M&T Bank US Financials

MTB

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows M&T Bank US (MTB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue

$1.5B

YoY+3.8%

5Y CAGR-24.3%

10Y CAGR-10.1%

M&T Bank US generated $1.5B in revenue in fiscal year 2024. This represents an increase of 3.8% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$2.6B

YoY-5.6%

5Y CAGR+6.1%

10Y CAGR+9.3%

M&T Bank US reported $2.6B in net income in fiscal year 2024. This represents a decrease of 5.6% from the prior year.

EPS (Diluted)

$14.64

YoY-7.3%

5Y CAGR+1.3%

10Y CAGR+7.0%

M&T Bank US earned $14.64 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 7.3% from the prior year.

Cash & Debt

N/A

Dividends Per Share

$5.35

YoY+2.9%

10Y CAGR+6.7%

M&T Bank US paid $5.35 per share in dividends in fiscal year 2024. This represents an increase of 2.9% from the prior year.

Shares Outstanding

164M

5Y CAGR+4.7%

10Y CAGR+2.1%

M&T Bank US had 164M shares outstanding in fiscal year 2024.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

167.9%

YoY-16.8pp

5Y CAGR+136.8pp

10Y CAGR+144.0pp

M&T Bank US's net profit margin was 167.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 16.8 percentage points from the prior year.

Return on Equity

8.9%

YoY-1.2pp

5Y CAGR-3.4pp

10Y CAGR+0.3pp

M&T Bank US's ROE was 8.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.2 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$396.0M

YoY-33.3%

5Y CAGR-21.7%

M&T Bank US spent $396.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 33.3% from the prior year.

Capital Expenditures

N/A

MTB Income Statement

Metric	FY24	FY24	FY24	FY23	FY22	FY21
Revenue	$1.5B+3.8%	$1.5B-2.7%	$1.5B-74.5%	$6.0B+0.6%	$6.0B-3.8%	$6.2B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$4.2B+34.3%	$3.1B+631.5%	$425.0M+272.8%	$114.0M-65.1%	$326.4M-56.4%	$749.3M
Income Tax	$722.0M-17.8%	$878.0M+41.6%	$620.0M+4.0%	$596.0M+43.1%	$416.4M-32.6%	$618.1M
Net Income	$2.6B-5.6%	$2.7B+37.6%	$2.0B+7.2%	$1.9B+37.4%	$1.4B-29.9%	$1.9B
EPS (Diluted)	$14.64-7.3%	$15.79+36.9%	$11.53-16.4%	$13.80+38.8%	$9.94-27.7%	$13.75

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$423.0M+1.4%	$417.0M+5.0%	$397.0M+1.3%	$392.0M-0.5%	$394.0M+1.5%	$388.0M+5.7%	$367.0M	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$919.0M+2.6%	$896.0M+3.6%	$865.0M-11.6%	$979.0M-7.6%	$1.1B-1.1%	$1.1B+0.6%	$1.1B	N/A
Income Tax	$233.0M+6.4%	$219.0M+23.7%	$177.0M-11.9%	$201.0M+6.9%	$188.0M-6.0%	$200.0M+50.4%	$133.0M	N/A
Net Income	$792.0M+10.6%	$716.0M+22.6%	$584.0M-14.2%	$681.0M-5.5%	$721.0M+10.1%	$655.0M+23.4%	$531.0M	N/A
EPS (Diluted)	$4.82+13.7%	$4.24+27.7%	$3.32-14.2%	$3.87-3.7%	$4.02+7.8%	$3.73+23.5%	$3.02	N/A

MTB Balance Sheet

Metric	FY24	FY24	FY24	FY23	FY22	FY21
Total Assets	$208.1B-0.1%	$208.3B+3.8%	$200.7B+29.4%	$155.1B+8.8%	$142.6B+19.0%	$119.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	N/A	N/A	N/A	N/A
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$8.5B0.0%	$8.5B-0.3%	$8.5B+84.8%	$4.6B0.0%	$4.6B0.0%	$4.6B
Total Liabilities	$179.1B-1.2%	$181.3B+3.4%	$175.4B+27.8%	$137.2B+8.5%	$126.4B+21.4%	$104.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$12.6B+53.7%	$8.2B+106.8%	$4.0B+13.8%	$3.5B-20.5%	$4.4B-37.3%	$7.0B
Total Equity	$29.0B+7.7%	$27.0B+6.5%	$25.3B+41.4%	$17.9B+10.6%	$16.2B+3.0%	$15.7B
Retained Earnings	$19.1B+8.9%	$17.5B+11.2%	$15.8B+7.6%	$14.6B+8.9%	$13.4B+4.9%	$12.8B

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$211.3B-0.1%	$211.6B+0.6%	$210.3B+1.1%	$208.1B-1.7%	$211.8B+1.4%	$208.9B-2.9%	$215.1B+3.3%	$208.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$8.5B0.0%	$8.5B0.0%	$8.5B0.0%	$8.5B0.0%	$8.5B0.0%	$8.5B0.0%	$8.5B0.0%	$8.5B
Total Liabilities	$182.5B-0.3%	$183.1B+1.0%	$181.3B+1.3%	$179.1B-2.1%	$182.9B+1.4%	$180.4B-4.0%	$188.0B+3.7%	$181.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$12.9B+4.4%	$12.4B+17.9%	$10.5B-16.7%	$12.6B+8.8%	$11.6B+2.3%	$11.3B-1.1%	$11.4B+39.6%	$8.2B
Total Equity	$28.7B+0.7%	$28.5B-1.6%	$29.0B-0.1%	$29.0B+0.5%	$28.9B+1.6%	$28.4B+4.6%	$27.2B+0.8%	$27.0B
Retained Earnings	$20.4B+2.6%	$19.9B+2.4%	$19.4B+1.7%	$19.1B+2.3%	$18.7B+2.5%	$18.2B+2.2%	$17.8B+1.6%	$17.5B

