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

As of today, II-VI Inc's current share price is $17.00. II-VI Inc's E10 for the quarter that ended in Mar. 2015 was $0.90. II-VI Inc's Shiller P/E Ratio for today is 18.89.

IIVI' s 10-Year Shiller P/E Ratio Range
Min: 13.5   Max: 62.22
Current: 18.89

13.5
62.22

During the past 13 years, II-VI Inc's highest Shiller P/E Ratio was 62.22. The lowest was 13.50. And the median was 28.06.

IIVI's Shiller P/E Ratiois ranked higher than
58% of the 827 Companies
in the Global Scientific & Technical Instruments industry.

( Industry Median: 22.05 vs. IIVI: 18.89 )

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 Mar. 2015 was $0.233. 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 $0.90 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.

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

Shiller P/E Ratio=Share Price/E10
=17.00/0.90
=18.89

* 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 Mar. 2015 was:

Adj_EPS=Earnigns per Share/CPI of Mar. 2015*CPI of Current
=0.23/236.119*238.709
=0.233

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

Current CPI = 238.709.

II-VI Inc Quarterly Data

201212201303201306201309201312201403201406201409201412201503
per share eps 0.1900.2500.1580.1500.1200.1300.2000.2000.3500.230
CPI 229.601232.773233.504234.149233.049236.293238.343238.031234.812236.119
Adj_EPS 0.1980.2560.1620.1530.1230.1310.2000.2010.3560.233
201006201009201012201103201106201109201112201203201206201209
per share eps 0.2510.2900.3000.3600.3480.2900.2100.2200.2240.200
CPI 217.965218.439219.179223.467225.722226.889225.672229.392229.478231.407
Adj_EPS 0.2750.3170.3270.3850.3680.3050.2220.2290.2330.206
200906200909200912201003
per share eps 0.1020.1050.1000.165
CPI 215.693215.969215.949217.631
Adj_EPS 0.1130.1160.1110.181

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 40.4938.3142.7335.4920.3124.5933.3018.3617.2816.77

II-VI Inc Quarterly Data

Dec12Mar13Jun13Sep13Dec13Mar14Jun14Sep14Dec14Mar15
ShillerPE 19.8018.1217.2820.0920.1217.8516.7713.9515.8820.51
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