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

As of today, M&T Bank Corp's current share price is $114.54. M&T Bank Corp's E10 for the quarter that ended in Jun. 2016 was $6.80. M&T Bank Corp's Shiller P/E Ratio for today is 16.84.

MTB' s Shiller P/E Ratio Range Over the Past 10 Years
Min: 5.64   Max: 25.3
Current: 16.85

5.64
25.3

During the past 13 years, M&T Bank Corp's highest Shiller P/E Ratio was 25.30. The lowest was 5.64. And the median was 15.70.

MTB's Shiller P/E Ratio is ranked higher than
52% of the 494 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 17.76 vs. MTB: 16.85 )

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 Jun. 2016 was $1.980. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $6.80 for the trailing ten years ended in Jun. 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
=114.54/6.80
=16.84

* 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 Jun. 2016 was:

Adj_EPS=Earnigns per Share/CPI of Jun. 2016 (Change)*Current CPI (Jun. 2016)
=1.98/241.038*241.038
=1.980

Current CPI (Jun. 2016) = 241.038.

M&T Bank Corp Quarterly Data

201403201406201409201412201503201506201509201512201603201606
per share eps 1.6101.9801.9101.9201.6501.9801.9301.6201.7301.980
CPI 236.293238.343238.031234.812236.119238.638237.945236.525238.132241.038
Adj_EPS 1.6422.0021.9341.9711.6842.0001.9551.6511.7511.980
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 1.4021.1001.5761.7962.2602.2782.0502.6322.1721.613
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 0.5550.4021.0831.1721.2741.6151.6331.7491.7152.584
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 2.1982.2461.8432.2562.1160.6892.0541.5860.9031.055

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 24.3514.8110.1411.7914.8612.3615.2717.2118.4218.02

M&T Bank Corp Quarterly Data

Mar14Jun14Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16
ShillerPE 17.7717.9817.8818.4218.7118.2517.8218.0216.4317.39
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