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M&T Bank (MTB) Financials

M&T Bank logo
$198.72 +0.89 (+0.45%)
Closing price 09/12/2025 03:59 PM Eastern
Extended Trading
$202.40 +3.68 (+1.85%)
As of 09/12/2025 06:41 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for M&T Bank

Annual Income Statements for M&T Bank

This table shows M&T Bank's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 1,066 1,080 1,315 1,328 1,836 1,850 1,353 1,859 1,992 2,741 2,588
Consolidated Net Income / (Loss)		 1,066 1,080 1,315 1,408 1,918 1,929 1,353 1,859 1,992 2,741 2,588
Net Income / (Loss) Continuing Operations		 1,066 1,080 1,315 1,408 1,918 1,929 1,353 1,859 1,992 2,741 2,588
Total Pre-Tax Income 		1,642 1,675 2,058 2,324 2,508 2,547 1,770 2,455 2,612 3,619 3,310
Total Revenue		 4,456 4,668 5,296 5,632 5,928 6,192 5,955 5,992 8,179 9,643 9,279
Net Interest Income / (Expense)		 2,676 2,843 3,470 3,781 4,072 4,130 3,866 3,825 5,822 7,115 6,852
Total Interest Income		 2,957 3,171 3,896 4,168 4,599 4,880 4,193 3,939 6,247 10,224 11,026
Loans and Leases Interest Income		 2,597 2,778 3,485 3,743 4,165 4,442 3,975 3,749 5,237 8,021 8,477
Investment Securities Interest Income		 346 376 364 363 325 289 177 141 499 839 1,094
Deposits and Money Market Investments Interest Income		 13 15 46 61 108 141 33 48 509 1,360 1,452
Other Interest Income		 1.18 1.02 1.21 1.01 1.39 7.16 8.05 1.00 2.00 4.00 3.00
Total Interest Expense		 280 328 426 387 526 749 326 114 425 3,109 4,174
Deposits Interest Expense		 63 74 191 196 272 485 217 52 295 2,417 3,295
Short-Term Borrowings Interest Expense		 0.10 1.68 3.63 1.51 5.39 25 0.03 0.00 19 292 242
Long-Term Debt Interest Expense		 217 253 231 189 249 239 109 62 111 400 637
Total Non-Interest Income		 1,779 1,825 1,826 1,851 1,856 2,062 2,088 2,167 2,357 2,528 2,427
Trust Fees by Commissions		 575 535 63 61 51 49 47 63 829 782 796
Service Charges on Deposit Accounts		 - - - - - - - - 447 475 514
Other Service Charges		 1,174 1,259 426 441 451 469 471 483 703 809 632
Net Realized & Unrealized Capital Gains on Investments		 30 30 71 57 26 80 31 3.00 21 53 49
Other Non-Interest Income		 - - 1,265 1,293 1,327 1,463 1,539 1,618 357 409 436
Provision for Credit Losses		 124 170 190 168 132 176 800 -75 517 645 610
Total Non-Interest Expense		 2,689 2,823 3,047 3,140 3,288 3,469 3,385 3,612 5,050 5,379 5,359
Salaries and Employee Benefits		 1,405 1,550 1,618 1,649 1,752 1,901 1,951 2,046 2,787 2,997 3,162
Net Occupancy & Equipment Expense		 421 437 468 480 498 554 581 619 850 957 1,004
Marketing Expense		 47 59 87 69 86 93 62 64 90 108 104
Property & Liability Insurance Claims		 56 52 105 102 69 42 54 70 90 315 146
Other Operating Expenses		 727 699 727 809 859 860 723 803 1,177 940 890
Amortization Expense		 34 26 43 31 25 19 15 10 56 62 53
Income Tax Expense		 576 595 743 916 590 618 416 596 620 878 722
Basic Earnings per Share		 $7.47 $7.22 $7.80 $8.72 $12.75 $13.76 $9.94 $13.81 $11.59 $15.85 $14.71
Weighted Average Basic Shares Outstanding		 130.95M 136.80M 156.78M 152.16M 143.99M 130.44M 128.64M 129.03M 167.79M 166.62M 164.33M
Diluted Earnings per Share		 $7.42 $7.18 $7.78 $8.70 $12.74 $13.75 $9.94 $13.80 $11.53 $15.79 $14.64
Weighted Average Diluted Shares Outstanding		 130.95M 136.80M 156.78M 152.16M 143.99M 130.44M 128.64M 129.03M 167.79M 166.62M 164.33M
Weighted Average Basic & Diluted Shares Outstanding		 130.95M 136.80M 156.78M 152.16M 143.99M 130.44M 128.64M 129.03M 167.79M 166.62M 164.33M
Cash Dividends to Common per Share		 $2.80 $2.80 - - - - - - $4.80 $5.20 $5.35

Quarterly Income Statements for M&T Bank

This table shows M&T Bank's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 766 702 841 690 508 531 626 721 710 584 679
Consolidated Net Income / (Loss)		 766 702 867 690 482 531 655 721 681 584 716
Net Income / (Loss) Continuing Operations		 766 702 867 690 482 531 655 721 681 584 716
Total Pre-Tax Income 		1,012 926 1,159 907 627 664 855 909 882 761 935
Total Revenue		 2,509 2,405 2,602 2,335 2,301 2,260 2,302 2,332 2,385 2,306 2,396
Net Interest Income / (Expense)		 1,827 1,818 1,799 1,775 1,723 1,680 1,718 1,726 1,728 1,695 1,713
Total Interest Income		 2,072 2,327 2,516 2,641 2,740 2,745 2,789 2,785 2,707 2,560 2,609
Loans and Leases Interest Income		 1,664 1,850 1,998 2,062 2,111 2,097 2,128 2,153 2,099 2,006 2,054
Investment Securities Interest Income		 170 198 215 215 211 228 260 283 323 336 334
Deposits and Money Market Investments Interest Income		 237 278 302 363 417 419 400 348 285 218 219
Other Interest Income		 0.73 1.00 1.00 1.00 1.00 1.00 1.00 1.00 - 0.00 2.00
Total Interest Expense		 245 509 717 866 1,017 1,065 1,071 1,059 979 865 896
Deposits Interest Expense		 188 366 519 696 836 840 835 835 785 676 702
Short-Term Borrowings Interest Expense		 13 58 96 69 69 84 69 57 32 32 37
Long-Term Debt Interest Expense		 44 85 102 101 112 141 167 167 162 157 157
Total Non-Interest Income		 682 587 803 560 578 580 584 606 657 611 683
Trust Fees by Commissions		 764 24 197 182 379 189 200 202 365 209 213
Service Charges on Deposit Accounts		 - - 119 121 - 124 127 132 - 133 137
Other Service Charges		 266 159 362 143 145 152 152 152 176 142 191
Net Realized & Unrealized Capital Gains on Investments		 10 12 18 9.00 14 11 -1.00 11 28 9.00 12
Other Non-Interest Income		 -805 392 107 105 -195 104 106 109 -167 118 130
Provision for Credit Losses		 90 120 150 150 225 200 150 120 140 130 125
Total Non-Interest Expense		 1,408 1,359 1,293 1,278 1,449 1,396 1,297 1,303 1,363 1,415 1,336
Salaries and Employee Benefits		 697 808 738 727 724 833 764 775 790 887 813
Net Occupancy & Equipment Expense		 244 233 235 242 247 249 249 248 258 268 268
Marketing Expense		 32 31 28 23 26 20 27 27 30 22 25
Property & Liability Insurance Claims		 24 30 28 29 228 60 37 25 24 23 22
Other Operating Expenses		 393 240 249 242 209 219 207 216 248 202 199
Amortization Expense		 18 17 15 15 15 15 13 12 13 13 9.00
Income Tax Expense		 246 224 292 217 145 133 200 188 201 177 219
Basic Earnings per Share		 $4.33 $4.03 $5.07 $4.00 $2.75 $3.04 $3.75 $4.04 $3.88 $3.33 $4.26
Weighted Average Basic Shares Outstanding		 167.79M 167.73M 165.84M 165.91M 166.62M 166.46M 166.95M 166.67M 164.33M 164.21M 159.22M
Diluted Earnings per Share		 $4.30 $4.01 $5.05 $3.98 $2.75 $3.02 $3.73 $4.02 $3.87 $3.32 $4.24
Weighted Average Diluted Shares Outstanding		 167.79M 168.41M 166.32M 166.57M 166.62M 167.08M 167.66M 167.57M 164.33M 165.05M 160.01M
Weighted Average Basic & Diluted Shares Outstanding		 167.79M 165.87M 165.95M 165.96M 166.62M 166.85M 167.00M 165.92M 164.33M 160.52M 156.27M
Cash Dividends to Common per Share		 - - - $1.30 - $1.30 $1.35 $1.35 - $1.35 $1.35

