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McGrath RentCorp E10

: $2.55 (As of Jun. 2019)
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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.

McGrath RentCorp's adjusted earnings per share data for the three months ended in Jun. 2019 was $0.790. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.55 for the trailing ten years ended in Jun. 2019.

As of today (2019-10-22), McGrath RentCorp's current stock price is $67.59. McGrath RentCorp's E10 for the quarter that ended in Jun. 2019 was $2.55. McGrath RentCorp's Shiller PE Ratio of today is 26.51.

During the past 13 years, the highest Shiller PE Ratio of McGrath RentCorp was 28.73. The lowest was 9.86. And the median was 18.24.


McGrath RentCorp 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.

McGrath RentCorp Annual Data
Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.81 1.79 1.79 2.26 2.42

McGrath RentCorp Quarterly Data
Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19
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 2.33 2.40 2.42 2.48 2.55

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.


McGrath RentCorp E10 Distribution

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



McGrath RentCorp 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.

For example, McGrath RentCorp's adjusted earnings per share data for the three months ended in Jun. 2019 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2019 (Change)*Current CPI (Jun. 2019)
=0.79/256.143*256.143
=0.790

Current CPI (Jun. 2019) = 256.143.

McGrath RentCorp Quarterly Data

per share eps CPI Adj_EPS
200909 0.400 215.969 0.474
200912 0.370 215.949 0.439
201003 0.280 217.631 0.330
201006 0.310 217.965 0.364
201009 0.400 218.439 0.469
201012 0.520 219.179 0.608
201103 0.390 223.467 0.447
201106 0.460 225.722 0.522
201109 0.620 226.889 0.700
201112 0.530 225.672 0.602
201203 0.390 229.392 0.435
201206 0.420 229.478 0.469
201209 0.500 231.407 0.553
201212 0.470 229.601 0.524
201303 0.360 232.773 0.396
201306 0.380 233.504 0.417
201309 0.480 234.149 0.525
201312 0.450 233.049 0.495
201403 0.300 236.293 0.325
201406 0.390 238.343 0.419
201409 0.530 238.031 0.570
201412 0.530 234.812 0.578
201503 0.260 236.119 0.282
201506 0.320 238.638 0.343
201509 0.540 237.945 0.581
201512 0.480 236.525 0.520
201603 0.270 238.132 0.290
201606 0.380 241.018 0.404
201609 0.540 241.428 0.573
201612 0.400 241.432 0.424
201703 0.330 243.801 0.347
201706 0.480 244.955 0.502
201709 0.690 246.819 0.716
201712 4.820 246.524 5.008
201803 0.590 249.554 0.606
201806 0.650 251.989 0.661
201809 1.010 252.439 1.025
201812 0.990 251.233 1.009
201903 0.750 254.202 0.756
201906 0.790 256.143 0.790

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


McGrath RentCorp  (NAS:MGRC) 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.

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

Shiller PE Ratio=Share Price/E10
=67.59/2.55
=26.51

* 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 McGrath RentCorp was 28.73. The lowest was 9.86. And the median was 18.24.


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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