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Helmerich & Payne Inc (NYSE:HP)
Shiller P/E Ratio
15.06 (As of Today)

As of today, Helmerich & Payne Inc's current share price is $73.05. Helmerich & Payne Inc's E10 for the quarter that ended in Mar. 2015 was $4.85. Helmerich & Payne Inc's Shiller P/E Ratio for today is 15.06.

HP' s 10-Year Shiller P/E Ratio Range
Min: 7.85   Max: 48.05
Current: 14.9

7.85
48.05

During the past 13 years, Helmerich & Payne Inc's highest Shiller P/E Ratio was 48.05. The lowest was 7.85. And the median was 18.36.

HP's Shiller P/E Ratiois ranked lower than
131% of the 26 Companies
in the Global Oil & Gas Drilling industry.

( Industry Median: 6.92 vs. HP: 14.90 )

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.

Helmerich & Payne Inc's adjusted earnings per share data for the three months ended in Mar. 2015 was $1.376. Since most companies do not have as long as 10 years history, here we use 6 years to calculate. Add all the adjusted EPS for the past 6 years together and divide 6 will get our E10, which is $4.85 for the trailing six years ended in Mar. 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.

Helmerich & Payne Inc's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=73.05/4.85
=15.06

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Helmerich & Payne Inc's E10 for the fiscal year that ended in Sep14 is calculated as:

For example, Helmerich & Payne Inc's adjusted earnings per share data for the three months ended in Mar. 2015 was:

Adj_EPS=Earnigns per Share/CPI of Mar. 2015*CPI of Current
=1.37/236.119*237.167
=1.376

Since most companies do not have as long as 10 years history, GuruFocus uses 6 years to do the calculation.

Current CPI = 237.167.

Helmerich & Payne Inc Quarterly Data

201212201303201306201309201312201403201406201409201412201503
per share eps 1.4801.3902.4601.4751.5901.5901.7501.5431.8501.370
CPI 229.601232.773233.504234.149233.049236.293238.343238.031234.812236.119
Adj_EPS 1.5291.4162.4991.4941.6181.5961.7411.5371.8691.376
201006201009201012201103201106201109201112201203201206201209
per share eps -0.3500.7730.9600.9101.0101.1151.3201.1801.3801.467
CPI 217.965218.439219.179223.467225.722226.889225.672229.392229.478231.407
Adj_EPS -0.3810.8391.0390.9661.0611.1661.3871.2201.4261.504
200906200909200912201003
per share eps 0.5000.4800.5900.430
CPI 215.693215.969215.949217.631
Adj_EPS 0.5500.5270.6480.469

Add all the adjusted EPS together and divide 6 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.

Helmerich & Payne Inc Annual Data

Sep05Sep06Sep07Sep08Sep09Sep10Sep11Sep12Sep13Sep14
ShillerPE 39.7621.6720.8618.9914.3213.4011.3811.7815.6220.61

Helmerich & Payne Inc Quarterly Data

Dec12Mar13Jun13Sep13Dec13Mar14Jun14Sep14Dec14Mar15
ShillerPE 13.8414.7114.4115.6218.9023.2624.6920.6114.1814.04
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