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Freeport-McMoRan Inc (NYSE:FCX)
Shiller P/E Ratio
(As of Today)

As of today, Freeport-McMoRan Inc's current share price is $12.94. Freeport-McMoRan Inc's E10 for the quarter that ended in Mar. 2016 was $-0.84. Freeport-McMoRan Inc's Shiller P/E Ratio for today is .

During the past 13 years, Freeport-McMoRan Inc's highest Shiller P/E Ratio was 748.86. The lowest was 0.00. And the median was 36.64.

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.

Freeport-McMoRan Inc's adjusted earnings per share data for the three months ended in Mar. 2016 was $-3.350. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $-0.84 for the trailing ten years ended in Mar. 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.

Freeport-McMoRan Inc's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=12.94/-0.84
=

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Freeport-McMoRan Inc's E10 for the fiscal year that ended in Dec15 is calculated as:

For example, Freeport-McMoRan Inc's adjusted earnings per share data for the three months ended in Mar. 2016 was:

Adj_EPS=Earnigns per Share/CPI of Mar. 2016 (Change)*Current CPI (Mar. 2016)
=-3.35/238.132*238.132
=-3.350

Current CPI (Mar. 2016) = 238.132.

Freeport-McMoRan Inc Quarterly Data

201403201406201409201412201503201506201509201512201603201606
per share eps 0.4900.4600.530-2.740-2.380-1.780-3.580-3.540-3.350-0.380
CPI 236.293238.343238.031234.812236.119238.638237.945236.525238.132240.724
Adj_EPS 0.4940.4600.530-2.779-2.400-1.776-3.583-3.564-3.350-0.376
201109201112201203201206201209201212201303201306201309201312
per share eps 1.1000.6700.8000.7400.8600.7800.6800.4900.7900.680
CPI 226.889225.672229.392229.478231.407229.601232.773233.504234.149233.049
Adj_EPS 1.1550.7070.8300.7680.8850.8090.6960.5000.8030.695
200903200906200909200912201003201006201009201012201103201106
per share eps 0.0550.6901.035-0.3851.0000.7001.2401.6301.5701.430
CPI 212.709215.693215.969215.949217.631217.965218.439219.179223.467225.722
Adj_EPS 0.0620.7621.141-0.4251.0940.7651.3521.7711.6731.509
200609200612200703200706200709200712200803200806200809200812
per share eps 0.8350.9951.0101.3100.9350.4601.3201.1250.655-18.250
CPI 202.900201.800205.352208.352208.490210.036213.528218.815218.783210.228
Adj_EPS 0.9801.1741.1711.4971.0680.5221.4721.2240.713-20.672

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.

Freeport-McMoRan Inc Annual Data

Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15
ShillerPE 31.0141.160.000.00290.9256.0336.6532.6623.960.00

Freeport-McMoRan Inc Quarterly Data

Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16
ShillerPE 27.0628.0924.2623.9626.9339.06144.290.000.000.00
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