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

As of today, M&T Bank Corp's current share price is $113.48. 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 16.59.

MTB' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 5.64   Max: 26.47
Current: 16.59

5.64
26.47

During the past 13 years, M&T Bank Corp's highest Shiller P/E Ratio was 26.47. The lowest was 5.64. And the median was 15.68.

MTB's Shiller P/E Ratio is ranked higher than
50% of the 504 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 16.55 vs. MTB: 16.59 )

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
=113.48/6.84
=16.59

* 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

201312201403201406201409201412201503201506201509201512201603
per share eps 1.5601.6101.9801.9101.9221.6501.9801.9301.6441.730
CPI 233.049236.293238.343238.031234.812236.119238.638237.945236.525238.132
Adj_EPS 1.5941.6231.9781.9111.9491.6641.9761.9321.6551.730
201106201109201112201203201206201209201212201303201306201309
per share eps 2.4201.3201.6651.5001.7102.1701.7221.9802.5502.110
CPI 225.722226.889225.672229.392229.478231.407229.601232.773233.504234.149
Adj_EPS 2.5531.3851.7571.5571.7742.2331.7862.0262.6012.146
200812200903200906200909200912201003201006201009201012201103
per share eps 0.9170.4900.3600.9701.0241.1501.4601.4801.5871.590
CPI 210.228212.709215.693215.969215.949217.631217.965218.439219.179223.467
Adj_EPS 1.0390.5490.3971.0701.1291.2581.5951.6131.7241.694
200606200609200612200703200706200709200712200803200806200809
per share eps 1.8701.8501.8841.5701.9501.8300.5961.8201.4400.820
CPI 202.900202.900201.800205.352208.352208.490210.036213.528218.815218.783
Adj_EPS 2.1952.1712.2231.8212.2292.0900.6762.0301.5670.893

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 24.3414.8110.1411.7914.8712.1415.2517.1918.3917.98

M&T Bank Corp Quarterly Data

Dec13Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15Mar16
ShillerPE 17.1917.7417.9517.8518.3918.6818.2117.7917.9816.24
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