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Hercules Capital E10

: $1.26 (As of Dec. 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.

Hercules Capital's adjusted earnings per share data for the three months ended in Dec. 2020 was $1.310. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.26 for the trailing ten years ended in Dec. 2020.

As of today (2021-04-21), Hercules Capital's current stock price is $17.150000. Hercules Capital's E10 for the quarter that ended in Dec. 2020 was $1.26. Hercules Capital's Shiller PE Ratio of today is 13.61.

During the past 13 years, the highest Shiller PE Ratio of Hercules Capital was 153.00. The lowest was 6.57. And the median was 13.77.


Hercules Capital E10 Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

* Premium members only.

Hercules Capital Annual Data
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 0.95 0.88 0.91 1.06 1.26

Hercules Capital Quarterly Data
Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20
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 1.06 1.01 1.09 1.16 1.26

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.


Hercules Capital E10 Distribution

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



Hercules Capital 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, Hercules Capital's adjusted earnings per share data for the three months ended in Dec. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2020 (Change)*Current CPI (Dec. 2020)
=1.31/110.3642*110.3642
=1.310

Current CPI (Dec. 2020) = 110.3642.

Hercules Capital Quarterly Data

per share eps CPI Adj_EPS
201103 -0.030 94.890 -0.035
201106 0.560 95.319 0.648
201109 0.140 95.529 0.162
201112 0.400 95.632 0.462
201203 0.360 97.075 0.409
201206 0.001 96.661 0.001
201209 0.090 97.595 0.102
201212 0.470 97.158 0.534
201303 0.300 98.107 0.337
201306 0.340 98.557 0.381
201309 0.590 98.536 0.661
201312 0.400 98.692 0.447
201403 0.350 100.023 0.386
201406 0.200 100.520 0.220
201409 0.230 100.176 0.253
201412 0.320 98.604 0.358
201503 0.330 99.824 0.365
201506 0.030 100.691 0.033
201509 0.050 100.346 0.055
201512 0.200 99.957 0.221
201603 0.200 100.947 0.219
201606 0.130 101.524 0.141
201609 0.410 101.988 0.444
201612 0.170 102.456 0.183
201703 -0.070 103.167 -0.075
201706 0.400 103.278 0.427
201709 0.400 104.070 0.424
201712 0.220 104.578 0.232
201803 0.070 105.708 0.073
201806 0.590 106.324 0.612
201809 0.370 106.695 0.383
201812 -0.180 106.200 -0.187
201903 0.640 107.818 0.655
201906 0.490 108.250 0.500
201909 0.180 108.577 0.183
201912 0.420 108.841 0.426
202003 -0.270 108.173 -0.275
202006 0.550 109.318 0.555
202009 0.380 109.861 0.382
202012 1.310 110.364 1.310

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


Hercules Capital  (NYSE:HTGC) 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.

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

Shiller PE Ratio=Share Price/E10
=17.150000/1.26
=13.61

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of Hercules Capital was 153.00. The lowest was 6.57. And the median was 13.77.


Be Aware

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


Hercules Capital E10 Related Terms


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