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BCE E10

: $2.68 (As of Jun. 2021)
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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.

BCE's adjusted earnings per share data for the three months ended in Jun. 2021 was $0.622. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.68 for the trailing ten years ended in Jun. 2021.

As of today (2021-09-24), BCE's current stock price is $51.07. BCE's E10 for the quarter that ended in Jun. 2021 was $2.68. BCE's Shiller PE Ratio of today is 19.06.

During the past 13 years, the highest Shiller PE Ratio of BCE was 21.78. The lowest was 14.76. And the median was 18.02.


BCE E10 Historical Data

The historical data trend for BCE'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.

BCE Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
E10
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.28 2.27 2.28 2.52 2.56

BCE Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
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 2.35 2.40 2.56 2.62 2.68

Competitive Comparison

For the Telecom Services industry, BCE's E10, along with its competitors' market caps and E10 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.

   

BCE E10 Distribution

For the Telecom Services industry and Communication Services sector, BCE's E10 distribution charts can be found below:

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



BCE 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, BCE's adjusted earnings per share data for the three months ended in Jun. 2021 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2021 (Change)*Current CPI (Jun. 2021)
=0.622/111.7198*111.7198
=0.622

Current CPI (Jun. 2021) = 111.7198.

BCE Quarterly Data

per share eps CPI Adj_EPS
201109 0.828 95.286 0.971
201112 0.606 94.970 0.713
201203 0.694 96.155 0.806
201206 0.914 96.076 1.063
201209 0.695 96.392 0.806
201212 0.919 95.760 1.072
201303 0.713 97.103 0.820
201306 0.717 97.182 0.824
201309 0.425 97.419 0.487
201312 0.592 96.945 0.682
201403 0.711 98.604 0.806
201406 0.720 99.473 0.809
201409 0.699 99.394 0.786
201412 0.546 98.367 0.620
201503 0.499 99.789 0.559
201506 0.728 100.500 0.809
201509 0.656 100.421 0.730
201512 0.423 99.947 0.473
201603 0.620 101.054 0.685
201606 0.690 102.002 0.756
201609 0.664 101.765 0.729
201612 0.562 101.449 0.619
201703 0.545 102.634 0.593
201706 0.639 103.029 0.693
201709 0.733 103.345 0.792
201712 0.493 103.345 0.533
201803 0.564 105.004 0.600
201806 0.602 105.557 0.637
201809 0.691 105.636 0.731
201812 0.506 105.399 0.536
201903 0.613 106.979 0.640
201906 0.640 107.690 0.664
201909 0.725 107.611 0.753
201912 0.562 107.769 0.583
202003 0.537 107.927 0.556
202006 0.192 108.401 0.198
202009 0.582 108.164 0.601
202012 0.765 108.559 0.787
202103 0.565 110.298 0.572
202106 0.622 111.720 0.622

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


BCE  (NYSE:BCE) 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.

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

Shiller PE Ratio=Share Price/E10
=51.07/2.68
=19.06

* 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 BCE was 21.78. The lowest was 14.76. And the median was 18.02.


Be Aware

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


BCE E10 Related Terms

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


BCE Business Description

BCE logo
Industry
Address
1 Carrefour Alexander-Graham-Bell, Building A, 7th Floor, Verdun, QC, CAN, H3E 3B3
BCE is both a wireless and Internet service provider, offering wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrier--the legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provinces--Ontario and Quebec. Additionally, BCE has a media segment, which holds television, radio, and digital media assets. BCE licenses the Canadian rights to movie channels including HBO, Showtime, and Starz. In 2020, the wireline segment accounted for 55% of total EBITDA, while wireless composed 38%, and media provided the remainder.

BCE Headlines

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