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As of today, Zoltek Companies, Inc.'s current share price is $16.73. Zoltek Companies, Inc.'s E10 for the quarter that ended in Dec. 2013 was $0.08. Zoltek Companies, Inc.'s Shiller P/E Ratio for today is 209.13.
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.
Zoltek Companies, Inc.'s adjusted earnings per share data for the three months ended in Dec. 2013 was $-0.070. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $0.08 for the trailing ten years ended in Dec. 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.
Zoltek Companies, Inc.'s Shiller P/E Ratio for today is calculated as
|Shiller P/E Ratio||=||Share Price||/||E10|
Zoltek Companies, Inc.'s E10 for the fiscal year that ended in Sep13 is calculated as:
For example, Zoltek Companies, 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 (Change)||*||Current CPI (Dec. 2013)|
Current CPI (Dec. 2013) = 233.049.
Zoltek Companies, Inc. Quarterly Data
|per share eps||0.133||0.280||0.100||0.160||0.123||0.090||0.090||-0.030||-0.004||-0.070|
|per share eps||0.010||-0.040||-0.110||-0.010||-0.140||-0.010||-0.012||-0.050||-0.150||-0.040|
|per share eps||-0.891||-0.230||0.000||0.170||-0.058||0.080||0.130||0.070||-0.052||0.020|
|per share eps||-0.590||-0.120||-0.619||-1.820||-0.230||-0.140||-0.582||0.030||-1.310||-0.910|
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.
Zoltek Companies, Inc. Annual Data
Zoltek Companies, Inc. Quarterly Data
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