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KLA-Tencor Corp (NAS:KLAC)
Shiller P/E Ratio
28.23 (As of Today)

As of today, KLA-Tencor Corp's current share price is $71.99. KLA-Tencor Corp's E10 for the quarter that ended in Mar. 2016 was $2.55. KLA-Tencor Corp's Shiller P/E Ratio for today is 28.23.

KLAC' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 11.12   Max: 46.55
Current: 28.2

11.12
46.55

During the past 13 years, KLA-Tencor Corp's highest Shiller P/E Ratio was 46.55. The lowest was 11.12. And the median was 27.79.

KLAC's Shiller P/E Ratio is ranked higher than
70% of the 104 Companies
in the Global Semiconductor Equipment & Materials industry.

( Industry Median: 38.65 vs. KLAC: 28.20 )

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.

KLA-Tencor Corp's adjusted earnings per share data for the three months ended in Mar. 2016 was $1.120. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $2.55 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.

KLA-Tencor Corp's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=71.99/2.55
=28.23

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

KLA-Tencor Corp's E10 for the fiscal year that ended in Jun15 is calculated as:

For example, KLA-Tencor Corp'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)
=1.12/238.132*238.132
=1.120

Current CPI (Mar. 2016) = 238.132.

KLA-Tencor Corp Quarterly Data

201312201403201406201409201412201503201506201509201512201603
per share eps 0.8301.2100.7690.4300.1200.8100.8880.6600.9801.120
CPI 233.049236.293238.343238.031234.812236.119238.638237.945236.525238.132
Adj_EPS 0.8481.2190.7680.4300.1220.8170.8860.6610.9871.120
201106201109201112201203201206201209201212201303201306201309
per share eps 1.4291.1300.6601.2101.4540.8000.6300.9800.7990.660
CPI 225.722226.889225.672229.392229.478231.407229.601232.773233.504234.149
Adj_EPS 1.5081.1860.6961.2561.5090.8230.6531.0030.8150.671
200812200903200906200909200912201003201006201009201012201103
per share eps -2.570-0.490-0.1500.1200.1300.3300.6580.9101.0901.220
CPI 210.228212.709215.693215.969215.949217.631217.965218.439219.179223.467
Adj_EPS -2.911-0.549-0.1660.1320.1430.3610.7190.9921.1841.300
200606200609200612200703200706200709200712200803200806200809
per share eps 0.6470.6700.4400.7600.7480.4600.4500.6100.4270.110
CPI 202.900202.900201.800205.352208.352208.490210.036213.528218.815218.783
Adj_EPS 0.7590.7860.5190.8810.8550.5250.5100.6800.4650.120

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.

KLA-Tencor Corp Annual Data

Jun06Jun07Jun08Jun09Jun10Jun11Jun12Jun13Jun14Jun15
ShillerPE 36.5641.2327.3422.3325.4425.6425.9125.5329.7223.46

KLA-Tencor Corp Quarterly Data

Dec13Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15Mar16
ShillerPE 28.2529.0129.7232.6330.2124.9723.4620.6828.3528.54
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