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Royal Dutch Shell E10

: $3.98 (As of Jun. 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.

Royal Dutch Shell's adjusted earnings per share data for the three months ended in Jun. 2020 was $-4.660. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $3.98 for the trailing ten years ended in Jun. 2020.

As of today (2020-08-05), Royal Dutch Shell's current stock price is $31.54. Royal Dutch Shell's E10 for the quarter that ended in Jun. 2020 was $3.98. Royal Dutch Shell's Shiller PE Ratio of today is 7.92.

During the past 13 years, the highest Shiller PE Ratio of Royal Dutch Shell was 16.11. The lowest was 5.17. And the median was 10.11.


Royal Dutch Shell 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.

Royal Dutch Shell 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 6.11 4.37 4.65 4.36 4.69

Royal Dutch Shell Quarterly Data
Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20
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 4.51 4.47 4.69 4.46 3.98

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.


Royal Dutch Shell E10 Distribution

* The bar in red indicates where Royal Dutch Shell's E10 falls into.



Royal Dutch Shell 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, Royal Dutch Shell's adjusted earnings per share data for the three months ended in Jun. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2020 (Change)*Current CPI (Jun. 2020)
=-4.66/107.5100*107.5100
=-4.660

Current CPI (Jun. 2020) = 107.5100.

Royal Dutch Shell Quarterly Data

per share eps CPI Adj_EPS
201009 1.120 92.130 1.307
201012 2.200 91.720 2.579
201103 2.840 93.960 3.250
201106 2.780 94.040 3.178
201109 2.240 94.570 2.546
201112 2.080 93.990 2.379
201203 2.800 96.170 3.130
201206 1.320 96.200 1.475
201209 2.280 97.290 2.520
201212 2.140 96.780 2.377
201303 2.580 98.670 2.811
201306 0.540 99.150 0.586
201309 1.500 98.800 1.632
201312 0.560 98.150 0.613
201403 1.440 99.850 1.550
201406 1.680 100.050 1.805
201409 1.400 99.840 1.508
201412 0.180 98.150 0.197
201503 1.380 100.390 1.478
201506 1.240 101.000 1.320
201509 -2.340 100.410 -2.505
201512 0.300 98.710 0.327
201603 0.140 100.400 0.150
201606 0.300 100.760 0.320
201609 0.340 100.830 0.363
201612 0.380 100.350 0.407
201703 0.860 101.980 0.907
201706 0.380 102.110 0.400
201709 1.000 102.170 1.052
201712 0.920 101.820 0.971
201803 1.400 103.110 1.460
201806 1.440 104.280 1.485
201809 1.400 104.320 1.443
201812 1.340 104.050 1.385
201903 1.460 106.080 1.480
201906 0.740 106.900 0.744
201909 1.460 107.160 1.465
201912 0.240 105.970 0.243
202003 -0.006 107.340 -0.006
202006 -4.660 107.510 -4.660

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


Royal Dutch Shell  (NYSE:RDS.A) 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.

Royal Dutch Shell's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=31.54/3.98
=7.92

* 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 Royal Dutch Shell was 16.11. The lowest was 5.17. And the median was 10.11.


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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