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As of today, Meredith Corp's current share price is $63.30. Meredith Corp's E10 for the quarter that ended in Dec. 2016 was $2.24. Meredith Corp's Shiller P/E Ratio for today is 28.26.
During the past 13 years, Meredith Corp's highest Shiller P/E Ratio was 32.08. The lowest was 5.37. And the median was 18.43.
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.
Meredith Corp's adjusted earnings per share data for the three months ended in Dec. 2016 was $1.580. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $2.24 for the trailing ten years ended in Dec. 2016.
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.
Meredith Corp's Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
Meredith Corp's E10 for the fiscal year that ended in Jun16 is calculated as:
For example, Meredith Corp's adjusted earnings per share data for the three months ended in Dec. 2016 was:
|Adj_EPS||=||Earnigns per Share||/||CPI of Dec. 2016 (Change)||*||Current CPI (Dec. 2016)|
Current CPI (Dec. 2016) = 241.432.
Meredith Corp Quarterly Data
|per share eps||0.650||0.870||0.560||0.940||0.240||0.720||1.790||-2.030||0.750||1.580|
|per share eps||0.470||0.660||0.550||0.790||0.650||0.740||0.530||0.670||0.410||0.890|
|per share eps||0.400||0.420||0.730||0.730||0.560||0.880||0.670||0.660||0.480||0.700|
|per share eps||0.920||1.050||0.680||0.750||0.970||0.430||0.410||0.280||0.560||-3.630|
Add all the adjusted EPS together and divide 10 will get our E10.
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.
The Shiller P/E assumes that over the long term, businesses and profitability revert to their means. If a companys business model does not work in the future compared with the past, the Shiller P/E and P/S ratio will give false valuations.
Meredith Corp Annual Data
Meredith Corp Quarterly Data