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Staples Inc  (NAS:SPLS) E10: \$0.43 (As of Jul. 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.

Staples Inc's adjusted earnings per share data for the three months ended in Jul. 2017 was \$0.080. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is \$0.43 for the trailing ten years ended in Jul. 2017.

As of today, Staples Inc's current stock price is \$10.25. Staples Inc's E10 for the quarter that ended in Jul. 2017 was \$0.43. Staples Inc's Shiller PE Ratio of today is 23.84.

During the past 13 years, the highest Shiller PE Ratio of Staples Inc was 44.93. The lowest was 8.44. And the median was 15.78.

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Staples Inc Annual Data

 Jan08 Jan09 Jan10 Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 E10 1.08 1.12 1.03 0.97 0.61

Staples Inc Quarterly Data

 Oct12 Jan13 Apr13 Jul13 Oct13 Jan14 Apr14 Jul14 Oct14 Jan15 Apr15 Jul15 Oct15 Jan16 Apr16 Jul16 Oct16 Jan17 Apr17 Jul17 E10 0.82 0.80 0.61 0.45 0.43

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, Staples Inc's adjusted earnings per share data for the three months ended in Jul. 2017 was:

 Adj_EPS = Earnings per Share (Diluted) / CPI of Jul. 2017 (Change) * Current CPI (Jul. 2017) = 0.08 / 244.786 * 244.786 = 0.080

Current CPI (Jul. 2017) = 244.786.

Staples Inc Quarterly Data

 per share eps CPI Adj_EPS 200710 0.380 208.936 0.445 200801 0.460 211.080 0.533 200804 0.300 214.823 0.342 200807 0.210 219.964 0.234 200810 0.220 216.573 0.249 200901 0.400 211.143 0.464 200904 0.200 213.240 0.230 200907 0.130 215.351 0.148 200910 0.370 216.177 0.419 201001 0.320 216.687 0.361 201004 0.260 218.009 0.292 201007 0.180 218.011 0.202 201010 0.400 218.711 0.448 201101 0.380 220.223 0.422 201104 0.280 224.906 0.305 201107 0.250 225.922 0.271 201110 0.470 226.421 0.508 201201 0.410 226.665 0.443 201204 0.270 230.085 0.287 201207 0.180 229.104 0.192 201210 -0.890 231.317 -0.942 201301 0.120 230.280 0.128 201304 0.260 232.531 0.274 201307 0.160 233.596 0.168 201310 0.210 233.546 0.220 201401 0.320 233.916 0.335 201404 0.150 237.072 0.155 201407 0.130 238.250 0.134 201410 0.340 237.433 0.351 201501 -0.410 233.707 -0.429 201504 0.090 236.599 0.093 201507 0.060 238.654 0.062 201510 0.310 237.838 0.319 201601 0.130 236.916 0.134 201604 0.060 239.261 0.061 201607 -1.180 240.628 -1.200 201610 0.270 241.729 0.273 201701 -1.470 242.839 -1.482 201704 -1.250 244.524 -1.251 201707 0.080 244.786 0.080

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.

Staples Inc's Shiller P/E Ratio of today is calculated as

 Shiller PE Ratio = Share Price / E10 = 10.25 / 0.43 = 23.84

* 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 Staples Inc was 44.93. The lowest was 8.44. And the median was 15.78.

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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