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NetApp E10

: $2.05 (As of Jul. 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.

NetApp's adjusted earnings per share data for the three months ended in Jul. 2020 was $0.350. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.05 for the trailing ten years ended in Jul. 2020.

As of today (2020-10-27), NetApp's current stock price is $44.65. NetApp's E10 for the quarter that ended in Jul. 2020 was $2.05. NetApp's Shiller PE Ratio of today is 21.78.

During the past 13 years, the highest Shiller PE Ratio of NetApp was 86.57. The lowest was 16.80. And the median was 35.23.


NetApp 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.

NetApp Annual Data
Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 Apr20
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.28 1.39 1.36 1.81 2.04

NetApp Quarterly Data
Oct15 Jan16 Apr16 Jul16 Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20
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 1.84 1.92 2.01 2.04 2.05

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.


NetApp E10 Distribution

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



NetApp 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, NetApp's adjusted earnings per share data for the three months ended in Jul. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jul. 2020 (Change)*Current CPI (Jul. 2020)
=0.35/109.6622*109.6622
=0.350

Current CPI (Jul. 2020) = 109.6622.

NetApp Quarterly Data

per share eps CPI Adj_EPS
201010 0.450 92.315 0.535
201101 0.460 93.373 0.540
201104 0.400 95.337 0.460
201107 0.340 95.582 0.390
201110 0.440 95.449 0.506
201201 0.320 96.053 0.365
201204 0.470 96.961 0.532
201207 0.170 97.199 0.192
201210 0.300 97.133 0.339
201301 0.430 97.953 0.481
201304 0.470 98.282 0.524
201307 0.230 98.675 0.256
201310 0.480 98.334 0.535
201401 0.550 99.057 0.609
201404 0.590 100.373 0.645
201407 0.270 100.352 0.295
201410 0.490 99.635 0.539
201501 0.560 99.032 0.620
201504 0.430 100.333 0.470
201507 -0.100 100.548 -0.109
201510 0.390 100.135 0.427
201601 0.520 100.040 0.570
201604 -0.030 101.355 -0.032
201607 0.230 101.617 0.248
201610 0.380 101.829 0.409
201701 0.520 102.779 0.555
201704 0.680 103.256 0.722
201707 0.470 103.587 0.498
201710 0.630 104.072 0.664
201801 -1.790 105.052 -1.869
201804 0.990 106.148 1.023
201807 1.050 106.383 1.082
201810 0.910 106.338 0.938
201901 0.980 106.649 1.008
201904 1.590 108.048 1.614
201907 0.420 108.245 0.426
201910 1.030 108.519 1.041
202001 1.210 109.139 1.216
202004 0.880 108.175 0.892
202007 0.350 109.662 0.350

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


NetApp  (NAS:NTAP) 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.

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

Shiller PE Ratio=Share Price/E10
=44.65/2.05
=21.78

* 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 NetApp was 86.57. The lowest was 16.80. And the median was 35.23.


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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