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Shiller PE ratio for the SP 500 is based on average inflation-adjusted earnings from the previous 10 years, known as the Cyclically Adjusted PE Ratio (CAPE Ratio), Shiller PE Ratio, or PE 10 .

Current Shiller PE Ratio: 40.08, near historical high of 44.19. Overvaluation is evident from the perspective of the stock market history.
Mean: 17.29
Median: 16.06
Min: 4.78 (Dec 1920)
Max: 44.19 (Dec 1999)