Annual Cash Flow Statements for M&T Bank

This table details how cash moves in and out of M&T Bank's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -300 -5.32 -47 100 185 -169 116 -215 182 211 178
Net Cash From Operating Activities		 1,099 1,742 1,183 2,782 2,090 2,358 789 2,715 4,574 3,905 3,610
Net Cash From Continuing Operating Activities		 1,099 1,742 1,183 2,782 2,090 2,358 789 2,724 4,574 3,905 3,610
Net Income / (Loss) Continuing Operations		 1,066 1,080 1,315 1,408 1,918 1,929 1,353 1,859 1,992 2,741 2,588
Consolidated Net Income / (Loss)		 1,066 1,080 1,315 1,408 1,918 1,929 1,353 1,859 1,992 2,741 2,588
Provision For Loan Losses		 124 170 190 168 132 176 800 -75 517 645 610
Depreciation Expense		 96 99 107 110 105 210 221 224 282 304 316
Amortization Expense		 102 76 94 88 74 91 100 100 153 193 192
Non-Cash Adjustments to Reconcile Net Income		 94 338 132 363 1.27 97 -30 94 -175 -342 -17
Changes in Operating Assets and Liabilities, net		 -383 -20 -654 646 -141 -146 -1,655 522 1,805 364 -79
Net Cash From Investing Activities		 -11,710 7,714 -721 3,395 -1,410 727 -22,020 -13,631 16,592 -7,874 -550
Net Cash From Continuing Investing Activities		 -11,710 7,714 -721 3,395 -1,410 727 -22,020 -13,631 16,592 -7,874 -550
Purchase of Investment Securities		 -12,717 -1,628 -4,245 -1,966 -4,794 -3,561 -23,926 2,707 12,702 -11,075 -8,531
Sale and/or Maturity of Investments		 1,491 8,894 3,355 5,324 3,127 4,758 2,661 -16,141 2,311 2,927 8,007
Other Investing Activities, net		 -485 448 170 38 355 -470 -755 -197 1,579 274 -26
Net Cash From Financing Activities		 10,312 -9,462 -510 -6,077 -495 -3,254 21,348 10,701 -20,984 4,180 -2,882
Net Cash From Continuing Financing Activities		 10,312 -9,462 -510 -6,077 -495 -3,254 21,348 10,701 -20,984 4,180 -2,882
Net Change in Deposits		 6,467 504 3,555 -3,075 -2,273 4,616 25,037 11,738 -20,994 -248 -2,182
Issuance of Debt		 4,345 1,500 -1,937 2,158 6,014 0.00 0.00 10 999 5,035 5,497
Issuance of Preferred Equity		 347 0.00 495 - 0.00 396 0.00 495 0.00 0.00 733
Repayment of Debt		 -494 -11,080 -1,120 -3,433 -1,459 -5,890 -2,668 -866 1,706 937 -5,265
Repurchase of Preferred Equity		 0.00 0.00 -500 - 0.00 -382 - - 0.00 0.00 -350
Repurchase of Common Equity		 0.00 0.00 -641 -1,206 -2,194 -1,350 -374 0.00 -1,800 -594 -396
Payment of Dividends		 -441 -456 -523 -530 -583 -620 -636 -648 -881 -968 -1,033
Other Financing Activities, Net		 89 70 162 11 - -25 -11 -28 -14 18 114
Other Net Changes in Cash		 - - - - - - - 0.00 - 0.00 0.00
Cash Interest Paid		 258 400 499 405 516 736 372 139 429 2,691 4,319
Cash Interest Received		 2,893 3,134 3,903 4,156 4,569 4,892 4,136 3,977 6,135 10,092 11,077
Cash Income Taxes Paid		 412 379 277 494 375 321 276 314 488 452 236

Quarterly Cash Flow Statements for M&T Bank

This table details how cash moves in and out of M&T Bank's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 -736 298 30 -79 -38 -36 83 438 -307 200 19
Net Cash From Operating Activities		 954 428 1,257 1,420 800 608 1,354 -28 1,676 635 844
Net Cash From Continuing Operating Activities		 954 428 1,257 1,420 800 608 1,354 -28 1,676 635 844
Net Income / (Loss) Continuing Operations		 766 702 867 690 482 531 655 721 681 584 716
Consolidated Net Income / (Loss)		 766 702 867 690 482 531 655 721 681 584 716
Provision For Loan Losses		 90 120 150 150 225 200 150 120 140 130 125
Depreciation Expense		 62 76 73 78 77 80 79 76 81 83 81
Amortization Expense		 40 37 52 52 52 50 48 46 48 47 43
Non-Cash Adjustments to Reconcile Net Income		 -78 0.00 -240 -41 -61 7.00 -12 -4.00 -8.00 -8.00 -43
Changes in Operating Assets and Liabilities, net		 74 -507 355 491 25 -260 434 -987 734 -201 -78
Net Cash From Investing Activities		 -3,666 -1,747 -4,903 -1,907 683 -7,082 5,625 -1,386 2,293 -2,132 -853
Net Cash From Continuing Investing Activities		 -3,666 -1,747 -4,903 -1,907 683 -7,082 5,625 -1,386 2,293 -2,132 -853
Purchase of Investment Securities		 21,059 -5,549 -1,997 2,187 -5,716 -8,979 -218 -4,107 1,242 -3,542 -3,265
Sale and/or Maturity of Investments		 -24,585 3,595 -2,985 -4,113 6,430 1,816 5,771 2,688 1,263 1,689 2,845
Other Investing Activities, net		 254 207 79 19 -31 81 72 33 -212 -279 -433
Net Cash From Financing Activities		 1,976 1,617 3,676 408 -1,521 6,438 -6,896 1,852 -4,276 1,697 28
Net Cash From Continuing Financing Activities		 1,976 1,617 3,676 408 -1,521 6,438 -6,896 1,852 -4,276 1,697 28
Net Change in Deposits		 -330 -4,441 2,986 2,063 -856 3,921 -7,287 4,643 -3,459 4,314 -957
Issuance of Debt		 524 3,486 4,353 -631 -2,173 3,357 -552 1,198 1,494 1,256 2,541
Repayment of Debt		 2,613 3,440 -3,440 -781 1,718 -570 408 -3,227 -1,876 -2,950 -215
Repurchase of Common Equity		 -600 -594 - - - 0.00 - -198 -198 -656 -1,069
Payment of Dividends		 -221 -255 -231 -249 -233 -255 -249 -274 -255 -266 -243
Other Financing Activities, Net		 -9.81 -19 8.00 6.00 23 -15 51 60 18 -1.00 -29
Cash Interest Paid		 214 410 513 856 912 999 1,116 1,179 1,025 933 811
Cash Interest Received		 1,990 2,289 2,525 2,615 2,663 2,716 2,831 2,776 2,754 2,605 2,634
Cash Income Taxes Paid		 125 22 307 102 21 41 65 134 -4.00 70 80

