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Activision Blizzard E10

: $1.97 (As of Jun. 2022)
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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.

Activision Blizzard's adjusted earnings per share data for the three months ended in Jun. 2022 was $0.360. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.97 for the trailing ten years ended in Jun. 2022.

As of today (2022-09-25), Activision Blizzard's current stock price is $74.95. Activision Blizzard's E10 for the quarter that ended in Jun. 2022 was $1.97. Activision Blizzard's Shiller PE Ratio of today is 38.05.

During the past 13 years, the highest Shiller PE Ratio of Activision Blizzard was 94.24. The lowest was 30.17. And the median was 46.26.


Activision Blizzard E10 Historical Data

The historical data trend for Activision Blizzard'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.

Activision Blizzard Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
E10
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.77 1.02 1.22 1.49 1.83

Activision Blizzard Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
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 1.66 1.74 1.83 1.90 1.97

Competitive Comparison

For the Electronic Gaming & Multimedia subindustry, Activision Blizzard's E10, along with its competitors' market caps and E10 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.

   

Activision Blizzard E10 Distribution

For the Interactive Media industry and Communication Services sector, Activision Blizzard's E10 distribution charts can be found below:

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



Activision Blizzard 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, Activision Blizzard's adjusted earnings per share data for the three months ended in Jun. 2022 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2022 (Change)*Current CPI (Jun. 2022)
=0.36/125.0168*125.0168
=0.360

Current CPI (Jun. 2022) = 125.0168.

Activision Blizzard Quarterly Data

per share eps CPI Adj_EPS
201209 0.200 97.633 0.256
201212 0.310 96.871 0.400
201303 0.400 98.209 0.509
201306 0.280 98.518 0.355
201309 0.050 98.790 0.063
201312 0.220 98.326 0.280
201403 0.400 99.695 0.502
201406 0.280 100.560 0.348
201409 -0.030 100.428 -0.037
201412 0.490 99.070 0.618
201503 0.530 99.621 0.665
201506 0.290 100.684 0.360
201509 0.170 100.392 0.212
201512 0.210 99.792 0.263
201603 0.480 100.470 0.597
201606 0.200 101.688 0.246
201609 0.260 101.861 0.319
201612 0.330 101.863 0.405
201703 0.560 102.862 0.681
201706 0.320 103.349 0.387
201709 0.250 104.136 0.300
201712 -0.770 104.011 -0.926
201803 0.650 105.290 0.772
201806 0.520 106.317 0.611
201809 0.340 106.507 0.399
201812 0.840 105.998 0.991
201903 0.580 107.251 0.676
201906 0.430 108.070 0.497
201909 0.260 108.329 0.300
201912 0.680 108.420 0.784
202003 0.650 108.902 0.746
202006 0.750 108.767 0.862
202009 0.780 109.815 0.888
202012 0.650 109.897 0.739
202103 0.790 111.754 0.884
202106 1.120 114.631 1.221
202109 0.820 115.734 0.886
202112 0.720 117.630 0.765
202203 0.500 121.301 0.515
202206 0.360 125.017 0.360

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


Activision Blizzard  (NAS:ATVI) 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.

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

Shiller PE Ratio=Share Price/E10
=74.95/1.97
=38.05

* 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 Activision Blizzard was 94.24. The lowest was 30.17. And the median was 46.26.


Be Aware

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


Activision Blizzard E10 Related Terms

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


Activision Blizzard Business Description

Activision Blizzard logo
Address
2701 Olympic Boulevard, Building B, Santa Monica, CA, USA, 90404
Activision Blizzard was formed in 2008 by the merger of Activision, one of the largest console video game publishers, and Blizzard, one of largest PC video game publishers. The combined firm remains one of the world's largest video game publishers. Activision's impressive franchise portfolio includes World of Warcraft, which boasts more than $8 billion of lifetime sales, and Call of Duty, which has sold over 175 million copies across 14 titles over 12 years.
Executives
Meservey Lulu Cheng director 2701 OLYMPIC BOULEVARD BUILDING B SANTA MONICA CA 90404
Bulatao Brian officer: Chief Administrative Officer C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Dixton Grant Michael officer: Chief Legal Officer C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Zerza Armin officer: Chief Financial Officer C/O ACTIVISION BLIZZARD, INC 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Macartney Claudine officer: Chief People Officer AMERICAN INTERNATIONAL GROUP, INC. 175 WATER ST. NEW YORK NY 10038
Ostroff Dawn director 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 91405
Yang Jesse officer: Chief Accounting Officer C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Alegre Daniel officer: President and COO 9800 59TH AVENUE NORTH MINNEAPOLIS MN 55317
Wereb Stephen G officer: Principal Accounting Officer C/O ACTIVISION, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Walther Christopher B officer: Chief Legal Officer C/O ACTIVISION BLIZZARD 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Bowers Reveta F director C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Johnson Collister officer: President and COO C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Neumann Spencer Adam officer: Chief Financial Officer SIERRA INCOME CORPORATION 375 PARK AVE., SUITE 3304 NEW YORK NY 10152
Asac Ii Lp 10 percent owner C/O CHADWICK & COMPANY 225 HIGHWAY 35, SUITE 102C RED BANK NJ 07701
Asac Ii Llc 10 percent owner C/O CHADWICK & COMPANY 225 HIGHWAY 35, SUITE 102C RED BANK NJ 07701

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