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Apple (AAPL) Shiller PE Ratio

: 39.40 (As of Today)
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As of today (2024-04-18), Apple's current share price is $167.04. Apple's E10 for the quarter that ended in Dec. 2023 was $4.24. Apple's Shiller PE Ratio for today is 39.40.

The historical rank and industry rank for Apple's Shiller PE Ratio or its related term are showing as below:

AAPL' s Shiller PE Ratio Range Over the Past 10 Years
Min: 20.59   Med: 33.8   Max: 62.31
Current: 39.4

During the past years, Apple's highest Shiller PE Ratio was 62.31. The lowest was 20.59. And the median was 33.80.

AAPL's Shiller PE Ratio is ranked worse than
72.01% of 1354 companies
in the Hardware industry
Industry Median: 23.57 vs AAPL: 39.40

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Apple's adjusted earnings per share data for the three months ended in Dec. 2023 was $2.180. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $4.24 for the trailing ten years ended in Dec. 2023.

Shiller PE for Stocks: The True Measure of Stock Valuation


Apple Shiller PE Ratio Historical Data

The historical data trend for Apple's Shiller PE Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Apple Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Shiller PE Ratio
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 27.92 50.40 49.17 39.06 41.71

Apple Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Shiller PE Ratio Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 35.47 43.05 48.95 41.71 45.40

Competitive Comparison

For the Consumer Electronics subindustry, Apple's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Apple Shiller PE Ratio Distribution

For the Hardware industry and Technology sector, Apple's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Apple's Shiller PE Ratio falls into.



Apple Shiller PE Ratio Calculation

For Shiller PE Ratio, 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 PE Ratio is also called PE10.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Apple's Shiller PE Ratio for today is calculated as

Shiller PE Ratio=Share Price/ E10
=167.04/4.24
=39.40

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Apple's E10 for the quarter that ended in Dec. 2023 is calculated as:

For example, Apple's adjusted earnings per share data for the three months ended in Dec. 2023 was:

Adj_EPS=Earnings per Share (Diluted)/CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=2.18/129.4194*129.4194
=2.180

Current CPI (Dec. 2023) = 129.4194.

Apple Quarterly Data

Earnings per Share (Diluted) CPI Adj_EPS
201403 0.415 99.695 0.539
201406 0.320 100.560 0.412
201409 0.355 100.428 0.457
201412 0.765 99.070 0.999
201503 0.583 99.621 0.757
201506 0.463 100.684 0.595
201509 0.490 100.392 0.632
201512 0.820 99.792 1.063
201603 0.475 100.470 0.612
201606 0.355 101.688 0.452
201609 0.418 101.861 0.531
201612 0.840 101.863 1.067
201703 0.525 102.862 0.661
201706 0.418 103.349 0.523
201709 0.518 104.136 0.644
201712 0.973 104.011 1.211
201803 0.683 105.290 0.840
201806 0.585 106.317 0.712
201809 0.728 106.507 0.885
201812 1.045 105.998 1.276
201903 0.615 107.251 0.742
201906 0.545 108.070 0.653
201909 0.758 108.329 0.906
201912 1.250 108.420 1.492
202003 0.640 108.902 0.761
202006 0.650 108.767 0.773
202009 0.730 109.815 0.860
202012 1.680 109.897 1.978
202103 1.400 111.754 1.621
202106 1.300 114.631 1.468
202109 1.240 115.734 1.387
202112 2.100 117.630 2.310
202203 1.520 121.301 1.622
202206 1.200 125.017 1.242
202209 1.290 125.227 1.333
202212 1.880 125.222 1.943
202303 1.520 127.348 1.545
202306 1.260 128.729 1.267
202309 1.460 129.860 1.455
202312 2.180 129.419 2.180

Add all the adjusted EPS together and divide 10 will get our E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Apple  (NAS:AAPL) Shiller PE Ratio Explanation

Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio 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 PE Ratio should give similar results to regular PE Ratio.

Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.


Be Aware

Shiller PE Ratio 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, Shiller PE Ratio and PS Ratio will give false valuations.


Apple Shiller PE Ratio Related Terms

Thank you for viewing the detailed overview of Apple's Shiller PE Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


Apple (AAPL) Business Description

Address
One Apple Park Way, Cupertino, CA, USA, 95014
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.
Executives
Chris Kondo officer: Principal Accounting Officer 1 INFINITE LOOP, CUPERTINO CA 95014
Katherine L. Adams officer: SVP, General Counsel APPLE INC., 1 INFINITE LOOP, CUPERTINO CA 95014
Luca Maestri officer: Senior Vice President, CFO 1 INFINITE LOOP, CUPERTINO CA 95014
Jeffrey E Williams officer: COO ONE INFINITE LOOP, CUPERTINO CA 95014
Deirdre O'brien officer: Senior Vice President ONE APPLE PARK WAY, CUPERTINO CA 95014
Timothy D Cook director, officer: Chief Executive Officer C/O APPLE INC, ONE INFINITE LOOP, CUPERTINO CA 95014
Arthur D Levinson director C/O GENENTECH INC, 1 DNA WAY MS 49, SOUTH SAN FRANCISCO CA 94080-4990
Alex Gorsky director JOHNSON & JOHNSON, ONE JOHNSON & JOHNSON PLAZA, NEW BRUNSWICK NJ 08933
Monica C Lozano director
Angela J Ahrendts officer: Senior Vice President 1 INFINITE LOOP, CUPERTINO CA 95014
Johny Srouji officer: Senior Vice President 1 INFINITE LOOP, CUPERTINO CA 95014
Craig Federighi officer: Senior Vice President 807 11TH AVENUE, SUNNYVALE CA 94089
Daniel J. Riccio officer: Senior Vice President 1 INFINITE LOOP, CUPERTINO CA 95014
Philip W Schiller officer: Senior Vice President C/O APPLE INC, ONE INFINITE LOOP, CUPERTINO CA 95014
Susan Wagner director C/O BLACKROCK, INC., 40 EAST 52ND STREET, NEW YORK NY 10022