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Texas Instruments E10

: $3.17 (As of Jun. 2019)
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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.

Texas Instruments's adjusted earnings per share data for the three months ended in Jun. 2019 was $1.360. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $3.17 for the trailing ten years ended in Jun. 2019.

As of today (2019-10-20), Texas Instruments's current stock price is $129.46. Texas Instruments's E10 for the quarter that ended in Jun. 2019 was $3.17. Texas Instruments's Shiller PE Ratio of today is 40.84.

During the past 13 years, the highest Shiller PE Ratio of Texas Instruments was 47.88. The lowest was 11.76. And the median was 23.66.


Texas Instruments 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.

Texas Instruments Annual Data
Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.06 2.19 2.25 2.44 2.88

Texas Instruments Quarterly Data
Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19
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 2.66 2.79 2.88 3.03 3.17

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.


Texas Instruments E10 Distribution

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



Texas Instruments 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.

For example, Texas Instruments's adjusted earnings per share data for the three months ended in Jun. 2019 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2019 (Change)*Current CPI (Jun. 2019)
=1.36/256.143*256.143
=1.360

Current CPI (Jun. 2019) = 256.143.

Texas Instruments Quarterly Data

per share eps CPI Adj_EPS
200909 0.420 215.969 0.498
200912 0.520 215.949 0.617
201003 0.520 217.631 0.612
201006 0.620 217.965 0.729
201009 0.710 218.439 0.833
201012 0.770 219.179 0.900
201103 0.550 223.467 0.630
201106 0.560 225.722 0.635
201109 0.510 226.889 0.576
201112 0.260 225.672 0.295
201203 0.220 229.392 0.246
201206 0.380 229.478 0.424
201209 0.670 231.407 0.742
201212 0.230 229.601 0.257
201303 0.320 232.773 0.352
201306 0.580 233.504 0.636
201309 0.560 234.149 0.613
201312 0.460 233.049 0.506
201403 0.440 236.293 0.477
201406 0.620 238.343 0.666
201409 0.760 238.031 0.818
201412 0.760 234.812 0.829
201503 0.610 236.119 0.662
201506 0.650 238.638 0.698
201509 0.760 237.945 0.818
201512 0.800 236.525 0.866
201603 0.690 238.132 0.742
201606 0.790 241.018 0.840
201609 0.980 241.428 1.040
201612 1.020 241.432 1.082
201703 0.970 243.801 1.019
201706 1.030 244.955 1.077
201709 1.260 246.819 1.308
201712 0.340 246.524 0.353
201803 1.350 249.554 1.386
201806 1.400 251.989 1.423
201809 1.580 252.439 1.603
201812 1.270 251.233 1.295
201903 1.260 254.202 1.270
201906 1.360 256.143 1.360

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


Texas Instruments  (NAS:TXN) 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.

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

Shiller PE Ratio=Share Price/E10
=129.46/3.17
=40.84

* 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 Texas Instruments was 47.88. The lowest was 11.76. And the median was 23.66.


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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