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Lockheed Martin E10

: $13.18 (As of Mar. 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.

Lockheed Martin's adjusted earnings per share data for the three months ended in Mar. 2020 was $6.080. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $13.18 for the trailing ten years ended in Mar. 2020.

As of today (2020-05-24), Lockheed Martin's current stock price is $369.00. Lockheed Martin's E10 for the quarter that ended in Mar. 2020 was $13.18. Lockheed Martin's Shiller PE Ratio of today is 28.00.

During the past 13 years, the highest Shiller PE Ratio of Lockheed Martin was 35.38. The lowest was 12.76. And the median was 22.82.


Lockheed Martin 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.

Lockheed Martin Annual Data
Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.91 10.13 10.19 11.23 12.87

Lockheed Martin Quarterly Data
Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20
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 11.74 12.13 12.45 12.87 13.18

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.


Lockheed Martin E10 Distribution

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



Lockheed Martin 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, Lockheed Martin's adjusted earnings per share data for the three months ended in Mar. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2020 (Change)*Current CPI (Mar. 2020)
=6.08/258.12*258.12
=6.080

Current CPI (Mar. 2020) = 258.12.

Lockheed Martin Quarterly Data

per share eps CPI Adj_EPS
201006 2.220 217.970 2.629
201009 1.540 218.440 1.820
201012 2.640 219.180 3.109
201103 1.500 223.470 1.733
201106 2.140 225.720 2.447
201109 2.100 226.890 2.389
201112 2.080 225.670 2.379
201203 2.030 229.390 2.284
201206 2.380 229.480 2.677
201209 2.210 231.410 2.465
201212 1.730 229.600 1.945
201303 2.330 232.770 2.584
201306 2.640 233.500 2.918
201309 2.660 234.150 2.932
201312 1.500 233.050 1.661
201403 2.870 236.290 3.135
201406 2.760 238.340 2.989
201409 2.760 238.030 2.993
201412 2.820 234.810 3.100
201503 2.740 236.120 2.995
201506 2.940 238.640 3.180
201509 2.770 237.940 3.005
201512 3.010 236.530 3.285
201603 2.910 238.130 3.154
201606 3.320 241.020 3.556
201609 7.930 241.430 8.478
201612 3.350 241.430 3.582
201703 2.690 243.800 2.848
201706 3.280 244.960 3.456
201709 3.320 246.820 3.472
201712 -2.250 246.520 -2.356
201803 4.020 249.550 4.158
201806 4.050 251.990 4.149
201809 5.140 252.440 5.256
201812 4.390 251.230 4.510
201903 5.990 254.200 6.082
201906 5.000 256.140 5.039
201909 5.660 256.760 5.690
201912 5.290 256.970 5.314
202003 6.080 258.120 6.080

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


Lockheed Martin  (NYSE:LMT) 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.

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

Shiller PE Ratio=Share Price/E10
=369.00/13.18
=28.00

* 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 Lockheed Martin was 35.38. The lowest was 12.76. And the median was 22.82.


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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