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As of today, Aircastle Ltd's current share price is $20.84. Aircastle Ltd's E10 for the quarter that ended in Sep. 2015 was $1.23. Aircastle Ltd's Shiller P/E Ratio for today is 16.94.
During the past 11 years, Aircastle Ltd's highest Shiller P/E Ratio was 21.42. The lowest was 16.24. And the median was 18.72.
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.
Aircastle Ltd's adjusted earnings per share data for the three months ended in Sep. 2015 was $-0.170. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $1.23 for the trailing ten years ended in Sep. 2015.
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.
Aircastle Ltd's Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
Aircastle Ltd's E10 for the fiscal year that ended in Dec14 is calculated as:
For example, Aircastle Ltd'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)|
Current CPI (Sep. 2015) = 237.945.
Aircastle Ltd Quarterly Data
|per share eps||0.480||-0.950||0.604||0.070||0.040||0.240||0.908||0.530||0.510||-0.170|
|per share eps||0.258||0.540||0.300||0.310||0.499||0.450||0.230||-0.650||0.431||0.340|
|per share eps||0.450||0.300||0.318||0.230||0.350||0.420||0.295||0.240||0.230||0.110|
|per share eps||0.030||0.270||0.110||0.320||0.381||0.360||0.570||0.490||0.459||0.400|
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.
Aircastle Ltd Annual Data
Aircastle Ltd Quarterly Data