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ICICI Bank E10

: $0.92 (As of Sep. 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.

ICICI Bank's adjusted earnings per share data for the three months ended in Sep. 2021 was $0.234. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $0.92 for the trailing ten years ended in Sep. 2021.

As of today (2021-11-29), ICICI Bank's current stock price is $19.005. ICICI Bank's E10 for the quarter that ended in Sep. 2021 was $0.92. ICICI Bank's Shiller PE Ratio of today is 20.66.

During the past 13 years, the highest Shiller PE Ratio of ICICI Bank was 23.38. The lowest was 9.57. And the median was 14.41.


ICICI Bank E10 Historical Data

The historical data trend for ICICI Bank'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.

ICICI Bank Annual Data
Trend Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21
E10
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.80 0.85 0.80 0.79 0.90

ICICI Bank Quarterly Data
Jun16 Sep16 Dec16 Mar17 Sep17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 0.88 0.90 0.90 0.91 0.92

Competitive Comparison

For the Banks - Regional subindustry, ICICI Bank'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.

   

ICICI Bank E10 Distribution

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

* The bar in red indicates where ICICI Bank's E10 falls into.



ICICI Bank 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, ICICI Bank's adjusted earnings per share data for the three months ended in Sep. 2021 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2021 (Change)*Current CPI (Sep. 2021)
=0.234/135.8470*135.8470
=0.234

Current CPI (Sep. 2021) = 135.8470.

ICICI Bank Quarterly Data

per share eps CPI Adj_EPS
201103 0.110 70.768 0.211
201106 0.117 72.298 0.220
201109 0.131 75.359 0.236
201112 0.130 75.359 0.234
201203 0.113 76.889 0.200
201206 0.117 79.567 0.200
201209 0.138 82.244 0.228
201303 0.143 85.687 0.227
201306 0.147 88.365 0.226
201309 0.133 91.042 0.198
201312 0.146 91.425 0.217
201403 0.140 91.425 0.208
201406 0.148 94.103 0.214
201409 0.157 96.780 0.220
201412 0.808 96.780 1.134
201503 0.153 97.163 0.214
201506 0.787 99.841 1.071
201509 0.802 101.753 1.071
201512 0.146 102.901 0.193
201603 0.094 102.518 0.125
201606 0.582 105.961 0.746
201609 0.695 105.961 0.891
201612 0.120 105.196 0.155
201703 0.098 105.196 0.127
201709 0.099 109.021 0.123
201803 0.054 109.786 0.067
201806 0.000 111.317 0.000
201809 0.051 115.142 0.060
201812 0.081 115.142 0.096
201903 0.052 118.202 0.060
201906 0.110 120.880 0.124
201909 0.048 123.175 0.053
201912 0.199 126.235 0.214
202003 0.051 124.705 0.056
202006 0.126 127.000 0.135
202009 0.196 130.118 0.205
202012 0.213 130.889 0.221
202103 0.190 131.771 0.196
202106 0.183 134.084 0.185
202109 0.234 135.847 0.234

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


ICICI Bank  (NYSE:IBN) 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.

ICICI Bank's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=19.005/0.92
=20.66

* 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 ICICI Bank was 23.38. The lowest was 9.57. And the median was 14.41.


Be Aware

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


ICICI Bank E10 Related Terms

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


ICICI Bank Business Description

ICICI Bank logo
Industry
Financial Services » Banks NAICS : 0 SIC : 0
Address
ICICI Bank Towers, Bandra-Kurla Complex, Mumbai, MH, IND, 400 051
ICICI Bank Ltd provides banking services. The company's operating segment include Retail Banking; Wholesale Banking; Treasury and Other Banking Business. It generates maximum revenue from the Retail Banking segment. Retail Banking segment includes exposures of the Bank, which satisfy the four qualifying criteria of a regulatory retail portfolio as stipulated by RBI guidelines on the Basel III framework as well as includes income from credit cards, debit cards, third party product distribution, and the associated costs. Treasury segment includes the entire investment and derivative portfolio of the Bank. Wholesale Banking segment includes all advances to trusts, partnership firms, companies, and statutory bodies.

ICICI Bank Headlines

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