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II-VI Inc (NAS:IIVI)
Shiller P/E Ratio
14.32 (As of Today)

As of today, II-VI Inc's current share price is $12.37. II-VI Inc's E10 for the quarter that ended in Jun. 2014 was $0.86. II-VI Inc's Shiller P/E Ratio for today is 14.32.

IIVI' s 10-Year Shiller P/E Ratio Range
Min: 13.19   Max: 62.22
Current: 14.32

13.19
62.22

During the past 13 years, II-VI Inc's highest Shiller P/E Ratio was 62.22. The lowest was 13.19. And the median was 31.72.

IIVI's Shiller P/E Ratiois ranked higher than
92% of the 2720 Companies
in the Global Scientific & Technical Instruments industry.

( Industry Median: 9999.00 vs. IIVI: 14.32 )

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.

II-VI Inc's adjusted earnings per share data for the three months ended in Jun. 2014 was $0.199. 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 $0.86 for the trailing six years ended in Jun. 2014.


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.

II-VI Inc's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=12.37/0.86
=14.38

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

II-VI Inc's E10 for the fiscal year that ended in Jun14 is calculated as:

For example, II-VI Inc's adjusted earnings per share data for the three months ended in Jun. 2014 was:

Adj_EPS=Earnigns per Share/CPI of Jun. 2014*CPI of Current
=0.2/238.343*237.056
=0.199

Since most companies do not have as long as 10 years history, here we use 6 years to calculate:

Current CPI = 237.056.

II-VI Inc Quarterly Data

201203201206201209201212201303201306201309201312201403201406
per share eps 0.2200.2240.2000.1900.2500.1580.1500.1200.1300.200
CPI 229.392229.478231.407229.601232.773233.504234.149233.049236.293238.343
Adj_EPS 0.2270.2310.2050.1960.2550.1600.1520.1220.1300.199
200909200912201003201006201009201012201103201106201109201112
per share eps 0.1050.1000.1650.2510.2900.3000.3600.3480.2900.210
CPI 215.969215.949217.631217.965218.439219.179223.467225.722226.889225.672
Adj_EPS 0.1150.1100.1800.2730.3150.3240.3820.3650.3030.221
200809200812200903200906
per share eps 0.2850.1400.0800.102
CPI 218.783210.228212.709215.693
Adj_EPS 0.3090.1580.0890.112

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.

II-VI Inc Annual Data

Jun05Jun06Jun07Jun08Jun09Jun10Jun11Jun12Jun13Jun14
ShillerPE 40.4138.2142.6435.4120.2724.5433.2418.3317.4216.68

II-VI Inc Quarterly Data

Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14Jun14
ShillerPE 28.0318.3320.5019.7718.1017.4220.0620.2817.8216.68
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