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Morningstar Shiller PE Ratio

: 50.00 (As of Today)
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As of today (2020-07-10), Morningstar's current share price is USD 149.99. Morningstar's E10 for the quarter that ended in Mar. 2020 was USD 3.00. Morningstar's Shiller PE Ratio for today is 50.00.

NAS:MORN' s Shiller PE Ratio Range Over the Past 10 Years
Min: 30.05   Med: 41.19   Max: 86.04
Current: 49.98

30.05
86.04

During the past years, Morningstar's highest Shiller PE Ratio was 86.04. The lowest was 30.05. And the median was 41.19.

NAS:MORN's Shiller PE Ratio is ranked lower than
86% of the 389 Companies
in the Capital Markets industry.

( Industry Median: 15.63 vs. NAS:MORN: 49.98 )

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Morningstar's adjusted earnings per share data for the three months ended in Mar. 2020 was USD 0.550. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is USD 3.00 for the trailing ten years ended in Mar. 2020.

Shiller PE for Stocks: The True Measure of Stock Valuation


Morningstar Shiller PE Ratio 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.

Morningstar Annual Data
Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
Shiller PE Ratio Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 39.09 31.30 38.18 39.43 50.24

Morningstar Quarterly Data
Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20
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 44.30 49.80 49.14 50.24 38.73

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.


Morningstar Shiller PE Ratio Distribution

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



Morningstar Shiller PE Ratio Calculation

For Shiller PE Ratio, 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 PE Ratio is also called PE10.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Morningstar's Shiller PE Ratio for today is calculated as

Shiller PE Ratio=Share Price/ E10
=149.99/3
=50.00

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

Morningstar's E10 for the quarter that ended in Mar. 2020 is calculated as:

For example, Morningstar's adjusted earnings per share data for the three months ended in Mar. 2020 was:

Adj_EPS=Earnings per Share (Diluted)/CPI of Mar. 2020 (Change)*Current CPI (Mar. 2020)
=0.55/108.1733*108.1733
=0.550

Current CPI (Mar. 2020) = 108.1733.

Morningstar Quarterly Data

Earnings per Share (Diluted) CPI Adj_EPS
201006 0.360 91.981 0.423
201009 0.490 92.277 0.574
201012 0.540 92.914 0.629
201103 0.440 94.890 0.502
201106 0.520 95.319 0.590
201109 0.420 95.529 0.476
201112 0.550 95.632 0.622
201203 0.400 97.075 0.446
201206 0.560 96.661 0.627
201209 0.560 97.595 0.621
201212 0.690 97.158 0.768
201303 0.630 98.107 0.695
201306 0.660 98.557 0.724
201309 0.680 98.536 0.747
201312 0.680 98.692 0.745
201403 0.580 100.023 0.627
201406 -0.220 100.520 -0.237
201409 0.670 100.176 0.723
201412 0.710 98.604 0.779
201503 0.670 99.824 0.726
201506 0.720 100.691 0.774
201509 0.760 100.346 0.819
201512 0.850 99.957 0.920
201603 0.670 100.947 0.718
201606 0.730 101.524 0.778
201609 0.700 101.988 0.742
201612 1.630 102.456 1.721
201703 0.420 103.167 0.440
201706 1.070 103.278 1.121
201709 0.790 104.070 0.821
201712 0.910 104.578 0.941
201803 0.980 105.708 1.003
201806 0.970 106.324 0.987
201809 1.320 106.695 1.338
201812 0.990 106.200 1.008
201903 0.770 107.818 0.773
201906 0.980 108.250 0.979
201909 1.140 108.577 1.136
201912 0.640 108.841 0.636
202003 0.550 108.173 0.550

Add all the adjusted EPS together and divide 10 will get our E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Morningstar  (NAS:MORN) Shiller PE Ratio Explanation

Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio 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 PE Ratio should give similar results to regular PE Ratio.

Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.


Be Aware

Shiller PE Ratio 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, Shiller PE Ratio and PS Ratio will give false valuations.


Morningstar Shiller PE Ratio Related Terms


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