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Main Street Capital E10

: $2.83 (As of Jun. 2019)
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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.

Main Street Capital's adjusted earnings per share data for the three months ended in Jun. 2019 was $0.610. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.83 for the trailing ten years ended in Jun. 2019.

As of today (2019-10-19), Main Street Capital's current stock price is $42.17. Main Street Capital's E10 for the quarter that ended in Jun. 2019 was $2.83. Main Street Capital's Shiller PE Ratio of today is 14.90.

During the past 13 years, the highest Shiller PE Ratio of Main Street Capital was 17.51. The lowest was 12.22. And the median was 15.31.


Main Street Capital 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.

Main Street Capital Annual Data
Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 2.24 2.49 2.68

Main Street Capital Quarterly Data
Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19
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 2.60 2.70 2.68 2.78 2.83

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.


Main Street Capital E10 Distribution

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



Main Street 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.

For example, Main Street Capital's adjusted earnings per share data for the three months ended in Jun. 2019 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2019 (Change)*Current CPI (Jun. 2019)
=0.61/256.143*256.143
=0.610

Current CPI (Jun. 2019) = 256.143.

Main Street Capital Quarterly Data

per share eps CPI Adj_EPS
200909 0.660 215.969 0.783
200912 0.140 215.949 0.166
201003 0.630 217.631 0.741
201006 0.590 217.965 0.693
201009 0.650 218.439 0.762
201012 0.510 219.179 0.596
201103 0.540 223.467 0.619
201106 0.420 225.722 0.477
201109 0.620 226.889 0.700
201112 0.820 225.672 0.931
201203 0.890 229.392 0.994
201206 0.880 229.478 0.982
201209 1.010 231.407 1.118
201212 0.760 229.601 0.848
201303 0.680 232.773 0.748
201306 0.690 233.504 0.757
201309 0.760 234.149 0.831
201312 0.530 233.049 0.583
201403 0.680 236.293 0.737
201406 0.680 238.343 0.731
201409 0.480 238.031 0.517
201412 0.490 234.812 0.535
201503 0.770 236.119 0.835
201506 0.820 238.638 0.880
201509 0.410 237.945 0.441
201512 0.150 236.525 0.162
201603 0.330 238.132 0.355
201606 0.600 241.018 0.638
201609 0.820 241.428 0.870
201612 0.900 241.432 0.955
201703 0.570 243.801 0.599
201706 0.760 244.955 0.795
201709 0.610 246.819 0.633
201712 1.050 246.524 1.091
201803 0.587 249.554 0.602
201806 0.930 251.989 0.945
201809 1.130 252.439 1.147
201812 0.160 251.233 0.163
201903 0.669 254.202 0.674
201906 0.610 256.143 0.610

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


Main Street Capital  (NYSE:MAIN) 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.

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

Shiller PE Ratio=Share Price/E10
=42.17/2.83
=14.90

* 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 Main Street Capital was 17.51. The lowest was 12.22. And the median was 15.31.


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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