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

As of today, Air Products & Chemicals Inc's current share price is $156.30. Air Products & Chemicals Inc's E10 for the quarter that ended in Jun. 2016 was $4.77. Air Products & Chemicals Inc's Shiller P/E Ratio for today is 32.77.

APD' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 18.67   Max: 45.64
Current: 32.78

18.67
45.64

During the past 13 years, Air Products & Chemicals Inc's highest Shiller P/E Ratio was 45.64. The lowest was 18.67. And the median was 30.02.

APD's Shiller P/E Ratio is ranked higher than
50% of the 177 Companies
in the Global Chemicals industry.

( Industry Median: 32.35 vs. APD: 32.78 )

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 Jun. 2016 was $1.590. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $4.77 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.

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

Shiller P/E Ratio=Share Price/E10
=156.30/4.77
=32.77

* 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 Jun. 2016 was:

Adj_EPS=Earnigns per Share/CPI of Jun. 2016 (Change)*Current CPI (Jun. 2016)
=1.59/241.038*241.038
=1.590

Current CPI (Jun. 2016) = 241.038.

Air Products & Chemicals Inc Quarterly Data

201403201406201409201412201503201506201509201512201603201606
per share eps 1.3201.4600.4801.5001.3301.4701.5801.670-2.1701.590
CPI 236.293238.343238.031234.812236.119238.638237.945236.525238.132241.038
Adj_EPS 1.3471.4770.4861.5401.3581.4851.6011.702-2.1961.590
201109201112201203201206201209201212201303201306201309201312
per share eps 1.5101.1601.3802.2600.6501.3101.3801.3600.6401.350
CPI 226.889225.672229.392229.478231.407229.601232.773233.504234.149233.049
Adj_EPS 1.6041.2391.4502.3740.6771.3751.4291.4040.6591.396
200903200906200909200912201003201006201009201012201103201106
per share eps 0.9700.5301.1401.1601.1601.1701.2501.2301.3901.500
CPI 212.709215.693215.969215.949217.631217.965218.439219.179223.467225.722
Adj_EPS 1.0990.5921.2721.2951.2851.2941.3791.3531.4991.602
200609200612200703200706200709200712200803200806200809200812
per share eps 0.5701.0301.0201.2801.3101.1901.4300.3201.2000.320
CPI 202.900201.800205.352208.352208.490210.036213.528218.815218.783210.228
Adj_EPS 0.6771.2301.1971.4811.5151.3661.6140.3521.3220.367

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 35.0444.6628.8132.6129.5223.7923.5128.0730.0225.92

Air Products & Chemicals Inc Quarterly Data

Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16
ShillerPE 30.1331.7830.0233.1234.4130.5025.9226.3130.8329.79
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