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MSCI (MSCI) E10 : $8.49 (As of Dec. 2024)


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What is MSCI 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.

MSCI's adjusted earnings per share data for the three months ended in Dec. 2024 was $3.900. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $8.49 for the trailing ten years ended in Dec. 2024.

During the past 12 months, MSCI's average E10 Growth Rate was 18.10% per year. During the past 3 years, the average E10 Growth Rate was 22.60% per year. During the past 5 years, the average E10 Growth Rate was 23.90% per year. During the past 10 years, the average E10 Growth Rate was 21.70% 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 MSCI was 25.60% per year. The lowest was 11.40% per year. And the median was 23.70% per year.

As of today (2025-03-13), MSCI's current stock price is $543.01. MSCI's E10 for the quarter that ended in Dec. 2024 was $8.49. MSCI's Shiller PE Ratio of today is 63.96.

During the past 13 years, the highest Shiller PE Ratio of MSCI was 159.37. The lowest was 40.67. And the median was 77.91.


MSCI E10 Historical Data

The historical data trend for MSCI'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.

MSCI E10 Chart

MSCI Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.63 4.61 5.79 7.19 8.49

MSCI Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 7.19 7.56 7.82 8.15 8.49

Competitive Comparison of MSCI's E10

For the Financial Data & Stock Exchanges subindustry, MSCI'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.


MSCI's Shiller PE Ratio Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, MSCI's Shiller PE Ratio distribution charts can be found below:

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



MSCI 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, MSCI's adjusted earnings per share data for the three months ended in Dec. 2024 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2024 (Change)*Current CPI (Dec. 2024)
=3.9/133.1571*133.1571
=3.900

Current CPI (Dec. 2024) = 133.1571.

MSCI Quarterly Data

per share eps CPI Adj_EPS
201503 0.390 99.621 0.521
201506 0.500 100.684 0.661
201509 0.590 100.392 0.783
201512 0.570 99.792 0.761
201603 0.600 100.470 0.795
201606 0.690 101.688 0.904
201609 0.680 101.861 0.889
201612 0.730 101.863 0.954
201703 0.800 102.862 1.036
201706 0.890 103.349 1.147
201709 0.930 104.136 1.189
201712 0.700 104.011 0.896
201803 1.240 105.290 1.568
201806 1.280 106.317 1.603
201809 1.360 106.507 1.700
201812 1.700 105.998 2.136
201903 2.080 107.251 2.582
201906 1.470 108.070 1.811
201909 1.600 108.329 1.967
201912 1.440 108.420 1.769
202003 1.730 108.902 2.115
202006 1.360 108.767 1.665
202009 2.160 109.815 2.619
202012 1.870 109.897 2.266
202103 2.360 111.754 2.812
202106 1.990 114.631 2.312
202109 2.030 115.734 2.336
202112 2.320 117.630 2.626
202203 2.780 121.301 3.052
202206 2.590 125.017 2.759
202209 2.680 125.227 2.850
202212 2.670 125.222 2.839
202303 2.970 127.348 3.105
202306 3.090 128.729 3.196
202309 3.270 129.860 3.353
202312 5.070 129.419 5.216
202403 3.220 131.776 3.254
202406 3.370 132.554 3.385
202409 3.570 133.029 3.573
202412 3.900 133.157 3.900

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


MSCI  (NYSE:MSCI) 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.

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

Shiller PE Ratio=Share Price/E10
=543.01/8.49
=63.96

* 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 MSCI was 159.37. The lowest was 40.67. And the median was 77.91.


Be Aware

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


MSCI E10 Related Terms

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


MSCI Business Description

Traded in Other Exchanges
Address
250 Greenwich Street, 49th Floor, 7 World Trade Center, New York, NY, USA, 10007
MSCI has described its mission as enabling investors to build better portfolios for a better world. MSCI's largest and most profitable segment is its index segment, where it provides benchmarking to asset managers and asset owners. In addition, it boasts over $1.4 trillion in ETF assets linked to MSCI indexes. The MSCI analytics segment provides portfolio management and risk management analytics software to asset managers and asset owners. MSCI's all other segment was broken out into ESG and climate and private assets segments in 2021. In ESG and climate, MSCI provides ESG data to the investment industry. In private assets, MSCI provides real restate reporting, market data, benchmarking, and analytics to investors and real estate managers.
Executives
Henry A Fernandez director, officer: Chairman, CEO and President MSCI INC., 88 PINE STREET, NEW YORK NY 10005
Robert J. Gutowski officer: General Counsel C/O MSCI INC., 7 WORLD TRADE CENTER, 49TH FLOOR, NEW YORK NY 10007
Scott A Crum officer: Chief Human Resources Officer C/O MSCI INC., 7 WORLD TRADE CENTER, 250 GREENWICH STREET, 49TH FL., NEW YORK NY 10007
Cd Baer Pettit officer: Head of Client Coverage MSCI INC., 88 PINE STREET, NEW YORK NY 10005
Catherine R Kinney director C/O QTS REALTY TRUST INC., 12851 FOSTER STREET, OVERLAND PARK KS 66213
Andrew C. Wiechmann officer: Interim CFO and Treasurer 7 WORLD TRADE CENTER, 250 GREENWICH STREET, 49TH FLOOR, NEW YORK NY 10007
Robin Matlock director C/O IRON MOUNTAIN INCORPORATED, ONE FEDERAL STREET, BOSTON MA 02110
Jennifer H Mak officer: Principal Accounting Officer 115 TABOR ROAD, MORRIS PLAINS NJ 07950
Rajat Taneja director C/O ELECTRONIC ARTS INC., 209 REDWOOD SHORES PARKWAY, LEGAL DEPT., REDWOOD CITY CA 94065
Paula Volent director MSCI INC., 7 WORLD TRADE CENTER, 49TH FLOOR, NEW YORK NY 10007
Sandy C. Rattray director MSCI INC., 7 WORLD TRADE CENTER, 49TH FLOOR, NEW YORK NY 10007
Laurent Seyer officer: Global Head of Client Cvrg 7 WORLD TRADE CENTER, 250 GREENWICH STREET, 49TH FLOOR, NEW YORK NY 10007
Benjamin F Dupont director C/O MSCI INC., 88 PINE STREET, NEW YORK NY 10005
Linda Huber officer: CFO and Treasurer FACTSET RESEARCH SYSTEMS INC., 45 GLOVER AVENUE, NORWALK CT 06850
Jigar Thakkar officer: Chief Technology Officer C/O MSCI INC., 7 WORLD TRADE CENTER, 49TH FLOOR, NEW YORK NY 10007