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Apple Inc  (NAS:AAPL) Shiller PE Ratio: 23.70 (As of Today)

As of today, Apple Inc's current share price is $170.42. Apple Inc's E10 for the quarter that ended in Dec. 2018 was $7.19. Apple Inc's Shiller P/E Ratio for today is 23.70.

NAS:AAPL' s Shiller PE Ratio Range Over the Past 10 Years
Min: 20.62   Max: 128.38
Current: 23.71

20.62
128.38

During the past years, Apple Inc's highest Shiller P/E Ratio was 128.38. The lowest was 20.62. And the median was 35.52.

NAS:AAPL's Shiller PE Ratio is ranked lower than
58% of the 527 Companies
in the Global industry.

( Industry Median: 26.21 vs. NAS:AAPL: 23.71 )

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.

Apple Inc's adjusted earnings per share data for the three months ended in Dec. 2018 was $4.180. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $7.19 for the trailing ten years ended in Dec. 2018.


Historical Data

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

* Premium members only.

Apple Inc Annual Data

Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18
Shiller PE Ratio Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 34.35 28.76 24.21 27.41 32.80

Apple Inc Quarterly Data

Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18
Shiller PE Ratio Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 28.29 26.40 27.90 32.80 21.94

Competitive Comparison
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap.


Apple Inc Distribution

* The bar in red indicates where Apple Inc's Shiller PE Ratio falls into.



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.

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

Shiller P/E Ratio=Share Price/ E10
=170.42/7.19
=23.70

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

Apple Inc's E10 for the fiscal year that ended in Sep18 is calculated as:

For example, Apple Inc's adjusted earnings per share data for the three months ended in Dec. 2018 was:

Adj_EPS=Earnings per Share (Diluted)/CPI of Dec. 2018 (Change)*Current CPI (Dec. 2018)
=4.18/251.233*251.233
=4.180

Current CPI (Dec. 2018) = 251.233.

Apple Inc Quarterly Data

per_share_eps CPI Adj_EPS
200903 0.256 212.709 0.302
200906 0.287 215.693 0.334
200909 0.397 215.969 0.462
200912 0.524 215.949 0.610
201003 0.476 217.631 0.549
201006 0.501 217.965 0.577
201009 0.663 218.439 0.763
201012 0.919 219.179 1.053
201103 0.914 223.467 1.028
201106 1.113 225.722 1.239
201109 1.007 226.889 1.115
201112 1.981 225.672 2.205
201203 1.757 229.392 1.924
201206 1.331 229.478 1.457
201209 1.241 231.407 1.347
201212 1.973 229.601 2.159
201303 1.441 232.773 1.555
201306 1.070 233.504 1.151
201309 1.190 234.149 1.277
201312 2.070 233.049 2.232
201403 1.660 236.293 1.765
201406 1.280 238.343 1.349
201409 1.420 238.031 1.499
201412 3.060 234.812 3.274
201503 2.330 236.119 2.479
201506 1.850 238.638 1.948
201509 1.970 237.945 2.080
201512 3.280 236.525 3.484
201603 1.900 238.132 2.005
201606 1.420 241.018 1.480
201609 1.690 241.428 1.759
201612 3.360 241.432 3.496
201703 2.100 243.801 2.164
201706 1.670 244.955 1.713
201709 2.070 246.819 2.107
201712 3.890 246.524 3.964
201803 2.730 249.554 2.748
201806 2.340 251.989 2.333
201809 2.920 252.439 2.906
201812 4.180 251.233 4.180

Add all the adjusted EPS together and divide 10 will get our .


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.


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