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

As of today, Apartment Investment & Management Co's current share price is $35.55. Apartment Investment & Management Co's E10 for the quarter that ended in Sep. 2015 was $0.74. Apartment Investment & Management Co's Shiller P/E Ratio for today is 48.04.

AIV' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 5.31   Max: 80.44
Current: 48.23

5.31
80.44

During the past 13 years, Apartment Investment & Management Co's highest Shiller P/E Ratio was 80.44. The lowest was 5.31. And the median was 50.84.

AIV's Shiller P/E Ratio is ranked lower than
84% of the 179 Companies
in the Global REIT - Residential industry.

( Industry Median: 20.38 vs. AIV: 48.23 )

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 Sep. 2015 was $0.120. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $0.74 for the trailing ten years ended in Sep. 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.

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

Shiller P/E Ratio=Share Price/E10
=35.55/0.74
=48.04

* 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 Dec14 is calculated as:

For example, Apartment Investment & Management Co's adjusted earnings per share data for the three months ended in Sep. 2015 was:

Adj_EPS=Earnigns per Share/CPI of Sep. 2015 (Change)*Current CPI (Sep. 2015)
=0.12/237.945*237.945
=0.120

Current CPI (Sep. 2015) = 237.945.

Apartment Investment & Management Co Quarterly Data

201309201312201403201406201409201412201503201506201509201512
per share eps 0.4600.8390.4400.5100.8500.2480.5800.3900.1200.430
CPI 234.149233.049236.293238.343238.031234.812236.119238.638237.945236.525
Adj_EPS 0.4670.8570.4430.5090.8500.2510.5840.3890.1200.433
201103201106201109201112201203201206201209201212201303201306
per share eps -0.270-0.280-0.120-0.194-0.0900.0000.1700.4690.0300.070
CPI 223.467225.722226.889225.672229.392229.478231.407229.601232.773233.504
Adj_EPS -0.287-0.295-0.126-0.205-0.0930.0000.1750.4860.0310.071
200809200812200903200906200909200912201003201006201009201012
per share eps 1.3501.030-0.340-0.260-0.350-0.058-0.350-0.150-0.250-0.329
CPI 218.783210.228212.709215.693215.969215.949217.631217.965218.439219.179
Adj_EPS 1.4681.166-0.380-0.287-0.386-0.064-0.383-0.164-0.272-0.357
200603200606200609200612200703200706200709200712200803200806
per share eps 0.6300.170-0.4800.5810.0900.030-0.200-0.111-0.3001.940
CPI 199.800202.900202.900201.800205.352208.352208.490210.036213.528218.815
Adj_EPS 0.7500.199-0.5630.6850.1040.034-0.228-0.126-0.3342.110

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 69.8251.4812.0018.9738.5239.9650.8644.3561.440.00

Apartment Investment & Management Co Quarterly Data

Sep13Dec13Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15
ShillerPE 53.8744.3547.0045.3252.2461.4456.9150.5150.210.00
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