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Apartment Investment & Management Co (NYSE:AIV)
Shiller PE Ratio
46.71 (As of Today)

As of today, Apartment Investment & Management Co's current share price is $44.84. Apartment Investment & Management Co's E10 for the quarter that ended in Dec. 2016 was $0.96. Apartment Investment & Management Co's Shiller P/E Ratio for today is 46.71.

AIV' s Shiller PE Ratio Range Over the Past 10 Years
Min: 5.43   Max: 82.5
Current: 46.49

5.43
82.5

During the past 13 years, Apartment Investment & Management Co's highest Shiller P/E Ratio was 82.50. The lowest was 5.43. And the median was 50.12.

AIV's Shiller PE Ratio is ranked lower than
76% of the 198 Companies
in the Global REIT - Residential industry.

( Industry Median: 24.18 vs. AIV: 46.49 )

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.

Apartment Investment & Management Co's adjusted earnings per share data for the three months ended in Dec. 2016 was $1.030. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $0.96 for the trailing ten years ended in Dec. 2016.


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.

Apartment Investment & Management Co's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=44.84/0.96
=46.71

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Apartment Investment & Management Co's E10 for the fiscal year that ended in Dec16 is calculated as:

For example, Apartment Investment & Management Co's adjusted earnings per share data for the three months ended in Dec. 2016 was:

Adj_EPS=Earnigns per Share/CPI of Dec. 2016 (Change)*Current CPI (Dec. 2016)
=1.03/241.432*241.432
=1.030

Current CPI (Dec. 2016) = 241.432.

Apartment Investment & Management Co Quarterly Data

201409201412201503201506201509201512201603201606201609201612
per share eps 0.8500.2500.5800.3900.1200.4300.1501.4100.0701.030
CPI 238.031234.812236.119238.638237.945236.525238.132241.018241.428241.432
Adj_EPS 0.8620.2570.5930.3950.1220.4390.1521.4120.0701.030
201203201206201209201212201303201306201309201312201403201406
per share eps -0.0900.0000.1700.5000.0300.0700.4600.8400.4400.510
CPI 229.392229.478231.407229.601232.773233.504234.149233.049236.293238.343
Adj_EPS -0.0950.0000.1770.5260.0310.0720.4740.8700.4500.517
200909200912201003201006201009201012201103201106201109201112
per share eps -0.350-0.050-0.350-0.150-0.250-0.330-0.270-0.280-0.120-0.190
CPI 215.969215.949217.631217.965218.439219.179223.467225.722226.889225.672
Adj_EPS -0.391-0.056-0.388-0.166-0.276-0.364-0.292-0.299-0.128-0.203
200703200706200709200712200803200806200809200812200903200906
per share eps 0.0900.030-0.200-0.170-0.3001.9401.3501.030-0.340-0.260
CPI 205.352208.352208.490210.036213.528218.815218.783210.228212.709215.693
Adj_EPS 0.1060.035-0.232-0.195-0.3392.1411.4901.183-0.386-0.291

Add all the adjusted EPS together and divide 10 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 local exchange's currency.

Apartment Investment & Management Co Annual Data

Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15Dec16
ShillerPE 53.8712.3319.6639.9941.8852.8146.3460.9450.9147.12

Apartment Investment & Management Co Quarterly Data

Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16Sep16Dec16
ShillerPE 54.6760.9456.0249.7849.9750.9157.6851.1549.4247.12
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