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II-VI Inc (NAS:IIVI)
Shiller P/E Ratio
16.36 (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 Sep. 2014 was $0.83. II-VI Inc's Shiller P/E Ratio for today is 16.36.

IIVI' s 10-Year Shiller P/E Ratio Range
Min: 13.66   Max: 62.22
Current: 16.4

13.66
62.22

During the past 13 years, II-VI Inc's highest Shiller P/E Ratio was 62.22. The lowest was 13.66. And the median was 30.87.

IIVI's Shiller P/E Ratiois ranked higher than
92% of the 2788 Companies
in the Global Scientific & Technical Instruments industry.

( Industry Median: 9999.00 vs. IIVI: 16.40 )

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 Sep. 2014 was $0.198. 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 $0.83 for the trailing six years ended in Sep. 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
=13.58/0.83
=16.36

* 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 Sep. 2014 was:

Adj_EPS=Earnigns per Share/CPI of Sep. 2014*CPI of Current
=0.2/238.031*235.51
=0.198

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

Current CPI = 235.51.

II-VI Inc Quarterly Data

201206201209201212201303201306201309201312201403201406201409
per share eps 0.2240.2000.1900.2500.1580.1500.1200.1300.2000.200
CPI 229.478231.407229.601232.773233.504234.149233.049236.293238.343238.031
Adj_EPS 0.2300.2040.1950.2530.1590.1510.1210.1300.1980.198
200912201003201006201009201012201103201106201109201112201203
per share eps 0.1000.1650.2510.2900.3000.3600.3480.2900.2100.220
CPI 215.949217.631217.965218.439219.179223.467225.722226.889225.672229.392
Adj_EPS 0.1090.1790.2710.3130.3220.3790.3630.3010.2190.226
200812200903200906200909
per share eps 0.1400.0800.1020.105
CPI 210.228212.709215.693215.969
Adj_EPS 0.1570.0890.1110.115

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 40.3538.1442.5235.6420.2124.4833.1618.4517.3716.78

II-VI Inc Quarterly Data

Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14Jun14Sep14
ShillerPE 18.4520.6319.8918.0317.3720.1820.2017.9216.7814.21
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