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Tyler Technologies E10

: $2.58 (As of Sep. 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.

Tyler Technologies's adjusted earnings per share data for the three months ended in Sep. 2020 was $0.940. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.58 for the trailing ten years ended in Sep. 2020.

As of today (2021-01-22), Tyler Technologies's current stock price is $426.710000. Tyler Technologies's E10 for the quarter that ended in Sep. 2020 was $2.58. Tyler Technologies's Shiller PE Ratio of today is 165.39.

During the past 13 years, the highest Shiller PE Ratio of Tyler Technologies was 191.12. The lowest was 48.22. And the median was 122.30.


Tyler Technologies 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.

Tyler Technologies 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 0.94 1.20 1.60 1.95 2.27

Tyler Technologies Quarterly Data
Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20
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 2.17 2.27 2.36 2.49 2.58

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.


Tyler Technologies E10 Distribution

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



Tyler Technologies 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, Tyler Technologies's adjusted earnings per share data for the three months ended in Sep. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2020 (Change)*Current CPI (Sep. 2020)
=0.94/109.8605*109.8605
=0.940

Current CPI (Sep. 2020) = 109.8605.

Tyler Technologies Quarterly Data

per share eps CPI Adj_EPS
201012 0.210 92.914 0.248
201103 0.170 94.890 0.197
201106 0.170 95.319 0.196
201109 0.230 95.529 0.265
201112 0.270 95.632 0.310
201203 0.170 97.075 0.192
201206 0.220 96.661 0.250
201209 0.330 97.595 0.371
201212 0.280 97.158 0.317
201303 0.250 98.107 0.280
201306 0.260 98.557 0.290
201309 0.320 98.536 0.357
201312 0.300 98.692 0.334
201403 0.330 100.023 0.362
201406 0.420 100.520 0.459
201409 0.480 100.176 0.526
201412 0.430 98.604 0.479
201503 0.480 99.824 0.528
201506 0.520 100.691 0.567
201509 0.550 100.346 0.602
201512 0.230 99.957 0.253
201603 0.470 100.947 0.512
201606 0.650 101.524 0.703
201609 0.910 101.988 0.980
201612 0.800 102.456 0.858
201703 0.840 103.167 0.894
201706 0.810 103.278 0.862
201709 0.990 104.070 1.045
201712 1.560 104.578 1.639
201803 0.950 105.708 0.987
201806 0.970 106.324 1.002
201809 0.960 106.695 0.988
201812 0.790 106.200 0.817
201903 0.690 107.818 0.703
201906 0.800 108.250 0.812
201909 1.000 108.577 1.012
201912 1.150 108.841 1.161
202003 1.160 108.173 1.178
202006 1.300 109.318 1.306
202009 0.940 109.861 0.940

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


Tyler Technologies  (NYSE:TYL) 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.

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

Shiller PE Ratio=Share Price/E10
=426.710000/2.58
=165.39

* 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 Tyler Technologies was 191.12. The lowest was 48.22. And the median was 122.30.


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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