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Universal Health Realty Income Trust  (NYSE:UHT) E10: $2.42 (As of Jun. 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.

Universal Health Realty Income Trust's adjusted earnings per share data for the three months ended in Jun. 2017 was $0.300. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $2.42 for the trailing ten years ended in Jun. 2017.

As of today, Universal Health Realty Income Trust's current stock price is $77.86. Universal Health Realty Income Trust's E10 for the quarter that ended in Jun. 2017 was $2.42. Universal Health Realty Income Trust's Shiller PE Ratio of today is 32.17.

During the past 13 years, the highest Shiller PE Ratio of Universal Health Realty Income Trust was 34.47. The lowest was 11.28. And the median was 17.82.


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.

Universal Health Realty Income Trust 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 2.44 2.31 2.48 2.42 2.25

Universal Health Realty Income Trust Quarterly Data

Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17
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 2.41 2.29 2.25 2.44 2.42

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, Universal Health Realty Income Trust's adjusted earnings per share data for the three months ended in Jun. 2017 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Jun. 2017 (Change)*Current CPI (Jun. 2017)
=0.3/244.955*244.955
=0.300

Current CPI (Jun. 2017) = 244.955.

Universal Health Realty Income Trust Quarterly Data

per share eps CPI Adj_EPS
200709 0.370 208.490 0.435
200712 0.330 210.036 0.385
200803 0.350 213.528 0.402
200806 0.350 218.815 0.392
200809 0.350 218.783 0.392
200812 -0.080 210.228 -0.093
200903 0.390 212.709 0.449
200906 0.400 215.693 0.454
200909 0.380 215.969 0.431
200912 0.380 215.949 0.431
201003 0.370 217.631 0.416
201006 0.350 217.965 0.393
201009 0.270 218.439 0.303
201012 0.330 219.179 0.369
201103 0.330 223.467 0.362
201106 0.290 225.722 0.315
201109 0.260 226.889 0.281
201112 4.950 225.672 5.373
201203 0.750 229.392 0.801
201206 0.190 229.478 0.203
201209 0.240 231.407 0.254
201212 0.360 229.601 0.384
201303 0.270 232.773 0.284
201306 0.230 233.504 0.241
201309 0.260 234.149 0.272
201312 0.280 233.049 0.294
201403 0.290 236.293 0.301
201406 0.260 238.343 0.267
201409 2.180 238.031 2.243
201412 1.250 234.812 1.304
201503 0.280 236.119 0.290
201506 0.900 238.638 0.924
201509 0.270 237.945 0.278
201512 0.320 236.525 0.331
201603 0.330 238.132 0.339
201606 0.340 241.018 0.346
201609 0.280 241.428 0.284
201612 0.330 241.432 0.335
201703 2.320 243.801 2.331
201706 0.300 244.955 0.300

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.

Universal Health Realty Income Trust's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=77.86/2.42
=32.17

* 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 Universal Health Realty Income Trust was 34.47. The lowest was 11.28. And the median was 17.82.


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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