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Apartment Investment & Management Co (NYSE:AIV)
Shiller P/E Ratio
53.38 (As of Today)

As of today, Apartment Investment & Management Co's current share price is $45.91. Apartment Investment & Management Co's E10 for the quarter that ended in Jun. 2016 was $0.86. Apartment Investment & Management Co's Shiller P/E Ratio for today is 53.38.

AIV' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 5.43   Max: 82.5
Current: 53.47

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 50.78.

AIV's Shiller P/E Ratio is ranked lower than
81% of the 190 Companies
in the Global REIT - Residential industry.

( Industry Median: 24.81 vs. AIV: 53.47 )

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 Jun. 2016 was $1.410. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $0.86 for the trailing ten years ended in Jun. 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
=45.91/0.86
=53.38

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

Apartment Investment & Management Co's E10 for the fiscal year that ended in Dec15 is calculated as:

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

Adj_EPS=Earnigns per Share/CPI of Jun. 2016 (Change)*Current CPI (Jun. 2016)
=1.41/241.038*241.038
=1.410

Current CPI (Jun. 2016) = 241.038.

Apartment Investment & Management Co Quarterly Data

201403201406201409201412201503201506201509201512201603201606
per share eps 0.4400.5100.8500.2500.5800.3900.1200.4300.1501.410
CPI 236.293238.343238.031234.812236.119238.638237.945236.525238.132241.038
Adj_EPS 0.4490.5160.8610.2570.5920.3940.1220.4380.1521.410
201109201112201203201206201209201212201303201306201309201312
per share eps -0.120-0.190-0.0900.0000.1700.5000.0300.0700.4600.840
CPI 226.889225.672229.392229.478231.407229.601232.773233.504234.149233.049
Adj_EPS -0.127-0.203-0.0950.0000.1770.5250.0310.0720.4740.869
200903200906200909200912201003201006201009201012201103201106
per share eps -0.340-0.260-0.350-0.050-0.350-0.150-0.250-0.330-0.270-0.280
CPI 212.709215.693215.969215.949217.631217.965218.439219.179223.467225.722
Adj_EPS -0.385-0.291-0.391-0.056-0.388-0.166-0.276-0.363-0.291-0.299
200609200612200703200706200709200712200803200806200809200812
per share eps -0.4800.6400.0900.030-0.200-0.170-0.3001.9401.3501.030
CPI 202.900201.800205.352208.352208.490210.036213.528218.815218.783210.228
Adj_EPS -0.5700.7640.1060.035-0.231-0.195-0.3392.1371.4871.181

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 own currency.

Apartment Investment & Management Co Annual Data

Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15
ShillerPE 71.6853.8412.3319.6640.3442.2853.2546.2760.8251.23

Apartment Investment & Management Co Quarterly Data

Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16
ShillerPE 48.8846.9754.5560.8256.4150.1049.8151.2357.4751.41
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