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The Bancorp Inc  (NAS:TBBK) E10: $-0.46 (As of Sep. 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.

The Bancorp Inc's adjusted earnings per share data for the three months ended in Sep. 2017 was $0.130. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $-0.46 for the trailing ten years ended in Sep. 2017.

As of today, The Bancorp Inc's current stock price is $10.08. The Bancorp Inc's E10 for the quarter that ended in Sep. 2017 was $-0.46. The Bancorp Inc's Shiller PE Ratio of today is .

During the past 13 years, the highest Shiller PE Ratio of The Bancorp Inc was 544.00. The lowest was 0.00. And the median was 93.33.


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.

The Bancorp Inc Annual Data

Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 -0.20 -0.05 -0.08 -0.42

The Bancorp Inc Quarterly Data

Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17
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 -0.34 -0.42 -0.44 -0.44 -0.46

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, The Bancorp Inc's adjusted earnings per share data for the three months ended in Sep. 2017 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2017 (Change)*Current CPI (Sep. 2017)
=0.13/246.819*246.819
=0.130

Current CPI (Sep. 2017) = 246.819.

The Bancorp Inc Quarterly Data

per share eps CPI Adj_EPS
200712 0.200 210.036 0.235
200803 0.190 213.528 0.220
200806 -0.290 218.815 -0.327
200809 0.020 218.783 0.023
200812 -2.850 210.228 -3.346
200903 0.030 212.709 0.035
200906 0.010 215.693 0.011
200909 0.040 215.969 0.046
200912 -0.060 215.949 -0.069
201003 -0.150 217.631 -0.170
201006 0.020 217.965 0.023
201009 0.020 218.439 0.023
201012 0.080 219.179 0.090
201103 0.100 223.467 0.110
201106 0.020 225.722 0.022
201109 0.069 226.889 0.075
201112 0.100 225.672 0.109
201203 0.120 229.392 0.129
201206 0.120 229.478 0.129
201209 0.110 231.407 0.117
201212 -1.640 229.601 -1.763
201303 0.200 232.773 0.212
201306 0.150 233.504 0.159
201309 0.130 234.149 0.137
201312 -0.870 233.049 -0.921
201403 0.040 236.293 0.042
201406 0.270 238.343 0.280
201409 0.660 238.031 0.684
201412 0.530 234.812 0.557
201503 0.000 236.119 0.000
201506 0.000 238.638 0.000
201509 -0.150 237.945 -0.156
201512 0.490 236.525 0.511
201603 -0.290 238.132 -0.301
201606 -0.830 241.018 -0.850
201609 -0.540 241.428 -0.552
201612 -0.520 241.432 -0.532
201703 0.140 243.801 0.142
201706 0.340 244.955 0.343
201709 0.130 246.819 0.130

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.

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

Shiller PE Ratio=Share Price/E10
=10.08/-0.46
=

* 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 The Bancorp Inc was 544.00. The lowest was 0.00. And the median was 93.33.


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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