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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 $12.66. Freeport-McMoRan Inc's E10 for the quarter that ended in Dec. 2015 was $-0.29. 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 932.75. The lowest was 6.12. And the median was 35.95.

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 Dec. 2015 was $-3.464. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $-0.29 for the trailing ten years ended in Dec. 2015.


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
=12.66/-0.29
=

* 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 Dec. 2015 was:

Adj_EPS=Earnigns per Share/CPI of Dec. 2015 (Change)*Current CPI (Dec. 2015)
=-3.464/236.525*236.525
=-3.464

Current CPI (Dec. 2015) = 236.525.

Freeport-McMoRan Inc Quarterly Data

201312201403201406201409201412201503201506201509201512201603
per share eps 0.6770.4900.4600.530-2.745-2.380-1.780-3.580-3.464-3.350
CPI 233.049236.293238.343238.031234.812236.119238.638237.945236.525237.208
Adj_EPS 0.6870.4900.4560.527-2.765-2.384-1.764-3.559-3.464-3.340
201106201109201112201203201206201209201212201303201306201309
per share eps 1.4301.1000.6700.8000.7400.8600.7760.6800.4900.790
CPI 225.722226.889225.672229.392229.478231.407229.601232.773233.504234.149
Adj_EPS 1.4981.1470.7020.8250.7630.8790.7990.6910.4960.798
200812200903200906200909200912201003201006201009201012201103
per share eps -18.3810.0550.6901.0350.8201.0000.7001.2401.6221.570
CPI 210.228212.709215.693215.969215.949217.631217.965218.439219.179223.467
Adj_EPS -20.6800.0610.7571.1340.8981.0870.7601.3431.7501.662
200606200609200612200703200706200709200712200803200806200809
per share eps 0.8700.8350.9641.0101.3100.9350.4621.3201.1250.655
CPI 202.900202.900201.800205.352208.352208.490210.036213.528218.815218.783
Adj_EPS 1.0140.9731.1301.1631.4871.0610.5201.4621.2160.708

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 31.3941.220.000.00192.6248.0532.7330.0621.450.00

Freeport-McMoRan Inc Quarterly Data

Dec13Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15Mar16
ShillerPE 30.0624.7626.0622.5621.4523.1431.3954.440.000.00
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