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Schweitzer-Mauduit International, Inc. (NYSE:SWM)
Shiller P/E Ratio
22.00 (As of Today)

As of today, Schweitzer-Mauduit International, Inc.'s current share price is $40.29. Schweitzer-Mauduit International, Inc.'s E10 for the quarter that ended in Dec. 2013 was $1.83. Schweitzer-Mauduit International, Inc.'s Shiller P/E Ratio for today is 22.00.

SWM' s 10-Year Shiller P/E Ratio Range
Min: 8.3   Max: 73.73
Current: 22

8.3
73.73

During the past 13 years, Schweitzer-Mauduit International, Inc.'s highest Shiller P/E Ratio was 73.73. The lowest was 8.30. And the median was 16.90.

SWM's Shiller P/E Ratiois ranked higher than
56% of the 142 Companies
in the Global Paper & Paper Products industry.

( Industry Median: 16.80 vs. SWM: 22.00 )

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.

Schweitzer-Mauduit International, Inc.'s adjusted earnings per share data for the three months ended in Dec. 2013 was $-0.317. 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 $1.83 for the trailing six years ended in Dec. 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.

Schweitzer-Mauduit International, Inc.'s Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=40.29/1.83
=22.02

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

Schweitzer-Mauduit International, Inc.'s E10 for the fiscal year that ended in Dec13 is calculated as:

For example, Schweitzer-Mauduit International, Inc.'s adjusted earnings per share data for the three months ended in Dec. 2013 was:

Adj_EPS=Earnigns per Share/CPI of Dec. 2013*CPI of Current
=-0.312/233.049*236.511
=-0.317

Since most companies do not have as long as 10 years history, here we use 6 years to calculate:

Current CPI = 236.511.

Schweitzer-Mauduit International, Inc. Quarterly Data

201109201112201203201206201209201212201303201306201309201312
per share eps 0.2901.4770.4500.6600.8700.5320.9600.8400.920-0.312
CPI 226.889225.672229.392229.478231.407229.601232.773233.504234.149233.049
Adj_EPS 0.3021.5480.4640.6800.8890.5480.9750.8510.929-0.317
200903200906200909200912201003201006201009201012201103201106
per share eps 0.4350.2250.1350.3060.5100.3900.4900.3830.4550.570
CPI 212.709215.693215.969215.949217.631217.965218.439219.179223.467225.722
Adj_EPS 0.4840.2470.1480.3350.5540.4230.5310.4130.4820.597
200803200806200809200812
per share eps -0.0400.0650.215-0.224
CPI 213.528218.815218.783210.228
Adj_EPS -0.0440.0700.232-0.252

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.

Schweitzer-Mauduit International, Inc. Annual Data

Dec04Dec05Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13
ShillerPE 15.7812.0914.9817.0917.9665.4551.0133.9127.4628.10

Schweitzer-Mauduit International, Inc. Quarterly Data

Sep11Dec11Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13
ShillerPE 36.8433.9133.0329.5925.0327.4624.6729.0131.8928.10
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