M&T Bank (MTB) Financials

$159.47 +0.97 (+0.61%)

Closing price 04/15/2025 03:59 PM Eastern

Extended Trading

$159.50 +0.03 (+0.02%)

As of 04/15/2025 07:23 PM Eastern

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

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	647	766	702	841	690	508	531	626	721	710
Consolidated Net Income / (Loss)	647	766	702	867	690	482	531	655	721	681
Net Income / (Loss) Continuing Operations	647	766	702	867	690	482	531	655	721	681
Total Pre-Tax Income	848	1,012	926	1,159	907	627	664	855	909	882
Total Revenue	2,242	2,509	2,405	2,602	2,335	2,301	2,260	2,302	2,332	2,385
Net Interest Income / (Expense)	1,679	1,827	1,818	1,799	1,775	1,723	1,680	1,718	1,726	1,728
Total Interest Income	1,782	2,072	2,327	2,516	2,641	2,740	2,745	2,789	2,785	2,707
Loans and Leases Interest Income	1,456	1,664	1,850	1,998	2,062	2,111	2,097	2,128	2,153	2,099
Investment Securities Interest Income	152	170	198	215	215	211	228	260	283	323
Deposits and Money Market Investments Interest Income	173	237	278	302	363	417	419	400	348	285
Total Interest Expense	103	245	509	717	866	1,017	1,065	1,071	1,059	979
Deposits Interest Expense	70	188	366	519	696	836	840	835	835	785
Short-Term Borrowings Interest Expense	2.67	13	58	96	69	69	84	69	57	32
Long-Term Debt Interest Expense	30	44	85	102	101	112	141	167	167	162
Total Non-Interest Income	563	682	587	803	560	578	580	584	606	657
Trust Fees by Commissions	21	764	24	197	182	379	29	200	202	365
Other Service Charges	153	266	159	362	143	145	152	152	152	176
Net Realized & Unrealized Capital Gains on Investments	3.97	10	12	18	9.00	14	11	-1.00	11	28
Other Non-Interest Income	385	-805	392	107	105	-195	388	106	109	-167
Provision for Credit Losses	115	90	120	150	150	225	200	150	120	140
Total Non-Interest Expense	1,279	1,408	1,359	1,293	1,278	1,449	1,396	1,297	1,303	1,363
Salaries and Employee Benefits	736	697	808	738	727	724	833	764	775	790
Net Occupancy & Equipment Expense	222	244	233	235	242	247	249	249	248	258
Marketing Expense	21	32	31	28	23	26	20	27	27	30
Property & Liability Insurance Claims	28	24	30	28	29	228	60	37	25	24
Other Operating Expenses	253	393	240	249	242	209	219	207	216	248
Amortization Expense	18	18	17	15	15	15	15	13	12	13
Income Tax Expense	201	246	224	292	217	145	133	200	188	201
Basic Earnings per Share	$3.55	$4.33	$4.03	$5.07	$4.00	$2.75	$3.04	$3.75	$4.04	$3.88
Weighted Average Basic Shares Outstanding	174.61M	167.79M	167.73M	165.84M	165.91M	166.62M	166.46M	166.95M	166.67M	164.33M
Diluted Earnings per Share	$3.53	$4.30	$4.01	$5.05	$3.98	$2.75	$3.02	$3.73	$4.02	$3.87
Weighted Average Diluted Shares Outstanding	175.68M	167.79M	168.41M	166.32M	166.57M	166.62M	167.08M	167.66M	167.57M	164.33M
Weighted Average Basic & Diluted Shares Outstanding	172.61M	167.79M	165.87M	165.95M	165.96M	166.62M	166.85M	167.00M	165.92M	164.33M