Annual Balance Sheets for M&T Bank

This table presents M&T Bank's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 96,686 122,788 123,449 118,593 120,097 119,873 142,601 155,107 200,730 208,264 208,105
Cash and Due from Banks		 1,290 1,368 1,321 1,421 1,605 1,433 1,553 1,338 1,517 1,731 1,909
Interest Bearing Deposits at Other Banks		 6,471 7,594 5,001 5,079 8,105 7,190 23,664 41,872 24,959 28,069 18,873
Trading Account Securities		 13,302 15,930 16,113 14,797 12,693 9,967 8,114 7,206 25,329 27,003 34,152
Loans and Leases, Net of Allowance		 65,749 86,534 89,864 86,972 87,447 89,872 96,799 91,443 129,639 131,939 133,397
Loans and Leases		 66,669 87,489 90,853 87,989 88,466 90,923 98,536 92,912 131,564 134,068 135,581
Allowance for Loan and Lease Losses		 920 956 989 1,017 1,019 1,051 1,736 1,469 1,925 2,129 2,184
Premises and Equipment, Net		 613 667 675 646 647 1,141 1,162 1,145 1,654 1,739 1,705
Goodwill		 3,525 4,593 4,593 4,593 4,593 4,593 4,593 4,593 8,490 8,465 8,465
Intangible Assets		 35 140 98 72 47 29 14 4.00 209 147 94
Other Assets		 5,618 5,962 5,323 5,013 4,774 5,644 6,702 7,507 8,930 9,171 9,510
Total Liabilities & Shareholders' Equity		 96,686 122,788 123,449 118,593 120,097 119,873 142,601 155,107 200,730 208,264 208,105
Total Liabilities		 84,350 106,615 106,963 102,343 104,637 104,156 126,414 137,204 175,412 181,307 179,078
Non-Interest Bearing Deposits		 26,948 29,111 32,814 33,975 32,257 32,396 47,573 60,131 65,502 49,294 46,020
Interest Bearing Deposits		 46,634 62,847 62,680 58,457 57,900 62,374 72,233 71,412 98,013 113,980 115,075
Short-Term Debt		 0.00 1,982 163 175 4,398 62 59 47 3,555 5,316 1,060
Long-Term Debt		 9,007 10,654 9,494 8,141 8,445 6,986 4,382 3,485 3,965 8,201 12,605
Other Long-Term Liabilities		 1,568 1,871 1,811 1,594 1,637 2,337 2,166 2,128 4,377 4,516 4,318
Total Equity & Noncontrolling Interests		 12,336 16,173 16,487 16,251 15,460 15,717 16,187 17,903 25,318 26,957 29,027
Total Preferred & Common Equity		 12,336 16,173 16,487 16,251 15,460 15,717 16,187 17,903 25,318 26,957 29,027
Preferred Stock		 1,232 1,232 1,232 1,232 1,232 1,250 1,250 1,750 2,011 2,011 2,394
Total Common Equity		 11,104 14,942 15,255 15,019 14,229 14,467 14,937 16,153 23,307 24,946 26,633
Common Stock		 3,478 6,763 6,759 6,673 6,661 6,675 6,699 6,716 10,093 10,111 10,089
Retained Earnings		 7,807 8,431 9,222 10,165 11,517 12,821 13,444 14,646 15,754 17,524 19,079
Treasury Stock		 - 0.00 -432 -1,454 -3,529 -4,823 -5,143 -5,082 -1,750 -2,230 -2,371
Accumulated Other Comprehensive Income / (Loss)		 -181 -252 -295 -364 -420 -207 -63 -128 -790 -459 -164

Quarterly Balance Sheets for M&T Bank

This table presents M&T Bank's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets		 200,730 202,956 207,672 209,124 208,264 215,137 208,855 211,785 208,105 210,321 211,584
Cash and Due from Banks		 1,517 1,818 1,848 1,769 1,731 1,695 1,778 2,216 1,909 2,109 2,128
Interest Bearing Deposits at Other Banks		 24,959 22,306 27,107 30,114 28,069 32,144 24,792 24,417 18,873 20,656 19,297
Trading Account Securities		 25,329 28,608 28,054 27,473 27,003 28,595 29,993 32,429 34,152 35,233 35,661
Loans and Leases, Net of Allowance		 129,639 130,963 131,345 130,303 131,939 132,782 132,798 133,716 133,397 132,374 133,919
Loans and Leases		 131,564 132,938 133,344 132,355 134,068 134,973 135,002 135,920 135,581 134,574 136,116
Allowance for Loan and Lease Losses		 1,925 1,975 1,998 2,052 2,129 2,191 2,204 2,204 2,184 2,200 2,197
Premises and Equipment, Net		 1,654 1,664 1,673 1,681 1,739 1,707 1,719 1,694 1,705 1,661 1,646
Goodwill		 8,490 8,490 8,465 8,465 8,465 8,465 8,465 8,465 8,465 8,465 8,465
Intangible Assets		 209 192 177 162 147 132 119 107 94 93 84
Other Assets		 8,930 8,915 9,002 9,157 9,171 9,617 9,191 8,741 9,510 9,730 10,384
Total Liabilities & Shareholders' Equity		 200,730 202,956 207,672 209,124 208,264 215,137 208,855 211,785 208,105 210,321 211,584
Total Liabilities		 175,412 177,579 181,871 182,928 181,307 187,968 180,431 182,909 179,078 181,330 183,059
Non-Interest Bearing Deposits		 65,502 59,955 54,938 53,787 49,294 50,578 47,729 47,344 46,020 49,051 47,485
Interest Bearing Deposits		 98,013 99,120 107,120 110,341 113,980 116,618 112,181 117,210 115,075 116,358 116,968
Short-Term Debt		 3,555 6,995 7,908 6,731 5,316 4,795 4,764 2,605 1,060 1,573 2,071
Long-Term Debt		 3,965 7,463 7,417 7,123 8,201 11,450 11,319 11,583 12,605 10,496 12,380
Other Long-Term Liabilities		 4,377 4,046 4,488 4,946 4,516 4,527 4,438 4,167 4,318 3,852 4,155
Total Equity & Noncontrolling Interests		 25,318 25,377 25,801 26,197 26,957 27,169 28,424 28,876 29,027 28,991 28,525
Total Preferred & Common Equity		 25,318 25,377 25,801 26,197 26,957 27,169 28,424 28,876 29,027 28,991 28,525
Preferred Stock		 2,011 2,011 2,011 2,011 2,011 2,011 2,744 2,394 2,394 2,394 2,394
Total Common Equity		 23,307 23,367 23,790 24,186 24,946 25,158 25,680 26,482 26,632 26,597 26,131
Common Stock		 10,093 10,077 10,091 10,103 10,111 10,067 10,067 10,077 10,088 10,059 10,072
Retained Earnings		 15,754 16,212 16,837 17,284 17,524 17,812 18,211 18,659 19,079 19,405 19,870
Treasury Stock		 -1,750 -2,278 -2,273 -2,260 -2,230 -2,132 -2,047 -2,227 -2,371 -2,957 -4,026
Accumulated Other Comprehensive Income / (Loss)		 -790 -645 -865 -942 -459 -589 -551 -27 -164 90 215

