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

As of today, Schweitzer-Mauduit International, Inc.'s current share price is $40.36. Schweitzer-Mauduit International, Inc.'s E10 for the quarter that ended in Mar. 2015 was $2.36. Schweitzer-Mauduit International, Inc.'s Shiller P/E Ratio for today is 17.10.

SWM' s 10-Year Shiller P/E Ratio Range
Min: 8.3   Max: 73.73
Current: 17.2

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 19.44.

SWM's Shiller P/E Ratiois ranked higher than
79% of the 364 Companies
in the Global Paper & Paper Products industry.

( Industry Median: 0.00 vs. SWM: 17.20 )

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 Mar. 2015 was $0.613. 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 $2.36 for the trailing six years ended in Mar. 2015.


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
=40.36/2.36
=17.10

* 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 Dec14 is calculated as:

For example, Schweitzer-Mauduit International, Inc.'s adjusted earnings per share data for the three months ended in Mar. 2015 was:

Adj_EPS=Earnigns per Share/CPI of Mar. 2015*CPI of Current
=0.61/236.119*237.167
=0.613

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

Current CPI = 237.167.

Schweitzer-Mauduit International, Inc. Quarterly Data

201212201303201306201309201312201403201406201409201412201503
per share eps 0.5320.9600.8400.920-0.3120.7500.8100.7600.6120.610
CPI 229.601232.773233.504234.149233.049236.293238.343238.031234.812236.119
Adj_EPS 0.5500.9780.8530.932-0.3180.7530.8060.7570.6180.613
201006201009201012201103201106201109201112201203201206201209
per share eps 0.3900.4900.3830.4550.5700.2901.4770.4500.6600.870
CPI 217.965218.439219.179223.467225.722226.889225.672229.392229.478231.407
Adj_EPS 0.4240.5320.4140.4830.5990.3031.5520.4650.6820.892
200906200909200912201003
per share eps 0.2250.1350.3060.510
CPI 215.693215.969215.949217.631
Adj_EPS 0.2470.1480.3360.556

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

Dec05Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14
ShillerPE 12.1515.0617.0318.0865.2650.8933.8627.4328.3418.25

Schweitzer-Mauduit International, Inc. Quarterly Data

Dec12Mar13Jun13Sep13Dec13Mar14Jun14Sep14Dec14Mar15
ShillerPE 27.4324.6529.2431.8328.3421.4620.7118.8118.2519.53
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