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

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	568	-736	298	30	-79	-38	-36	83	438	-307
Net Cash From Operating Activities	1,137	954	428	1,257	1,420	800	608	1,354	-28	1,676
Net Cash From Continuing Operating Activities	1,137	954	428	1,257	1,420	800	608	1,354	-28	1,676
Net Income / (Loss) Continuing Operations	647	766	702	867	690	482	531	655	721	681
Consolidated Net Income / (Loss)	647	766	702	867	690	482	531	655	721	681
Provision For Loan Losses	115	90	120	150	150	225	200	150	120	140
Depreciation Expense	85	62	76	73	78	77	80	79	76	81
Amortization Expense	43	40	37	52	52	52	50	48	46	48
Non-Cash Adjustments to Reconcile Net Income	-12	-78	0.00	-240	-41	-61	7.00	-12	-4.00	-8.00
Changes in Operating Assets and Liabilities, net	260	74	-507	355	491	25	-260	434	-987	734
Net Cash From Investing Activities	6,219	-3,666	-1,747	-4,903	-1,907	683	-7,082	5,625	-1,386	2,293
Net Cash From Continuing Investing Activities	6,219	-3,666	-1,747	-4,903	-1,907	683	-7,082	5,625	-1,386	2,293
Purchase of Investment Securities	-2,593	21,059	-5,549	-1,997	2,187	-5,716	-5,448	-218	-4,107	1,242
Sale and/or Maturity of Investments	8,526	-24,585	3,595	-2,985	-4,113	6,430	-1,715	5,771	2,688	1,263
Other Investing Activities, net	286	254	207	79	19	-31	81	72	33	-212
Net Cash From Financing Activities	-6,789	1,976	1,617	3,676	408	-1,521	6,438	-6,896	1,852	-4,276
Net Cash From Continuing Financing Activities	-6,789	1,976	1,617	3,676	408	-1,521	6,438	-6,896	1,852	-4,276
Net Change in Deposits	-6,512	-330	-4,441	2,986	2,063	-856	3,921	-7,287	4,643	-3,459
Issuance of Debt	548	524	3,486	4,353	-631	-2,173	3,357	-552	1,198	1,494
Repayment of Debt	-7.10	2,613	3,440	-3,440	-781	1,718	-570	408	-3,227	-1,876
Repurchase of Common Equity	-600	-600	-594	-	-	-	0.00	-	-198	-198
Payment of Dividends	-243	-221	-255	-231	-249	-233	-255	-249	-274	-255
Other Financing Activities, Net	25	-9.81	-19	8.00	6.00	23	-15	51	60	18
Cash Interest Paid	128	214	410	513	856	912	999	1,116	1,179	1,025
Cash Interest Received	1,729	1,990	2,289	2,525	2,615	2,663	2,716	2,831	2,776	2,754
Cash Income Taxes Paid	131	125	22	307	102	21	41	65	134	-4.00

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	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	1,368	1,321	1,421	1,605	1,433	1,553	1,338	1,517	1,731	1,909
Interest Bearing Deposits at Other Banks	7,594	5,001	5,079	8,105	7,190	23,664	41,872	24,959	28,069	18,873
Trading Account Securities	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	86,534	89,864	86,972	87,447	89,872	96,799	91,443	129,639	131,939	133,397
Loans and Leases	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	956	989	1,017	1,019	1,051	1,736	1,469	1,925	2,129	2,184
Premises and Equipment, Net	667	675	646	647	1,141	1,162	1,145	1,654	1,739	1,705
Goodwill	4,593	4,593	4,593	4,593	4,593	4,593	4,593	8,490	8,465	8,465
Intangible Assets	140	98	72	47	29	14	4.00	209	147	94
Other Assets	5,962	5,323	5,013	4,774	5,644	6,702	7,507	8,930	9,171	9,510
Total Liabilities & Shareholders' Equity	122,788	123,449	118,593	120,097	119,873	142,601	155,107	200,730	208,264	208,105
Total Liabilities	106,615	106,963	102,343	104,637	104,156	126,414	137,204	175,412	181,307	179,078
Non-Interest Bearing Deposits	29,111	32,814	33,975	32,257	32,396	47,573	60,131	65,502	49,294	46,020
Interest Bearing Deposits	62,847	62,680	58,457	57,900	62,374	72,233	71,412	98,013	113,980	115,075
Short-Term Debt	1,982	163	175	4,398	62	59	47	3,555	5,316	1,060
Long-Term Debt	10,654	9,494	8,141	8,445	6,986	4,382	3,485	3,965	8,201	12,605
Other Long-Term Liabilities	1,871	1,811	1,594	1,637	2,337	2,166	2,128	4,377	4,516	4,318
Total Equity & Noncontrolling Interests	16,173	16,487	16,251	15,460	15,717	16,187	17,903	25,318	26,957	29,027
Total Preferred & Common Equity	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	1,250	1,250	1,750	2,011	2,011	2,394
Total Common Equity	14,942	15,255	15,019	14,229	14,467	14,937	16,153	23,307	24,946	26,632
Common Stock	6,763	6,759	6,673	6,661	6,675	6,699	6,716	10,093	10,111	10,088
Retained Earnings	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)	-252	-295	-364	-420	-207	-63	-128	-790	-459	-164

