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

As of today, M&T Bank Corp's current share price is $113.36. M&T Bank Corp's E10 for the quarter that ended in Mar. 2016 was $6.84. M&T Bank Corp's Shiller P/E Ratio for today is 16.57.

MTB' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 5.62   Max: 25.4
Current: 16.56

5.62
25.4

During the past 13 years, M&T Bank Corp's highest Shiller P/E Ratio was 25.40. The lowest was 5.62. And the median was 15.66.

MTB's Shiller P/E Ratio is ranked higher than
52% of the 491 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 17.16 vs. MTB: 16.56 )

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 Mar. 2016 was $1.730. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $6.84 for the trailing ten years ended in Mar. 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
=113.36/6.84
=16.57

* All numbers are in millions except for per share data and ratio. All numbers are in their own 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 Mar. 2016 was:

Adj_EPS=Earnigns per Share/CPI of Mar. 2016 (Change)*Current CPI (Mar. 2016)
=1.73/238.132*238.132
=1.730

Current CPI (Mar. 2016) = 238.132.

M&T Bank Corp Quarterly Data

201403201406201409201412201503201506201509201512201603201606
per share eps 1.6101.9801.9101.9201.6501.9801.9301.6201.7301.980
CPI 236.293238.343238.031234.812236.119238.638237.945236.525238.132240.724
Adj_EPS 1.6231.9781.9111.9471.6641.9761.9321.6311.7301.959
201109201112201203201206201209201212201303201306201309201312
per share eps 1.3201.0301.5001.7102.1702.1701.9802.5502.1101.560
CPI 226.889225.672229.392229.478231.407229.601232.773233.504234.149233.049
Adj_EPS 1.3851.0871.5571.7742.2332.2512.0262.6012.1461.594
200903200906200909200912201003201006201009201012201103201106
per share eps 0.4900.3600.9701.0501.1501.4601.4801.5901.5902.420
CPI 212.709215.693215.969215.949217.631217.965218.439219.179223.467225.722
Adj_EPS 0.5490.3971.0701.1581.2581.5951.6131.7271.6942.553
200609200612200703200706200709200712200803200806200809200812
per share eps 1.8501.8801.5701.9501.8300.6001.8201.4400.8200.920
CPI 202.900201.800205.352208.352208.490210.036213.528218.815218.783210.228
Adj_EPS 2.1712.2181.8212.2292.0900.6802.0301.5670.8931.042

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 own currency.

M&T Bank Corp Annual Data

Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15
ShillerPE 24.2714.8810.2011.8514.8012.3215.2217.1518.5317.96

M&T Bank Corp Quarterly Data

Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16
ShillerPE 17.7117.9217.8218.5318.6518.1917.7617.9616.230.00
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