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American Financial Group E10

: $5.84 (As of Sep. 2019)
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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.

American Financial Group's adjusted earnings per share data for the three months ended in Sep. 2019 was $1.620. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $5.84 for the trailing ten years ended in Sep. 2019.

As of today (2019-11-15), American Financial Group's current stock price is $108.53. American Financial Group's E10 for the quarter that ended in Sep. 2019 was $5.84. American Financial Group's Shiller PE Ratio of today is 18.58.

During the past 13 years, the highest Shiller PE Ratio of American Financial Group was 23.89. The lowest was 6.66. And the median was 14.49.


American Financial Group 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.

American Financial Group Annual Data
Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.02 4.23 4.60 4.86 5.34

American Financial Group Quarterly Data
Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19
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 5.46 5.34 5.65 5.81 5.84

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.


American Financial Group E10 Distribution

* The bar in red indicates where American Financial Group's E10 falls into.



American Financial Group 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.

For example, American Financial Group's adjusted earnings per share data for the three months ended in Sep. 2019 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2019 (Change)*Current CPI (Sep. 2019)
=1.62/256.358*256.358
=1.620

Current CPI (Sep. 2019) = 256.358.

American Financial Group Quarterly Data

per share eps CPI Adj_EPS
200912 1.380 215.949 1.638
201003 0.930 217.631 1.095
201006 0.970 217.965 1.141
201009 1.210 218.439 1.420
201012 1.250 219.179 1.462
201103 0.830 223.467 0.952
201106 0.460 225.722 0.522
201109 0.950 226.889 1.073
201112 1.090 225.672 1.238
201203 1.140 229.392 1.274
201206 1.010 229.478 1.128
201209 2.390 231.407 2.648
201212 0.540 229.601 0.603
201303 1.320 232.773 1.454
201306 1.200 233.504 1.317
201309 0.920 234.149 1.007
201312 1.730 233.049 1.903
201403 1.130 236.293 1.226
201406 1.150 238.343 1.237
201409 1.280 238.031 1.379
201412 1.410 234.812 1.539
201503 0.210 236.119 0.228
201506 1.570 238.638 1.687
201509 0.710 237.945 0.765
201512 1.450 236.525 1.572
201603 1.140 238.132 1.227
201606 0.620 241.018 0.659
201609 1.230 241.428 1.306
201612 4.350 241.432 4.619
201703 1.720 243.801 1.809
201706 1.610 244.955 1.685
201709 0.130 246.819 0.135
201712 1.840 246.524 1.913
201803 1.600 249.554 1.644
201806 2.310 251.989 2.350
201809 2.260 252.439 2.295
201812 -0.330 251.233 -0.337
201903 3.630 254.202 3.661
201906 2.310 256.143 2.312
201909 1.620 256.358 1.620

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


American Financial Group  (NYSE:AFG) 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.

American Financial Group's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=108.53/5.84
=18.58

* 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 American Financial Group was 23.89. The lowest was 6.66. And the median was 14.49.


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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