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Stocks · Financials · State Commercial Banks

M&T Bank

MTB Clue Score51
United States Fiscal year ends December CIK 0000036270
$217.49 -0.03% Close, 9 Oct 2026
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Price $217.49 +43.58% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2016Revenue5.30Net income1.32EPS, diluted7.78Fiscal year 2017Revenue5.63 +6.4%Net income1.41 +7.1%EPS, diluted8.70 +11.8%Fiscal year 2018Revenue5.93 +5.3%Net income1.92 +36.2%EPS, diluted12.74 +46.4%Fiscal year 2019Revenue6.19 +4.4%Net income1.93 +0.6%EPS, diluted13.75 +7.9%Fiscal year 2020Revenue5.95 −3.8%Net income1.35 −29.9%EPS, diluted9.94 −27.7%Fiscal year 2021Revenue5.99 +0.6%Net income1.86 +37.4%EPS, diluted13.80 +38.8%Fiscal year 2022Revenue1.53 −74.5%Net income1.99 +7.2%EPS, diluted11.53 −16.4%Fiscal year 2023Revenue1.48 −2.7%Net income2.74 +37.6%EPS, diluted15.79 +36.9%Fiscal year 2024Revenue1.54 +3.8%Net income2.59 −5.6%EPS, diluted14.64 −7.3%Fiscal year 2025Revenue1.66 +7.5%Net income2.85 +10.2%EPS, diluted17.00 +16.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 5.30 5.63 5.93 6.19 5.95 5.99 1.53 1.48 1.54 1.66
Growth +6.4% +5.3% +4.4% −3.8% +0.6% −74.5% −2.7% +3.8% +7.5%
Net income 1.32 1.41 1.92 1.93 1.35 1.86 1.99 2.74 2.59 2.85
Growth +7.1% +36.2% +0.6% −29.9% +37.4% +7.2% +37.6% −5.6% +10.2%
EPS, diluted 7.78 8.70 12.74 13.75 9.94 13.80 11.53 15.79 14.64 17.00
Growth +11.8% +46.4% +7.9% −27.7% +38.8% −16.4% +36.9% −7.3% +16.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2016Net margin24.8%Free cash flow margin20.3%Fiscal year 2017Net margin25.0%Free cash flow margin48.0%Fiscal year 2018Net margin32.4%Free cash flow margin33.6%Fiscal year 2019Net margin31.2%Free cash flow margin35.2%Fiscal year 2020Net margin22.7%Free cash flow margin10.4%Fiscal year 2021Net margin31.0%Free cash flow margin42.8%Fiscal year 2022Net margin130.6%Free cash flow margin285.9%Fiscal year 2023Net margin184.7%Free cash flow margin245.9%Fiscal year 2024Net margin167.9%Fiscal year 2025Net margin172.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net margin 24.8% 25.0% 32.4% 31.2% 22.7% 31.0% 130.6% 184.7% 167.9% 172.1%
Free cash flow margin 20.3% 48.0% 33.6% 35.2% 10.4% 42.8% 285.9% 245.9% n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.18Capital expenditure−0.11Free cash flow1.08Buybacks−0.64Dividends paid−0.44Fiscal year 2017Operating cash flow2.78Capital expenditure−0.08Free cash flow2.70 +151.3%Buybacks−1.21Dividends paid−0.46Fiscal year 2018Operating cash flow2.09Capital expenditure−0.10Free cash flow1.99 −26.3%Buybacks−2.19Dividends paid−0.51Fiscal year 2019Operating cash flow2.36Capital expenditure−0.18Free cash flow2.18 +9.4%Buybacks−1.35Dividends paid−0.55Fiscal year 2020Operating cash flow0.79Capital expenditure−0.17Free cash flow0.62 −71.7%Buybacks−0.37Dividends paid−0.57Fiscal year 2021Operating cash flow2.72Capital expenditure−0.15Free cash flow2.57 +315.8%Dividends paid−0.58Fiscal year 2022Operating cash flow4.57Capital expenditure−0.21Free cash flow4.36 +69.9%Buybacks−1.80Dividends paid−0.78Fiscal year 2023Operating cash flow3.91Capital expenditure−0.26Free cash flow3.65 −16.3%Buybacks−0.59Dividends paid−0.87Fiscal year 2024Operating cash flow3.61Buybacks−0.40Dividends paid−0.90Fiscal year 2025Operating cash flow3.00Buybacks−2.63Dividends paid−0.90
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.18 2.78 2.09 2.36 0.79 2.72 4.57 3.91 3.61 3.00
Capital expenditure −0.11 −0.08 −0.10 −0.18 −0.17 −0.15 −0.21 −0.26 n/a n/a
Free cash flow 1.08 2.70 1.99 2.18 0.62 2.57 4.36 3.65 n/a n/a
Growth +151.3% −26.3% +9.4% −71.7% +315.8% +69.9% −16.3%
Buybacks −0.64 −1.21 −2.19 −1.35 −0.37 n/a −1.80 −0.59 −0.40 −2.63
Dividends paid −0.44 −0.46 −0.51 −0.55 −0.57 −0.58 −0.78 −0.87 −0.90 −0.90

