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As of today, Garmin Ltd's current share price is $42.63. Garmin Ltd's E10 for the quarter that ended in Mar. 2016 was $3.12. Garmin Ltd's Shiller P/E Ratio for today is 13.66.
During the past 13 years, Garmin Ltd's highest Shiller P/E Ratio was 20.59. The lowest was 10.42. And the median was 15.11.
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.
Garmin Ltd's adjusted earnings per share data for the three months ended in Mar. 2016 was $0.460. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $3.12 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.
Garmin Ltd's Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
Garmin Ltd's E10 for the fiscal year that ended in Dec15 is calculated as:
For example, Garmin Ltd'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) = 237.208.
Garmin Ltd Quarterly Data
|per share eps||0.833||0.610||0.930||-0.760||1.093||0.350||0.720||0.630||0.697||0.460|
|per share eps||0.560||0.770||0.848||0.440||0.950||0.720||0.659||0.450||0.880||0.960|
|per share eps||0.789||0.240||0.810||1.070||1.381||0.190||0.670||1.430||0.680||0.490|
|per share eps||0.560||0.560||0.825||0.640||0.980||0.880||1.390||0.670||1.190||0.820|
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.
Garmin Ltd Annual Data
Garmin Ltd Quarterly Data