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United Technologies E10

: $6.74 (As of Sep. 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 Sep. 2019 was $1.330. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $6.74 for the trailing ten years ended in Sep. 2019.

As of today (2019-11-14), United Technologies's current stock price is $148.11. United Technologies's E10 for the quarter that ended in Sep. 2019 was $6.74. United Technologies's Shiller PE Ratio of today is 21.97.

During the past 13 years, the highest Shiller PE Ratio of United Technologies was 24.64. The lowest was 11.79. And the median was 19.26.


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 5.23 5.78 6.06 6.25 6.45

United Technologies Quarterly Data
Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19
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 6.58 6.45 6.58 6.74 6.74

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 Sep. 2019 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2019 (Change)*Current CPI (Sep. 2019)
=1.33/256.358*256.358
=1.330

Current CPI (Sep. 2019) = 256.358.

United Technologies Quarterly Data

per share eps CPI Adj_EPS
200912 1.150 215.949 1.365
201003 0.930 217.631 1.095
201006 1.200 217.965 1.411
201009 1.300 218.439 1.526
201012 1.310 219.179 1.532
201103 1.110 223.467 1.273
201106 1.450 225.722 1.647
201109 1.470 226.889 1.661
201112 1.470 225.672 1.670
201203 0.360 229.392 0.402
201206 1.470 229.478 1.642
201209 1.560 231.407 1.728
201212 2.260 229.601 2.523
201303 1.390 232.773 1.531
201306 1.710 233.504 1.877
201309 1.570 234.149 1.719
201312 1.600 233.049 1.760
201403 1.320 236.293 1.432
201406 1.840 238.343 1.979
201409 2.040 238.031 2.197
201412 1.620 234.812 1.769
201503 1.580 236.119 1.715
201506 1.730 238.638 1.858
201509 1.540 237.945 1.659
201512 3.860 236.525 4.184
201603 1.420 238.132 1.529
201606 1.650 241.018 1.755
201609 1.780 241.428 1.890
201612 1.250 241.432 1.327
201703 1.730 243.801 1.819
201706 1.800 244.955 1.884
201709 1.670 246.819 1.735
201712 0.500 246.524 0.520
201803 1.620 249.554 1.664
201806 2.560 251.989 2.604
201809 1.540 252.439 1.564
201812 0.830 251.233 0.847
201903 1.560 254.202 1.573
201906 2.200 256.143 2.202
201909 1.330 256.358 1.330

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
=148.11/6.74
=21.97

* 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 11.79. And the median was 19.26.


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 Related Terms

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