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	197,955	200,730	202,956	207,672	209,124	208,264	215,137	208,855	211,785	208,105
Cash and Due from Banks	2,256	1,517	1,818	1,848	1,769	1,731	1,695	1,778	2,216	1,909
Interest Bearing Deposits at Other Banks	25,392	24,959	22,306	27,107	30,114	28,069	32,144	24,792	24,417	18,873
Trading Account Securities	24,733	25,329	28,608	28,054	27,473	27,003	28,595	29,993	32,429	34,152
Loans and Leases, Net of Allowance	126,350	129,639	130,963	131,345	130,303	131,939	132,782	132,798	133,716	133,397
Loans and Leases	128,226	131,564	132,938	133,344	132,355	134,068	134,973	135,002	135,920	135,581
Allowance for Loan and Lease Losses	1,876	1,925	1,975	1,998	2,052	2,129	2,191	2,204	2,204	2,184
Premises and Equipment, Net	1,620	1,654	1,664	1,673	1,681	1,739	1,707	1,719	1,694	1,705
Goodwill	8,501	8,490	8,490	8,465	8,465	8,465	8,465	8,465	8,465	8,465
Intangible Assets	227	209	192	177	162	147	132	119	107	94
Other Assets	8,876	8,930	8,915	9,002	9,157	9,171	9,617	9,191	8,741	9,510
Total Liabilities & Shareholders' Equity	197,955	200,730	202,956	207,672	209,124	208,264	215,137	208,855	211,785	208,105
Total Liabilities	172,699	175,412	177,579	181,871	182,928	181,307	187,968	180,431	182,909	179,078
Non-Interest Bearing Deposits	73,023	65,502	59,955	54,938	53,787	49,294	50,578	47,729	47,344	46,020
Interest Bearing Deposits	90,822	98,013	99,120	107,120	110,341	113,980	116,618	112,181	117,210	115,075
Short-Term Debt	918	3,555	6,995	7,908	6,731	5,316	4,795	4,764	2,605	1,060
Long-Term Debt	3,459	3,965	7,463	7,417	7,123	8,201	11,450	11,319	11,583	12,605
Other Long-Term Liabilities	4,476	4,377	4,046	4,488	4,946	4,516	4,527	4,438	4,167	4,318
Total Equity & Noncontrolling Interests	25,256	25,318	25,377	25,801	26,197	26,957	27,169	28,424	28,876	29,027
Total Preferred & Common Equity	25,256	25,318	25,377	25,801	26,197	26,957	27,169	28,424	28,876	29,027
Preferred Stock	2,011	2,011	2,011	2,011	2,011	2,011	2,011	2,744	2,394	2,394
Total Common Equity	23,246	23,307	23,367	23,790	24,186	24,946	25,158	25,680	26,482	26,632
Common Stock	10,085	10,093	10,077	10,091	10,103	10,111	10,067	10,067	10,077	10,088
Retained Earnings	15,220	15,754	16,212	16,837	17,284	17,524	17,812	18,211	18,659	19,079
Treasury Stock	-1,159	-1,750	-2,278	-2,273	-2,260	-2,230	-2,132	-2,047	-2,227	-2,371
Accumulated Other Comprehensive Income / (Loss)	-900	-790	-645	-865	-942	-459	-589	-551	-27	-164

