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As of today, Affymax Inc's current share price is $0.10. Affymax Inc's E10 for the quarter that ended in Jun. 2014 was $-2.30. Affymax Inc's Shiller P/E Ratio for today is .
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.
Affymax Inc's adjusted earnings per share data for the three months ended in Jun. 2014 was $0.190. Since most companies do not have as long as 10 years history, here we use 6 years to calculate. Add all the adjusted EPS for the past 6 years together and divide 6 will get our E10, which is $-2.30 for the trailing six years ended in Jun. 2014.
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.
Affymax Inc's Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
Affymax Inc's E10 for the fiscal year that ended in Dec13 is calculated as:
For example, Affymax Inc's adjusted earnings per share data for the three months ended in Jun. 2014 was:
|Adj_EPS||=||Earnigns per Share||/||CPI of Jun. 2014||*||CPI of Current|
Since most companies do not have as long as 10 years history, GuruFocus uses 6 years to do the calculation.
Current CPI = 238.709.
Affymax Inc Quarterly Data
|per share eps||0.870||-0.890||-0.680||-1.837||-0.720||0.410||-0.050||-0.038||-0.040||0.190|
|per share eps||-0.970||-0.679||-0.330||0.700||-0.490||-0.452||-0.360||-0.350||-0.280||-0.824|
|per share eps||-1.720||-1.686||-1.320||-1.170|
Add all the adjusted EPS together and divide 6 will get our E10.
Compared with the regular P/E ratio, which works poorly for cyclical businesses, the Shiller P/E smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Shiller P/E should give similar results to regular P/E.
Compared with the P/S ratio, the Shiller P/E makes the comparison between different industries more meaningful.
The Shiller P/E assumes that over the long term, businesses and profitability revert to their means. If a companys business model does not work in the future compared with the past, the Shiller P/E and P/S ratio will give false valuations.
Affymax Inc Annual Data
Affymax Inc Quarterly Data