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Bank of the Ozarks Inc  (NAS:OZRK) E10: $1.52 (As of Sep. 2017)

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.

Bank of the Ozarks Inc's adjusted earnings per share data for the three months ended in Sep. 2017 was $0.750. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.52 for the trailing ten years ended in Sep. 2017.

As of today, Bank of the Ozarks Inc's current stock price is $44.30. Bank of the Ozarks Inc's E10 for the quarter that ended in Sep. 2017 was $1.52. Bank of the Ozarks Inc's Shiller PE Ratio of today is 29.14.

During the past 13 years, the highest Shiller PE Ratio of Bank of the Ozarks Inc was 51.29. The lowest was 11.35. And the median was 25.55.


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.

Bank of the Ozarks Inc Annual Data

Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.72 0.82 0.92 1.08 1.30

Bank of the Ozarks Inc Quarterly Data

Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17
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 1.24 1.30 1.37 1.45 1.52

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.


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, Bank of the Ozarks Inc's adjusted earnings per share data for the three months ended in Sep. 2017 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2017 (Change)*Current CPI (Sep. 2017)
=0.75/246.819*246.819
=0.750

Current CPI (Sep. 2017) = 246.819.

Bank of the Ozarks Inc Quarterly Data

per share eps CPI Adj_EPS
200712 0.115 210.036 0.135
200803 0.115 213.528 0.133
200806 0.128 218.815 0.144
200809 0.133 218.783 0.150
200812 0.135 210.228 0.158
200903 0.138 212.709 0.160
200906 0.140 215.693 0.160
200909 0.125 215.969 0.143
200912 0.143 215.949 0.163
201003 0.235 217.631 0.267
201006 0.160 217.965 0.181
201009 0.295 218.439 0.333
201012 0.250 219.179 0.282
201103 0.215 223.467 0.237
201106 0.730 225.722 0.798
201109 0.275 226.889 0.299
201112 0.255 225.672 0.279
201203 0.260 229.392 0.280
201206 0.275 229.478 0.296
201209 0.275 231.407 0.293
201212 0.290 229.601 0.312
201303 0.280 232.773 0.297
201306 0.290 233.504 0.307
201309 0.360 234.149 0.379
201312 0.330 233.049 0.349
201403 0.340 236.293 0.355
201406 0.340 238.343 0.352
201409 0.400 238.031 0.415
201412 0.440 234.812 0.462
201503 0.470 236.119 0.491
201506 0.510 238.638 0.527
201509 0.520 237.945 0.539
201512 0.580 236.525 0.605
201603 0.570 238.132 0.591
201606 0.600 241.018 0.614
201609 0.660 241.428 0.675
201612 0.740 241.432 0.757
201703 0.730 243.801 0.739
201706 0.730 244.955 0.736
201709 0.750 246.819 0.750

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

Bank of the Ozarks Inc's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=44.30/1.52
=29.14

* 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 Bank of the Ozarks Inc was 51.29. The lowest was 11.35. And the median was 25.55.


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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