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Texas Instruments E10

: $3.33 (As of Dec. 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 Dec. 2019 was $1.120. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $3.33 for the trailing ten years ended in Dec. 2019.

As of today (2020-03-31), Texas Instruments's current stock price is $99.78. Texas Instruments's E10 for the quarter that ended in Dec. 2019 was $3.33. Texas Instruments's Shiller PE Ratio of today is 29.96.

During the past 13 years, the highest Shiller PE Ratio of Texas Instruments was 47.69. The lowest was 15.77. And the median was 24.47.


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
Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.18 2.24 2.45 2.89 3.33

Texas Instruments Quarterly Data
Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19
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 2.89 3.04 3.18 3.28 3.33

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 Dec. 2019 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2019 (Change)*Current CPI (Dec. 2019)
=1.12/257.14*257.14
=1.120

Current CPI (Dec. 2019) = 257.14.

Texas Instruments Quarterly Data

per share eps CPI Adj_EPS
201003 0.520 217.630 0.614
201006 0.620 217.970 0.731
201009 0.710 218.440 0.836
201012 0.770 219.180 0.903
201103 0.550 223.470 0.633
201106 0.560 225.720 0.638
201109 0.510 226.890 0.578
201112 0.260 225.670 0.296
201203 0.220 229.390 0.247
201206 0.380 229.480 0.426
201209 0.670 231.410 0.744
201212 0.230 229.600 0.258
201303 0.320 232.770 0.354
201306 0.580 233.500 0.639
201309 0.560 234.150 0.615
201312 0.460 233.050 0.508
201403 0.440 236.290 0.479
201406 0.620 238.340 0.669
201409 0.760 238.030 0.821
201412 0.760 234.810 0.832
201503 0.610 236.120 0.664
201506 0.650 238.640 0.700
201509 0.760 237.940 0.821
201512 0.800 236.530 0.870
201603 0.690 238.130 0.745
201606 0.790 241.020 0.843
201609 0.980 241.430 1.044
201612 1.020 241.430 1.086
201703 0.970 243.800 1.023
201706 1.030 244.960 1.081
201709 1.260 246.820 1.313
201712 0.340 246.520 0.355
201803 1.350 249.550 1.391
201806 1.400 251.990 1.429
201809 1.580 252.440 1.609
201812 1.270 251.230 1.300
201903 1.260 254.200 1.275
201906 1.360 256.140 1.365
201909 1.490 256.760 1.492
201912 1.120 257.140 1.120

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
=99.78/3.33
=29.96

* 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 47.69. The lowest was 15.77. And the median was 24.47.


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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