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Getty Realty Corp  (NYSE:GTY) E10: $1.33 (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.

Getty Realty Corp's adjusted earnings per share data for the three months ended in Sep. 2017 was $0.240. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.33 for the trailing ten years ended in Sep. 2017.

As of today, Getty Realty Corp's current stock price is $28.30. Getty Realty Corp's E10 for the quarter that ended in Sep. 2017 was $1.33. Getty Realty Corp's Shiller PE Ratio of today is 21.28.

During the past 13 years, the highest Shiller PE Ratio of Getty Realty Corp was 26.30. The lowest was 7.75. And the median was 12.41.


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.

Getty Realty Corp 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 1.58 1.64 1.51 1.42 1.35

Getty Realty Corp Quarterly Data

Dec12 Mar13 Jun13 Sep13 Dec13 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 1.37 1.35 1.34 1.35 1.33

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, Getty Realty Corp'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)
=0.24/246.819*246.819
=0.240

Current CPI (Sep. 2017) = 246.819.

Getty Realty Corp Quarterly Data

per share eps CPI Adj_EPS
200712 0.030 210.036 0.035
200803 0.460 213.528 0.532
200806 0.430 218.815 0.485
200809 0.420 218.783 0.474
200812 0.380 210.228 0.446
200903 0.400 212.709 0.464
200906 0.550 215.693 0.629
200909 0.490 215.969 0.560
200912 0.460 215.949 0.526
201003 0.480 217.631 0.544
201006 0.510 217.965 0.578
201009 0.450 218.439 0.508
201012 0.400 219.179 0.450
201103 0.350 223.467 0.387
201106 0.450 225.722 0.492
201109 0.160 226.889 0.174
201112 -0.590 225.672 -0.645
201203 0.190 229.392 0.204
201206 0.110 229.478 0.118
201209 -0.100 231.407 -0.107
201212 0.170 229.601 0.183
201303 0.310 232.773 0.329
201306 0.380 233.504 0.402
201309 1.250 234.149 1.318
201312 0.140 233.049 0.148
201403 0.290 236.293 0.303
201406 0.200 238.343 0.207
201409 0.300 238.031 0.311
201412 -0.100 234.812 -0.105
201503 -0.040 236.119 -0.042
201506 0.340 238.638 0.352
201509 0.210 237.945 0.218
201512 0.590 236.525 0.616
201603 0.230 238.132 0.238
201606 0.400 241.018 0.410
201609 0.260 241.428 0.266
201612 0.240 241.432 0.245
201703 0.280 243.801 0.283
201706 0.430 244.955 0.433
201709 0.240 246.819 0.240

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.

Getty Realty Corp's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=28.30/1.33
=21.28

* 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 Getty Realty Corp was 26.30. The lowest was 7.75. And the median was 12.41.


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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