Annual Metrics And Ratios for M&T Bank

This table displays calculated financial ratios and metrics derived from M&T Bank's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -1.82% 4.76% 13.46% 6.35% 5.26% 4.45% -3.83% 0.63% 36.50% 17.90% -3.77%
EBITDA Growth		 -6.52% 0.49% 22.10% 11.60% 6.60% 6.00% -26.64% 32.98% 9.64% 35.08% -7.24%
EBIT Growth		 -6.98% 1.98% 22.91% 12.90% 7.93% 1.56% -30.53% 38.74% 6.40% 38.55% -8.54%
NOPAT Growth		 -6.34% 1.26% 21.81% 7.09% 36.20% 0.58% -29.86% 37.38% 7.15% 37.60% -5.58%
Net Income Growth		 -6.34% 1.26% 21.81% 7.09% 36.20% 0.58% -29.86% 37.38% 7.15% 37.60% -5.58%
EPS Growth		 -9.51% -3.23% 8.36% 11.83% 46.44% 7.93% -27.71% 38.83% -16.45% 36.95% -7.28%
Operating Cash Flow Growth		 17.88% 58.54% -32.08% 135.08% -24.88% 12.81% -66.53% 244.02% 68.47% -14.63% -7.55%
Free Cash Flow Firm Growth		 -729.56% -65.35% 162.32% -25.00% -160.91% 510.74% -53.27% -69.85% -994.39% 47.98% 107.56%
Invested Capital Growth		 30.03% 34.98% -9.25% -6.03% 15.21% -19.57% -9.38% 3.91% 53.19% 23.25% 5.48%
Revenue Q/Q Growth		 0.47% 2.68% 1.65% 2.07% 1.44% -0.16% 0.18% -0.46% 13.88% -2.12% 0.91%
EBITDA Q/Q Growth		 2.84% -1.14% 4.65% 4.83% 2.56% -0.46% -1.36% -0.73% 16.56% -7.99% 7.16%
EBIT Q/Q Growth		 3.70% -1.37% 5.06% 5.38% 2.90% -1.82% -1.76% -0.84% 18.70% -9.60% 8.35%
NOPAT Q/Q Growth		 5.56% -0.61% 4.75% -0.58% 13.21% -2.68% -1.59% -0.69% 18.27% -9.38% 8.33%
Net Income Q/Q Growth		 5.56% -0.61% 4.75% -0.58% 13.21% -2.68% -1.59% -0.69% 18.27% -9.38% 8.33%
EPS Q/Q Growth		 5.10% -4.01% 4.71% 0.58% 15.40% -0.94% -0.70% -1.08% 8.77% -8.94% 8.28%
Operating Cash Flow Q/Q Growth		 -8.65% 10.81% -24.46% 27.78% -7.35% 32.66% -37.16% 1.22% 5.95% -3.79% 32.04%
Free Cash Flow Firm Q/Q Growth		 9.06% -937.97% 280.88% -2.87% -358.43% 1,846.91% -56.74% -55.14% -38.05% 33.78% 159.26%
Invested Capital Q/Q Growth		 -0.24% 24.73% -1.54% -1.32% 9.34% -19.55% -4.52% 1.43% 10.81% 1.06% -0.86%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 41.32% 39.64% 42.66% 44.76% 45.33% 46.00% 35.09% 46.38% 37.25% 42.68% 41.15%
EBIT Margin		 36.86% 35.88% 38.87% 41.26% 42.31% 41.14% 29.72% 40.97% 31.94% 37.53% 35.67%
Profit (Net Income) Margin		 23.93% 23.13% 24.83% 25.00% 32.35% 31.16% 22.72% 31.02% 24.36% 28.42% 27.89%
Tax Burden Percent		 64.93% 64.47% 63.89% 60.60% 76.47% 75.73% 76.47% 75.72% 76.26% 75.74% 78.19%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 35.07% 35.53% 36.11% 39.40% 23.53% 24.27% 23.53% 24.28% 23.74% 24.26% 21.81%
Return on Invested Capital (ROIC)		 5.65% 4.31% 4.79% 5.55% 7.26% 7.56% 6.24% 8.84% 7.34% 7.48% 6.22%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.65% 4.31% 4.79% 5.55% 7.26% 7.56% 6.24% 8.84% 7.34% 7.48% 6.22%
Return on Net Nonoperating Assets (RNNOA)		 3.37% 3.27% 3.27% 3.05% 4.84% 4.82% 2.25% 2.07% 1.88% 3.01% 3.02%
Return on Equity (ROE)		 9.02% 7.57% 8.05% 8.60% 12.10% 12.38% 8.48% 10.91% 9.22% 10.49% 9.25%
Cash Return on Invested Capital (CROIC)		 -20.46% -25.47% 14.49% 11.77% -6.88% 29.24% 16.08% 5.00% -34.68% -13.35% 0.89%
Operating Return on Assets (OROA)		 1.81% 1.53% 1.67% 1.92% 2.10% 2.12% 1.35% 1.65% 1.47% 1.77% 1.59%
Return on Assets (ROA)		 1.17% 0.98% 1.07% 1.16% 1.61% 1.61% 1.03% 1.25% 1.12% 1.34% 1.24%
Return on Common Equity (ROCE)		 8.21% 6.92% 7.45% 7.96% 11.16% 11.39% 7.82% 9.95% 8.42% 9.68% 8.52%
Return on Equity Simple (ROE_SIMPLE)		 8.64% 6.68% 7.98% 8.67% 12.41% 12.27% 8.36% 10.38% 7.87% 10.17% 8.92%
Net Operating Profit after Tax (NOPAT)		 1,066 1,080 1,315 1,408 1,918 1,929 1,353 1,859 1,992 2,741 2,588
NOPAT Margin		 23.93% 23.13% 24.83% 25.00% 32.35% 31.16% 22.72% 31.02% 24.36% 28.42% 27.89%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 42.03% 43.82% 41.03% 39.02% 39.40% 41.15% 43.55% 45.54% 45.57% 42.12% 46.02%
Operating Expenses to Revenue		 60.36% 60.48% 57.54% 55.76% 55.46% 56.02% 56.85% 60.28% 61.74% 55.78% 57.75%
Earnings before Interest and Taxes (EBIT)		 1,642 1,675 2,058 2,324 2,508 2,547 1,770 2,455 2,612 3,619 3,310
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,841 1,850 2,259 2,521 2,687 2,849 2,090 2,779 3,047 4,116 3,818
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.17 0.87 1.30 1.43 1.20 1.35 0.99 1.14 1.00 0.88 1.17
Price to Tangible Book Value (P/TBV)		 1.72 1.27 1.88 2.08 1.79 1.99 1.44 1.60 1.60 1.35 1.73
Price to Revenue (P/Rev)		 2.92 2.77 3.76 3.82 2.89 3.16 2.49 3.09 2.85 2.28 3.36
Price to Earnings (P/E)		 12.19 11.99 15.13 16.20 9.33 10.59 10.96 9.94 11.70 8.04 12.05
Dividend Yield		 2.85% 3.60% 2.18% 2.10% 2.91% 2.76% 3.81% 3.13% 3.56% 3.92% 2.85%
Earnings Yield		 8.20% 8.34% 6.61% 6.17% 10.72% 9.44% 9.13% 10.06% 8.55% 12.44% 8.30%
Enterprise Value to Invested Capital (EV/IC)		 0.72 0.62 0.94 1.00 0.76 0.85 0.00 0.00 0.19 0.19 0.62
Enterprise Value to Revenue (EV/Rev)		 3.45 3.82 4.62 4.36 3.63 3.11 0.00 0.00 0.78 0.80 2.85
Enterprise Value to EBITDA (EV/EBITDA)		 8.36 9.65 10.83 9.74 8.00 6.76 0.00 0.00 2.09 1.88 6.93
Enterprise Value to EBIT (EV/EBIT)		 9.37 10.66 11.89 10.57 8.57 7.56 0.00 0.00 2.43 2.14 8.00
Enterprise Value to NOPAT (EV/NOPAT)		 14.43 16.53 18.60 17.44 11.21 9.99 0.00 0.00 3.19 2.83 10.23
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.00 10.24 20.67 8.83 10.29 8.17 0.00 0.00 1.39 1.99 7.33
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 6.15 8.23 0.00 2.58 0.00 0.00 0.00 0.00 71.55
