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Telefonica SA (NYSE:TEF)
Shiller PE Ratio
7.93 (As of Today)

As of today, Telefonica SA's current share price is $11.26. Telefonica SA's E10 for the quarter that ended in Mar. 2017 was $1.42. Telefonica SA's Shiller P/E Ratio for today is 7.93.

TEF' s Shiller PE Ratio Range Over the Past 10 Years
Min: 5.48   Max: 37.67
Current: 7.54


During the past 13 years, Telefonica SA's highest Shiller P/E Ratio was 37.67. The lowest was 5.48. And the median was 11.50.

TEF's Shiller PE Ratio is ranked higher than
86% of the 115 Companies
in the Global Telecom Services industry.

( Industry Median: 17.93 vs. TEF: 7.54 )

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.

Telefonica SA's adjusted earnings per share data for the three months ended in Mar. 2017 was $0.150. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $1.42 for the trailing ten years ended in Mar. 2017.


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.

Telefonica SA'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.

Telefonica SA's E10 for the fiscal year that ended in Dec16 is calculated as:

For example, Telefonica SA's adjusted earnings per share data for the three months ended in Mar. 2017 was:

Adj_EPS=Earnigns per Share/CPI of Mar. 2017 (Change)*Current CPI (Mar. 2017)

Current CPI (Mar. 2017) = 243.985.

Telefonica SA Quarterly Data

per share eps 0.0250.4000.3250.146-0.5120.1000.1570.2130.0110.150
CPI 234.812236.119238.638237.945236.525238.132241.018241.428241.432243.985
Adj_EPS 0.0260.4140.3330.150-0.5280.1030.1590.2160.0110.150
per share eps 0.3640.3990.1050.2590.3300.3210.3560.1940.3130.245
CPI 229.478231.407229.601232.773233.504234.149233.049236.293238.343238.031
Adj_EPS 0.3870.4210.1120.2720.3450.3340.3730.2000.3200.251
per share eps 0.7870.4880.5751.4680.3440.5050.476-0.1240.7630.211
CPI 215.949217.631217.965218.439219.179223.467225.722226.889225.672229.392
Adj_EPS 0.8890.5480.6431.6400.3830.5510.514-0.1330.8250.225
per share eps 0.9811.1810.3290.5121.0780.6170.5810.4700.5600.612
CPI 208.352208.490210.036213.528218.815218.783210.228212.709215.693215.969
Adj_EPS 1.1491.3820.3820.5861.2020.6880.6740.5390.6340.692

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.

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

P/E Ratio, P/B Ratio, P/S Ratio, Price-to-Free-Cash-Flow ratio, E10

Historical Data

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

Telefonica SA Annual Data

ShillerPE 34.2420.1321.1815.3811.147.067.847.957.216.53

Telefonica SA Quarterly Data

ShillerPE 7.958.788.337.
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