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First Horizon E10

: $0.94 (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.

First Horizon's adjusted earnings per share data for the three months ended in Jun. 2021 was $0.530. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.94 for the trailing ten years ended in Jun. 2021.

As of today (2021-10-18), First Horizon's current stock price is $16.935. First Horizon's E10 for the quarter that ended in Jun. 2021 was $0.94. First Horizon's Shiller PE Ratio of today is 18.02.

During the past 13 years, the highest Shiller PE Ratio of First Horizon was 343.00. The lowest was 4.29. And the median was 18.48.


First Horizon E10 Historical Data

The historical data trend for First Horizon'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.

First Horizon 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 -0.14 0.06 0.33 0.64 0.84

First Horizon 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 0.68 0.77 0.84 0.87 0.94

Competitive Comparison

For the Banks - Regional subindustry, First Horizon'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.

   

First Horizon E10 Distribution

For the Banks industry and Financial Services sector, First Horizon's E10 distribution charts can be found below:

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



First Horizon 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, First Horizon'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)
=0.53/114.6314*114.6314
=0.530

Current CPI (Jun. 2021) = 114.6314.

First Horizon Quarterly Data

per share eps CPI Adj_EPS
201109 0.140 95.727 0.168
201112 0.130 95.213 0.157
201203 0.120 96.783 0.142
201206 -0.500 96.819 -0.592
201209 0.100 97.633 0.117
201212 0.167 96.871 0.198
201303 0.170 98.209 0.198
201306 0.170 98.518 0.198
201309 -0.450 98.790 -0.522
201312 0.210 98.326 0.245
201403 0.190 99.695 0.218
201406 0.330 100.560 0.376
201409 0.190 100.428 0.217
201412 0.198 99.070 0.229
201503 -0.330 99.621 -0.380
201506 0.220 100.684 0.250
201509 0.250 100.392 0.285
201512 0.200 99.792 0.230
201603 0.200 100.470 0.228
201606 0.240 101.688 0.271
201609 0.270 101.861 0.304
201612 0.230 101.863 0.259
201703 0.230 102.862 0.256
201706 0.380 103.349 0.421
201709 0.280 104.136 0.308
201712 -0.200 104.011 -0.220
201803 0.270 105.290 0.294
201806 0.250 106.317 0.270
201809 0.830 106.507 0.893
201812 0.300 105.998 0.324
201903 0.310 107.251 0.331
201906 0.350 108.070 0.371
201909 0.350 108.329 0.370
201912 0.370 108.420 0.391
202003 0.040 108.902 0.042
202006 0.170 108.767 0.179
202009 0.950 109.815 0.992
202012 0.420 109.897 0.438
202103 0.400 111.754 0.410
202106 0.530 114.631 0.530

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


First Horizon  (NYSE:FHN) 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.

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

Shiller PE Ratio=Share Price/E10
=16.935/0.94
=18.02

* 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 First Horizon was 343.00. The lowest was 4.29. And the median was 18.48.


Be Aware

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


First Horizon E10 Related Terms

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


First Horizon Business Description

First Horizon logo
Industry
Financial Services » Banks NAICS : 522110 SIC : 6021
Address
165 Madison Avenue, Memphis, TN, USA, 38103
First Horizon Corp is the parent company of First Tennessee Bank, a prominent regional bank with about 200 branches around Tennessee. The regional bank is responsible for roughly 65% of its revenue, while capital markets make a 25% contribution. The remainder is split between the firm's non-strategic (wind-down) and corporate operations. First Horizon concentrates on offering a variety of banking products mainly in its home state, where it has the second- largest deposit franchise with a 13% deposit market share.
Executives
Casbon John N director 200 WEST CONGRESS STREET LAFAYETTE LA 70501
Barton Harry V Jr director 200 WEST CONGRESS STREET LAFAYETTE LA 70501
Maples Ricky E director 200 WEST CONGRESS STREET LAFAYETTE LA 70501
Kemp Sr James Michael director 200 WEST CONGRESS STREET LAFAYETTE LA 70501
Reed Colin V director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: REED COLIN V a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Subramaniam Rajesh director 165 MADISON AVE MEMPHIS TN 38103
Palmer Vicki R director PO BOX 723040 ATLANTA GA 30339
Stewart Cecelia D. director 8410 W. BRYN MAWR, SUITE 700 CHICAGO IL 60631
Compton John C director 700 ANDERSON HILL ROAD PURCHASE NY 10577
Fenstermaker William H director 200 WEST CONGRESS STREET LAFAYETTE LA 70501
Davidson Wendy P director 2210 WEST OAKLAWN DRIVE SPRINGDALE AR 72762
Shea E Stewart Iii director 200 WEST CONGRESS STREET LAFAYETTE LA 70501
Sugranes Rosa director 2975 N.W. 77TH AVE DORAL FL 33132
Burdick Kenneth A director 6705 ROCKLEDGE DR SUITE 900 BETHESDA MD 20817
Taylor R Eugene director BANK OF AMERICA CORP 100 NORTH TRYON ST NC1-007-57-01 CHARLOTTE NC 28255

First Horizon Headlines

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