MTB Cash Flow Statement

Metric	FY24	FY24	FY24	FY23	FY22	FY21
Operating Cash Flow	$3.6B-7.6%	$3.9B-14.6%	$4.6B+68.5%	$2.7B+244.0%	$789.2M-66.5%	$2.4B
Capital Expenditures	N/A	$256.0M+19.6%	$214.0M+43.6%	$149.0M-13.4%	$172.0M-3.4%	$178.0M
Free Cash Flow	N/A	$3.6B-16.3%	$4.4B+69.9%	$2.6B+315.8%	$617.2M-71.7%	$2.2B
Investing Cash Flow	-$550.0M+93.0%	-$7.9B-147.5%	$16.6B+221.7%	-$13.6B+38.1%	-$22.0B-3128.9%	$727.0M
Financing Cash Flow	-$2.9B-168.9%	$4.2B+119.9%	-$21.0B-296.1%	$10.7B-49.9%	$21.3B+756.1%	-$3.3B
Dividends Paid	$895.0M+3.1%	$868.0M+10.7%	$784.0M+35.2%	$580.0M+2.1%	$568.1M+2.9%	$552.1M
Share Buybacks	$396.0M-33.3%	$594.0M-67.0%	$1.8B	N/A	$373.8M-72.3%	$1.3B

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	N/A	N/A	$635.0M	N/A	N/A	N/A	$608.0M	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	-$2.1B	N/A	N/A	N/A	-$7.1B	N/A
Financing Cash Flow	N/A	N/A	$1.7B	N/A	N/A	N/A	$6.4B	N/A
Dividends Paid	N/A	N/A	$225.0M	N/A	N/A	N/A	$221.0M	N/A
Share Buybacks	N/A	N/A	$656.0M	N/A	N/A	N/A	$0	N/A

MTB Financial Ratios

Metric	FY24	FY24	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	167.9%-16.8pp	184.7%+54.1pp	130.6%+99.6pp	31.0%+8.3pp	22.7%-8.4pp	31.2%
Return on Equity	8.9%-1.2pp	10.2%+2.3pp	7.9%-2.5pp	10.4%+2.0pp	8.4%-3.9pp	12.3%
Return on Assets	1.2%-0.1pp	1.3%+0.3pp	1.0%-0.2pp	1.2%+0.3pp	0.9%-0.7pp	1.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.43+0.1	0.30+0.1	0.16-0.0	0.19-0.1	0.27-0.2	0.44
FCF Margin	N/A	245.9%-40.0pp	285.9%+243.1pp	42.8%+32.5pp	10.4%-24.8pp	35.2%

Metric	Q3'25	Q2'25	Q1'25	Q3'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	187.2%+15.5pp	171.7%+24.6pp	147.1%-26.6pp	173.7%-9.3pp	183.0%+14.2pp	168.8%+24.1pp	144.7%	N/A
Return on Equity	2.8%+0.2pp	2.5%+0.5pp	2.0%-0.3pp	2.4%-0.2pp	2.5%+0.2pp	2.3%+0.3pp	1.9%	N/A
Return on Assets	0.4%+0.0pp	0.3%+0.1pp	0.3%-0.1pp	0.3%0.0pp	0.3%+0.0pp	0.3%+0.1pp	0.3%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.45+0.0	0.43+0.1	0.36-0.1	0.43+0.0	0.400.0	0.40-0.0	0.42+0.1	0.30
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Financial Health Signals

Piotroski F-Score Neutral

4/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Cash-Backed

1.39x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

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Frequently Asked Questions

What is M&T Bank US's annual revenue?

M&T Bank US (MTB) reported $1.5B in total revenue for fiscal year 2024. This represents a 3.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is M&T Bank US's revenue growing?

M&T Bank US (MTB) revenue grew by 3.8% year-over-year, from $1.5B to $1.5B in fiscal year 2024.

Is M&T Bank US profitable?

Yes, M&T Bank US (MTB) reported a net income of $2.6B in fiscal year 2024, with a net profit margin of 167.9%.

What is M&T Bank US's earnings per share (EPS)?

M&T Bank US (MTB) reported diluted earnings per share of $14.64 for fiscal year 2024. This represents a -7.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is M&T Bank US's net profit margin?

M&T Bank US (MTB) had a net profit margin of 167.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does M&T Bank US pay dividends?

Yes, M&T Bank US (MTB) paid $5.35 per share in dividends during fiscal year 2024.

What is M&T Bank US's return on equity (ROE)?

M&T Bank US (MTB) has a return on equity of 8.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is M&T Bank US's operating cash flow?

M&T Bank US (MTB) generated $3.6B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are M&T Bank US's total assets?

M&T Bank US (MTB) had $208.1B in total assets as of fiscal year 2024, including both current and long-term assets.

Does M&T Bank US buy back shares?

Yes, M&T Bank US (MTB) spent $396.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does M&T Bank US have outstanding?

M&T Bank US (MTB) had 164M shares outstanding as of fiscal year 2024.

What is M&T Bank US's debt-to-equity ratio?

M&T Bank US (MTB) had a debt-to-equity ratio of 0.43 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is M&T Bank US's return on assets (ROA)?

M&T Bank US (MTB) had a return on assets of 1.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is M&T Bank US's Piotroski F-Score?

M&T Bank US (MTB) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are M&T Bank US's earnings high quality?

M&T Bank US (MTB) has an earnings quality ratio of 1.39x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.