Enhanced cost-per-click (eCPC) helps you get more conversions from manual bidding. eCPC works by automatically adjusting your manual bids for clicks that seem more or less likely to lead to a sale or conversion on your website.
Unlike Target CPA and Target ROAS, which automatically set bids based on your cost per conversion and return-on-ad-spend targets, eCPC will try to keep your average CPC below the max CPC you set (including bid adjustments) when optimizing for conversions.
The formula might look like this: eCPC = Earnings/Clicks.