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Unilever Nigeria (NSA:LEVBROS) E10 : ₦0.83 (As of Sep. 2024)


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What is Unilever Nigeria 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.

Unilever Nigeria's adjusted earnings per share data for the three months ended in Sep. 2024 was ₦1.144. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ₦0.83 for the trailing ten years ended in Sep. 2024.

During the past 12 months, Unilever Nigeria's average E10 Growth Rate was 36.10% 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 (2025-04-02), Unilever Nigeria's current stock price is ₦38.45. Unilever Nigeria's E10 for the quarter that ended in Sep. 2024 was ₦0.83. Unilever Nigeria's Shiller PE Ratio of today is 46.33.

During the past 13 years, the highest Shiller PE Ratio of Unilever Nigeria was 48.19. The lowest was 13.61. And the median was 20.37.


Unilever Nigeria E10 Historical Data

The historical data trend for Unilever Nigeria'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.

Unilever Nigeria E10 Chart

Unilever Nigeria 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 - - 0.89 0.70 0.71

Unilever Nigeria 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 0.61 0.71 0.74 0.73 0.83

Competitive Comparison of Unilever Nigeria's E10

For the Household & Personal Products subindustry, Unilever Nigeria'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.


Unilever Nigeria's Shiller PE Ratio Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Unilever Nigeria's Shiller PE Ratio distribution charts can be found below:

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


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Unilever Nigeria 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, Unilever Nigeria'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)
=1.144/133.0289*133.0289
=1.144

Current CPI (Sep. 2024) = 133.0289.

Unilever Nigeria Quarterly Data

per share eps CPI Adj_EPS
201409 0.086 100.428 0.114
201412 0.152 99.070 0.204
201503 0.152 99.621 0.203
201506 -0.124 100.684 -0.164
201509 0.010 100.392 0.013
201512 0.266 99.792 0.355
201603 0.266 100.470 0.352
201606 0.010 101.688 0.013
201609 0.095 101.861 0.124
201612 0.380 101.863 0.496
201706 0.490 103.349 0.631
201709 0.314 104.136 0.401
201712 0.562 104.011 0.719
201803 0.500 105.290 0.632
201806 0.490 106.317 0.613
201809 0.670 106.507 0.837
201812 0.180 105.998 0.226
201903 0.260 107.251 0.322
201906 0.350 108.070 0.431
201909 -0.520 108.329 -0.639
201912 -1.380 108.420 -1.693
202003 0.190 108.902 0.232
202006 -0.280 108.767 -0.342
202009 -0.290 109.815 -0.351
202012 -0.330 109.897 -0.399
202103 -0.090 111.754 -0.107
202106 0.210 114.631 0.244
202109 0.060 115.734 0.069
202112 0.400 117.630 0.452
202203 0.313 121.301 0.343
202206 0.019 125.017 0.020
202209 -0.393 125.227 -0.417
202212 0.840 125.222 0.892
202303 0.465 127.348 0.486
202306 0.016 128.729 0.017
202309 -0.190 129.860 -0.195
202312 1.179 129.419 1.212
202403 0.584 131.776 0.590
202406 0.188 132.554 0.189
202409 1.144 133.029 1.144

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


Unilever Nigeria  (NSA:LEVBROS) 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.

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

Shiller PE Ratio=Share Price/E10
=38.45/0.83
=46.33

* 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 Unilever Nigeria was 48.19. The lowest was 13.61. And the median was 20.37.


Be Aware

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


Unilever Nigeria E10 Related Terms

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


Unilever Nigeria Business Description

Traded in Other Exchanges
N/A
Address
1 Billings Way, Oregun, Ikeja, Lagos, NGA
Unilever Nigeria PLC is a Nigeria-based company principally engaged in the manufacturing and marketing of food products, and home care and personal care products. The company is segmented into Food Products (FP), Beauty & Wellbeing (B&W) and Personal Care (PC) and Home Care (HC). It derives maximum revenue from Food Products segment. The company sells its products in Nigeria, and internationally of which key revenue is derived from sales made in Nigeria.

Unilever Nigeria Headlines

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