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Nordstrom E10

: $2.97 (As of Apr. 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.

Nordstrom's adjusted earnings per share data for the three months ended in Apr. 2020 was $-3.330. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.97 for the trailing ten years ended in Apr. 2020.

As of today (2020-08-07), Nordstrom's current stock price is $15.28. Nordstrom's E10 for the quarter that ended in Apr. 2020 was $2.97. Nordstrom's Shiller PE Ratio of today is 5.14.

During the past 13 years, the highest Shiller PE Ratio of Nordstrom was 28.33. The lowest was 4.39. And the median was 21.34.


Nordstrom 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.

Nordstrom Annual Data
Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 Jan20
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.10 3.09 3.07 3.24 3.39

Nordstrom Quarterly Data
Jul15 Oct15 Jan16 Apr16 Jul16 Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20
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 3.26 3.30 3.34 3.39 2.97

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.


Nordstrom E10 Distribution

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



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

Adj_EPS= Earnings per Share (Diluted) /CPI of Apr. 2020 (Change)*Current CPI (Apr. 2020)
=-3.33/108.1754*108.1754
=-3.330

Current CPI (Apr. 2020) = 108.1754.

Nordstrom Quarterly Data

per share eps CPI Adj_EPS
201007 0.660 92.108 0.775
201010 0.530 92.315 0.621
201101 1.040 93.373 1.205
201104 0.650 95.337 0.738
201107 0.800 95.582 0.905
201110 0.590 95.449 0.669
201201 1.110 96.053 1.250
201204 0.700 96.961 0.781
201207 0.750 97.199 0.835
201210 0.710 97.133 0.791
201301 1.400 97.953 1.546
201304 0.730 98.282 0.803
201307 0.930 98.675 1.020
201310 0.690 98.334 0.759
201401 1.370 99.057 1.496
201404 0.720 100.373 0.776
201407 0.950 100.352 1.024
201410 0.730 99.635 0.793
201501 1.320 99.032 1.442
201504 0.660 100.333 0.712
201507 1.090 100.548 1.173
201510 0.420 100.135 0.454
201601 1.000 100.040 1.081
201604 0.260 101.355 0.277
201607 0.670 101.617 0.713
201610 -0.060 101.829 -0.064
201701 1.150 102.779 1.210
201704 0.370 103.256 0.388
201707 0.650 103.587 0.679
201710 0.670 104.072 0.696
201801 0.890 105.052 0.916
201804 0.510 106.148 0.520
201807 0.950 106.383 0.966
201810 0.390 106.338 0.397
201901 1.480 106.649 1.501
201904 0.230 108.048 0.230
201907 0.900 108.245 0.899
201910 0.810 108.519 0.807
202001 1.230 109.139 1.219
202004 -3.330 108.175 -3.330

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


Nordstrom  (NYSE:JWN) 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.

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

Shiller PE Ratio=Share Price/E10
=15.28/2.97
=5.14

* 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 Nordstrom was 28.33. The lowest was 4.39. And the median was 21.34.


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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