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

As of today, Apartment Investment & Management Co's current share price is $42.60. Apartment Investment & Management Co's E10 for the quarter that ended in Mar. 2016 was $0.73. Apartment Investment & Management Co's Shiller P/E Ratio for today is 58.36.

AIV' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 5.31   Max: 80.44
Current: 57.91

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 50.46.

AIV's Shiller P/E Ratio is ranked lower than
81% of the 184 Companies
in the Global REIT - Residential industry.

( Industry Median: 24.50 vs. AIV: 57.91 )

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 Mar. 2016 was $0.150. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $0.73 for the trailing ten years ended in Mar. 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
=42.60/0.73
=58.36

* 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 Mar. 2016 was:

Adj_EPS=Earnigns per Share/CPI of Mar. 2016 (Change)*Current CPI (Mar. 2016)
=0.15/238.132*238.132
=0.150

Current CPI (Mar. 2016) = 238.132.

Apartment Investment & Management Co Quarterly Data

201312201403201406201409201412201503201506201509201512201603
per share eps 0.8390.4400.5100.8500.2480.5800.3900.1200.4270.150
CPI 233.049236.293238.343238.031234.812236.119238.638237.945236.525238.132
Adj_EPS 0.8570.4430.5100.8500.2520.5850.3890.1200.4300.150
201106201109201112201203201206201209201212201303201306201309
per share eps -0.280-0.120-0.194-0.0900.0000.1700.4690.0300.0700.460
CPI 225.722226.889225.672229.392229.478231.407229.601232.773233.504234.149
Adj_EPS -0.295-0.126-0.205-0.0930.0000.1750.4860.0310.0710.468
200812200903200906200909200912201003201006201009201012201103
per share eps 1.030-0.340-0.260-0.350-0.058-0.350-0.150-0.250-0.329-0.270
CPI 210.228212.709215.693215.969215.949217.631217.965218.439219.179223.467
Adj_EPS 1.167-0.381-0.287-0.386-0.064-0.383-0.164-0.273-0.357-0.288
200606200609200612200703200706200709200712200803200806200809
per share eps 0.170-0.4800.5810.0900.030-0.200-0.111-0.3001.9401.350
CPI 202.900202.900201.800205.352208.352208.490210.036213.528218.815218.783
Adj_EPS 0.200-0.5630.6860.1040.034-0.228-0.126-0.3352.1111.469

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 71.8353.9912.3519.6940.4341.9653.3346.3460.7551.18

Apartment Investment & Management Co Quarterly Data

Dec13Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15Mar16
ShillerPE 44.3947.0545.3752.2461.4256.9050.5150.2151.5457.28
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