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Steiner Leisure Ltd  (NAS:STNR) E10: $1.45 (As of Sep. 2015)

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.

Steiner Leisure Ltd's adjusted earnings per share data for the three months ended in Sep. 2015 was $-1.360. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $1.45 for the trailing ten years ended in Sep. 2015.

As of today, Steiner Leisure Ltd's current stock price is $62.73. Steiner Leisure Ltd's E10 for the quarter that ended in Sep. 2015 was $1.45. Steiner Leisure Ltd's Shiller PE Ratio of today is 43.26.


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.

Steiner Leisure Ltd Annual Data

Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.18 2.46 2.84 3.07 1.64

Steiner Leisure Ltd Quarterly Data

Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15
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 3.14 1.64 1.64 1.66 1.45

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, Steiner Leisure Ltd's adjusted earnings per share data for the three months ended in Sep. 2015 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2015 (Change)*Current CPI (Sep. 2015)
=-1.36/237.945*237.945
=-1.360

Current CPI (Sep. 2015) = 237.945.

Steiner Leisure Ltd Quarterly Data

per share eps CPI Adj_EPS
200512 0.652 196.800 0.788
200603 0.600 199.800 0.715
200606 0.610 202.900 0.715
200609 0.660 202.900 0.774
200612 0.751 201.800 0.886
200703 0.620 205.352 0.718
200706 0.670 208.352 0.765
200709 0.680 208.490 0.776
200712 0.669 210.036 0.758
200803 0.610 213.528 0.680
200806 0.680 218.815 0.739
200809 0.890 218.783 0.968
200812 0.799 210.228 0.904
200903 0.540 212.709 0.604
200906 0.560 215.693 0.618
200909 0.730 215.969 0.804
200912 0.732 215.949 0.807
201003 0.640 217.631 0.700
201006 0.660 217.965 0.720
201009 0.780 218.439 0.850
201012 0.862 219.179 0.936
201103 0.900 223.467 0.958
201106 0.870 225.722 0.917
201109 0.770 226.889 0.808
201112 0.808 225.672 0.852
201203 0.950 229.392 0.985
201206 0.920 229.478 0.954
201209 0.850 231.407 0.874
201212 0.807 229.601 0.836
201303 0.860 232.773 0.879
201306 0.830 233.504 0.846
201309 0.770 234.149 0.782
201312 0.876 233.049 0.894
201403 0.500 236.293 0.503
201406 0.570 238.343 0.569
201409 0.870 238.031 0.870
201412 -14.017 234.812 -14.204
201503 0.620 236.119 0.625
201506 0.690 238.638 0.688
201509 -1.360 237.945 -1.360

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.

Steiner Leisure Ltd's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=62.73/1.45
=43.26

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


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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