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AT&T E10

: $2.13 (As of Dec. 2020)
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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.

AT&T's adjusted earnings per share data for the three months ended in Dec. 2020 was $-1.950. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.13 for the trailing ten years ended in Dec. 2020.

As of today (2021-02-28), AT&T's current stock price is $27.890000. AT&T's E10 for the quarter that ended in Dec. 2020 was $2.13. AT&T's Shiller PE Ratio of today is 13.09.

During the past 13 years, the highest Shiller PE Ratio of AT&T was 19.58. The lowest was 10.68. And the median was 15.00.


AT&T E10 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.

AT&T Annual Data
Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.21 2.50 2.57 2.57 2.13

AT&T Quarterly Data
Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20
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 2.57 2.57 2.54 2.34 2.13

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.


AT&T E10 Distribution

* The bar in red indicates where AT&T's E10 falls into.



AT&T 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, AT&T's adjusted earnings per share data for the three months ended in Dec. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2020 (Change)*Current CPI (Dec. 2020)
=-1.95/109.8968*109.8968
=-1.950

Current CPI (Dec. 2020) = 109.8968.

AT&T Quarterly Data

per share eps CPI Adj_EPS
201103 0.570 94.890 0.660
201106 0.600 95.319 0.692
201109 0.610 95.529 0.702
201112 -1.120 95.632 -1.287
201203 0.600 97.075 0.679
201206 0.660 96.661 0.750
201209 0.630 97.595 0.709
201212 -0.680 97.158 -0.769
201303 0.670 98.107 0.751
201306 0.710 98.557 0.792
201309 0.720 98.536 0.803
201312 1.310 98.692 1.459
201403 0.700 100.023 0.769
201406 0.680 100.520 0.743
201409 0.600 100.176 0.658
201412 -0.770 98.604 -0.858
201503 0.630 99.824 0.694
201506 0.590 100.691 0.644
201509 0.500 100.346 0.548
201512 0.650 99.957 0.715
201603 0.610 100.947 0.664
201606 0.550 101.524 0.595
201609 0.540 101.988 0.582
201612 0.390 102.456 0.418
201703 0.560 103.167 0.597
201706 0.630 103.278 0.670
201709 0.490 104.070 0.517
201712 3.080 104.578 3.237
201803 0.750 105.708 0.780
201806 0.810 106.324 0.837
201809 0.650 106.695 0.670
201812 0.660 106.200 0.683
201903 0.560 107.818 0.571
201906 0.510 108.250 0.518
201909 0.500 108.577 0.506
201912 0.330 108.841 0.333
202003 0.630 108.173 0.640
202006 0.170 109.318 0.171
202009 0.390 109.861 0.390
202012 -1.950 109.897 -1.950

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


AT&T  (NYSE:T) 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.

AT&T's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=27.890000/2.13
=13.09

* 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 AT&T was 19.58. The lowest was 10.68. And the median was 15.00.


Be Aware

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


AT&T E10 Related Terms


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