.55 2.72 2.97

FMC Quarterly Data
Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20
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 3.01 2.97 3.04 3.16 3.20

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.


FMC E10 Distribution

* The bar in red indicates where FMC's E10 falls into.



FMC 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, FMC's adjusted earnings per share data for the three months ended in Sep. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2020 (Change)*Current CPI (Sep. 2020)
=0.85/109.8605*109.8605
=0.850

Current CPI (Sep. 2020) = 109.8605.

FMC Quarterly Data

per share eps CPI Adj_EPS
201012 -0.365 92.914 -0.432
201103 0.650 94.890 0.753
201106 0.740 95.319 0.853
201109 0.610 95.529 0.702
201112 0.550 95.632 0.632
201203 0.850 97.075 0.962
201206 0.760 96.661 0.864
201209 0.650 97.595 0.732
201212 0.740 97.158 0.837
201303 0.940 98.107 1.053
201306 0.860 98.557 0.959
201309 0.130 98.536 0.145
201312 0.200 98.692 0.223
201403 0.490 100.023 0.538
201406 0.810 100.520 0.885
201409 0.420 100.176 0.461
201412 0.570 98.604 0.635
201503 -0.350 99.824 -0.385
201506 5.520 100.691 6.023
201509 -0.020 100.346 -0.022
201512 -1.530 99.957 -1.682
201603 0.360 100.947 0.392
201606 0.490 101.524 0.530
201609 0.590 101.988 0.636
201612 0.120 102.456 0.129
201703 -0.930 103.167 -0.990
201706 0.560 103.278 0.596
201709 0.410 104.070 0.433
201712 3.940 104.578 4.139
201803 1.960 105.708 2.037
201806 0.960 106.324 0.992
201809 0.540 106.695 0.556
201812 0.240 106.200 0.248
201903 1.620 107.818 1.651
201906 1.320 108.250 1.340
201909 0.690 108.577 0.698
201912 -0.020 108.841 -0.020
202003 1.580 108.173 1.605
202006 1.410 109.318 1.417
202009 0.850 109.861 0.850

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


FMC  (NYSE:FMC) 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.

FMC's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=120.050000/3.2
=37.52

* 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 FMC was 59.92. The lowest was 13.15. And the median was 31.14.


Be Aware

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


FMC E10 Related Terms


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