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Air Products & Chemicals Inc (NYSE:APD)
Shiller P/E Ratio
26.70 (As of Today)

As of today, Air Products & Chemicals Inc's current share price is $132.16. Air Products & Chemicals Inc's E10 for the quarter that ended in Dec. 2015 was $4.95. Air Products & Chemicals Inc's Shiller P/E Ratio for today is 26.70.

APD' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 14.72   Max: 35.71
Current: 26.7

14.72
35.71

During the past 13 years, Air Products & Chemicals Inc's highest Shiller P/E Ratio was 35.71. The lowest was 14.72. And the median was 25.46.

APD's Shiller P/E Ratio is ranked lower than
54% of the 156 Companies
in the Global Chemicals industry.

( Industry Median: 25.23 vs. APD: 26.70 )

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 Products & Chemicals Inc's adjusted earnings per share data for the three months ended in Dec. 2015 was $1.670. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $4.95 for the trailing ten years ended in Dec. 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.

Air Products & Chemicals Inc's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=132.16/4.95
=26.70

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

Air Products & Chemicals Inc's E10 for the fiscal year that ended in Sep15 is calculated as:

For example, Air Products & Chemicals Inc's adjusted earnings per share data for the three months ended in Dec. 2015 was:

Adj_EPS=Earnigns per Share/CPI of Dec. 2015 (Change)*Current CPI (Dec. 2015)
=1.67/236.525*236.525
=1.670

Current CPI (Dec. 2015) = 236.525.

Air Products & Chemicals Inc Quarterly Data

201309201312201403201406201409201412201503201506201509201512
per share eps 0.6421.3501.3201.4600.4811.5001.3301.4701.5831.670
CPI 234.149233.049236.293238.343238.031234.812236.119238.638237.945236.525
Adj_EPS 0.6491.3701.3211.4490.4781.5111.3321.4571.5741.670
201103201106201109201112201203201206201209201212201303201306
per share eps 1.3901.5001.5091.1601.3802.2600.6451.3101.3801.360
CPI 223.467225.722226.889225.672229.392229.478231.407229.601232.773233.504
Adj_EPS 1.4711.5721.5731.2161.4232.3290.6591.3501.4021.378
200809200812200903200906200909200912201003201006201009201012
per share eps 1.2050.3200.9700.5301.1311.1601.1601.1701.2501.230
CPI 218.783210.228212.709215.693215.969215.949217.631217.965218.439219.179
Adj_EPS 1.3030.3601.0790.5811.2391.2711.2611.2701.3531.327
200603200606200609200612200703200706200709200712200803200806
per share eps 0.8900.9200.5701.0301.0201.2801.3141.1901.4300.320
CPI 199.800202.900202.900201.800205.352208.352208.490210.036213.528218.815
Adj_EPS 1.0541.0720.6641.2071.1751.4531.4911.3401.5840.346

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.

Air Products & Chemicals Inc Annual Data

Sep06Sep07Sep08Sep09Sep10Sep11Sep12Sep13Sep14Sep15
ShillerPE 26.4134.9422.7125.7624.0219.6919.6823.7327.6225.90

Air Products & Chemicals Inc Quarterly Data

Sep13Dec13Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15
ShillerPE 23.7324.5525.5927.0427.6230.5231.7328.1425.9026.29
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