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.76%	13.46%	6.35%	5.26%	4.45%	-3.83%	0.63%	36.50%	17.90%	-3.77%
EBITDA Growth	0.49%	22.10%	11.60%	6.60%	6.00%	-26.64%	32.98%	9.64%	35.08%	-7.24%
EBIT Growth	1.98%	22.91%	12.90%	7.93%	1.56%	-30.53%	38.74%	6.40%	38.55%	-8.54%
NOPAT Growth	1.26%	21.81%	7.09%	36.20%	0.58%	-29.86%	37.38%	7.15%	37.60%	-5.58%
Net Income Growth	1.26%	21.81%	7.09%	36.20%	0.58%	-29.86%	37.38%	7.15%	37.60%	-5.58%
EPS Growth	-3.23%	8.36%	11.83%	46.44%	7.93%	-27.71%	38.83%	-16.45%	36.95%	-7.28%
Operating Cash Flow Growth	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	-65.35%	162.32%	-25.00%	-160.91%	510.74%	-53.27%	-69.85%	-994.39%	47.98%	107.56%
Invested Capital Growth	34.98%	-9.25%	-6.03%	15.21%	-19.57%	-9.38%	3.91%	53.19%	23.25%	5.48%
Revenue Q/Q Growth	2.68%	1.65%	2.07%	1.44%	-0.16%	0.18%	-0.46%	13.88%	-2.12%	0.91%
EBITDA Q/Q Growth	-1.14%	4.65%	4.83%	2.56%	-0.46%	-1.36%	-0.73%	16.56%	-7.99%	7.16%
EBIT Q/Q Growth	-1.37%	5.06%	5.38%	2.90%	-1.82%	-1.76%	-0.84%	18.70%	-9.60%	8.35%
NOPAT Q/Q Growth	-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	-0.61%	4.75%	-0.58%	13.21%	-2.68%	-1.59%	-0.69%	18.27%	-9.38%	8.33%
EPS Q/Q Growth	-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	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	-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	24.73%	-1.54%	-1.32%	9.34%	-19.55%	-4.52%	1.43%	10.81%	1.06%	-0.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	39.64%	42.66%	44.76%	45.33%	46.00%	35.09%	46.38%	37.25%	42.68%	41.15%
EBIT Margin	35.88%	38.87%	41.26%	42.31%	41.14%	29.72%	40.97%	31.94%	37.53%	35.67%
Profit (Net Income) Margin	23.13%	24.83%	25.00%	32.35%	31.16%	22.72%	31.02%	24.36%	28.42%	27.89%
Tax Burden Percent	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%
Effective Tax Rate	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)	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)	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)	3.27%	3.27%	3.05%	4.84%	4.82%	2.25%	2.07%	1.88%	3.01%	3.02%
Return on Equity (ROE)	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)	-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)	1.53%	1.67%	1.92%	2.10%	2.12%	1.35%	1.65%	1.47%	1.77%	1.59%
Return on Assets (ROA)	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)	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)	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)	1,080	1,315	1,408	1,918	1,929	1,353	1,859	1,992	2,741	2,588
NOPAT Margin	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%
SG&A Expenses to Revenue	43.82%	41.03%	39.02%	39.40%	41.15%	43.55%	45.54%	45.57%	42.12%	46.02%
Operating Expenses to Revenue	60.48%	57.54%	55.76%	55.46%	56.02%	56.85%	60.28%	61.74%	55.78%	57.75%
Earnings before Interest and Taxes (EBIT)	1,675	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)	1,850	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)	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)	1.27	1.88	2.08	1.79	1.99	1.44	1.60	1.60	1.35	1.73
Price to Revenue (P/Rev)	2.77	3.76	3.82	2.89	3.16	2.49	3.09	2.85	2.28	3.36
Price to Earnings (P/E)	11.99	15.13	16.20	9.33	10.59	10.96	9.94	11.70	8.04	12.05
Dividend Yield	3.60%	2.18%	2.10%	2.91%	2.76%	3.81%	3.13%	3.56%	3.92%	2.85%
Earnings Yield	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)	0.62	0.94	1.00	0.76	0.85	0.00	0.00	0.19	0.19	0.62
Enterprise Value to Revenue (EV/Rev)	3.82	4.62	4.36	3.63	3.11	0.00	0.00	0.78	0.80	2.85
Enterprise Value to EBITDA (EV/EBITDA)	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)	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)	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)	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	6.15	8.23	0.00	2.58	0.00	0.00	0.00	0.00	71.55
