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Plains Exploration & Production Company (NYSE:PXP)
Shiller P/E Ratio
(As of Today)

As of today, Plains Exploration & Production Company's current share price is $0.00. Plains Exploration & Production Company's E10 for the quarter that ended in Mar. 2013 was $0.00. Plains Exploration & Production Company's Shiller P/E Ratio for today is .

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

PXP's Shiller P/E Ratiois ranked higher than
79% of the 1298 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. PXP: 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.

Plains Exploration & Production Company's adjusted earnings per share data for the three months ended in Mar. 2013 was $0.172. 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 $0.00 for the trailing six years ended in Mar. 2013.


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.

Plains Exploration & Production Company's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=0.00/0.00
=

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

Plains Exploration & Production Company's E10 for the fiscal year that ended in Dec12 is calculated as:

For example, Plains Exploration & Production Company's adjusted earnings per share data for the three months ended in Mar. 2013 was:

Adj_EPS=Earnigns per Share/CPI of Mar. 2013*CPI of Current
=0.17/232.773*235.51
=0.172

Since most companies do not have as long as 10 years history, GuruFocus uses 6 years to do the calculation.

Current CPI = 235.51.

Plains Exploration & Production Company Quarterly Data

201012201103201106201109201112201203201206201209201212201303
per share eps -0.1380.4900.870-0.6200.688-0.6401.700-0.4101.4490.170
CPI 219.179223.467225.722226.889225.672229.392229.478231.407229.601232.773
Adj_EPS -0.1480.5160.908-0.6440.718-0.6571.745-0.4171.4860.172
200806200809200812200903200906200909200912201003201006201009
per share eps 1.8404.500-14.3900.0500.3700.3000.3600.4100.3200.130
CPI 218.815218.783210.228212.709215.693215.969215.949217.631217.965218.439
Adj_EPS 1.9804.844-16.1210.0550.4040.3270.3930.4440.3460.140
200706200709200712200803
per share eps 0.3500.4500.9201.430
CPI 208.352208.490210.036213.528
Adj_EPS 0.3960.5081.0321.577

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.

Plains Exploration & Production Company Annual Data

Dec03Dec04Dec05Dec06Dec07Dec08Dec09Dec10Dec11Dec12
ShillerPE 0.000.000.000.000.0047.63104.72106.4135.183,277.78

Plains Exploration & Production Company Quarterly Data

Dec10Mar11Jun11Sep11Dec11Mar12Jun12Sep12Dec12Mar13
ShillerPE 106.4138.8928.8424.1035.1839.110.0056.323,277.783,502.89
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