GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Keyence Corp (OTCPK:KYCCF) » Definitions » E10

Keyence (Keyence) E10 : $6.75 (As of Dec. 2023)


View and export this data going back to 2010. Start your Free Trial

What is Keyence 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.

Keyence's adjusted earnings per share data for the three months ended in Dec. 2023 was $2.502. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $6.75 for the trailing ten years ended in Dec. 2023.

During the past 12 months, Keyence's average E10 Growth Rate was -100.00% 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.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Keyence was 15.90% per year. The lowest was -1.40% per year. And the median was 13.90% per year.

As of today (2024-04-30), Keyence's current stock price is $446.00. Keyence's E10 for the quarter that ended in Dec. 2023 was $6.75. Keyence's Shiller PE Ratio of today is 66.07.

During the past 13 years, the highest Shiller PE Ratio of Keyence was 118.30. The lowest was 45.43. And the median was 71.65.


Keyence E10 Historical Data

The historical data trend for Keyence'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.

Keyence E10 Chart

Keyence Annual Data
Trend Mar12 Mar14 Mar15 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.15 5.62 5.85 6.52 -

Keyence Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 6.52 6.19 6.27 6.75 -

Competitive Comparison of Keyence's E10

For the Scientific & Technical Instruments subindustry, Keyence'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.


Keyence's Shiller PE Ratio Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Keyence's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Keyence's Shiller PE Ratio falls into.



Keyence 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, Keyence's adjusted earnings per share data for the three months ended in Dec. 2023 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=2.502/106.8000*106.8000
=2.502

Current CPI (Dec. 2023) = 106.8000.

Keyence Quarterly Data

per share eps CPI Adj_EPS
201403 0.929 95.700 1.037
201406 0.977 98.000 1.065
201409 1.216 98.500 1.318
201412 1.064 97.900 1.161
201503 1.178 97.900 1.285
201506 1.050 98.400 1.140
201509 1.218 98.500 1.321
201512 1.191 98.100 1.297
201603 1.278 97.900 1.394
201606 1.271 98.100 1.384
201609 1.515 98.000 1.651
201612 1.373 98.400 1.490
201703 1.630 98.100 1.775
201706 1.764 98.500 1.913
201709 1.977 98.800 2.137
201712 1.891 99.400 2.032
201803 2.264 99.200 2.437
201806 2.084 99.200 2.244
201809 2.137 99.900 2.285
201812 2.059 99.700 2.206
201903 2.092 99.700 2.241
201906 1.772 99.800 1.896
201909 1.999 100.100 2.133
201912 1.860 100.500 1.977
202003 1.927 100.300 2.052
202006 1.399 99.900 1.496
202009 1.867 99.900 1.996
202012 1.908 99.300 2.052
202103 2.463 99.900 2.633
202106 2.530 99.500 2.716
202109 2.778 100.100 2.964
202112 2.775 100.100 2.961
202203 2.954 101.100 3.121
202206 2.451 101.800 2.571
202209 2.907 103.100 3.011
202212 2.671 104.100 2.740
202303 2.929 104.400 2.996
202306 2.483 105.200 2.521
202309 2.619 106.200 2.634
202312 2.502 106.800 2.502

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


Keyence  (OTCPK:KYCCF) 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.

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

Shiller PE Ratio=Share Price/E10
=446.00/6.75
=66.07

* 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 Keyence was 118.30. The lowest was 45.43. And the median was 71.65.


Be Aware

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


Keyence E10 Related Terms

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


Keyence (Keyence) Business Description

Traded in Other Exchanges
Address
1-3-14, Higashi-nakajima, Higashi-Yodogawa, Osaka, JPN, 533-8555
Keyence develops and sells factory automation sensors, machine vision systems, barcode readers, programmable logic controllers, laser markers, measuring instruments, and digital microscopes. The company has a fabless business model where manufacturing of its products is outsourced to qualified contract manufacturing companies, while it focuses on product planning and development. It serves customers in automotive, metals/machining, semiconductor/electronics, food, pharmaceutical, and other industries. Keyence was founded in 1972 and is headquartered in Osaka, Japan.

Keyence (Keyence) Headlines

From GuruFocus

T. Rowe Price Japan Comments on Keyence

By Sydnee Gatewood 06-21-2021

First Eagle Comments on Keyence

By Sydnee Gatewood Sydnee Gatewood 04-21-2021

GAMCO Global Growth Fund Comments on KEYENCE Corp

By Holly LaFon Holly LaFon 02-22-2016

Hennessy Japan Fund's Top Five

By Monica Wolfe Monica Wolfe 01-03-2014

First Eagle Investment Comments on Keyence

By Holly LaFon Holly LaFon 09-09-2019