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.73 0.78 0.59 0.51 0.83 0.45 0.27 0.20 0.30 0.50 0.47
Long-Term Debt to Equity		 0.73 0.66 0.58 0.50 0.55 0.44 0.27 0.19 0.16 0.30 0.43
Financial Leverage		 0.60 0.76 0.68 0.55 0.67 0.64 0.36 0.23 0.26 0.40 0.49
Leverage Ratio		 7.69 7.70 7.54 7.39 7.53 7.70 8.23 8.73 8.23 7.82 7.44
Compound Leverage Factor		 7.69 7.70 7.54 7.39 7.53 7.70 8.23 8.73 8.23 7.82 7.44
Debt to Total Capital		 42.20% 43.86% 36.94% 33.85% 45.38% 30.96% 21.53% 16.48% 22.90% 33.40% 32.01%
Short-Term Debt to Total Capital		 0.00% 6.88% 0.63% 0.71% 15.54% 0.27% 0.29% 0.22% 10.83% 13.13% 2.48%
Long-Term Debt to Total Capital		 42.20% 36.98% 36.31% 33.14% 29.84% 30.69% 21.24% 16.26% 12.07% 20.26% 29.53%
Preferred Equity to Total Capital		 5.77% 4.27% 4.71% 5.01% 4.35% 5.49% 6.06% 8.16% 6.12% 4.97% 5.61%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 52.03% 51.87% 58.35% 61.14% 50.27% 63.55% 72.41% 75.36% 70.98% 61.63% 62.38%
Debt to EBITDA		 4.89 6.83 4.28 3.30 4.78 2.47 2.13 1.27 2.47 3.28 3.58
Net Debt to EBITDA		 0.63 1.99 1.48 0.72 1.17 -0.55 -9.94 -14.28 -6.22 -3.96 -1.86
Long-Term Debt to EBITDA		 4.89 5.76 4.20 3.23 3.14 2.45 2.10 1.25 1.30 1.99 3.30
Debt to NOPAT		 8.45 11.70 7.34 5.91 6.70 3.65 3.28 1.90 3.78 4.93 5.28
Net Debt to NOPAT		 1.09 3.40 2.54 1.29 1.63 -0.82 -15.35 -21.34 -9.52 -5.94 -2.75
Long-Term Debt to NOPAT		 8.45 9.87 7.22 5.78 4.40 3.62 3.24 1.87 1.99 2.99 4.87
Noncontrolling Interest Sharing Ratio		 8.94% 8.64% 7.54% 7.52% 7.77% 7.96% 7.84% 8.80% 8.70% 7.69% 7.87%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3,862 -6,386 3,980 2,985 -1,818 7,467 3,489 1,052 -9,410 -4,895 370
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 2,139.58% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -13.77 -19.46 9.34 7.72 -3.45 9.97 10.69 9.23 -22.14 -1.57 0.09
Operating Cash Flow to Interest Expense		 3.92 5.31 2.78 7.19 3.97 3.15 2.42 23.82 10.76 1.26 0.86
Operating Cash Flow Less CapEx to Interest Expense		 3.92 5.31 2.78 7.19 3.78 3.15 2.42 23.82 10.76 1.26 0.86
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.05 0.04 0.04 0.05 0.05 0.05 0.05 0.04 0.05 0.05 0.04
Fixed Asset Turnover		 7.15 7.30 7.89 8.52 9.16 6.92 5.17 5.20 5.84 5.68 5.39
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 21,343 28,809 26,144 24,567 28,303 22,765 20,629 21,436 32,838 40,474 42,692
Invested Capital Turnover		 0.24 0.19 0.19 0.22 0.22 0.24 0.27 0.28 0.30 0.26 0.22
Increase / (Decrease) in Invested Capital		 4,928 7,466 -2,665 -1,577 3,736 -5,538 -2,136 807 11,402 7,636 2,218
Enterprise Value (EV)		 15,390 17,847 24,466 24,557 21,496 19,267 -4,696 -19,442 6,353 7,754 26,472
Market Capitalization		 12,996 12,943 19,898 21,509 17,132 19,595 14,829 18,486 23,301 22,026 31,195
Book Value per Share		 $84.05 $112.10 $98.39 $99.79 $101.37 $109.63 $116.43 $125.53 $135.02 $150.31 $160.51
Tangible Book Value per Share		 $57.11 $76.59 $68.14 $68.79 $68.31 $74.60 $80.52 $89.80 $84.63 $98.42 $108.93
Total Capital		 21,343 28,809 26,144 24,567 28,303 22,765 20,629 21,436 32,838 40,474 42,692
Total Debt		 9,007 12,635 9,657 8,317 12,843 7,049 4,442 3,532 7,520 13,517 13,665
Total Long-Term Debt		 9,007 10,654 9,494 8,141 8,445 6,986 4,382 3,485 3,965 8,201 12,605
Net Debt		 1,163 3,673 3,336 1,817 3,133 -1,578 -20,775 -39,677 -18,959 -16,283 -7,117
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 98 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 9,007 12,635 9,657 8,317 12,843 7,049 4,442 3,532 7,520 13,517 13,665
Total Depreciation and Amortization (D&A)		 199 175 201 197 179 301 320 324 435 497 508
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $7.47 $7.22 $7.80 $8.72 $12.75 $13.76 $9.94 $13.81 $11.59 $15.85 $14.71
Adjusted Weighted Average Basic Shares Outstanding		 132.91M 159.09M 154.17M 150.18M 138.53M 130.44M 128.64M 129.03M 167.79M 166.62M 164.33M
Adjusted Diluted Earnings per Share		 $7.42 $7.18 $7.78 $8.70 $12.74 $13.75 $9.94 $13.80 $11.53 $15.79 $14.64
Adjusted Weighted Average Diluted Shares Outstanding		 132.91M 159.09M 154.17M 150.18M 138.53M 130.44M 128.64M 129.03M 167.79M 166.62M 164.33M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $13.76 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 132.91M 159.09M 154.17M 150.18M 138.53M 130.44M 128.64M 129.03M 167.79M 166.62M 164.33M
Normalized Net Operating Profit after Tax (NOPAT)		 1,066 1,080 1,315 1,408 1,918 1,929 1,353 1,859 1,992 2,741 2,588
Normalized NOPAT Margin		 23.93% 23.13% 24.83% 25.00% 32.35% 31.16% 22.72% 31.02% 24.36% 28.42% 27.89%
Pre Tax Income Margin		 36.86% 35.88% 38.87% 41.26% 42.31% 41.14% 29.72% 40.97% 31.94% 37.53% 35.67%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.86 5.10 4.83 6.01 4.76 3.40 5.42 21.54 6.15 1.16 0.79
NOPAT to Interest Expense		 3.80 3.29 3.09 3.64 3.64 2.57 4.15 16.31 4.69 0.88 0.62
EBIT Less CapEx to Interest Expense		 5.86 5.10 4.83 6.01 4.58 3.40 5.42 21.54 6.15 1.16 0.79
NOPAT Less CapEx to Interest Expense		 3.80 3.29 3.09 3.64 3.46 2.57 4.15 16.31 4.69 0.88 0.62
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 41.40% 42.26% 39.78% 37.64% 30.39% 32.12% 47.03% 34.86% 44.23% 35.32% 39.92%
Augmented Payout Ratio		 41.40% 42.26% 88.55% 123.27% 144.80% 102.09% 74.65% 34.86% 134.59% 56.99% 55.22%