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash1.32Total debt9.49Net cash (debt)−8.17Shareholders’ equity16.49Debt to equity0.58Fiscal year 2017Cash1.42Total debt8.14Net cash (debt)−6.72Shareholders’ equity16.25Debt to equity0.50Fiscal year 2018Cash1.61Total debt8.44Net cash (debt)−6.84Shareholders’ equity15.46Debt to equity0.55Fiscal year 2019Cash1.44Total debt6.99Net cash (debt)−5.55Shareholders’ equity15.72Debt to equity0.44Fiscal year 2020Cash1.55Total debt4.38Net cash (debt)−2.83Shareholders’ equity16.19Debt to equity0.27Fiscal year 2021Cash1.34Total debt3.49Net cash (debt)−2.15Shareholders’ equity17.90Debt to equity0.19Fiscal year 2022Cash26.48Total debt3.97Net cash (debt)22.51Shareholders’ equity25.32Debt to equity0.16Fiscal year 2023Cash29.80Total debt8.20Net cash (debt)21.60Shareholders’ equity26.96Debt to equity0.30Fiscal year 2024Cash20.78Total debt12.61Net cash (debt)8.18Shareholders’ equity29.03Debt to equity0.43Fiscal year 2025Cash18.77Total debt10.91Net cash (debt)7.86Shareholders’ equity29.18Debt to equity0.37
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.32 1.42 1.61 1.44 1.55 1.34 26.48 29.80 20.78 18.77
Total debt 9.49 8.14 8.44 6.99 4.38 3.49 3.97 8.20 12.61 10.91
Net cash (debt) −8.17 −6.72 −6.84 −5.55 −2.83 −2.15 22.51 21.60 8.18 7.86
Shareholders’ equity 16.49 16.25 15.46 15.72 16.19 17.90 25.32 26.96 29.03 29.18
Debt to equity 0.58 0.50 0.55 0.44 0.27 0.19 0.16 0.30 0.43 0.37

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
5.30 5.63 5.93 6.19 5.95 5.99 1.53 1.48 1.54 1.66
Growth +6.4% +5.3% +4.4% −3.8% +0.6% −74.5% −2.7% +3.8% +7.5%
2.06 2.32 2.51 2.55 1.77 2.46 2.61 3.62 3.31 3.69
0.74 0.92 0.59 0.62 0.42 0.60 0.62 0.88 0.72 0.84
1.32 1.41 1.92 1.93 1.35 1.86 1.99 2.74 2.59 2.85
Growth +7.1% +36.2% +0.6% −29.9% +37.4% +7.2% +37.6% −5.6% +10.2%
Per share
7.80 8.72 12.75 13.76 9.94 13.81 11.59 15.85 14.71 17.10
7.78 8.70 12.74 13.75 9.94 13.80 11.53 15.79 14.64 17.00
Growth +11.8% +46.4% +7.9% −27.7% +38.8% −16.4% +36.9% −7.3% +16.1%
156.8 152.2 144.0 134.4 128.6 128.6 163.2 166.4 166.5 157.9
157.3 152.6 144.2 134.5 128.7 128.8 164.0 167.0 167.3 158.8
Growth −3.0% −5.5% −6.7% −4.3% +0.1% +27.3% +1.8% +0.2% −5.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 22.6% a year over five years, and earnings per share grew 11.3% a year.
  • The diluted share count rose 23.4% in five years, which is dilution.
  • Profitable in every one of the 10 years on file.