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Mantech International Corp  (NAS:MANT) E10: \$2.32 (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.

Mantech International Corp's adjusted earnings per share data for the three months ended in Sep. 2017 was \$0.390. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is \$2.32 for the trailing ten years ended in Sep. 2017.

As of today, Mantech International Corp's current stock price is \$48.47. Mantech International Corp's E10 for the quarter that ended in Sep. 2017 was \$2.32. Mantech International Corp's Shiller PE Ratio of today is 20.89.

During the past 13 years, the highest Shiller PE Ratio of Mantech International Corp was 24.87. The lowest was 9.06. And the median was 13.28.

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.

Mantech International Corp Annual Data

 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 E10 2.36 2.24 2.28 2.27 2.29

Mantech International Corp Quarterly Data

 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 E10 2.30 2.29 2.30 2.32 2.32

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, Mantech International 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) = 0.39 / 246.819 * 246.819 = 0.390

Current CPI (Sep. 2017) = 246.819.

Mantech International Corp Quarterly Data

 per share eps CPI Adj_EPS 200712 0.620 210.036 0.729 200803 0.570 213.528 0.659 200806 0.620 218.815 0.699 200809 0.670 218.783 0.756 200812 0.690 210.228 0.810 200903 0.680 212.709 0.789 200906 0.800 215.693 0.915 200909 0.810 215.969 0.926 200912 0.820 215.949 0.937 201003 0.760 217.631 0.862 201006 0.880 217.965 0.996 201009 0.860 218.439 0.972 201012 0.930 219.179 1.047 201103 0.870 223.467 0.961 201106 0.990 225.722 1.083 201109 0.940 226.889 1.023 201112 0.830 225.672 0.908 201203 0.690 229.392 0.742 201206 0.670 229.478 0.721 201209 0.660 231.407 0.704 201212 0.540 229.601 0.580 201303 0.540 232.773 0.573 201306 0.580 233.504 0.613 201309 0.480 234.149 0.506 201312 -1.770 233.049 -1.875 201403 0.260 236.293 0.272 201406 0.210 238.343 0.217 201409 0.410 238.031 0.425 201412 0.390 234.812 0.410 201503 0.310 236.119 0.324 201506 0.331 238.638 0.342 201509 0.350 237.945 0.363 201512 0.370 236.525 0.386 201603 0.350 238.132 0.363 201606 0.390 241.018 0.399 201609 0.380 241.428 0.388 201612 0.350 241.432 0.358 201703 0.390 243.801 0.395 201706 0.400 244.955 0.403 201709 0.390 246.819 0.390

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.

Mantech International Corp's Shiller P/E Ratio of today is calculated as

 Shiller PE Ratio = Share Price / E10 = 48.47 / 2.32 = 20.89

* 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 Mantech International Corp was 24.87. The lowest was 9.06. And the median was 13.28.

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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