Quarterly Metrics And Ratios for M&T Bank

This table displays calculated financial ratios and metrics derived from M&T Bank's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 65.89% 66.43% 31.23% 4.16% -8.30% -6.03% -11.53% -0.13% 3.65% 2.04% 4.08%
EBITDA Growth		 63.68% 85.99% 221.05% 6.37% -32.11% -23.58% -23.52% -0.58% 33.73% 12.22% 7.84%
EBIT Growth		 68.64% 94.82% 317.41% 7.02% -38.01% -28.29% -26.23% 0.22% 40.67% 14.61% 9.36%
NOPAT Growth		 67.10% 93.83% 298.58% 6.71% -37.05% -24.36% -24.45% 4.49% 41.29% 9.98% 9.31%
Net Income Growth		 67.10% 93.83% 298.58% 6.71% -37.05% -24.36% -24.45% 4.49% 41.29% 9.98% 9.31%
EPS Growth		 27.60% 53.05% 367.59% 12.75% -36.05% -24.69% -26.14% 1.01% 40.73% 9.93% 13.67%
Operating Cash Flow Growth		 36.86% -66.97% 5.86% 24.89% -16.13% 42.06% 7.72% -101.97% 109.50% 4.44% -37.67%
Free Cash Flow Firm Growth		 -2,950.85% -1,669.67% -9.83% -23.84% 32.74% 82.84% 73.60% 76.43% 78.52% 196.40% 182.41%
Invested Capital Growth		 53.19% 86.41% 37.40% 35.15% 23.25% 8.98% 8.22% 7.52% 5.48% -5.42% -3.44%
Revenue Q/Q Growth		 11.94% -4.16% 8.19% -10.26% -1.46% -1.75% 1.86% 1.30% 2.27% -3.31% 3.90%
EBITDA Q/Q Growth		 14.23% -6.70% 23.58% -19.24% -27.10% 5.17% 23.68% 4.99% -1.94% -11.87% 18.86%
EBIT Q/Q Growth		 19.35% -8.45% 25.16% -21.74% -30.87% 6.13% 28.77% 6.32% -2.97% -13.72% 22.86%
NOPAT Q/Q Growth		 18.42% -8.32% 23.50% -20.42% -30.14% 10.07% 23.35% 10.08% -5.55% -14.24% 22.60%
Net Income Q/Q Growth		 18.42% -8.32% 23.50% -20.42% -30.14% 10.07% 23.35% 10.08% -5.55% -14.24% 22.60%
EPS Q/Q Growth		 21.81% -6.74% 25.94% -21.19% -30.90% 9.82% 23.51% 7.77% -3.73% -14.21% 27.71%
Operating Cash Flow Q/Q Growth		 -16.10% -55.13% 193.69% 12.97% -43.66% -24.03% 122.70% -102.07% 6,085.71% -62.11% 32.91%
Free Cash Flow Firm Q/Q Growth		 -35.42% -67.01% 41.86% 5.81% 26.45% 57.40% 10.54% 15.92% 32.95% 291.15% -23.52%
Invested Capital Q/Q Growth		 10.81% 21.31% 3.24% -2.61% 1.06% 7.26% 2.52% -3.24% -0.86% -3.82% 4.67%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 44.38% 43.20% 49.35% 44.41% 32.86% 35.13% 42.66% 44.21% 42.39% 38.64% 44.20%
EBIT Margin		 40.31% 38.50% 44.54% 38.84% 27.25% 29.38% 37.14% 38.98% 36.98% 33.00% 39.02%
Profit (Net Income) Margin		 30.51% 29.19% 33.32% 29.55% 20.95% 23.50% 28.45% 30.92% 28.55% 25.33% 29.88%
Tax Burden Percent		 75.70% 75.81% 74.81% 76.08% 76.87% 79.97% 76.61% 79.32% 77.21% 76.74% 76.58%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 24.30% 24.19% 25.19% 23.93% 23.13% 20.03% 23.39% 20.68% 22.79% 23.26% 23.42%
Return on Invested Capital (ROIC)		 9.20% 8.72% 9.15% 8.36% 5.51% 5.36% 6.11% 6.84% 6.37% 5.59% 6.43%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.20% 8.72% 9.15% 8.36% 5.51% 5.36% 6.11% 6.84% 6.37% 5.59% 6.43%
Return on Net Nonoperating Assets (RNNOA)		 2.35% 3.62% 3.45% 2.96% 2.22% 3.13% 3.54% 3.48% 3.09% 2.82% 3.45%
Return on Equity (ROE)		 11.55% 12.33% 12.60% 11.32% 7.73% 8.49% 9.65% 10.32% 9.47% 8.41% 9.89%
Cash Return on Invested Capital (CROIC)		 -34.68% -52.72% -23.12% -21.22% -13.35% -2.42% -2.39% -1.50% 0.89% 11.83% 9.68%
Operating Return on Assets (OROA)		 1.85% 1.99% 2.11% 1.88% 1.28% 1.33% 1.64% 1.70% 1.65% 1.45% 1.75%
Return on Assets (ROA)		 1.40% 1.51% 1.58% 1.43% 0.99% 1.07% 1.26% 1.35% 1.27% 1.11% 1.34%
Return on Common Equity (ROCE)		 10.54% 11.26% 11.62% 10.43% 7.13% 7.84% 8.81% 9.50% 8.72% 7.75% 8.99%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 9.19% 11.56% 11.55% 0.00% 9.46% 8.30% 8.27% 0.00% 9.11% 9.47%
Net Operating Profit after Tax (NOPAT)		 766 702 867 690 482 531 655 721 681 584 716
NOPAT Margin		 30.51% 29.19% 33.32% 29.55% 20.95% 23.50% 28.45% 30.92% 28.55% 25.33% 29.88%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 38.76% 44.57% 38.47% 42.48% 43.33% 48.76% 45.18% 45.03% 45.20% 51.04% 46.16%
Operating Expenses to Revenue		 56.10% 56.51% 49.69% 54.73% 62.97% 61.77% 56.34% 55.87% 57.15% 61.36% 55.76%
Earnings before Interest and Taxes (EBIT)		 1,012 926 1,159 907 627 664 855 909 882 761 935
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,114 1,039 1,284 1,037 756 794 982 1,031 1,011 891 1,059
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.00 0.82 0.83 0.84 0.88 0.96 0.98 1.12 1.17 1.10 1.19
Price to Tangible Book Value (P/TBV)		 1.60 1.31 1.30 1.30 1.35 1.46 1.48 1.66 1.73 1.63 1.77
Price to Revenue (P/Rev)		 2.85 2.11 2.02 2.05 2.28 2.54 2.75 3.24 3.36 3.15 3.31
Price to Earnings (P/E)		 11.70 8.26 6.68 6.75 8.04 9.39 10.72 12.47 12.05 11.12 11.56
Dividend Yield		 3.56% 4.27% 4.20% 4.18% 3.92% 3.58% 3.47% 2.98% 2.85% 3.02% 2.78%
Earnings Yield		 8.55% 12.10% 14.97% 14.82% 12.44% 10.65% 9.32% 8.02% 8.30% 8.99% 8.65%
Enterprise Value to Invested Capital (EV/IC)		 0.19 0.29 0.20 0.11 0.19 0.20 0.39 0.46 0.62 0.51 0.62
Enterprise Value to Revenue (EV/Rev)		 0.78 1.27 0.83 0.43 0.80 0.90 1.90 2.14 2.85 2.26 2.82
Enterprise Value to EBITDA (EV/EBITDA)		 2.09 3.29 1.84 0.94 1.88 2.21 4.91 5.53 6.93 5.38 6.65
Enterprise Value to EBIT (EV/EBIT)		 2.43 3.79 2.06 1.05 2.14 2.55 5.74 6.45 8.00 6.19 7.62
Enterprise Value to NOPAT (EV/NOPAT)		 3.19 4.98 2.73 1.39 2.83 3.33 7.43 8.24 10.23 7.98 9.83
Enterprise Value to Operating Cash Flow (EV/OCF)		 1.39 3.13 2.15 1.04 1.99 2.09 4.19 7.20 7.33 5.79 8.49
