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(:) Shiller PE Ratio: (As of Today)

As of today, 's current share price is \$. 's E10 for the quarter that ended in . 20 was \$0.00. '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.

's adjusted earnings per share data of for the fiscal year that ended in was \$. Add all the adjusted EPS for the past 10 years together and divide 10 will get our font class ="def_body_menu" data-url ="e10/EDS/E10/" data-ticker=":">E10, which is \$0.00 for the trailing ten years ended in .

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Annual Data

 Shiller PE Ratio

Semi-Annual Data

 Shiller PE Ratio

Calculation

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.

's Shiller P/E Ratio for today is calculated as

 Shiller P/E Ratio = Share Price / E10 = / =

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

's E10 for the quarter that ended in . 20 is calculated as:

For example, 's adjusted earnings per share data for the fiscal year that ended in was:

 Adj_EPS = Earnings per Share (Diluted) / CPI of (Change) * Current CPI () = / * =

Current CPI () = .

does not have a history long enough to calculate E10. Therefore GuruFocus does not calculate it.

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