SHILLER_EARNINGS
Shiller's monthly S&P earnings — used to compute CAPE
Official name: Shiller S&P Earnings
Latest value
277.7000
as of 2026-03-01
All-time percentile
100th
1-year change
+28.2%
Time series
Showing 20 of 20 data points
About this series
Monthly earnings per share for the S&P Composite index, Shiller's dataset. Matches the Shiller price series back to 1871. Used as the numerator in earnings yield and the base for CAPE's 10-year smoothing.
Why it matters: This is how Shiller computes his CAPE — 10-year real average of this series, divided into real price. Also useful on its own as a long-horizon earnings trend reference.
How to read it: Year-over-year growth tells you the short-term earnings cycle; the 10-year trend tells you the structural growth rate. Not really a tradable signal — more a research input.
Caveats: Earnings definitions have changed multiple times historically (most notably the shift from operating to GAAP-like standards in the 1990s). Cross-era comparisons should be done with care.