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M&T Bank Corp (NYSE:MTB)
Shiller P/E Ratio
21.57 (As of Today)

As of today, M&T Bank Corp's current share price is $147.34. M&T Bank Corp's E10 for the quarter that ended in Sep. 2016 was $6.83. M&T Bank Corp's Shiller P/E Ratio for today is 21.57.

MTB' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 5.65   Max: 24.83
Current: 21.42

5.65
24.83

During the past 13 years, M&T Bank Corp's highest Shiller P/E Ratio was 24.83. The lowest was 5.65. And the median was 15.68.

MTB's Shiller P/E Ratio is ranked lower than
55% of the 502 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 20.35 vs. MTB: 21.42 )

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

M&T Bank Corp's adjusted earnings per share data for the three months ended in Sep. 2016 was $2.100. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $6.83 for the trailing ten years ended in Sep. 2016.


Definition

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

M&T Bank Corp's Shiller P/E Ratio for today is calculated as

Shiller P/E Ratio=Share Price/E10
=147.34/6.83
=21.57

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

M&T Bank Corp's E10 for the fiscal year that ended in Dec15 is calculated as:

For example, M&T Bank Corp's adjusted earnings per share data for the three months ended in Sep. 2016 was:

Adj_EPS=Earnigns per Share/CPI of Sep. 2016 (Change)*Current CPI (Sep. 2016)
=2.1/241.428*241.428
=2.100

Current CPI (Sep. 2016) = 241.428.

M&T Bank Corp Quarterly Data

201406201409201412201503201506201509201512201603201606201609
per share eps 1.9801.9101.9201.6501.9801.9301.6201.7301.9802.100
CPI 238.343238.031234.812236.119238.638237.945236.525238.132241.018241.428
Adj_EPS 2.0061.9371.9741.6872.0031.9581.6541.7541.9832.100
201112201203201206201209201212201303201306201309201312201403
per share eps 1.0301.5001.7102.1702.1701.9802.5502.1101.5601.610
CPI 225.672229.392229.478231.407229.601232.773233.504234.149233.049236.293
Adj_EPS 1.1021.5791.7992.2642.2822.0542.6372.1761.6161.645
200906200909200912201003201006201009201012201103201106201109
per share eps 0.3600.9701.0501.1501.4601.4801.5901.5902.4201.320
CPI 215.693215.969215.949217.631217.965218.439219.179223.467225.722226.889
Adj_EPS 0.4031.0841.1741.2761.6171.6361.7511.7182.5881.405
200612200703200706200709200712200803200806200809200812200903
per share eps 1.8801.5701.9501.8300.6001.8201.4400.8200.9200.490
CPI 201.800205.352208.352208.490210.036213.528218.815218.783210.228212.709
Adj_EPS 2.2491.8462.2602.1190.6902.0581.5890.9051.0570.556

Add all the adjusted EPS together and divide 10 will get our E10.


Explanation

Compared with the regular P/E ratio, which works poorly for cyclical businesses, the Shiller P/E smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Shiller P/E should give similar results to regular P/E.

Compared with the P/S ratio, the Shiller P/E makes the comparison between different industries more meaningful.


Be Aware

The Shiller P/E assumes that over the long term, businesses and profitability revert to their means. If a company’s business model does not work in the future compared with the past, the Shiller P/E and P/S ratio will give false valuations.


Related Terms

P/E Ratio, P/B Ratio, P/S Ratio, Price-to-Free-Cash-Flow ratio, E10


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

M&T Bank Corp Annual Data

Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15
ShillerPE 24.3914.8410.1711.8214.7612.2815.1817.2718.4817.91

M&T Bank Corp Quarterly Data

Jun14Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16Sep16
ShillerPE 17.8717.9418.4818.5918.1317.8817.9116.5017.2917.00
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