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Air T Inc (NAS:AIRT)
Shiller P/E Ratio
28.39 (As of Today)

As of today, Air T Inc's current share price is $22.71. Air T Inc's E10 for the quarter that ended in Jun. 2015 was $0.80. Air T Inc's Shiller P/E Ratio for today is 28.39.

AIRT' s 10-Year Shiller P/E Ratio Range
Min: 5.38   Max: 107.75
Current: 28.51

5.38
107.75

During the past 13 years, Air T Inc's highest Shiller P/E Ratio was 107.75. The lowest was 5.38. And the median was 10.93.

AIRT's Shiller P/E Ratiois ranked lower than
66% of the 399 Companies
in the Global Integrated Shipping & Logistics industry.

( Industry Median: 20.74 vs. AIRT: 28.51 )

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.

Air T Inc's adjusted earnings per share data for the three months ended in Jun. 2015 was $-0.310. 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 $0.80 for the trailing six years ended in Jun. 2015.


Definition

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.

Air T Inc's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=22.71/0.80
=28.39

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Air T Inc's E10 for the fiscal year that ended in Mar15 is calculated as:

For example, Air T Inc's adjusted earnings per share data for the three months ended in Jun. 2015 was:

Adj_EPS=Earnigns per Share/CPI of Jun. 2015*CPI of Current
=-0.31/238.638*238.662
=-0.310

Since most companies do not have as long as 10 years history, GuruFocus uses 6 years to do the calculation.

Current CPI = 238.662.

Air T Inc Quarterly Data

201303201306201309201312201403201406201409201412201503201506
per share eps 0.1590.0600.1800.1900.1770.0300.7700.610-0.361-0.310
CPI 232.773233.504234.149233.049236.293238.343238.031234.812236.119238.638
Adj_EPS 0.1630.0610.1830.1950.1790.0300.7720.620-0.365-0.310
201009201012201103201106201109201112201203201206201209201212
per share eps 0.2200.2400.2830.0700.2400.2400.0040.1700.0900.260
CPI 218.439219.179223.467225.722226.889225.672229.392229.478231.407229.601
Adj_EPS 0.2400.2610.3020.0740.2520.2540.0040.1770.0930.270
200909200912201003201006
per share eps 0.3500.5100.2200.120
CPI 215.969215.949217.631217.965
Adj_EPS 0.3870.5640.2410.131

Add all the adjusted EPS together and divide 6 will get our E10.


Explanation

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.


Be Aware

The Shiller P/E assumes that over the long term, businesses and profitability revert to their means. If a company’s business model does not work in the future compared with the past, the Shiller P/E and P/S ratio will give false valuations.


Related Terms

P/E Ratio, P/B Ratio, P/S Ratio, Price-to-Free-Cash-Flow ratio, E10


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Air T Inc Annual Data

Mar06Mar07Mar08Mar09Mar10Mar11Mar12Mar13Mar14Mar15
ShillerPE 23.9914.5213.805.239.067.317.537.8111.1926.53

Air T Inc Quarterly Data

Mar13Jun13Sep13Dec13Mar14Jun14Sep14Dec14Mar15Jun15
ShillerPE 7.818.639.5310.5911.1913.0312.8024.7326.5326.20
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