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JPMorgan Chase & Co (NYSE:JPM)
Shiller P/E Ratio
14.33 (As of Today)

As of today, JPMorgan Chase & Co's current share price is $64.04. JPMorgan Chase & Co's E10 for the quarter that ended in Mar. 2016 was $4.47. JPMorgan Chase & Co's Shiller P/E Ratio for today is 14.33.

JPM' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 9.4   Max: 1489.33
Current: 14.31

9.4
1489.33

During the past 13 years, JPMorgan Chase & Co's highest Shiller P/E Ratio was 1489.33. The lowest was 9.40. And the median was 15.48.

JPM's Shiller P/E Ratio is ranked higher than
67% of the 488 Companies
in the Global Banks - Global industry.

( Industry Median: 17.08 vs. JPM: 14.31 )

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.

JPMorgan Chase & Co's adjusted earnings per share data for the three months ended in Mar. 2016 was $1.350. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $4.47 for the trailing ten years ended in Mar. 2016.


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.

JPMorgan Chase & Co's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=64.04/4.47
=14.33

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

JPMorgan Chase & Co's E10 for the fiscal year that ended in Dec14 is calculated as:

For example, JPMorgan Chase & Co's adjusted earnings per share data for the three months ended in Mar. 2016 was:

Adj_EPS=Earnigns per Share/CPI of Mar. 2016 (Change)*Current CPI (Mar. 2016)
=1.35/238.132*238.132
=1.350

Current CPI (Mar. 2016) = 238.132.

JPMorgan Chase & Co Quarterly Data

201403201406201409201412201503201506201509201512201603201606
per share eps 1.2801.4601.3501.2001.4501.5401.6801.3201.3501.550
CPI 236.293238.343238.031234.812236.119238.638237.945236.525238.132240.724
Adj_EPS 1.2901.4591.3511.2171.4621.5371.6811.3291.3501.533
201109201112201203201206201209201212201303201306201309201312
per share eps 1.0200.9001.1901.2101.4001.3901.5901.600-0.1701.290
CPI 226.889225.672229.392229.478231.407229.601232.773233.504234.149233.049
Adj_EPS 1.0710.9501.2351.2561.4411.4421.6271.632-0.1731.318
200903200906200909200912201003201006201009201012201103201106
per share eps 0.4000.2800.8200.7500.7401.0901.0101.1201.2801.270
CPI 212.709215.693215.969215.949217.631217.965218.439219.179223.467225.722
Adj_EPS 0.4480.3090.9040.8270.8101.1911.1011.2171.3641.340
200609200612200703200706200709200712200803200806200809200812
per share eps 0.9201.2601.3401.2000.9700.8600.6800.5300.0900.040
CPI 202.900201.800205.352208.352208.490210.036213.528218.815218.783210.228
Adj_EPS 1.0801.4871.5541.3721.1080.9750.7580.5770.0980.045

Add all the adjusted EPS together and divide 10 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.

JPMorgan Chase & Co Annual Data

Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15
ShillerPE 120.5386.33116.131,427.6715.7710.7012.2715.9215.6215.16

JPMorgan Chase & Co Quarterly Data

Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16
ShillerPE 16.3114.6314.9715.6214.7315.8614.0015.1613.240.00
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