Switch to:
GuruFocus has detected 5 Warning Signs with Statoil ASA $FRA:DNQA.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
Statoil ASA (FRA:DNQA)
Shiller PE Ratio
14.60 (As of Today)

As of today, Statoil ASA's current share price is €15.77. Statoil ASA's E10 for the quarter that ended in Dec. 2016 was €1.08. Statoil ASA's Shiller P/E Ratio for today is 14.60.

FRA:DNQA' s Shiller PE Ratio Range Over the Past 10 Years
Min: 8.08   Max: 16.65
Current: 14.64


During the past 13 years, Statoil ASA's highest Shiller P/E Ratio was 16.65. The lowest was 8.08. And the median was 10.21.

FRA:DNQA's Shiller PE Ratio is ranked lower than
65% of the 26 Companies
in the Global Oil & Gas Integrated industry.

( Industry Median: 11.78 vs. FRA:DNQA: 14.64 )

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.

Statoil ASA's adjusted earnings per share data for the three months ended in Dec. 2016 was €-0.825. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is €1.08 for the trailing ten years ended in Dec. 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.

Statoil ASA's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Statoil ASA's E10 for the fiscal year that ended in Dec16 is calculated as:

For example, Statoil ASA's adjusted earnings per share data for the three months ended in Dec. 2016 was:

Adj_EPS=Earnigns per Share/CPI of Dec. 2016 (Change)*Current CPI (Dec. 2016)

Current CPI (Dec. 2016) = 241.432.

Statoil ASA Quarterly Data

per share eps -0.178-0.307-1.3300.241-0.098-0.3210.171-0.089-0.125-0.825
CPI 238.031234.812236.119238.638237.945236.525238.132241.018241.428241.432
Adj_EPS -0.181-0.315-1.3600.243-0.099-0.3280.173-0.089-0.125-0.825
per share eps 0.6311.1090.6120.6100.2670.1720.5570.5450.8920.449
CPI 229.392229.478231.407229.601232.773233.504234.149233.049236.293238.343
Adj_EPS 0.6641.1670.6390.6420.2770.1780.5740.5650.9120.455
per share eps 0.2770.2630.4300.1430.5650.3770.6401.0900.4090.957
CPI 215.969215.949217.631217.965218.439219.179223.467225.722226.889225.672
Adj_EPS 0.3100.2950.4770.1590.6250.4160.6911.1660.4351.024
per share eps 0.4450.5400.6000.2430.6350.7430.242-0.1870.1310.002
CPI 205.352208.352208.490210.036213.528218.815218.783210.228212.709215.693
Adj_EPS 0.5230.6260.6940.2800.7180.8200.267-0.2150.1490.002

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.

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 local exchange's currency.

Statoil ASA Annual Data


Statoil ASA Quarterly Data

ShillerPE 10.888.7410.4810.309.6110.1610.9912.6912.4116.22
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)