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

As of today, M&T Bank Corp's current share price is $105.93. M&T Bank Corp's E10 for the quarter that ended in Sep. 2015 was $6.86. M&T Bank Corp's Shiller P/E Ratio for today is 15.44.

MTB' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 5.64   Max: 27.01
Current: 15.47

5.64
27.01

During the past 13 years, M&T Bank Corp's highest Shiller P/E Ratio was 27.01. The lowest was 5.64. And the median was 15.53.

MTB's Shiller P/E Ratio is ranked lower than
51% of the 682 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 15.24 vs. MTB: 15.47 )

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. 2015 was $1.930. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $6.86 for the trailing ten years ended in Sep. 2015.


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
=105.93/6.86
=15.44

* 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 Dec14 is calculated as:

For example, M&T Bank Corp's adjusted earnings per share data for the three months ended in Sep. 2015 was:

Adj_EPS=Earnigns per Share/CPI of Sep. 2015 (Change)*Current CPI (Sep. 2015)
=1.93/237.945*237.945
=1.930

Current CPI (Sep. 2015) = 237.945.

M&T Bank Corp Quarterly Data

201309201312201403201406201409201412201503201506201509201512
per share eps 2.1101.5601.6101.9801.9101.9201.6501.9801.9301.650
CPI 234.149233.049236.293238.343238.031234.812236.119238.638237.945236.525
Adj_EPS 2.1441.5931.6211.9771.9091.9461.6631.9741.9301.660
201103201106201109201112201203201206201209201212201303201306
per share eps 1.5902.4201.3201.0301.5001.7102.1702.1701.9802.550
CPI 223.467225.722226.889225.672229.392229.478231.407229.601232.773233.504
Adj_EPS 1.6932.5511.3841.0861.5561.7732.2312.2492.0242.598
200809200812200903200906200909200912201003201006201009201012
per share eps 0.8200.9200.4900.3600.9701.0501.1501.4601.4801.590
CPI 218.783210.228212.709215.693215.969215.949217.631217.965218.439219.179
Adj_EPS 0.8921.0410.5480.3971.0691.1571.2571.5941.6121.726
200603200606200609200612200703200706200709200712200803200806
per share eps 1.7701.8701.8501.8801.5701.9501.8300.6101.8201.440
CPI 199.800202.900202.900201.800205.352208.352208.490210.036213.528218.815
Adj_EPS 2.1082.1932.1702.2171.8192.2272.0890.6912.0281.566

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 24.3914.8210.1511.7914.8612.3615.2617.1918.390.00

M&T Bank Corp Quarterly Data

Sep13Dec13Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15
ShillerPE 16.4917.1917.7417.9517.8518.3918.6818.2117.790.00
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