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

As of today, II-VI Inc's current share price is $13.58. II-VI Inc's E10 for the quarter that ended in Mar. 2014 was $0.86. II-VI Inc's Shiller P/E Ratio for today is 15.70.

IIVI' s 10-Year Shiller P/E Ratio Range
Min: 14.53   Max: 62.22
Current: 15.7

14.53
62.22

During the past 13 years, II-VI Inc's highest Shiller P/E Ratio was 62.22. The lowest was 14.53. And the median was 33.26.

IIVI's Shiller P/E Ratiois ranked higher than
94% of the 2657 Companies
in the Global Scientific & Technical Instruments industry.

( Industry Median: 9999.00 vs. IIVI: 15.70 )

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. 2014 was $0.131. 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 Mar. 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
=13.58/0.86
=15.79

* 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 Jun13 is calculated as:

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

Adj_EPS=Earnigns per Share/CPI of Mar. 2014*CPI of Current
=0.13/236.293*238.786
=0.131

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

Current CPI = 238.786.

II-VI Inc Quarterly Data

201112201203201206201209201212201303201306201309201312201403
per share eps 0.2100.2200.2240.2000.1900.2500.1580.1500.1200.130
CPI 225.672229.392229.478231.407229.601232.773233.504234.149233.049236.293
Adj_EPS 0.2220.2290.2330.2060.1980.2560.1620.1530.1230.131
200906200909200912201003201006201009201012201103201106201109
per share eps 0.1020.1050.1000.1650.2510.2900.3000.3600.3480.290
CPI 215.693215.969215.949217.631217.965218.439219.179223.467225.722226.889
Adj_EPS 0.1130.1160.1110.1810.2750.3170.3270.3850.3680.305
200806200809200812200903
per share eps 0.2440.2850.1400.080
CPI 218.815218.783210.228212.709
Adj_EPS 0.2660.3110.1590.090

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

Jun04Jun05Jun06Jun07Jun08Jun09Jun10Jun11Jun12Jun13
ShillerPE 44.4840.4538.2642.6835.4520.2924.5633.2818.3517.28

II-VI Inc Quarterly Data

Dec11Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14
ShillerPE 22.5528.0718.3520.5319.7918.1217.2820.0920.1217.85
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