GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Phillips 66 (NYSE:PSX) » Definitions » E10

PSX (Phillips 66) E10 : $8.77 (As of Mar. 2025)


View and export this data going back to 2012. Start your Free Trial

What is Phillips 66 E10?

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.

Phillips 66's adjusted earnings per share data for the three months ended in Mar. 2025 was $1.180. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $8.77 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Phillips 66's average E10 Growth Rate was -3.80% per year. During the past 3 years, the average E10 Growth Rate was 12.10% 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 Phillips 66 was 12.50% per year. The lowest was 12.10% per year. And the median was 12.30% per year.

As of today (2025-07-14), Phillips 66's current stock price is $131.71. Phillips 66's E10 for the quarter that ended in Mar. 2025 was $8.77. Phillips 66's Shiller PE Ratio of today is 15.02.

During the past 13 years, the highest Shiller PE Ratio of Phillips 66 was 18.72. The lowest was 7.09. And the median was 13.09.


Phillips 66 E10 Historical Data

The historical data trend for Phillips 66'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.

Phillips 66 E10 Chart

Phillips 66 Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.41 6.23 8.09 9.13 8.78

Phillips 66 Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
E10 Get a 7-Day Free Trial 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 9.12 9.21 9.05 8.78 8.77

Competitive Comparison of Phillips 66's E10

For the Oil & Gas Refining & Marketing subindustry, Phillips 66's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* 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. Note that "N/A" values will not show up in the chart.


Phillips 66's Shiller PE Ratio Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Phillips 66's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Phillips 66's Shiller PE Ratio falls into.


;
;

Phillips 66 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, Phillips 66's adjusted earnings per share data for the three months ended in Mar. 2025 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=1.18/134.9266*134.9266
=1.180

Current CPI (Mar. 2025) = 134.9266.

Phillips 66 Quarterly Data

per share eps CPI Adj_EPS
201506 1.840 100.684 2.466
201509 2.900 100.392 3.898
201512 1.200 99.792 1.622
201603 0.720 100.470 0.967
201606 0.930 101.688 1.234
201609 0.960 101.861 1.272
201612 0.310 101.863 0.411
201703 1.020 102.862 1.338
201706 1.060 103.349 1.384
201709 1.600 104.136 2.073
201712 6.250 104.011 8.108
201803 1.070 105.290 1.371
201806 2.840 106.317 3.604
201809 3.180 106.507 4.029
201812 4.820 105.998 6.135
201903 0.440 107.251 0.554
201906 3.120 108.070 3.895
201909 1.580 108.329 1.968
201912 1.640 108.420 2.041
202003 -5.660 108.902 -7.013
202006 -0.330 108.767 -0.409
202009 -1.820 109.815 -2.236
202012 -1.230 109.897 -1.510
202103 -1.490 111.754 -1.799
202106 0.660 114.631 0.777
202109 0.910 115.734 1.061
202112 2.880 117.630 3.303
202203 1.290 121.301 1.435
202206 6.530 125.017 7.048
202209 11.160 125.227 12.024
202212 3.970 125.222 4.278
202303 4.200 127.348 4.450
202306 3.720 128.729 3.899
202309 4.690 129.860 4.873
202312 2.860 129.419 2.982
202403 1.730 131.776 1.771
202406 2.380 132.554 2.423
202409 0.820 133.029 0.832
202412 0.010 133.157 0.010
202503 1.180 134.927 1.180

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


Phillips 66  (NYSE:PSX) 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.

Phillips 66's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=131.71/8.77
=15.02

* 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.

During the past 13 years, the highest Shiller P/E Ratio of Phillips 66 was 18.72. The lowest was 7.09. And the median was 13.09.


Be Aware

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


Phillips 66 E10 Related Terms

Thank you for viewing the detailed overview of Phillips 66's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Phillips 66 Business Description

Traded in Other Exchanges
Address
2331 CityWest Boulevard, Houston, TX, USA, 77042
Phillips 66 is an independent refiner that owns or holds interest in 11 refineries with a total crude throughput capacity of 1.8 million barrels per day, or mmb/d, at the end of 2024. The midstream segment comprises extensive transportation and NGL processing assets. It includes 70,000 miles of crude oil, refined petroleum product, NGL and natural gas pipeline systems, and a comprehensive set of refined petroleum product, NGL and crude oil terminals, gathering and processing plants and fractionation facilities and various other storage and loading facilities. Its CPChem chemical joint venture operates facilities primarily in the United States and the Middle East and produces olefins and polyolefins.
Executives
Kevin J Mitchell officer: Exec. VP, Finance and CFO 3010 BRIARPARK DRIVE, HOUSTON TX 77042
Timothy D. Roberts officer: Executive Vice President C/O PHILLIPS 66 PARTNERS LP, 3010 BRIARPARK DRIVE, HOUSTON TX 77042
Joseph Scott Pruitt officer: Vice President and Controller 2331 CITYWEST BLVD., HOUSTON TX 77042
Richard G Harbison officer: Senior VP, Refining 2331 CITYWEST BLVD., HOUSTON TX 77042
Zhanna Golodryga officer: Executive Vice President PO BOX 10247, BIRMINGHAM AL 35202-0247
Vanessa Allen Sutherland officer: EVP, GC and Secretary 650 W PEACHTREE ST NW, ATLANTA GA 30308
Greg C. Garland officer: Chairman, Pres. and CEO-Desig 2331 CITYWEST BLVD., HOUSTON TX 77042
Brian Mandell officer: Senior Vice President 370 17TH STREET, SUITE 2500, DENVER CO 80202
Gregory Hayes director 870 WINTER STREET, WALTHAM MA 02451
Paula Ann Johnson officer: SVP, Gen Counsel & Sec (Desig) 600 N. DAIRY ASHFORD, HOUSTON TX 77079
Robert A Herman officer: Executive Vice President 3010 BRIARPARK DRIVE, 9TH FLOOR, HOUSTON TX 77042
Douglas T Terreson director 2331 CITYWEST BLVD., HOUSTON TX 77042
Denise R Singleton director 3100 SANDERS ROAD, SUITE 301, NORTHBROOK IL 60062
Mark E Lashier officer: President and COO 2331 CITYWEST BLVD., HOUSTON TX 77042
Charles M Holley director