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	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	0.66	0.58	0.50	0.55	0.44	0.27	0.19	0.16	0.30	0.43
Financial Leverage	0.76	0.68	0.55	0.67	0.64	0.36	0.23	0.26	0.40	0.49
Leverage Ratio	7.70	7.54	7.39	7.53	7.70	8.23	8.73	8.23	7.82	7.44
Compound Leverage Factor	7.70	7.54	7.39	7.53	7.70	8.23	8.73	8.23	7.82	7.44
Debt to Total Capital	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	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	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	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%
Common Equity to Total Capital	51.87%	58.35%	61.14%	50.27%	63.55%	72.41%	75.36%	70.98%	61.63%	62.38%
Debt to EBITDA	6.83	4.28	3.30	4.78	2.47	2.13	1.27	2.47	3.28	3.58
Net Debt to EBITDA	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	5.76	4.20	3.23	3.14	2.45	2.10	1.25	1.30	1.99	3.30
Debt to NOPAT	11.70	7.34	5.91	6.70	3.65	3.28	1.90	3.78	4.93	5.28
Net Debt to NOPAT	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	9.87	7.22	5.78	4.40	3.62	3.24	1.87	1.99	2.99	4.87
Noncontrolling Interest Sharing Ratio	8.64%	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)	-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%	2,139.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-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	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	5.31	2.78	7.19	3.78	3.15	2.42	23.82	10.76	1.26	0.86
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.05	0.05	0.05	0.05	0.04	0.05	0.05	0.04
Fixed Asset Turnover	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	28,809	26,144	24,567	28,303	22,765	20,629	21,436	32,838	40,474	42,692
Invested Capital Turnover	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	7,466	-2,665	-1,577	3,736	-5,538	-2,136	807	11,402	7,636	2,218
Enterprise Value (EV)	17,847	24,466	24,557	21,496	19,267	-4,696	-19,442	6,353	7,754	26,472
Market Capitalization	12,943	19,898	21,509	17,132	19,595	14,829	18,486	23,301	22,026	31,195
Book Value per Share	$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	$76.59	$68.14	$68.79	$68.31	$74.60	$80.52	$89.80	$84.63	$98.42	$108.93
Total Capital	28,809	26,144	24,567	28,303	22,765	20,629	21,436	32,838	40,474	42,692
Total Debt	12,635	9,657	8,317	12,843	7,049	4,442	3,532	7,520	13,517	13,665
Total Long-Term Debt	10,654	9,494	8,141	8,445	6,986	4,382	3,485	3,965	8,201	12,605
Net Debt	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	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
Net Nonoperating Obligations (NNO)	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)	175	201	197	179	301	320	324	435	497	508
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$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	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	$7.18	$7.78	$8.70	$12.74	$13.75	$9.94	$13.80	$11.53	$15.79	$14.64
Adjusted Weighted Average Diluted Shares Outstanding	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	$13.76	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	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)	1,080	1,315	1,408	1,918	1,929	1,353	1,859	1,992	2,741	2,588
Normalized NOPAT Margin	23.13%	24.83%	25.00%	32.35%	31.16%	22.72%	31.02%	24.36%	28.42%	27.89%
Pre Tax Income Margin	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	5.10	4.83	6.01	4.76	3.40	5.42	21.54	6.15	1.16	0.79
NOPAT to Interest Expense	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	5.10	4.83	6.01	4.58	3.40	5.42	21.54	6.15	1.16	0.79
NOPAT Less CapEx to Interest Expense	3.29	3.09	3.64	3.46	2.57	4.15	16.31	4.69	0.88	0.62
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	42.26%	39.78%	37.64%	30.39%	32.12%	47.03%	34.86%	44.23%	35.32%	39.92%
Augmented Payout Ratio	42.26%	88.55%	123.27%	144.80%	102.09%	74.65%	34.86%	134.59%	56.99%	55.22%

