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S&P 500 · § III
Shiller CAPE · S&P 500

Shiller CAPE · S&P 500 — Shiller CAPE — The Cycle-Smoothed P/E

Shiller CAPE — Where the ten-year smoothed P/E sits in its century-long range — is the market expensive now.

Uses ten-year inflation-adjusted earnings as the denominator, filtering out business-cycle noise. Historical mean is roughly 17×; today's reading sits near the upper edge of its century-long range.

View the interactive chart Download raw JSON

What this page answers

The latest reading for the Shiller CAPE is 42.2× (2026-07-10). The series starts 1871-02-01 and holds 1873 observations; the long-run mean is 17.5×, the all-time high 44.2× (1999-12-01) and the low 4.8× (1920-12-01).

Uses ten-year inflation-adjusted earnings as the denominator, filtering out business-cycle noise. Historical mean is roughly 17×; today's reading sits near the upper edge of its century-long range. The data is refreshed by the History of Market pipeline and published as a stable JSON endpoint for research, citation, and AI-agent use.

Latest Snapshot

Updated
2026-07-11
Latest value
42.2×2026-07-10
Average
17.5×

Shiller CAPE — year-end readings

Shiller CAPE — year-end readings
DateValue
2026-07-1042.2×
2025-12-0139.8×
2024-12-0137.7×
2023-12-0131.5×
2022-12-0128.3×
2021-12-0138.3×
2020-12-0133.8×
2019-12-0130.3×
2018-12-0128.3×
2017-12-0132.1×
2016-12-0127.9×
2015-12-0126.0×
2014-12-0126.8×
2013-12-0124.9×
2012-12-0121.2×
2011-12-0120.5×
2010-12-0122.4×
2009-12-0120.3×
2008-12-0115.4×
2007-12-0126.0×
2006-12-0127.3×
2005-12-0126.4×
2004-12-0127.1×
2003-12-0126.6×
2002-12-0123.1×
2001-12-0130.5×
2000-12-0137.3×
1999-12-0144.2×
1998-12-0138.8×
1997-12-0133.0×
1996-12-0127.7×
1995-12-0125.0×
1994-12-0119.9×
1993-12-0121.2×
1992-12-0120.5×
1991-12-0118.4×
1990-12-0115.9×
1989-12-0117.7×
1988-12-0114.7×
1987-12-0113.4×
1986-12-0114.1×
1985-12-0111.7×
1984-12-019.6×
1983-12-019.8×
1982-12-018.5×
1981-12-017.8×
1980-12-019.4×
1979-12-018.8×
1978-12-019.0×
1977-12-019.7×
1976-12-0111.6×
1975-12-0110.3×
1974-12-018.3×
1973-12-0113.5×
1972-12-0118.7×
1971-12-0116.6×
1970-12-0115.9×
1969-12-0117.3×
1968-12-0122.3×
1967-12-0121.8×
1966-12-0119.7×
1965-12-0123.7×
1964-12-0122.8×
1963-12-0121.0×
1962-12-0118.6×
1961-12-0122.0×
1960-12-0117.6×
1959-12-0118.6×
1958-12-0117.4×
1957-12-0113.7×
1956-12-0117.2×
1955-12-0118.9×
1954-12-0115.8×
1953-12-0111.8×
1952-12-0112.9×
1951-12-0112.2×
1950-12-0111.3×
1949-12-0110.5×
1948-12-0110.2×
1947-12-0110.7×
1946-12-0111.4×
1945-12-0115.0×
1944-12-0111.6×
1943-12-0110.7×
1942-12-019.6×
1941-12-0110.1×
1940-12-0113.9×
1939-12-0116.3×
1938-12-0115.8×
1937-12-0113.0×
1936-12-0121.1×
1935-12-0116.2×
1934-12-0111.6×
1933-12-0112.3×
1932-12-018.3×
1931-12-019.3×
1930-12-0116.1×
1929-12-0122.0×
1928-12-0125.3×
1927-12-0118.7×
1926-12-0113.0×
1925-12-0111.2×
1924-12-019.3×
1923-12-017.8×
1922-12-018.0×
1921-12-016.1×
1920-12-014.8×
1919-12-016.2×
1918-12-016.1×
1917-12-016.4×
1916-12-0111.4×
1915-12-0112.9×
1914-12-0110.2×
1913-12-0111.2×
1912-12-0113.4×
1911-12-0113.9×
1910-12-0113.7×
1909-12-0114.8×
1908-12-0114.6×
1907-12-0111.3×

Showing the 120 most recent of 1873 observations — the full series is in the JSON: https://historyofmarket.com/api/sp500/pe.json

Static Preview

Shiller CAPE — The Cycle-Smoothed P/E Chart

Data & Source

GET /api/sp500/pe.json — Canonical dataset endpoint.

Yahoo Finance · Macrotrends · Robert Shiller · FRED · S&P Global · Nasdaq · NBER.

FAQ

What is the latest Shiller CAPE reading?

42.2× as of 2026-07-10. The long-run average is 17.5×.

What period does the Shiller CAPE data cover?

1871-02-01 through 2026-07-10 — 1873 observations.

Where does this data come from?

History of Market combines public market and macro datasets including Yahoo Finance, Macrotrends, Robert Shiller, FRED, S&P Global, Nasdaq, and NBER. The exact endpoint for this panel is linked below.

How often is it updated?

Daily-tier datasets refresh after the U.S. market close, with a broader weekly refresh on Sunday. The timestamp shown on this page comes from the JSON payload.

Can I use the data?

Yes, for research and education with attribution to History of Market. Upstream data sources retain their own terms.