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As of today, Statoil ASA's current share price is €15.14. Statoil ASA's E10 for the quarter that ended in Mar. 2016 was €1.27. Statoil ASA's Shiller P/E Ratio for today is 11.92.
During the past 13 years, Statoil ASA's highest Shiller P/E Ratio was 12.68. The lowest was 8.09. And the median was 10.00.
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 Mar. 2016 was €0.171. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is €1.27 for the trailing ten years ended in Mar. 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|
Statoil ASA's E10 for the fiscal year that ended in Dec15 is calculated as:
For example, Statoil ASA'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)|
Current CPI (Mar. 2016) = 238.132.
Statoil ASA Quarterly Data
|per share eps||0.545||0.892||0.449||-0.178||-0.307||-1.330||0.356||-0.094||-0.321||0.171|
|per share eps||1.090||0.409||0.957||0.631||1.109||0.612||0.610||0.267||0.172||0.557|
|per share eps||-0.187||0.131||0.002||0.277||0.263||0.430||0.143||0.565||0.377||0.640|
|per share eps||0.571||0.461||0.394||0.445||0.540||0.600||0.243||0.635||0.743||0.242|
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.
Statoil ASA Annual Data
Statoil ASA Quarterly Data