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	45.91%	65.89%	66.43%	31.23%	4.16%	-8.30%	-6.03%	-11.53%	-0.13%	3.65%
EBITDA Growth	31.49%	63.68%	85.99%	221.05%	6.37%	-32.11%	-23.58%	-23.52%	-0.58%	33.73%
EBIT Growth	28.99%	68.64%	94.82%	317.41%	7.02%	-38.01%	-28.29%	-26.23%	0.22%	40.67%
NOPAT Growth	30.50%	67.10%	93.83%	298.58%	6.71%	-37.05%	-24.36%	-24.45%	4.49%	41.29%
Net Income Growth	30.50%	67.10%	93.83%	298.58%	6.71%	-37.05%	-24.36%	-24.45%	4.49%	41.29%
EPS Growth	-4.34%	27.60%	53.05%	367.59%	12.75%	-36.05%	-24.69%	-26.14%	1.01%	40.73%
Operating Cash Flow Growth	133.79%	36.86%	-66.97%	5.86%	24.89%	-16.13%	42.06%	7.72%	-101.97%	109.50%
Free Cash Flow Firm Growth	-910.75%	-2,950.85%	-1,669.67%	-9.83%	-23.84%	32.74%	82.84%	73.60%	76.43%	78.52%
Invested Capital Growth	40.23%	53.19%	86.41%	37.40%	35.15%	23.25%	8.98%	8.22%	7.52%	5.48%
Revenue Q/Q Growth	13.06%	11.94%	-4.16%	8.19%	-10.26%	-1.46%	-1.75%	1.86%	1.30%	2.27%
EBITDA Q/Q Growth	143.75%	14.23%	-6.70%	23.58%	-19.24%	-27.10%	5.17%	23.68%	4.99%	-1.94%
EBIT Q/Q Growth	205.23%	19.35%	-8.45%	25.16%	-21.74%	-30.87%	6.13%	28.77%	6.32%	-2.97%
NOPAT Q/Q Growth	197.26%	18.42%	-8.32%	23.50%	-20.42%	-30.14%	10.07%	23.35%	10.08%	-5.55%
Net Income Q/Q Growth	197.26%	18.42%	-8.32%	23.50%	-20.42%	-30.14%	10.07%	23.35%	10.08%	-5.55%
EPS Q/Q Growth	226.85%	21.81%	-6.74%	25.94%	-21.19%	-30.90%	9.82%	23.51%	7.77%	-3.73%
Operating Cash Flow Q/Q Growth	-4.24%	-16.10%	-55.13%	193.69%	12.97%	-43.66%	-24.03%	122.70%	-102.07%	6,085.71%
Free Cash Flow Firm Q/Q Growth	16.47%	-35.42%	-67.01%	41.86%	5.81%	26.45%	57.40%	10.54%	15.92%	32.95%
Invested Capital Q/Q Growth	-0.99%	10.81%	21.31%	3.24%	-2.61%	1.06%	7.26%	2.52%	-3.24%	-0.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	43.49%	44.38%	43.20%	49.35%	44.41%	32.86%	35.13%	42.66%	44.21%	42.39%
EBIT Margin	37.81%	40.31%	38.50%	44.54%	38.84%	27.25%	29.38%	37.14%	38.98%	36.98%
Profit (Net Income) Margin	28.84%	30.51%	29.19%	33.32%	29.55%	20.95%	23.50%	28.45%	30.92%	28.55%
Tax Burden Percent	76.29%	75.70%	75.81%	74.81%	76.08%	76.87%	79.97%	76.61%	79.32%	77.21%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	23.71%	24.30%	24.19%	25.19%	23.93%	23.13%	20.03%	23.39%	20.68%	22.79%
Return on Invested Capital (ROIC)	8.16%	9.20%	8.72%	9.15%	8.36%	5.51%	5.36%	6.11%	6.84%	6.37%
ROIC Less NNEP Spread (ROIC-NNEP)	8.16%	9.20%	8.72%	9.15%	8.36%	5.51%	5.36%	6.11%	6.84%	6.37%
Return on Net Nonoperating Assets (RNNOA)	1.52%	2.35%	3.62%	3.45%	2.96%	2.22%	3.13%	3.54%	3.48%	3.09%
Return on Equity (ROE)	9.68%	11.55%	12.33%	12.60%	11.32%	7.73%	8.49%	9.65%	10.32%	9.47%
Cash Return on Invested Capital (CROIC)	-26.86%	-34.68%	-52.72%	-23.12%	-21.22%	-13.35%	-2.42%	-2.39%	-1.50%	0.89%
Operating Return on Assets (OROA)	1.55%	1.85%	1.99%	2.11%	1.88%	1.28%	1.33%	1.64%	1.70%	1.65%
Return on Assets (ROA)	1.18%	1.40%	1.51%	1.58%	1.43%	0.99%	1.07%	1.26%	1.35%	1.27%
Return on Common Equity (ROCE)	8.83%	10.54%	11.26%	11.62%	10.43%	7.13%	7.84%	8.81%	9.50%	8.72%
Return on Equity Simple (ROE_SIMPLE)	6.67%	0.00%	9.19%	11.56%	11.55%	0.00%	9.46%	8.30%	8.27%	0.00%
Net Operating Profit after Tax (NOPAT)	647	766	702	867	690	482	531	655	721	681
NOPAT Margin	28.84%	30.51%	29.19%	33.32%	29.55%	20.95%	23.50%	28.45%	30.92%	28.55%
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%
SG&A Expenses to Revenue	43.71%	38.76%	44.57%	38.47%	42.48%	43.33%	48.76%	45.18%	45.03%	45.20%
Operating Expenses to Revenue	57.06%	56.10%	56.51%	49.69%	54.73%	62.97%	61.77%	56.34%	55.87%	57.15%
Earnings before Interest and Taxes (EBIT)	848	1,012	926	1,159	907	627	664	855	909	882
