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BCE E10

: $2.27 (As of Mar. 2020)
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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 Mar. 2020 was $0.537. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.27 for the trailing ten years ended in Mar. 2020.

As of today (2020-07-10), BCE's current stock price is $40.58. BCE's E10 for the quarter that ended in Mar. 2020 was $2.27. BCE's Shiller PE Ratio of today is 17.88.

During the past 13 years, the highest Shiller PE Ratio of BCE was 21.63. The lowest was 8.51. And the median was 17.66.


BCE 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.

BCE Annual Data
Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.14 2.30 2.29 2.28 2.52

BCE Quarterly Data
Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20
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 2.39 2.48 2.46 2.52 2.27

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.


BCE E10 Distribution

* 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 Mar. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2020 (Change)*Current CPI (Mar. 2020)
=0.53724928366762/107.2162*107.2162
=0.537

Current CPI (Mar. 2020) = 107.2162.

BCE Quarterly Data

per share eps CPI Adj_EPS
201006 0.771 92.283 0.896
201009 0.581 92.757 0.671
201012 0.417 93.074 0.480
201103 0.686 94.654 0.777
201106 0.778 94.812 0.880
201109 0.828 95.444 0.930
201112 0.606 95.365 0.681
201203 0.694 96.550 0.771
201206 0.914 95.997 1.021
201209 0.695 96.550 0.772
201212 0.919 95.839 1.029
201303 0.713 96.945 0.788
201306 0.717 97.261 0.791
201309 0.425 97.182 0.469
201312 0.592 97.261 0.653
201403 0.711 98.920 0.771
201406 0.720 99.315 0.778
201409 0.699 99.473 0.754
201412 0.546 98.209 0.596
201503 0.499 99.710 0.537
201506 0.728 100.579 0.776
201509 0.656 100.500 0.700
201512 0.423 100.184 0.453
201603 0.620 101.370 0.656
201606 0.690 101.844 0.727
201609 0.664 102.002 0.698
201612 0.562 102.318 0.589
201703 0.545 103.029 0.567
201706 0.639 103.029 0.665
201709 0.733 103.424 0.760
201712 0.493 104.056 0.508
201803 0.564 105.320 0.575
201806 0.602 106.110 0.608
201809 0.691 105.952 0.699
201812 0.506 105.557 0.514
201903 0.613 107.453 0.612
201906 0.640 108.243 0.634
201909 0.725 107.927 0.720
201912 0.562 108.085 0.557
202003 0.537 107.216 0.537

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
=40.58/2.27
=17.88

* 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 BCE was 21.63. The lowest was 8.51. And the median was 17.66.


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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