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Banco BTG Pactual S.A. (BSP:BPAC3) E10 : R$0.55 (As of Dec. 2023)


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What is Banco BTG Pactual S.A. E10?

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.

Banco BTG Pactual S.A.'s adjusted earnings per share data for the three months ended in Dec. 2023 was R$0.238. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is R$0.55 for the trailing ten years ended in Dec. 2023.

During the past 12 months, Banco BTG Pactual S.A.'s average E10 Growth Rate was -34.50% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

As of today (2024-05-17), Banco BTG Pactual S.A.'s current stock price is R$17.43. Banco BTG Pactual S.A.'s E10 for the quarter that ended in Dec. 2023 was R$0.55. Banco BTG Pactual S.A.'s Shiller PE Ratio of today is 31.69.

During the past 13 years, the highest Shiller PE Ratio of Banco BTG Pactual S.A. was 34.00. The lowest was 11.76. And the median was 27.23.


Banco BTG Pactual S.A. E10 Historical Data

The historical data trend for Banco BTG Pactual S.A.'s E10 can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Banco BTG Pactual S.A. E10 Chart

Banco BTG Pactual S.A. Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - 0.84 0.55

Banco BTG Pactual S.A. Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
E10 Get a 7-Day Free Trial 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 0.84 0.81 0.51 0.53 0.55

Competitive Comparison of Banco BTG Pactual S.A.'s E10

For the Capital Markets subindustry, Banco BTG Pactual S.A.'s Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* 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. Note that "N/A" values will not show up in the chart.


Banco BTG Pactual S.A.'s Shiller PE Ratio Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Banco BTG Pactual S.A.'s Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Banco BTG Pactual S.A.'s Shiller PE Ratio falls into.



Banco BTG Pactual S.A. 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, Banco BTG Pactual S.A.'s adjusted earnings per share data for the three months ended in Dec. 2023 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=0.238/157.1481*157.1481
=0.238

Current CPI (Dec. 2023) = 157.1481.

Banco BTG Pactual S.A. Quarterly Data

per share eps CPI Adj_EPS
201206 0.082 80.803 0.159
201209 0.039 81.948 0.075
201212 0.076 83.581 0.143
201306 0.098 86.214 0.179
201312 0.000 88.522 0.000
201406 0.000 91.838 0.000
201412 0.000 94.194 0.000
201506 0.000 100.006 0.000
201512 0.000 104.247 0.000
201603 0.090 106.979 0.132
201606 0.265 108.851 0.383
201612 0.000 110.802 0.000
201703 0.063 111.869 0.088
201706 0.044 112.115 0.062
201709 0.044 112.777 0.061
201712 0.058 114.068 0.080
201803 0.054 114.868 0.074
201806 0.054 117.038 0.073
201809 0.051 117.881 0.068
201812 -0.049 118.340 -0.065
201903 0.063 120.124 0.082
201906 0.092 120.977 0.120
201909 0.094 121.292 0.122
201912 0.110 123.436 0.140
202003 0.072 124.092 0.091
202006 0.093 123.557 0.118
202009 0.090 125.095 0.113
202012 0.130 129.012 0.158
202103 0.100 131.660 0.119
202106 0.145 133.871 0.170
202109 0.150 137.913 0.171
202112 0.152 141.992 0.168
202203 0.169 146.537 0.181
202206 0.179 149.784 0.188
202209 0.190 147.800 0.202
202212 0.143 150.207 0.150
202303 0.185 153.352 0.190
202306 0.212 154.519 0.216
202309 0.229 155.464 0.231
202312 0.238 157.148 0.238

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


Banco BTG Pactual S.A.  (BSP:BPAC3) 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.

Banco BTG Pactual S.A.'s Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=17.43/0.55
=31.69

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Shiller P/E Ratio of Banco BTG Pactual S.A. was 34.00. The lowest was 11.76. And the median was 27.23.


Be Aware

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


Banco BTG Pactual S.A. E10 Related Terms

Thank you for viewing the detailed overview of Banco BTG Pactual S.A.'s E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Banco BTG Pactual S.A. (BSP:BPAC3) Business Description

Traded in Other Exchanges
Address
Avenue Brigadeiro Faria Lima, 14th Floor, Sao Paulo, SP, BRA, 3477
Banco BTG Pactual S.A. is a Brazil-based banking firm. The core activities of the company involve investment banking and investment management activities. It also provides corporate lending, brokerage service, commercial, consumer, and merchant banking services. Banco BTG is one of the largest asset management firms in Latin America and has a foreign presence in countries like Mexico, the United Kingdom and the United States. Its product portfolio includes instruments like fixed income, equity, and hedge funds.

Banco BTG Pactual S.A. (BSP:BPAC3) Headlines

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