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As of today, AutoZone Inc's current share price is $644.97. AutoZone Inc's E10 for the quarter that ended in Nov. 2014 was $23.03. AutoZone Inc's Shiller P/E Ratio for today is 28.01.
During the past 13 years, AutoZone Inc's highest Shiller P/E Ratio was 28.84. The lowest was 11.27. And the median was 21.18.
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.
AutoZone Inc's adjusted earnings per share data for the three months ended in Nov. 2014 was $7.198. Since most companies do not have as long as 10 years history, here we use 6 years to calculate. Add all the adjusted EPS for the past 6 years together and divide 6 will get our E10, which is $23.03 for the trailing six years ended in Nov. 2014.
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.
AutoZone Inc's Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
AutoZone Inc's E10 for the fiscal year that ended in Aug14 is calculated as:
For example, AutoZone Inc's adjusted earnings per share data for the three months ended in Nov. 2014 was:
|Adj_EPS||=||Earnigns per Share||/||CPI of Nov. 2014||*||CPI of Current|
Since most companies do not have as long as 10 years history, GuruFocus uses 6 years to do the calculation.
Current CPI = 233.808.
AutoZone Inc Quarterly Data
|per share eps||8.563||5.410||4.780||7.270||10.516||6.290||5.630||8.460||11.366||7.270|
|per share eps||2.460||4.120||5.727||3.770||3.340||5.290||7.274||4.680||4.150||6.280|
|per share eps||2.030||3.130||4.504||2.820|
Add all the adjusted EPS together and divide 6 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.
AutoZone Inc Annual Data
AutoZone Inc Quarterly Data