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First Bancshares E10

: $1.52 (As of Jun. 2020)
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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.

First Bancshares's adjusted earnings per share data for the three months ended in Jun. 2020 was $0.790. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.52 for the trailing ten years ended in Jun. 2020.

As of today (2020-10-27), First Bancshares's current stock price is $24.37. First Bancshares's E10 for the quarter that ended in Jun. 2020 was $1.52. First Bancshares's Shiller PE Ratio of today is 16.03.

During the past 13 years, the highest Shiller PE Ratio of First Bancshares was 35.78. The lowest was 10.25. And the median was 15.91.


First Bancshares 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.

First Bancshares Annual Data
Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.07 1.11 1.10 1.20 1.43

First Bancshares Quarterly Data
Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20
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 1.33 1.38 1.43 1.45 1.52

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.


First Bancshares E10 Distribution

* The bar in red indicates where First Bancshares's E10 falls into.



First Bancshares 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, First Bancshares's adjusted earnings per share data for the three months ended in Jun. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2020 (Change)*Current CPI (Jun. 2020)
=0.79/109.3175*109.3175
=0.790

Current CPI (Jun. 2020) = 109.3175.

First Bancshares Quarterly Data

per share eps CPI Adj_EPS
201009 0.180 92.277 0.213
201012 0.220 92.914 0.259
201103 0.140 94.890 0.161
201106 0.190 95.319 0.218
201109 0.210 95.529 0.240
201112 0.280 95.632 0.320
201203 0.280 97.075 0.315
201206 0.300 96.661 0.339
201209 0.240 97.595 0.269
201212 0.340 97.158 0.383
201303 0.350 98.107 0.390
201306 0.180 98.557 0.200
201309 0.190 98.536 0.211
201312 0.270 98.692 0.299
201403 0.250 100.023 0.273
201406 0.290 100.520 0.315
201409 0.270 100.176 0.295
201412 0.360 98.604 0.399
201503 0.360 99.824 0.394
201506 0.390 100.691 0.423
201509 0.390 100.346 0.425
201512 0.420 99.957 0.459
201603 0.460 100.947 0.498
201606 0.470 101.524 0.506
201609 0.450 101.988 0.482
201612 0.260 102.456 0.277
201703 0.120 103.167 0.127
201706 0.260 103.278 0.275
201709 0.510 104.070 0.536
201712 0.230 104.578 0.240
201803 0.340 105.708 0.352
201806 0.400 106.324 0.411
201809 0.390 106.695 0.400
201812 0.480 106.200 0.494
201903 0.480 107.818 0.487
201906 0.690 108.250 0.697
201909 0.710 108.577 0.715
201912 0.640 108.841 0.643
202003 0.440 108.173 0.445
202006 0.790 109.318 0.790

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


First Bancshares  (NAS:FBMS) 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.

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

Shiller PE Ratio=Share Price/E10
=24.37/1.52
=16.03

* 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 First Bancshares was 35.78. The lowest was 10.25. And the median was 15.91.


Be Aware

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


First Bancshares E10 Related Terms


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