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As of today, Dover Corp's current share price is $68.64. Dover Corp's E10 for the quarter that ended in Sep. 2016 was $4.23. Dover Corp's Shiller P/E Ratio for today is 16.23.
During the past 13 years, Dover Corp's highest Shiller P/E Ratio was 24.54. The lowest was 8.10. And the median was 17.35.
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.
Dover Corp's adjusted earnings per share data for the three months ended in Sep. 2016 was $0.830. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $4.23 for the trailing ten years ended in Sep. 2016.
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.
Dover Corp's Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
Dover Corp's E10 for the fiscal year that ended in Dec15 is calculated as:
For example, Dover Corp's adjusted earnings per share data for the three months ended in Sep. 2016 was:
|Adj_EPS||=||Earnigns per Share||/||CPI of Sep. 2016 (Change)||*||Current CPI (Sep. 2016)|
Current CPI (Sep. 2016) = 240.956.
Dover Corp Quarterly Data
|per share eps||1.270||1.380||1.020||1.280||2.070||1.190||0.910||0.640||0.760||0.830|
|per share eps||1.480||1.050||1.150||1.310||0.900||1.200||1.910||1.560||1.130||0.930|
|per share eps||0.520||0.570||0.530||0.580||0.900||1.190||1.040||1.030||1.320||0.910|
|per share eps||0.580||0.630||0.840||0.860||0.940||0.760||0.710||1.000||0.650||0.290|
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.
Dover Corp Annual Data
Dover Corp Quarterly Data