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As of today, Sonic Corp's current share price is $30.52. Sonic Corp's E10 for the quarter that ended in Feb. 2016 was $0.82. Sonic Corp's Shiller P/E Ratio for today is 37.22.
During the past 13 years, Sonic Corp's highest Shiller P/E Ratio was 46.65. The lowest was 8.82. And the median was 21.28.
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.
Sonic Corp's adjusted earnings per share data for the three months ended in Feb. 2016 was $0.220. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $0.82 for the trailing ten years ended in Feb. 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.
Sonic Corp's Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
Sonic Corp's E10 for the fiscal year that ended in Aug15 is calculated as:
For example, Sonic Corp's adjusted earnings per share data for the three months ended in Feb. 2016 was:
|Adj_EPS||=||Earnigns per Share||/||CPI of Feb. 2016 (Change)||*||Current CPI (Feb. 2016)|
Current CPI (Feb. 2016) = 237.111.
Sonic Corp Quarterly Data
|per share eps||0.140||0.070||0.300||0.340||0.180||0.140||0.380||0.497||0.240||0.220|
|per share eps||-0.080||0.198||0.090||0.030||0.240||0.248||0.110||0.060||0.260||0.212|
|per share eps||0.120||0.140||0.270||0.275||0.100||-0.010||0.180||0.075||0.120||0.070|
|per share eps||0.270||0.292||0.190||0.090||0.310||0.335||0.220||0.150||0.280||0.329|
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.
Sonic Corp Annual Data
Sonic Corp Quarterly Data