PG&E (NYSE:PCG) E10

: $-2.12 (As of Jun. 2023)

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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.

PG&E's adjusted earnings per share data for the three months ended in Jun. 2023 was $0.190. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $-2.12 for the trailing ten years ended in Jun. 2023.

During the past 3 years, the average E10 Growth Rate was -42.80% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of PG&E was 46.60% per year. The lowest was -42.80% per year. And the median was 0.50% per year.

As of today (2023-09-28), PG&E's current stock price is $16.395. PG&E's E10 for the quarter that ended in Jun. 2023 was $-2.12. PG&E's Shiller PE Ratio of today is .

During the past 13 years, the highest Shiller PE Ratio of PG&E was 112.40. The lowest was 6.34. And the median was 18.98.

PG&E E10 Historical Data

The historical data trend for PG&E's E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

PG&E Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

E10

1.14

-0.67

-1.32

-1.68

-1.95

PG&E Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
E10																-1.89	-1.98	-1.95	-2.02	-2.12

PG&E 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, PG&E's adjusted earnings per share data for the three months ended in Jun. 2023 was:

Adj_EPS	=	Earnings per Share (Diluted)	/	CPI of Jun. 2023 (Change)	*	Current CPI (Jun. 2023)
	=	0.19	/	128.7287	*	128.7287
	=	0.190

Current CPI (Jun. 2023) = 128.7287.

PG&E Quarterly Data

	per share eps	CPI	Adj_EPS
201309	0.360	98.790	0.469
201312	0.180	98.326	0.236
201403	0.490	99.695	0.633
201406	0.570	100.560	0.730
201409	1.710	100.428	2.192
201412	0.270	99.070	0.351
201503	0.060	99.621	0.078
201506	0.830	100.684	1.061
201509	0.630	100.392	0.808
201512	0.260	99.792	0.335
201603	0.220	100.470	0.282
201606	0.410	101.688	0.519
201609	0.770	101.861	0.973
201612	1.380	101.863	1.744
201703	1.130	102.862	1.414
201706	0.790	103.349	0.984
201709	1.070	104.136	1.323
201712	0.210	104.011	0.260
201803	0.860	105.290	1.051
201806	-1.910	106.317	-2.313
201809	1.090	106.507	1.317
201812	-13.290	105.998	-16.140
201903	0.250	107.251	0.300
201906	-4.830	108.070	-5.753
201909	-3.060	108.329	-3.636
201912	-6.850	108.420	-8.133
202003	0.570	108.902	0.674
202006	-3.730	108.767	-4.415
202009	0.040	109.815	0.047
202012	0.101	109.897	0.118
202103	0.060	111.754	0.069
202106	0.180	114.631	0.202
202109	-0.550	115.734	-0.612
202112	0.240	117.630	0.263
202203	0.220	121.301	0.233
202206	0.170	125.017	0.175
202209	0.210	125.227	0.216
202212	0.240	125.222	0.247
202303	0.270	127.348	0.273
202306	0.190	128.729	0.190

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

PG&E (NYSE:PCG) 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.

During the past 13 years, the highest Shiller P/E Ratio of PG&E was 112.40. The lowest was 6.34. And the median was 18.98.

Be Aware

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

PG&E E10 Related Terms

Thank you for viewing the detailed overview of PG&E's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.

PG&E (NYSE:PCG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » PG&E Corp (NYSE:PCG) » Definitions » E10

Comparable Companies

Traded in Other Exchanges

PCG:Mexico PCG:Germany

Address

300 Lakeside Drive, Oakland, CA, USA, 94612

Website

https://www.pgecorp.com

PG&E is a holding company whose main subsidiary is Pacific Gas and Electric, a regulated utility operating in Central and Northern California that serves 5.3 million electricity customers and 4.6 million gas customers in 47 of the state's 58 counties. PG&E operated under bankruptcy court supervision between January 2019 and June 2020. In 2004, PG&E sold its unregulated assets as part of an earlier postbankruptcy reorganization.

Executives

Carolyn Jeanne Burke	officer: EVP Finance	C/O EXCELERATE ENERGY, INC., 2445 TECHNOLOGY FOREST BLVD., LEVEL 6, THE WOODLANDS TX 77381
Edward G Cannizzaro	director	5130 HACIENDA DRIVE, DUBLIN CA 94568
Stephanie N Williams	officer: VP and Controller	77 BEALE STREET, PO BOX 77000, SAN FRANCISCO CA 94177
Cheryl F. Campbell	director	C/O 77 BEALE ST., P.O. BOX 770000, SAN FRANCISCO CA 94177
William Lloyd Smith	director	46429 LANDING PARKWAY, FREMONT CA 94538
Marlene Santos	other: EVP, CCO at PG&E Company	77 BEALE STREET, P.O. BOX 770000, SAN FRANCISCO CA 94117
Carlos M Hernandez	director
Adam L Wright	other: EVP, Ops & COO at PG&E Company	77 BEALE STREET, P.O. BOX 770000, SAN FRANCISCO CA 94177
Ajay Waghray	officer: SVP & Chf Information Ofc	C/O ASSURANT, INC., 28 LIBERTY STREET, 41 FL., NEW YORK NY 1
Julius Cox	officer: EVP/Ppl, Shrd Svcs & Spply Chn	77 BEALE STREET, POB 770000, SAN FRANCISCO CA 94177
Sumeet Singh	officer: EVP/CRO & Chf Safety Ofc	77 BEALE STREET, PO BOX 770000, SAN FRANCISCO CA 94177
Carla J Peterman	officer: EVP/Corp. Affairs & CSO	77 BEALE STREET, P.O. BOX 77000, SAN FRANCISCO CA 94177
Patricia K Poppe	director, officer: Chief Executive Officer	77 BEALE STREET, POB 770000, SAN FRANCISCO CA 94177
Christopher A Foster	officer: EVP & Chief Financial Officer	77 BEALE ST., P.O. BOX 770000, SAN FRANCISCO CA 94177
Jason M Glickman	other: EVP of EPS of PG&E Company	77 BEALE STREET, PO BOX 770000, SAN FRANCISCO CA 94177