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Fidelity Bank (NSA:FBP) E10 : ₦1.83 (As of Sep. 2024)


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What is Fidelity Bank 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.

Fidelity Bank's adjusted earnings per share data for the three months ended in Sep. 2024 was ₦2.024. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ₦1.83 for the trailing ten years ended in Sep. 2024.

During the past 12 months, Fidelity Bank's average E10 Growth Rate was 56.40% 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.

As of today (2025-03-19), Fidelity Bank's current stock price is ₦16.80. Fidelity Bank's E10 for the quarter that ended in Sep. 2024 was ₦1.83. Fidelity Bank's Shiller PE Ratio of today is 9.18.

During the past 13 years, the highest Shiller PE Ratio of Fidelity Bank was 11.46. The lowest was 2.86. And the median was 5.91.


Fidelity Bank E10 Historical Data

The historical data trend for Fidelity Bank'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.

Fidelity Bank E10 Chart

Fidelity Bank Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - 0.80 0.90 1.20

Fidelity Bank Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 1.17 1.20 1.25 1.64 1.83

Competitive Comparison of Fidelity Bank's E10

For the Banks - Regional subindustry, Fidelity Bank'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.


Fidelity Bank's Shiller PE Ratio Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Fidelity Bank's Shiller PE Ratio distribution charts can be found below:

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



Fidelity Bank 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, Fidelity Bank's adjusted earnings per share data for the three months ended in Sep. 2024 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2024 (Change)*Current CPI (Sep. 2024)
=2.024/133.0289*133.0289
=2.024

Current CPI (Sep. 2024) = 133.0289.

Fidelity Bank Quarterly Data

per share eps CPI Adj_EPS
201412 0.085 99.070 0.114
201503 0.533 99.621 0.712
201506 0.141 100.684 0.186
201509 0.108 100.392 0.143
201512 0.087 99.792 0.116
201603 0.116 100.470 0.154
201606 0.068 101.688 0.089
201609 0.110 101.861 0.144
201612 0.033 101.863 0.043
201703 0.145 102.862 0.188
201706 0.155 103.349 0.200
201709 0.174 104.136 0.222
201712 0.110 104.011 0.141
201803 0.155 105.290 0.196
201806 0.242 106.317 0.303
201809 0.213 106.507 0.266
201812 0.165 105.998 0.207
201903 0.203 107.251 0.252
201906 0.077 108.070 0.095
201909 0.349 108.329 0.429
201912 0.310 108.420 0.380
202003 0.194 108.902 0.237
202006 0.184 108.767 0.225
202009 0.300 109.815 0.363
202012 0.213 109.897 0.258
202103 0.320 111.754 0.381
202106 0.325 114.631 0.377
202109 0.242 115.734 0.278
202112 -0.118 117.630 -0.133
202203 0.320 121.301 0.351
202206 0.460 125.017 0.489
202209 0.387 125.227 0.411
202212 0.390 125.222 0.414
202303 0.488 127.348 0.510
202306 1.450 128.729 1.498
202309 0.901 129.860 0.923
202312 0.142 129.419 0.146
202403 0.983 131.776 0.992
202406 4.012 132.554 4.026
202409 2.024 133.029 2.024

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


Fidelity Bank  (NSA:FBP) 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.

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

Shiller PE Ratio=Share Price/E10
=16.80/1.83
=9.18

* 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 Fidelity Bank was 11.46. The lowest was 2.86. And the median was 5.91.


Be Aware

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


Fidelity Bank E10 Related Terms

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


Fidelity Bank Business Description

Traded in Other Exchanges
N/A
Address
1 Fidelity Bank Close Off Kofo Abayomi Street, Fidelity Place, Victoria Island, Lagos, NGA
Fidelity Bank PLC offers banking and other financial services to corporate and individual customers. It operates through segments including Retail banking that offers retail, personal and commercial services to individuals, small and medium business customers and E-Business products to serve retail banking. Its Corporate Banking segment offers commercial and corporate banking services to corporate business customers, it covers the Power and Infrastructure, Oil and Gas Upstream and downstream, Real Estate, Agro-Allied, and other industries. Investment banking segment is involved in the funding and management of the bank's securities, trading, and investment decisions.