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As of today, Air T Inc's current share price is $20.34. Air T Inc's E10 for the quarter that ended in Sep. 2016 was $1.26. Air T Inc's Shiller P/E Ratio for today is 16.14.
During the past 13 years, Air T Inc's highest Shiller P/E Ratio was 23.30. The lowest was 7.66. And the median was 11.09.
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 of for the fiscal year that ended in Mar16 was $2.060. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $1.26 for the trailing ten years ended in Mar16.
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|
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
Air T Inc's E10 for the quarter that ended in Sep. 2016 is calculated as:
For example, Air T Inc's adjusted earnings per share data for the fiscal year that ended in Mar16 was:
|Adj_EPS||=||Earnigns per Share||/||CPI of Mar16 (Change)||*||Current CPI (Mar16)|
Current CPI (Mar16) = 238.132.
Air T Inc Annual Data
|per share eps||0.940||1.400||1.810||1.540||0.870||0.550||0.680||0.600||1.040||2.060|
Add all the adjusted EPS together and divide 10 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.
Air T Inc Annual Data
Air T Inc Semi-Annual Data