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M D C Holdings Inc (NYSE:MDC)
Shiller P/E Ratio
0.00 (As of Today)

As of today, M D C Holdings Inc's current share price is $28.83. M D C Holdings Inc's E10 for the quarter that ended in Mar. 2014 was $-0.42. M D C Holdings Inc's Shiller P/E Ratio for today is 0.00.

MDC' s 10-Year Shiller P/E Ratio Range
Min: 0   Max: 267.55
Current: 0

0
267.55

During the past 13 years, M D C Holdings Inc's highest Shiller P/E Ratio was 267.55. The lowest was 0.00. And the median was 13.87.

MDC's Shiller P/E Ratiois ranked lower than
68% of the 486 Companies
in the Global Residential Construction industry.

( Industry Median: 9999.00 vs. MDC: 0.00 )

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.

M D C Holdings Inc's adjusted earnings per share data for the three months ended in Mar. 2014 was $0.233. 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 $-0.42 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.

M D C Holdings Inc's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=28.83/-0.42
=

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

M D C Holdings Inc's E10 for the fiscal year that ended in Dec13 is calculated as:

For example, M D C Holdings 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
=0.23/236.293*239.556
=0.233

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

Current CPI = 239.556.

M D C Holdings Inc Quarterly Data

201112201203201206201209201212201303201306201309201312201403
per share eps -0.4000.0400.2200.4100.6120.4504.5600.7300.6300.230
CPI 225.672229.392229.478231.407229.601232.773233.504234.149233.049236.293
Adj_EPS -0.4250.0420.2300.4240.6390.4634.6780.7470.6480.233
200906200909200912201003201006201009201012201103201106201109
per share eps -0.640-0.6902.642-0.450-0.080-0.220-0.642-0.430-0.600-0.680
CPI 215.693215.969215.949217.631217.965218.439219.179223.467225.722226.889
Adj_EPS -0.711-0.7652.931-0.495-0.088-0.241-0.702-0.461-0.637-0.718
200806200809200812200903
per share eps -2.180-2.550-1.921-0.880
CPI 218.815218.783210.228212.709
Adj_EPS -2.387-2.792-2.189-0.991

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.

M D C Holdings Inc Annual Data

Dec04Dec05Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13
ShillerPE 14.8210.188.789.9918.4838.013.492.674.170.00

M D C Holdings Inc Quarterly Data

Dec11Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14
ShillerPE 2.674.425.034.544.170.000.000.000.000.00
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