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United Bank for Africa (NSA:UBA) E10 : ₦5.98 (As of Sep. 2024)


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What is United Bank for Africa 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.

United Bank for Africa's adjusted earnings per share data for the three months ended in Sep. 2024 was ₦5.780. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ₦5.98 for the trailing ten years ended in Sep. 2024.

During the past 12 months, United Bank for Africa's average E10 Growth Rate was 46.90% 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 (2025-03-16), United Bank for Africa's current stock price is ₦36.60. United Bank for Africa's E10 for the quarter that ended in Sep. 2024 was ₦5.98. United Bank for Africa's Shiller PE Ratio of today is 6.12.

During the past 13 years, the highest Shiller PE Ratio of United Bank for Africa was 6.86. The lowest was 2.48. And the median was 3.67.


United Bank for Africa E10 Historical Data

The historical data trend for United Bank for Africa'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.

United Bank for Africa E10 Chart

United Bank for Africa 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 - - 2.33 2.87 4.52

United Bank for Africa 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 4.07 4.52 4.78 5.42 5.98

Competitive Comparison of United Bank for Africa's E10

For the Banks - Diversified subindustry, United Bank for Africa'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.


United Bank for Africa's Shiller PE Ratio Distribution in the Banks Industry

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

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



United Bank for Africa 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, United Bank for Africa'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)
=5.78/133.0289*133.0289
=5.780

Current CPI (Sep. 2024) = 133.0289.

United Bank for Africa Quarterly Data

per share eps CPI Adj_EPS
201412 0.480 99.070 0.645
201503 2.170 99.621 2.898
201506 -1.230 100.684 -1.625
201509 0.490 100.392 0.649
201512 0.360 99.792 0.480
201603 0.490 100.470 0.649
201606 0.290 101.688 0.379
201609 0.640 101.861 0.836
201612 0.620 101.863 0.810
201703 0.630 102.862 0.815
201706 0.580 103.349 0.747
201709 0.530 104.136 0.677
201712 0.450 104.011 0.576
201803 0.670 105.290 0.847
201806 0.560 106.317 0.701
201809 0.500 106.507 0.625
201812 0.480 105.998 0.602
201903 0.820 107.251 1.017
201906 0.800 108.070 0.985
201909 0.700 108.329 0.860
201912 0.200 108.420 0.245
202003 0.830 108.902 1.014
202006 0.410 108.767 0.501
202009 0.700 109.815 0.848
202012 0.938 109.897 1.135
202103 1.040 111.754 1.238
202106 0.650 114.631 0.754
202109 1.250 115.734 1.437
202112 0.448 117.630 0.507
202203 1.140 121.301 1.250
202206 0.840 125.017 0.894
202209 1.290 125.227 1.370
202212 1.565 125.222 1.663
202303 1.470 127.348 1.536
202306 9.480 128.729 9.797
202309 1.940 129.860 1.987
202312 4.560 129.419 4.687
202403 3.960 131.776 3.998
202406 4.940 132.554 4.958
202409 5.780 133.029 5.780

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


United Bank for Africa  (NSA:UBA) 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.

United Bank for Africa's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=36.60/5.98
=6.12

* 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 United Bank for Africa was 6.86. The lowest was 2.48. And the median was 3.67.


Be Aware

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


United Bank for Africa E10 Related Terms

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


United Bank for Africa Business Description

Traded in Other Exchanges
N/A
Address
57 Marina, UBA House, Lagos Island, Lagos, NGA
United Bank for Africa PLC is a financial services institution. It offers banking and other financial and pension fund custody services. The geographical segments of the company are Nigeria, the Rest of Africa and the Rest of the world. The business segments of the company are 1) Corporate Banking, which provides financial solutions to multinationals, regional companies, state-owned companies, non-governmental organizations, international and multinational organizations and financial institutions. 2) Retail/ Commercial banking segment products and services to the middle and retail segments of the market. 3) Treasury and Financial Markets segment provide financing and risk management solutions and advisory services to the company's corporate and institutional customers.

United Bank for Africa Headlines

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