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Cyclically adjusted price-to-earnings ratio

stock market valuation measure

Pronunciation
/ˈsɪklɪkəli əˈʤʌstɪd prʌɪs - tə - ˈəːnɪŋz ˈreɪʃɪəʊ/
/ˈsaɪkləkəli əˈʤʌstɪd praɪs - tu - ˈərnɪŋz ˈreɪʃiˌoʊ/
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