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United Technologies E10

: USD 6.59 (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.

United Technologies's adjusted earnings per share data for the three months ended in Mar. 2019 was USD 1.560. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is USD 6.59 for the trailing ten years ended in Mar. 2019.

As of today, United Technologies's current stock price is USD 130.45. United Technologies's E10 for the quarter that ended in Mar. 2019 was USD 6.59. United Technologies's Shiller PE Ratio of today is 19.80.

During the past 13 years, the highest Shiller PE Ratio of United Technologies was 24.64. The lowest was 11.86. And the median was 19.18.


United 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.

United Technologies Annual Data

Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.24 5.79 6.07 6.25 6.46

United Technologies 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 6.36 6.52 6.53 6.46 6.59

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.


United Technologies E10 Distribution

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



United 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.

For example, United Technologies'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)
=1.56/254.202*254.202
=1.560

Current CPI (Mar. 2019) = 254.202.

United Technologies Quarterly Data

per share eps CPI Adj_EPS
200906 1.050 215.693 1.237
200909 1.140 215.969 1.342
200912 1.150 215.949 1.354
201003 0.930 217.631 1.086
201006 1.200 217.965 1.400
201009 1.300 218.439 1.513
201012 1.310 219.179 1.519
201103 1.110 223.467 1.263
201106 1.450 225.722 1.633
201109 1.470 226.889 1.647
201112 1.470 225.672 1.656
201203 0.360 229.392 0.399
201206 1.470 229.478 1.628
201209 1.560 231.407 1.714
201212 2.260 229.601 2.502
201303 1.390 232.773 1.518
201306 1.710 233.504 1.862
201309 1.570 234.149 1.704
201312 1.600 233.049 1.745
201403 1.320 236.293 1.420
201406 1.840 238.343 1.962
201409 2.040 238.031 2.179
201412 1.620 234.812 1.754
201503 1.580 236.119 1.701
201506 1.730 238.638 1.843
201509 1.540 237.945 1.645
201512 3.860 236.525 4.148
201603 1.420 238.132 1.516
201606 1.650 241.018 1.740
201609 1.780 241.428 1.874
201612 1.250 241.432 1.316
201703 1.730 243.801 1.804
201706 1.800 244.955 1.868
201709 1.670 246.819 1.720
201712 0.500 246.524 0.516
201803 1.620 249.554 1.650
201806 2.560 251.989 2.582
201809 1.540 252.439 1.551
201812 0.830 251.233 0.840
201903 1.560 254.202 1.560

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


United Technologies  (NYSE:UTX) 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.

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

Shiller PE Ratio=Share Price/E10
=130.45/6.59
=19.80

* 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 United Technologies was 24.64. The lowest was 11.86. And the median was 19.18.


Be Aware

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


United Technologies E10 Explanation


United Technologies E10 Headlines

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