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As of today, American Pacific Corporation's current share price is $46.47. American Pacific Corporation's E10 for the quarter that ended in Sep. 2013 was $0.85. American Pacific Corporation's Shiller P/E Ratio for today is 54.67.
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.
American Pacific Corporation's adjusted earnings per share data for the three months ended in Sep. 2013 was $1.318. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $0.85 for the trailing ten years ended in Sep. 2013.
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.
American Pacific Corporation's Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
American Pacific Corporation's E10 for the fiscal year that ended in Sep13 is calculated as:
For example, American Pacific Corporation's adjusted earnings per share data for the three months ended in Sep. 2013 was:
|Adj_EPS||=||Earnigns per Share||/||CPI of Sep. 2013 (Change)||*||Current CPI (Sep. 2013)|
Current CPI (Sep. 2013) = 234.149.
American Pacific Corporation Quarterly Data
|per share eps||-0.820||0.500||0.020||0.140||0.610||2.505||0.150||0.340||1.030||1.318|
|per share eps||0.060||0.230||-0.480||-0.614||-0.190||0.150||-0.610||0.216||-0.480||-0.160|
|per share eps||-0.140||0.110||0.090||0.020||0.080||0.479||0.380||0.220||0.020||0.568|
|per share eps||-0.300||0.030||-0.070||0.491||0.140||-0.040||-2.160||0.737||-0.180||-0.320|
Add all the adjusted EPS together and divide 10 will get our E10.
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.
The Shiller P/E assumes that over the long term, businesses and profitability revert to their means. If a companys business model does not work in the future compared with the past, the Shiller P/E and P/S ratio will give false valuations.
American Pacific Corporation Annual Data
American Pacific Corporation Quarterly Data
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