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Target E10

: $4.29 (As of Apr. 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.

Target's adjusted earnings per share data for the three months ended in Apr. 2020 was $0.560. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $4.29 for the trailing ten years ended in Apr. 2020.

As of today (2020-07-16), Target's current stock price is $121.51. Target's E10 for the quarter that ended in Apr. 2020 was $4.29. Target's Shiller PE Ratio of today is 28.32.

During the past 13 years, the highest Shiller PE Ratio of Target was 29.84. The lowest was 14.07. And the median was 18.29.


Target 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.

Target Annual Data
Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 Jan20
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.36 3.54 3.76 4.04 4.37

Target Quarterly Data
Jul15 Oct15 Jan16 Apr16 Jul16 Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20
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 4.16 4.25 4.33 4.37 4.29

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.


Target E10 Distribution

* The bar in red indicates where Target's E10 falls into.



Target 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, Target's adjusted earnings per share data for the three months ended in Apr. 2020 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Apr. 2020 (Change)*Current CPI (Apr. 2020)
=0.56/108.1754*108.1754
=0.560

Current CPI (Apr. 2020) = 108.1754.

Target Quarterly Data

per share eps CPI Adj_EPS
201007 0.920 92.108 1.080
201010 0.740 92.315 0.867
201101 1.430 93.373 1.657
201104 0.990 95.337 1.123
201107 1.030 95.582 1.166
201110 0.820 95.449 0.929
201201 1.440 96.053 1.622
201204 1.040 96.961 1.160
201207 1.060 97.199 1.180
201210 0.960 97.133 1.069
201301 1.470 97.953 1.623
201304 0.770 98.282 0.848
201307 0.950 98.675 1.041
201310 0.540 98.334 0.594
201401 0.810 99.057 0.885
201404 0.660 100.373 0.711
201407 0.370 100.352 0.399
201410 0.550 99.635 0.597
201501 -4.140 99.032 -4.522
201504 0.980 100.333 1.057
201507 1.180 100.548 1.270
201510 0.870 100.135 0.940
201601 2.320 100.040 2.509
201604 1.050 101.355 1.121
201607 1.160 101.617 1.235
201610 1.060 101.829 1.126
201701 1.450 102.779 1.526
201704 1.220 103.256 1.278
201707 1.220 103.587 1.274
201710 0.870 104.072 0.904
201801 2.020 105.052 2.080
201804 1.330 106.148 1.355
201807 1.490 106.383 1.515
201810 1.170 106.338 1.190
201901 1.520 106.649 1.542
201904 1.530 108.048 1.532
201907 1.820 108.245 1.819
201910 1.390 108.519 1.386
202001 1.630 109.139 1.616
202004 0.560 108.175 0.560

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


Target  (NYSE:TGT) 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.

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

Shiller PE Ratio=Share Price/E10
=121.51/4.29
=28.32

* 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 Target was 29.84. The lowest was 14.07. And the median was 18.29.


Be Aware

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


Target E10 Related Terms


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