Shiller Historical PE Ratio By Year
Data updated: January 2025
Shiller PE Ratio Definition
Shiller PE Ratio, also known as cyclically adjusted price-to-earnings ratio (CAPE Ratio) is a measure of value applied to the S&P 500 index of companies. It is defined as the price divided by a moving average of 10 years of earnings, adjusted for inflation. The principle use of the Shiller PE or CAPE PE is for assessing the future equity returns over timescales of 10 years. The Shiller or Cape PE, is also referred to as the PE10.
Calculation Methodology
The Shiller or Cape PE Ratio is calculated by dividing price by a moving average of 10 years earnings. For the latest PE data point where corporate earnings aren't announced, an estimated consensus is used until actuals become available.
Earnings data are inflation adjusted 2025 dollars