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As of today, Waters Corp's current share price is €146.79. Waters Corp's E10 for the quarter that ended in Sep. 2016 was €4.09. Waters Corp's Shiller P/E Ratio for today is 35.89.
During the past 13 years, Waters Corp's highest Shiller P/E Ratio was 51.34. The lowest was 16.73. And the median was 29.58.
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.
Waters Corp's adjusted earnings per share data for the three months ended in Sep. 2016 was €1.363. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is €4.09 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.
Waters Corp's Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
Waters Corp's E10 for the fiscal year that ended in Dec15 is calculated as:
For example, Waters 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) = 241.428.
Waters Corp Quarterly Data
|per share eps||1.040||1.444||1.063||1.132||1.247||1.680||1.033||1.397||1.363||2.038|
|per share eps||0.742||0.869||0.869||1.524||1.073||0.781||0.853||1.197||0.593||0.832|
|per share eps||0.542||0.741||0.582||0.736||0.778||1.021||0.720||0.743||0.800||1.148|
|per share eps||0.408||0.440||0.374||0.666||0.431||0.527||0.495||0.740||0.574||0.514|
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.
Waters Corp Annual Data
Waters Corp Quarterly Data