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Spire E10

: $3.40 (As of Mar. 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 Mar. 2019 was $3.040. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $3.40 for the trailing ten years ended in Mar. 2019.

As of today, Spire's current stock price is $84.95. Spire's E10 for the quarter that ended in Mar. 2019 was $3.40. Spire's Shiller PE Ratio of today is 24.99.

During the past 13 years, the highest Shiller PE Ratio of Spire was 28.99. The lowest was 16.08. And the median was 19.61.


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

Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.61 2.92 3.01 3.17 3.26

Spire Quarterly Data

Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19
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 3.26 3.29 3.26 3.19 3.40

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.


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 Mar. 2019 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2019 (Change)*Current CPI (Mar. 2019)
=3.04/254.202*254.202
=3.040

Current CPI (Mar. 2019) = 254.202.

Spire Quarterly Data

per share eps CPI Adj_EPS
200906 0.310 215.693 0.365
200909 -0.220 215.969 -0.259
200912 1.030 215.949 1.212
201003 1.260 217.631 1.472
201006 0.210 217.965 0.245
201009 -0.080 218.439 -0.093
201012 1.050 219.179 1.218
201103 1.250 223.467 1.422
201106 0.690 225.722 0.777
201109 -0.130 226.889 -0.146
201112 1.120 225.672 1.262
201203 1.320 229.392 1.463
201206 0.380 229.478 0.421
201209 -0.030 231.407 -0.033
201212 1.140 229.601 1.262
201303 1.340 232.773 1.463
201306 0.250 233.504 0.272
201309 -0.600 234.149 -0.651
201312 1.090 233.049 1.189
201403 1.590 236.293 1.711
201406 0.330 238.343 0.352
201409 -0.620 238.031 -0.662
201412 1.090 234.812 1.180
201503 2.180 236.119 2.347
201506 0.320 238.638 0.341
201509 -0.430 237.945 -0.459
201512 1.080 236.525 1.161
201603 2.310 238.132 2.466
201606 0.240 241.018 0.253
201609 -0.310 241.428 -0.326
201612 0.990 241.432 1.042
201703 2.360 243.801 2.461
201706 0.450 244.955 0.467
201709 -0.280 246.819 -0.288
201712 2.390 246.524 2.464
201803 2.030 249.554 2.068
201806 0.520 251.989 0.525
201809 -0.510 252.439 -0.514
201812 1.320 251.233 1.336
201903 3.040 254.202 3.040

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
=84.95/3.40
=24.99

* 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 28.99. The lowest was 16.08. And the median was 19.61.


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 Explanation


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