Update: dictionary.com says twice a year... it continues with the definition with every two years: Biennial. In Britain, it seems, it might mean both... but in the U.S. biannual means twice a year.
We're talking about the price-to-earnings, or P/E, ratio. The current 12-month forward P/E ratio is 16.8, FactSet's John Butters said on Friday. This P/E ratio is above the 5-year average (13.8) and the 10-year average (14.1).. But just because stocks are expensive relative to their long-term average is no guarantee that prices are doomed to fall immediately.
S&P 500 Cyclically Adjusted Price-Earnings Ratio is at a current level of 24.78, an increase of 0.0870 or 0.35% from last month. This is a decrease of 0.3746 or 1.49% from last year and is higher than the long term average of 16.64. 1  Category: Market Indexes. 2  Region: United States. 3  Report: Shiller S&P 500 PE 10.