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Lennar E10

: $5.95 (As of Feb. 2022)
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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.

Lennar's adjusted earnings per share data for the three months ended in Feb. 2022 was $1.690. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $5.95 for the trailing ten years ended in Feb. 2022.

As of today (2022-05-21), Lennar's current stock price is $74.44. Lennar's E10 for the quarter that ended in Feb. 2022 was $5.95. Lennar's Shiller PE Ratio of today is 12.51.

During the past 13 years, the highest Shiller PE Ratio of Lennar was 536.25. The lowest was 9.88. And the median was 27.03.


Lennar E10 Historical Data

The historical data trend for Lennar'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.

Lennar Annual Data
Trend Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21
E10
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.96 2.32 3.23 4.00 5.68

Lennar Quarterly Data
May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22
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 4.35 4.71 5.22 5.68 5.95

Competitive Comparison

For the Residential Construction subindustry, Lennar'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.

   

Lennar E10 Distribution

For the Homebuilding & Construction industry and Consumer Cyclical sector, Lennar's E10 distribution charts can be found below:

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



Lennar 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, Lennar's adjusted earnings per share data for the three months ended in Feb. 2022 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Feb. 2022 (Change)*Current CPI (Feb. 2022)
=1.69/119.7028*119.7028
=1.690

Current CPI (Feb. 2022) = 119.7028.

Lennar Quarterly Data

per share eps CPI Adj_EPS
201205 2.020 96.961 2.494
201208 0.392 97.199 0.483
201211 0.549 97.133 0.677
201302 0.255 97.953 0.312
201305 0.598 98.282 0.728
201308 0.529 98.675 0.642
201311 0.716 98.334 0.872
201402 0.343 99.057 0.414
201405 0.598 100.373 0.713
201408 0.765 100.352 0.913
201411 1.049 99.635 1.260
201502 0.490 99.032 0.592
201505 0.775 100.333 0.925
201508 0.941 100.548 1.120
201511 1.186 100.135 1.418
201602 0.618 100.040 0.739
201605 0.931 101.355 1.100
201608 0.990 101.617 1.166
201611 1.314 101.829 1.545
201702 0.160 102.779 0.186
201705 0.890 103.256 1.032
201708 1.040 103.587 1.202
201711 1.290 104.072 1.484
201802 0.530 105.052 0.604
201805 0.940 106.148 1.060
201808 1.370 106.383 1.542
201811 2.420 106.338 2.724
201902 0.740 106.649 0.831
201905 1.300 108.048 1.440
201908 1.590 108.245 1.758
201911 2.130 108.519 2.350
202002 1.270 109.139 1.393
202005 1.650 108.175 1.826
202008 2.120 109.662 2.314
202011 2.820 109.793 3.075
202102 3.200 110.968 3.452
202105 2.650 113.576 2.793
202108 4.520 115.421 4.688
202111 3.910 117.269 3.991
202202 1.690 119.703 1.690

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


Lennar  (NYSE:LEN) 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.

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

Shiller PE Ratio=Share Price/E10
=74.44/5.95
=12.51

* 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 Lennar was 536.25. The lowest was 9.88. And the median was 27.03.


Be Aware

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


Lennar E10 Related Terms

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


Lennar Business Description

Lennar logo
Industry
Address
700 Northwest 107th Avenue, Miami, FL, USA, 33172
After merging with CalAtlantic in February 2018, Lennar has become the largest public homebuilder (by revenue) in the United States. The company's homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar's financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily construction and has invested in numerous housing-related technology startups.
Executives
Bessette Diane J officer: VP/CFO/Treasurer LENNAR CORPORATION 700 NW 107 AVE 4TH FLR MIAMI FL 33172
Collins David M officer: Controller LENNAR CORPORATION 700 NW 107 AVENUE STE 400 MIAMI FL 33172
Jaffe Jonathan M director, officer: President LENNAR CORPORATION 700 NW 107 AVE 4TH FLR MIAMI FL 33172
Mccall Jeffrey Joseph officer: Executive Vice President 26 TECHNOLOGY DRIVE IRVINE CA 92618
Stowell Scott D director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: STOWELL SCOTT D 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;}
Gerard Steven L director P.O. BOX 554 MILWAUKEE WI 53201-0554
Bolotin Irving director LENNAR CORPORATION 700 NW 107 AVE 4TH FLR MIAMI FL 33172
Sustana Mark officer: VP/General Counsel/Secretary LENNAR CORPORATION 700 NW 107 AVE 4TH FLR MIAMI FL 33172
Beckwitt Richard director, officer: Chief Executive Officer LENNAR CORPORATION 700 NW 107 AVE 4TH FLR MIAMI FL 33172
Olivera Armando J director C/O FLUOR CORPORATION 6700 LAS COLINAS BLVD IRVING TX 75039
Gilliam Theron I director GMS INC. 100 CRESCENT CENTRE PARKWAY, SUITE 800 TUCKER 2Q 30084
Mcclure Teri P director 55 GLENLAKE PARKWAY NE ATLANTA GA 30328
Sonnenfeld Jeffrey director 14 WALL ST 13TH FL NEW YORK NY 10005
Hudson Sherrill W director 201 SOUTH BISCAYNE BOULEVARD 34TH FLOOR, MIAMI CENTER MIAMI FL 33131
Lapidus Sidney director 466 LEXINGTON AVENUE FLOOR NEW YORK NY 10017

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