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General Mills E10

: $2.93 (As of May. 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.

General Mills's adjusted earnings per share data for the three months ended in May. 2019 was $0.940. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.93 for the trailing ten years ended in May. 2019.

As of today, General Mills's current stock price is $55.20. General Mills's E10 for the quarter that ended in May. 2019 was $2.93. General Mills's Shiller PE Ratio of today is 18.84.

During the past 13 years, the highest Shiller PE Ratio of General Mills was 29.58. The lowest was 13.26. And the median was 21.42.


General Mills 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.

General Mills Annual Data
May10 May11 May12 May13 May14 May15 May16 May17 May18 May19
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.33 2.45 2.58 2.81 2.93

General Mills Quarterly Data
Aug14 Nov14 Feb15 May15 Aug15 Nov15 Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19
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 2.81 2.83 2.82 2.87 2.93

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.


General Mills E10 Distribution

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



General Mills 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, General Mills's adjusted earnings per share data for the three months ended in May. 2019 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of May. 2019 (Change)*Current CPI (May. 2019)
=0.94/256.092*256.092
=0.940

Current CPI (May. 2019) = 256.092.

General Mills Quarterly Data

per share eps CPI Adj_EPS
200908 0.620 215.834 0.736
200911 0.830 216.330 0.983
201002 0.480 216.741 0.567
201005 0.300 218.178 0.352
201008 0.700 218.312 0.821
201011 0.920 218.803 1.077
201102 0.590 221.309 0.683
201105 0.480 225.964 0.544
201108 0.610 226.545 0.690
201111 0.670 226.230 0.758
201202 0.580 227.663 0.652
201205 0.490 229.815 0.546
201208 0.820 230.379 0.912
201211 0.820 230.221 0.912
201302 0.600 232.166 0.662
201305 0.550 232.945 0.605
201308 0.700 233.877 0.766
201311 0.840 233.069 0.923
201402 0.640 234.781 0.698
201405 0.650 237.900 0.700
201408 0.550 237.852 0.592
201411 0.560 236.151 0.607
201502 0.560 234.722 0.611
201505 0.300 237.805 0.323
201508 0.690 238.316 0.741
201511 0.870 237.336 0.939
201602 0.590 237.111 0.637
201605 0.620 240.229 0.661
201608 0.670 240.849 0.712
201611 0.800 241.353 0.849
201702 0.610 243.603 0.641
201705 0.690 244.733 0.722
201708 0.690 245.519 0.720
201711 0.740 246.669 0.768
201802 1.620 248.991 1.666
201805 0.590 251.588 0.601
201808 0.650 252.146 0.660
201811 0.570 252.038 0.579
201902 0.740 252.776 0.750
201905 0.940 256.092 0.940

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


General Mills  (NYSE:GIS) 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.

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

Shiller PE Ratio=Share Price/E10
=55.20/2.93
=18.84

* 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 General Mills was 29.58. The lowest was 13.26. And the median was 21.42.


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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