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Lloyds Banking Group PLC (NYSE:LYG)
Shiller P/E Ratio
3.42 (As of Today)

As of today, Lloyds Banking Group PLC's current share price is $4.00. Lloyds Banking Group PLC's E10 for the quarter that ended in Sep. 2015 was $1.17. Lloyds Banking Group PLC's Shiller P/E Ratio for today is 3.42.

LYG' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 0.61   Max: 4.14
Current: 3.51

0.61
4.14

During the past 13 years, Lloyds Banking Group PLC's highest Shiller P/E Ratio was 4.14. The lowest was 0.61. And the median was 1.81.

LYG's Shiller P/E Ratio is ranked higher than
96% of the 502 Companies
in the Global Banks - Regional - Europe industry.

( Industry Median: 17.24 vs. LYG: 3.51 )

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.

Lloyds Banking Group PLC's adjusted earnings per share data for the three months ended in Sep. 2015 was $0.049. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $1.17 for the trailing ten years ended in Sep. 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.

Lloyds Banking Group PLC's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=4.00/1.17
=3.42

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

Lloyds Banking Group PLC's E10 for the fiscal year that ended in Dec14 is calculated as:

For example, Lloyds Banking Group PLC's adjusted earnings per share data for the three months ended in Sep. 2015 was:

Adj_EPS=Earnigns per Share/CPI of Sep. 2015 (Change)*Current CPI (Sep. 2015)
=0.0490797546012/237.945*237.945
=0.049

Current CPI (Sep. 2015) = 237.945.

Lloyds Banking Group PLC Quarterly Data

201309201312201403201406201409201412201503201506201509201512
per share eps -0.118-0.10110.631-10.7750.0520.0007.175-7.4140.049-0.060
CPI 234.149233.049236.293238.343238.031234.812236.119238.638237.945236.525
Adj_EPS -0.120-0.10410.706-10.7570.0520.0007.230-7.3930.049-0.060
201103201106201109201112201203201206201209201212201303201306
per share eps -0.0130.013-0.044-0.0120.000-0.062-0.039-0.0320.1330.000
CPI 223.467225.722226.889225.672229.392229.478231.407229.601232.773233.504
Adj_EPS -0.0140.014-0.046-0.0130.000-0.065-0.040-0.0330.1360.000
200712200803200806200812200906200912201003201006201009201012
per share eps 1.1810.0980.0960.3921.440-0.6430.0180.0320.087-0.393
CPI 210.036213.528218.815210.228215.693215.949217.631217.965218.439219.179
Adj_EPS 1.3380.1090.1050.4441.589-0.7080.0200.0350.095-0.427
200506200509200512200603200606200609200612200703200706200709
per share eps 0.7470.8180.7780.7380.7751.0411.0691.0290.1051.220
CPI 194.500198.800196.800199.800202.900202.900201.800205.352208.352208.490
Adj_EPS 0.9140.9790.9410.8790.9091.2211.2601.1930.1201.392

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.

Lloyds Banking Group PLC Annual Data

Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15
ShillerPE 0.000.000.000.000.000.711.452.710.004.08

Lloyds Banking Group PLC Quarterly Data

Sep13Dec13Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15
ShillerPE 2.352.711.682.853.210.002.244.083.874.08
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