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	975	1,114	1,039	1,284	1,037	756	794	982	1,031	1,011
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.27	1.00	0.82	0.83	0.84	0.88	0.96	0.98	1.12	1.17
Price to Tangible Book Value (P/TBV)	2.04	1.60	1.31	1.30	1.30	1.35	1.46	1.48	1.66	1.73
Price to Revenue (P/Rev)	4.11	2.85	2.11	2.02	2.05	2.28	2.54	2.75	3.24	3.36
Price to Earnings (P/E)	17.35	11.70	8.26	6.68	6.75	8.04	9.39	10.72	12.47	12.05
Dividend Yield	2.85%	3.56%	4.27%	4.20%	4.18%	3.92%	3.58%	3.47%	2.98%	2.85%
Earnings Yield	5.76%	8.55%	12.10%	14.97%	14.82%	12.44%	10.65%	9.32%	8.02%	8.30%
Enterprise Value to Invested Capital (EV/IC)	0.28	0.19	0.29	0.20	0.11	0.19	0.20	0.39	0.46	0.62
Enterprise Value to Revenue (EV/Rev)	1.15	0.78	1.27	0.83	0.43	0.80	0.90	1.90	2.14	2.85
Enterprise Value to EBITDA (EV/EBITDA)	3.17	2.09	3.29	1.84	0.94	1.88	2.21	4.91	5.53	6.93
Enterprise Value to EBIT (EV/EBIT)	3.77	2.43	3.79	2.06	1.05	2.14	2.55	5.74	6.45	8.00
Enterprise Value to NOPAT (EV/NOPAT)	4.92	3.19	4.98	2.73	1.39	2.83	3.33	7.43	8.24	10.23
Enterprise Value to Operating Cash Flow (EV/OCF)	1.92	1.39	3.13	2.15	1.04	1.99	2.09	4.19	7.20	7.33
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	71.55
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.17	0.30	0.57	0.59	0.53	0.50	0.60	0.57	0.49	0.47
Long-Term Debt to Equity	0.14	0.16	0.29	0.29	0.27	0.30	0.42	0.40	0.40	0.43
Financial Leverage	0.19	0.26	0.42	0.38	0.35	0.40	0.58	0.58	0.51	0.49
Leverage Ratio	8.18	8.23	8.16	7.98	7.91	7.82	7.96	7.68	7.64	7.44
Compound Leverage Factor	8.18	8.23	8.16	7.98	7.91	7.82	7.96	7.68	7.64	7.44
Debt to Total Capital	14.77%	22.90%	36.29%	37.26%	34.59%	33.40%	37.42%	36.14%	32.95%	32.01%
Short-Term Debt to Total Capital	3.10%	10.83%	17.56%	19.23%	16.81%	13.13%	11.04%	10.70%	6.05%	2.48%
Long-Term Debt to Total Capital	11.67%	12.07%	18.73%	18.03%	17.79%	20.26%	26.37%	25.43%	26.90%	29.53%
Preferred Equity to Total Capital	6.78%	6.12%	5.05%	4.89%	5.02%	4.97%	4.63%	6.17%	5.56%	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%
Common Equity to Total Capital	78.44%	70.98%	58.66%	57.85%	60.39%	61.63%	57.95%	57.70%	61.49%	62.38%
Debt to EBITDA	1.67	2.47	4.10	3.47	3.10	3.28	4.20	4.51	3.98	3.58
Net Debt to EBITDA	-8.90	-6.22	-2.74	-3.09	-4.03	-3.96	-4.55	-2.94	-3.49	-1.86
Long-Term Debt to EBITDA	1.32	1.30	2.12	1.68	1.59	1.99	2.96	3.17	3.25	3.30
Debt to NOPAT	2.60	3.78	6.20	5.14	4.58	4.93	6.32	6.82	5.94	5.28
Net Debt to NOPAT	-13.82	-9.52	-4.15	-4.57	-5.96	-5.94	-6.85	-4.45	-5.21	-2.75
Long-Term Debt to NOPAT	2.05	1.99	3.20	2.49	2.36	2.99	4.46	4.80	4.85	4.87
Noncontrolling Interest Sharing Ratio	8.79%	8.70%	8.69%	7.79%	7.82%	7.69%	7.65%	8.77%	8.00%	7.87%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-7,854	-10,636	-17,763	-10,327	-9,727	-7,154	-3,048	-2,727	-2,292	-1,537
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%
Free Cash Flow to Firm to Interest Expense	-76.39	-43.47	-34.90	-14.40	-11.23	-7.03	-2.86	-2.55	-2.16	-1.57
Operating Cash Flow to Interest Expense	11.06	3.90	0.84	1.75	1.64	0.79	0.57	1.26	-0.03	1.71
Operating Cash Flow Less CapEx to Interest Expense	11.06	3.90	0.84	1.75	1.64	0.79	0.57	1.26	-0.03	1.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.05	0.05	0.05	0.05	0.05	0.05	0.04	0.04	0.04
Fixed Asset Turnover	5.25	5.84	6.53	5.96	5.97	5.68	5.64	5.42	5.45	5.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	29,634	32,838	39,835	41,125	40,051	40,474	43,414	44,507	43,064	42,692
Invested Capital Turnover	0.28	0.30	0.30	0.27	0.28	0.26	0.23	0.21	0.22	0.22
Increase / (Decrease) in Invested Capital	8,501	11,402	18,465	11,194	10,417	7,636	3,579	3,382	3,013	2,218
