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As of today, Medtronic PLC's current share price is $78.82. Medtronic PLC's E10 for the quarter that ended in Jan. 2016 was $2.84. Medtronic PLC's Shiller P/E Ratio for today is 27.75.
During the past 13 years, Medtronic PLC's highest Shiller P/E Ratio was 46.13. The lowest was 14.42. And the median was 22.29.
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.
Medtronic PLC's adjusted earnings per share data for the three months ended in Jan. 2016 was $0.770. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $2.84 for the trailing ten years ended in Jan. 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.
Medtronic PLC's Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
Medtronic PLC's E10 for the fiscal year that ended in Apr15 is calculated as:
For example, Medtronic PLC's adjusted earnings per share data for the three months ended in Jan. 2016 was:
|Adj_EPS||=||Earnigns per Share||/||CPI of Jan. 2016 (Change)||*||Current CPI (Jan. 2016)|
Current CPI (Jan. 2016) = 236.916.
Medtronic PLC Quarterly Data
|per share eps||0.890||0.750||0.443||0.870||0.830||0.980||-0.001||0.570||0.360||0.770|
|per share eps||0.721||0.770||0.820||0.880||0.946||0.830||0.630||0.970||0.946||0.930|
|per share eps||0.480||0.620||0.092||0.400||0.780||0.750||0.864||0.760||0.520||0.860|
|per share eps||0.616||0.510||0.590||0.610||0.701||0.590||0.580||0.070||0.718||0.640|
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.
Medtronic PLC Annual Data
Medtronic PLC Quarterly Data