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National Retail Properties E10

: $1.40 (As of Mar. 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.

National Retail Properties's adjusted earnings per share data for the three months ended in Mar. 2021 was $0.300. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.40 for the trailing ten years ended in Mar. 2021.

As of today (2021-05-12), National Retail Properties's current stock price is $44.71. National Retail Properties's E10 for the quarter that ended in Mar. 2021 was $1.40. National Retail Properties's Shiller PE Ratio of today is 31.94.

During the past 13 years, the highest Shiller PE Ratio of National Retail Properties was 45.23. The lowest was 13.14. And the median was 25.69.


National Retail Properties E10 Historical Data

* 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.

National Retail Properties 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 1.32 1.23 1.23 1.34 1.39

National Retail Properties Quarterly Data
Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21
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 1.35 1.36 1.37 1.39 1.40

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.


National Retail Properties E10 Distribution

* The bar in red indicates where National Retail Properties's E10 falls into.



National Retail Properties 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, National Retail Properties's adjusted earnings per share data for the three months ended in Mar. 2021 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2021 (Change)*Current CPI (Mar. 2021)
=0.3/110.9684*110.9684
=0.300

Current CPI (Mar. 2021) = 110.9684.

National Retail Properties Quarterly Data

per share eps CPI Adj_EPS
201106 0.230 95.319 0.268
201109 0.240 95.529 0.279
201112 0.260 95.632 0.302
201203 0.230 97.075 0.263
201206 0.260 96.661 0.298
201209 0.300 97.595 0.341
201212 0.320 97.158 0.365
201303 0.250 98.107 0.283
201306 0.270 98.557 0.304
201309 0.290 98.536 0.327
201312 0.290 98.692 0.326
201403 0.280 100.023 0.311
201406 0.300 100.520 0.331
201409 0.310 100.176 0.343
201412 0.350 98.604 0.394
201503 0.340 99.824 0.378
201506 0.280 100.691 0.309
201509 0.340 100.346 0.376
201512 0.240 99.957 0.266
201603 0.440 100.947 0.484
201606 0.300 101.524 0.328
201609 0.280 101.988 0.305
201612 0.370 102.456 0.401
201703 0.350 103.167 0.376
201706 0.330 103.278 0.355
201709 0.350 104.070 0.373
201712 0.420 104.578 0.446
201803 0.620 105.708 0.651
201806 0.400 106.324 0.417
201809 0.470 106.695 0.489
201812 0.170 106.200 0.178
201903 0.440 107.818 0.453
201906 0.430 108.250 0.441
201909 0.350 108.577 0.358
201912 0.340 108.841 0.347
202003 0.350 108.173 0.359
202006 0.240 109.318 0.244
202009 0.300 109.861 0.303
202012 0.330 110.364 0.332
202103 0.300 110.968 0.300

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


National Retail Properties  (NYSE:NNN) 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.

National Retail Properties's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=44.71/1.4
=31.94

* 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 National Retail Properties was 45.23. The lowest was 13.14. And the median was 25.69.


Be Aware

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


National Retail Properties E10 Related Terms


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