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Spire E10

: $3.33 (As of Dec. 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.

Spire's adjusted earnings per share data for the three months ended in Dec. 2019 was $1.240. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $3.33 for the trailing ten years ended in Dec. 2019.

As of today (2020-02-25), Spire's current stock price is $85.84. Spire's E10 for the quarter that ended in Dec. 2019 was $3.33. Spire's Shiller PE Ratio of today is 25.78.

During the past 13 years, the highest Shiller PE Ratio of Spire was 26.30. The lowest was 16.08. And the median was 19.67.


Spire 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.

Spire Annual Data
Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.91 3.00 3.16 3.25 3.32

Spire Quarterly Data
Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19
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 3.22 3.38 3.37 3.32 3.33

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.


Spire E10 Distribution

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



Spire 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, Spire's adjusted earnings per share data for the three months ended in Dec. 2019 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2019 (Change)*Current CPI (Dec. 2019)
=1.24/257.14*257.14
=1.240

Current CPI (Dec. 2019) = 257.14.

Spire Quarterly Data

per share eps CPI Adj_EPS
201003 1.260 217.630 1.489
201006 0.210 217.970 0.248
201009 -0.080 218.440 -0.094
201012 1.050 219.180 1.232
201103 1.250 223.470 1.438
201106 0.690 225.720 0.786
201109 -0.130 226.890 -0.147
201112 1.120 225.670 1.276
201203 1.320 229.390 1.480
201206 0.380 229.480 0.426
201209 -0.030 231.410 -0.033
201212 1.140 229.600 1.277
201303 1.340 232.770 1.480
201306 0.250 233.500 0.275
201309 -0.600 234.150 -0.659
201312 1.090 233.050 1.203
201403 1.590 236.290 1.730
201406 0.330 238.340 0.356
201409 -0.620 238.030 -0.670
201412 1.090 234.810 1.194
201503 2.180 236.120 2.374
201506 0.320 238.640 0.345
201509 -0.430 237.940 -0.465
201512 1.080 236.530 1.174
201603 2.310 238.130 2.494
201606 0.240 241.020 0.256
201609 -0.310 241.430 -0.330
201612 0.990 241.430 1.054
201703 2.360 243.800 2.489
201706 0.450 244.960 0.472
201709 -0.280 246.820 -0.292
201712 2.390 246.520 2.493
201803 2.030 249.550 2.092
201806 0.520 251.990 0.531
201809 -0.510 252.440 -0.519
201812 1.320 251.230 1.351
201903 3.040 254.200 3.075
201906 -0.090 256.140 -0.090
201909 -0.750 256.760 -0.751
201912 1.240 257.140 1.240

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


Spire  (NYSE:SR) 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.

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

Shiller PE Ratio=Share Price/E10
=85.84/3.33
=25.78

* 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 Spire was 26.30. The lowest was 16.08. And the median was 19.67.


Be Aware

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


Spire E10 Related Terms


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