Enterprise Value (EV)	8,293	6,353	11,614	8,126	4,216	7,754	8,554	17,512	19,695	26,472
Market Capitalization	29,552	23,301	19,270	19,746	20,234	22,026	24,137	25,255	29,746	31,195
Book Value per Share	$132.37	$135.02	$139.26	$143.43	$145.74	$150.31	$151.14	$153.91	$158.57	$160.51
Tangible Book Value per Share	$82.67	$84.63	$87.51	$91.32	$93.76	$98.42	$99.49	$102.46	$107.25	$108.93
Total Capital	29,634	32,838	39,835	41,125	40,051	40,474	43,414	44,507	43,064	42,692
Total Debt	4,377	7,520	14,458	15,325	13,854	13,517	16,245	16,083	14,188	13,665
Total Long-Term Debt	3,459	3,965	7,463	7,417	7,123	8,201	11,450	11,319	11,583	12,605
Net Debt	-23,270	-18,959	-9,666	-13,631	-18,029	-16,283	-17,594	-10,487	-12,445	-7,117
Capital Expenditures (CapEx)	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
Net Nonoperating Obligations (NNO)	4,377	7,520	14,458	15,325	13,854	13,517	16,245	16,083	14,188	13,665
Total Depreciation and Amortization (D&A)	127	102	113	125	130	129	130	127	122	129
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.55	$4.33	$0.00	$5.07	$4.00	$2.75	$3.04	$3.75	$4.04	$3.88
Adjusted Weighted Average Basic Shares Outstanding	174.61M	167.79M	0.00	165.84M	165.91M	166.62M	166.46M	166.95M	166.67M	164.33M
Adjusted Diluted Earnings per Share	$3.53	$4.30	$0.00	$5.05	$3.98	$2.75	$3.02	$3.73	$4.02	$3.87
Adjusted Weighted Average Diluted Shares Outstanding	175.68M	167.79M	0.00	166.32M	166.57M	166.62M	167.08M	167.66M	167.57M	164.33M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	172.61M	167.79M	0.00	165.95M	165.96M	166.62M	166.85M	167.00M	165.92M	164.33M
Normalized Net Operating Profit after Tax (NOPAT)	647	766	702	867	690	482	531	655	721	681
Normalized NOPAT Margin	28.84%	30.51%	29.19%	33.32%	29.55%	20.95%	23.50%	28.45%	30.92%	28.55%
Pre Tax Income Margin	37.81%	40.31%	38.50%	44.54%	38.84%	27.25%	29.38%	37.14%	38.98%	36.98%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.24	4.13	1.82	1.62	1.05	0.62	0.62	0.80	0.86	0.90
NOPAT to Interest Expense	6.29	3.13	1.38	1.21	0.80	0.47	0.50	0.61	0.68	0.70
EBIT Less CapEx to Interest Expense	8.24	4.13	1.82	1.62	1.05	0.62	0.62	0.80	0.86	0.90
NOPAT Less CapEx to Interest Expense	6.29	3.13	1.38	1.21	0.80	0.47	0.50	0.61	0.68	0.70
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	49.11%	44.23%	40.68%	31.87%	31.62%	35.32%	37.67%	41.82%	42.32%	39.92%
Augmented Payout Ratio	120.36%	134.59%	143.35%	92.04%	71.10%	56.99%	37.67%	41.82%	50.61%	55.22%

Frequently Asked Questions About M&T Bank's Financials

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

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

How has M&T Bank's net income changed over the last 9 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 $1.08 billion in 2015. The previous period was $2.74 billion in 2023.

How has M&T Bank revenue changed over the last 9 years?

Over the last 9 years, M&T Bank's total revenue changed from $4.67 billion in 2015 to $9.28 billion in 2024, a change of 98.8%.

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 68.0% increase since 2015.

How much cash does M&T Bank have?

In the past 9 years, M&T Bank's cash and equivalents has ranged from $1.32 billion in 2016 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 9 years?

Over the last 9 years, M&T Bank's book value per share changed from 112.10 in 2015 to 160.51 in 2024, a change of 43.2%.

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This page (NYSE:MTB) was last updated on 4/16/2025 by MarketBeat.com Staff

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M&T Bank (MTB) Financials

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