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FRSB (First Resource Bancorp) E10 : $1.25 (As of Sep. 2024)


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What is First Resource Bancorp E10?

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 Resource Bancorp's adjusted earnings per share data for the three months ended in Sep. 2024 was $0.530. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.25 for the trailing ten years ended in Sep. 2024.

During the past 12 months, First Resource Bancorp's average E10 Growth Rate was 10.60% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

As of today (2025-03-14), First Resource Bancorp's current stock price is $14.25. First Resource Bancorp's E10 for the quarter that ended in Sep. 2024 was $1.25. First Resource Bancorp's Shiller PE Ratio of today is 11.40.

During the past 13 years, the highest Shiller PE Ratio of First Resource Bancorp was 21.87. The lowest was 9.69. And the median was 12.42.


First Resource Bancorp E10 Historical Data

The historical data trend for First Resource Bancorp's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

First Resource Bancorp E10 Chart

First Resource Bancorp Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - 0.66 0.95 1.12

First Resource Bancorp Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
E10 Get a 7-Day Free Trial 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 1.13 1.12 1.19 1.21 1.25

Competitive Comparison of First Resource Bancorp's E10

For the Banks - Regional subindustry, First Resource Bancorp's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* 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. Note that "N/A" values will not show up in the chart.


First Resource Bancorp's Shiller PE Ratio Distribution in the Banks Industry

For the Banks industry and Financial Services sector, First Resource Bancorp's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where First Resource Bancorp's Shiller PE Ratio falls into.



First Resource Bancorp 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, First Resource Bancorp's adjusted earnings per share data for the three months ended in Sep. 2024 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2024 (Change)*Current CPI (Sep. 2024)
=0.53/133.0289*133.0289
=0.530

Current CPI (Sep. 2024) = 133.0289.

First Resource Bancorp Quarterly Data

per share eps CPI Adj_EPS
201412 0.123 99.070 0.165
201503 0.148 99.621 0.198
201506 0.000 100.684 0.000
201509 0.130 100.392 0.172
201512 0.099 99.792 0.132
201603 0.104 100.470 0.138
201606 0.130 101.688 0.170
201609 0.138 101.861 0.180
201612 0.161 101.863 0.210
201703 0.164 102.862 0.212
201706 0.155 103.349 0.200
201709 0.155 104.136 0.198
201712 0.132 104.011 0.169
201803 0.155 105.290 0.196
201806 0.172 106.317 0.215
201809 0.181 106.507 0.226
201812 0.200 105.998 0.251
201903 0.118 107.251 0.146
201906 0.209 108.070 0.257
201909 0.227 108.329 0.279
201912 0.209 108.420 0.256
202003 0.209 108.902 0.255
202006 0.219 108.767 0.268
202009 0.267 109.815 0.323
202012 0.371 109.897 0.449
202103 0.295 111.754 0.351
202106 0.343 114.631 0.398
202109 0.419 115.734 0.482
202112 0.305 117.630 0.345
202203 0.429 121.301 0.470
202206 0.450 125.017 0.479
202209 0.500 125.227 0.531
202212 0.447 125.222 0.475
202303 0.410 127.348 0.428
202306 0.470 128.729 0.486
202309 0.510 129.860 0.522
202312 0.532 129.419 0.547
202403 0.430 131.776 0.434
202406 0.440 132.554 0.442
202409 0.530 133.029 0.530

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


First Resource Bancorp  (OTCPK:FRSB) 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 Resource Bancorp's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=14.25/1.25
=11.40

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of First Resource Bancorp was 21.87. The lowest was 9.69. And the median was 12.42.


Be Aware

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


First Resource Bancorp E10 Related Terms

Thank you for viewing the detailed overview of First Resource Bancorp's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


First Resource Bancorp Business Description

Traded in Other Exchanges
N/A
Address
1 E. Uwchlan Avenue, Suite 410, Exton, PA, USA, 19341
First Resource Bancorp Inc is a community bank. It is a full-service bank providing personal and business lending and deposit services. The company serves the southeastern area of Pennsylvania. The bank offers a range of commercial and consumer deposit accounts and regular savings accounts.