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 71.55 4.22 6.27
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.30 0.57 0.59 0.53 0.50 0.60 0.57 0.49 0.47 0.42 0.51
Long-Term Debt to Equity		 0.16 0.29 0.29 0.27 0.30 0.42 0.40 0.40 0.43 0.36 0.43
Financial Leverage		 0.26 0.42 0.38 0.35 0.40 0.58 0.58 0.51 0.49 0.50 0.54
Leverage Ratio		 8.23 8.16 7.98 7.91 7.82 7.96 7.68 7.64 7.44 7.58 7.38
Compound Leverage Factor		 8.23 8.16 7.98 7.91 7.82 7.96 7.68 7.64 7.44 7.58 7.38
Debt to Total Capital		 22.90% 36.29% 37.26% 34.59% 33.40% 37.42% 36.14% 32.95% 32.01% 29.39% 33.63%
Short-Term Debt to Total Capital		 10.83% 17.56% 19.23% 16.81% 13.13% 11.04% 10.70% 6.05% 2.48% 3.83% 4.82%
Long-Term Debt to Total Capital		 12.07% 18.73% 18.03% 17.79% 20.26% 26.37% 25.43% 26.90% 29.53% 25.56% 28.81%
Preferred Equity to Total Capital		 6.12% 5.05% 4.89% 5.02% 4.97% 4.63% 6.17% 5.56% 5.61% 5.83% 5.57%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 70.98% 58.66% 57.85% 60.39% 61.63% 57.95% 57.70% 61.49% 62.38% 64.78% 60.80%
Debt to EBITDA		 2.47 4.10 3.47 3.10 3.28 4.20 4.51 3.98 3.58 3.08 3.62
Net Debt to EBITDA		 -6.22 -2.74 -3.09 -4.03 -3.96 -4.55 -2.94 -3.49 -1.86 -2.73 -1.75
Long-Term Debt to EBITDA		 1.30 2.12 1.68 1.59 1.99 2.96 3.17 3.25 3.30 2.68 3.10
Debt to NOPAT		 3.78 6.20 5.14 4.58 4.93 6.32 6.82 5.94 5.28 4.57 5.35
Net Debt to NOPAT		 -9.52 -4.15 -4.57 -5.96 -5.94 -6.85 -4.45 -5.21 -2.75 -4.05 -2.58
Long-Term Debt to NOPAT		 1.99 3.20 2.49 2.36 2.99 4.46 4.80 4.85 4.87 3.97 4.58
Noncontrolling Interest Sharing Ratio		 8.70% 8.69% 7.79% 7.82% 7.69% 7.65% 8.77% 8.00% 7.87% 7.84% 9.02%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -10,636 -17,763 -10,327 -9,727 -7,154 -3,048 -2,727 -2,292 -1,537 2,938 2,247
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -43.47 -34.90 -14.40 -11.23 -7.03 -2.86 -2.55 -2.16 -1.57 3.40 2.51
Operating Cash Flow to Interest Expense		 3.90 0.84 1.75 1.64 0.79 0.57 1.26 -0.03 1.71 0.73 0.94
Operating Cash Flow Less CapEx to Interest Expense		 3.90 0.84 1.75 1.64 0.79 0.57 1.26 -0.03 1.71 0.73 0.94
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.05 0.05 0.05 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 5.84 6.53 5.96 5.97 5.68 5.64 5.42 5.45 5.39 5.54 5.60
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 32,838 39,835 41,125 40,051 40,474 43,414 44,507 43,064 42,692 41,060 42,976
Invested Capital Turnover		 0.30 0.30 0.27 0.28 0.26 0.23 0.21 0.22 0.22 0.22 0.22
Increase / (Decrease) in Invested Capital		 11,402 18,465 11,194 10,417 7,636 3,579 3,382 3,013 2,218 -2,354 -1,531
Enterprise Value (EV)		 6,353 11,614 8,126 4,216 7,754 8,554 17,512 19,695 26,472 21,073 26,559
Market Capitalization		 23,301 19,270 19,746 20,234 22,026 24,137 25,255 29,746 31,195 29,375 31,139
Book Value per Share		 $135.02 $139.26 $143.43 $145.74 $150.31 $151.14 $153.91 $158.57 $160.51 $161.85 $162.79
Tangible Book Value per Share		 $84.63 $87.51 $91.32 $93.76 $98.42 $99.49 $102.46 $107.25 $108.93 $109.77 $109.53
Total Capital		 32,838 39,835 41,125 40,051 40,474 43,414 44,507 43,064 42,692 41,060 42,976
Total Debt		 7,520 14,458 15,325 13,854 13,517 16,245 16,083 14,188 13,665 12,069 14,451
Total Long-Term Debt		 3,965 7,463 7,417 7,123 8,201 11,450 11,319 11,583 12,605 10,496 12,380
Net Debt		 -18,959 -9,666 -13,631 -18,029 -16,283 -17,594 -10,487 -12,445 -7,117 -10,696 -6,974
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 7,520 14,458 15,325 13,854 13,517 16,245 16,083 14,188 13,665 12,069 14,451
Total Depreciation and Amortization (D&A)		 102 113 125 130 129 130 127 122 129 130 124
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.33 $0.00 $5.07 $4.00 $2.75 $3.04 $3.75 $4.04 $3.88 $3.33 $4.26
Adjusted Weighted Average Basic Shares Outstanding		 167.79M 0.00 165.84M 165.91M 166.62M 166.46M 166.95M 166.67M 164.33M 164.21M 159.22M
Adjusted Diluted Earnings per Share		 $4.30 $0.00 $5.05 $3.98 $2.75 $3.02 $3.73 $4.02 $3.87 $3.32 $4.24
Adjusted Weighted Average Diluted Shares Outstanding		 167.79M 0.00 166.32M 166.57M 166.62M 167.08M 167.66M 167.57M 164.33M 165.05M 160.01M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 167.79M 0.00 165.95M 165.96M 166.62M 166.85M 167.00M 165.92M 164.33M 160.52M 156.27M
Normalized Net Operating Profit after Tax (NOPAT)		 766 702 867 690 482 531 655 721 681 584 716
Normalized NOPAT Margin		 30.51% 29.19% 33.32% 29.55% 20.95% 23.50% 28.45% 30.92% 28.55% 25.33% 29.88%
Pre Tax Income Margin		 40.31% 38.50% 44.54% 38.84% 27.25% 29.38% 37.14% 38.98% 36.98% 33.00% 39.02%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.13 1.82 1.62 1.05 0.62 0.62 0.80 0.86 0.90 0.88 1.04
NOPAT to Interest Expense		 3.13 1.38 1.21 0.80 0.47 0.50 0.61 0.68 0.70 0.68 0.80
EBIT Less CapEx to Interest Expense		 4.13 1.82 1.62 1.05 0.62 0.62 0.80 0.86 0.90 0.88 1.04
NOPAT Less CapEx to Interest Expense		 3.13 1.38 1.21 0.80 0.47 0.50 0.61 0.68 0.70 0.68 0.80
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 44.23% 40.68% 31.87% 31.62% 35.32% 37.67% 41.82% 42.32% 39.92% 39.53% 38.42%
Augmented Payout Ratio		 134.59% 143.35% 92.04% 71.10% 56.99% 37.67% 41.82% 50.61% 55.22% 79.36% 116.91%

