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As of today, 3M Co's current share price is $149.11. 3M Co's E10 for the quarter that ended in Jun. 2015 was $6.24. 3M Co's Shiller P/E Ratio for today is 23.90.
During the past 13 years, 3M Co's highest Shiller P/E Ratio was 31.86. The lowest was 10.84. And the median was 20.58.
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.
3M Co's adjusted earnings per share data for the three months ended in Jun. 2015 was $2.020. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $6.24 for the trailing ten years ended in Jun. 2015.
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.
3M Co's Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
3M Co's E10 for the fiscal year that ended in Dec14 is calculated as:
For example, 3M Co's adjusted earnings per share data for the three months ended in Jun. 2015 was:
|Adj_EPS||=||Earnigns per Share||/||CPI of Jun. 2015 (Change)||*||Current CPI (Jun. 2015)|
Current CPI (Jun. 2015) = 238.638.
3M Co Quarterly Data
|per share eps||1.610||1.710||1.780||1.619||1.790||1.910||1.980||1.811||1.850||2.020|
|per share eps||1.530||1.275||1.490||1.600||1.520||1.348||1.590||1.660||1.650||1.413|
|per share eps||1.380||1.330||1.410||0.769||0.740||1.120||1.350||1.299||1.290||1.540|
|per share eps||1.080||0.967||1.170||1.150||1.180||1.571||1.850||1.250||1.320||1.174|
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.
3M Co Annual Data
3M Co Quarterly Data