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Philip Morris International E10

: $5.15 (As of Dec. 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.

Philip Morris International's adjusted earnings per share data for the three months ended in Dec. 2020 was $1.270. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $5.15 for the trailing ten years ended in Dec. 2020.

As of today (2021-03-02), Philip Morris International's current stock price is $85.070000. Philip Morris International's E10 for the quarter that ended in Dec. 2020 was $5.15. Philip Morris International's Shiller PE Ratio of today is 16.52.

During the past 13 years, the highest Shiller PE Ratio of Philip Morris International was 26.49. The lowest was 12.15. And the median was 17.78.


Philip Morris International 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.

Philip Morris International 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 4.51 4.66 4.85 5.05 5.15

Philip Morris International Quarterly Data
Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20
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 5.05 5.03 5.08 5.13 5.15

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.


Philip Morris International E10 Distribution

* The bar in red indicates where Philip Morris International's E10 falls into.



Philip Morris International 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, Philip Morris International's adjusted earnings per share data for the three months ended in Dec. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2020 (Change)*Current CPI (Dec. 2020)
=1.27/109.8968*109.8968
=1.270

Current CPI (Dec. 2020) = 109.8968.

Philip Morris International Quarterly Data

per share eps CPI Adj_EPS
201103 1.060 94.890 1.228
201106 1.350 95.319 1.556
201109 1.350 95.529 1.553
201112 1.090 95.632 1.253
201203 1.250 97.075 1.415
201206 1.360 96.661 1.546
201209 1.320 97.595 1.486
201212 1.250 97.158 1.414
201303 1.280 98.107 1.434
201306 1.300 98.557 1.450
201309 1.440 98.536 1.606
201312 1.240 98.692 1.381
201403 1.180 100.023 1.296
201406 1.170 100.520 1.279
201409 1.380 100.176 1.514
201412 1.030 98.604 1.148
201503 1.160 99.824 1.277
201506 1.210 100.691 1.321
201509 1.250 100.346 1.369
201512 0.800 99.957 0.880
201603 0.980 100.947 1.067
201606 1.150 101.524 1.245
201609 1.250 101.988 1.347
201612 1.100 102.456 1.180
201703 1.020 103.167 1.087
201706 1.140 103.278 1.213
201709 1.270 104.070 1.341
201712 0.440 104.578 0.462
201803 1.000 105.708 1.040
201806 1.410 106.324 1.457
201809 1.440 106.695 1.483
201812 1.230 106.200 1.273
201903 0.870 107.818 0.887
201906 1.490 108.250 1.513
201909 1.220 108.577 1.235
201912 1.040 108.841 1.050
202003 1.170 108.173 1.189
202006 1.250 109.318 1.257
202009 1.480 109.861 1.480
202012 1.270 109.897 1.270

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


Philip Morris International  (NYSE:PM) 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.

Philip Morris International's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=85.070000/5.15
=16.52

* 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 Philip Morris International was 26.49. The lowest was 12.15. And the median was 17.78.


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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