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As of today, Tellabs, Inc.'s current share price is $2.44. Tellabs, Inc.'s E10 for the quarter that ended in Sep. 2013 was $-0.49. Tellabs, Inc.'s Shiller P/E Ratio for today is .
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.
Tellabs, Inc.'s adjusted earnings per share data for the three months ended in Sep. 2013 was $-0.031. 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 $-0.49 for the trailing six years ended in Sep. 2013.
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.
Tellabs, Inc.'s Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
Tellabs, Inc.'s E10 for the fiscal year that ended in Dec12 is calculated as:
For example, Tellabs, Inc.'s adjusted earnings per share data for the three months ended in Sep. 2013 was:
|Adj_EPS||=||Earnigns per Share||/||CPI of Sep. 2013||*||CPI of Current|
Since most companies do not have as long as 10 years history, GuruFocus uses 6 years to do the calculation.
Current CPI = 238.666.
Tellabs, Inc. Quarterly Data
|per share eps||-0.060||-0.380||-0.016||-0.380||-0.010||-0.010||-0.063||-0.160||-0.020||-0.030|
|per share eps||0.032||0.020||0.040||0.070||0.160||0.120||0.160||0.150||-0.030||-0.070|
|per share eps||0.015||0.040||0.100||-2.510|
Add all the adjusted EPS together and divide 6 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.
Tellabs, Inc. Annual Data
Tellabs, Inc. Quarterly Data
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