Key Financial Trends

M&T Bank (NYSE: MTB) Financial Analysis – Q2 2025 vs. the Last Four Years

M&T Bank has demonstrated steady financial performance over the last several quarters and years, with consistent growth in key income and balance sheet metrics. Here are the most important trends and points to consider based on the recent quarterly financial statements and past data:

  • Strong Net Income Growth: Consolidated net income increased to $716 million in Q2 2025, up from $584 million in Q1 2025 and showing a steady upward trend compared to prior quarters and years. This indicates improved profitability over recent periods.
  • Growing Net Interest Income: Net interest income reached $1.713 billion in Q2 2025, increasing from $1.695 billion in Q1 2025. This is driven mainly by rising loans and leases interest income, which rose to $2.054 billion in Q2 2025.
  • Solid Non-Interest Income: Total non-interest income was $683 million in Q2 2025, increasing sequentially, highlighting strong fee and service revenue streams such as trust fees and service charges.
  • Controlled Provision for Credit Losses: While credit loss provisions remain elevated at $125 million in Q2 2025, they have shown some improvement relative to previous quarters, suggesting better credit portfolio quality or more efficient risk management.
  • Consistent Dividend Payouts: The company maintained dividends per share at $1.35 for Q2 2025, indicating a stable capital return policy supported by strong earnings.
  • Increasing Equity Base: Total equity stands at approximately $28.5 billion in Q2 2025, slightly down from $29 billion in Q1 but higher than previous years, supporting financial stability and lending capacity.
  • Loan and Lease Growth: Loans and leases increased moderately to $136.1 billion in Q2 2025, up from $134.6 billion in Q1 2025, indicating ongoing lending activity but at a tempered pace.
  • Investment Securities and Trading Assets: The bank holds significant investment securities and trading assets, with fluctuations in these portfolios potentially impacting earnings volatility through realized and unrealized gains or losses.
  • Moderate Increase in Interest Expense: Total interest expense rose to $896 million in Q2 2025 from $865 million in Q1 2025, possibly reflecting higher funding costs or expanded debt levels.
  • Stock Repurchase Activity: The bank repurchased $1.069 billion of common equity in Q2 2025, an increase from $656 million in Q1 2025, which utilizes cash resources that might otherwise be reinvested in growth or liquidity.
  • Fluctuating Cash Flows from Investing Activities: Net cash from investing activities was negative $853 million in Q2 2025, driven by purchases exceeding sales of investments, which could pressure liquidity if sustained long-term.

Summary: M&T Bank shows solid profitability with growing net interest and non-interest income, supported by steady loan growth and a strong equity base. The company maintains generous dividends and is actively repurchasing stock, which suggests confidence in its financial strength but may limit cash available for other uses. Credit provisions remain elevated but stable, and recent increases in interest expense warrant monitoring as funding costs evolve. Overall, MTB appears financially healthy with positive earnings momentum and a stable balance sheet.

09/13/25 08:48 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About M&T Bank's Financials

When does M&T Bank's financial year end?

According to the most recent income statement we have on file, M&T Bank's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has M&T Bank's net income changed over the last 10 years?

M&T Bank's net income appears to be on an upward trend, with a most recent value of $2.59 billion in 2024, rising from $1.07 billion in 2014. The previous period was $2.74 billion in 2023. See where experts think M&T Bank is headed by visiting M&T Bank's forecast page.

How has M&T Bank's revenue changed over the last 10 years?

Over the last 10 years, M&T Bank's total revenue changed from $4.46 billion in 2014 to $9.28 billion in 2024, a change of 108.2%.

How much debt does M&T Bank have?

M&T Bank's total liabilities were at $179.08 billion at the end of 2024, a 1.2% decrease from 2023, and a 112.3% increase since 2014.

How much cash does M&T Bank have?

In the past 10 years, M&T Bank's cash and equivalents has ranged from $1.29 billion in 2014 to $1.91 billion in 2024, and is currently $1.91 billion as of their latest financial filing in 2024.

How has M&T Bank's book value per share changed over the last 10 years?

Over the last 10 years, M&T Bank's book value per share changed from 84.05 in 2014 to 160.51 in 2024, a change of 91.0%.


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This page (NYSE:MTB) was last updated on 9/13/2025 by MarketBeat.com Staff
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