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General Mills E10

: $3.02 (As of May. 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.

General Mills's adjusted earnings per share data for the three months ended in May. 2020 was $1.020. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $3.02 for the trailing ten years ended in May. 2020.

As of today (2020-08-06), General Mills's current stock price is $64.08. General Mills's E10 for the quarter that ended in May. 2020 was $3.02. General Mills's Shiller PE Ratio of today is 21.22.

During the past 13 years, the highest Shiller PE Ratio of General Mills was 29.46. The lowest was 13.26. And the median was 21.36.


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
May11 May12 May13 May14 May15 May16 May17 May18 May19 May20
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.46 2.59 2.82 2.93 3.02

General Mills Quarterly Data
Aug15 Nov15 Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20
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 2.93 2.95 2.94 2.97 3.02

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.

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, General Mills's adjusted earnings per share data for the three months ended in May. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of May. 2020 (Change)*Current CPI (May. 2020)
=1.02/108.1754*108.1754
=1.020

Current CPI (May. 2020) = 108.1754.

General Mills Quarterly Data

per share eps CPI Adj_EPS
201008 0.700 92.162 0.822
201011 0.920 92.474 1.076
201102 0.590 94.283 0.677
201105 0.480 95.235 0.545
201108 0.610 95.727 0.689
201111 0.670 95.213 0.761
201202 0.580 96.783 0.648
201205 0.490 96.819 0.547
201208 0.820 97.633 0.909
201211 0.820 96.871 0.916
201302 0.600 98.209 0.661
201305 0.550 98.518 0.604
201308 0.700 98.790 0.767
201311 0.840 98.326 0.924
201402 0.640 99.695 0.694
201405 0.650 100.560 0.699
201408 0.550 100.428 0.592
201411 0.560 99.070 0.611
201502 0.560 99.621 0.608
201505 0.300 100.684 0.322
201508 0.690 100.392 0.743
201511 0.870 99.792 0.943
201602 0.590 100.470 0.635
201605 0.620 101.688 0.660
201608 0.670 101.861 0.712
201611 0.800 101.863 0.850
201702 0.610 102.862 0.642
201705 0.690 103.349 0.722
201708 0.690 104.136 0.717
201711 0.740 104.011 0.770
201802 1.620 105.290 1.664
201805 0.590 106.317 0.600
201808 0.650 106.507 0.660
201811 0.570 105.998 0.582
201902 0.740 107.251 0.746
201905 0.940 108.070 0.941
201908 0.850 108.329 0.849
201911 0.950 108.420 0.948
202002 0.740 108.902 0.735
202005 1.020 108.175 1.020

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
=64.08/3.02
=21.22

* 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 29.46. The lowest was 13.26. And the median was 21.36.


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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