MTB Financials M&T Bank

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 81 d ago Overview →

Growth & profitability

Revenue has grown 2.8% per year over the past 5 years.
Net income has grown faster than revenue (16.1% vs 2.8% per year).
Free cash flow has grown 12.9% per year over the past 5 years.

Financial health

The company holds more cash ($18.8B) than total debt ($13.1B).
Total debt has grown faster than revenue (24.1% vs 2.8% per year).

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 31.5% of earnings.
The dividend has grown 9.6% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$1.7B	$2.9B	0.0%	0.0%	9.8%	1.3%	—	$13.1B	$18.8B
2024	$1.5B	$2.6B	0.0%	0.0%	8.9%	1.2%	—	$13.7B	$20.8B
2023	$1.5B	$2.7B	0.0%	0.0%	10.2%	1.3%	$3.6B	$13.5B	$29.8B
2022	$1.5B	$2.0B	0.0%	0.0%	7.9%	1.0%	$4.4B	$7.5B	$26.5B
2021	—	$1.9B	—	—	10.4%	1.2%	$2.6B	$3.5B	$1.3B
2020	—	$1.4B	—	—	8.4%	0.9%	$617M	$4.4B	$1.6B
2019	—	$1.9B	—	—	12.3%	1.6%	$2.2B	$7.0B	$1.4B
2018	—	$1.9B	—	—	12.4%	1.6%	$2.0B	$12.8B	$1.6B
2017	—	$1.4B	—	—	8.7%	1.2%	$2.7B	$8.3B	$1.4B
2016	—	$1.3B	—	—	8.0%	1.1%	$1.1B	$9.7B	$1.3B
2015	—	$1.1B	—	—	6.7%	0.9%	—	$12.8B	$1.4B
2014	—	$1.1B	—	—	8.6%	1.1%	—	$9.2B	—
2013	—	$1.1B	—	—	10.1%	1.3%	$802M	$5.4B	—
2012	—	$1.0B	—	—	10.1%	1.2%	$408M	$5.7B	—
2011	—	$859M	—	—	9.3%	1.1%	$1.7B	$7.5B	—

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Mar '26	$418M	$664M	0.0%	0.0%	2.4%	0.3%	—	$19.0B	$16.3B
Dec '25	$420M	$759M	0.0%	0.0%	2.6%	0.4%	—	$13.1B	$18.8B
Sep '25	$423M	$792M	0.0%	0.0%	2.8%	0.4%	—	$15.0B	$1.9B
Jun '25	$417M	$716M	0.0%	0.0%	2.5%	0.3%	—	$14.5B	$2.1B
Mar '25	$397M	$584M	0.0%	0.0%	2.0%	0.3%	—	$12.1B	$22.8B
Dec '24	$392M	$681M	0.0%	0.0%	2.3%	0.3%	—	$13.7B	$20.8B
Sep '24	$394M	$721M	0.0%	0.0%	2.5%	0.3%	—	$14.2B	$2.2B
Jun '24	$388M	$655M	0.0%	0.0%	2.3%	0.3%	—	$16.1B	$1.8B
Mar '24	$367M	$531M	0.0%	0.0%	2.0%	0.2%	—	$16.2B	$1.7B
Dec '23	$365M	$482M	0.0%	0.0%	1.8%	0.2%	—	$13.5B	$29.8B
Sep '23	$360M	$690M	0.0%	0.0%	2.6%	0.3%	—	$13.9B	$1.8B
Jun '23	$376M	$867M	0.0%	0.0%	3.4%	0.4%	—	$15.3B	$1.8B
Mar '23	—	$702M	—	—	2.8%	0.3%	—	$14.5B	$1.8B
Dec '22	—	$766M	—	—	3.0%	0.4%	—	$7.5B	$26.5B
Sep '22	—	$647M	—	—	2.6%	0.3%	—	$4.4B	$2.3B
Jun '22	—	$218M	—	—	0.8%	0.1%	—	$4.1B	$1.7B
Mar '22	—	$362M	—	—	2.0%	0.2%	—	$3.5B	$1.4B
Dec '21	—	$458M	—	—	2.6%	0.3%	—	$3.5B	$1.3B
Sep '21	—	$495M	—	—	2.8%	0.3%	—	$3.6B	$1.5B
Jun '21	—	$458M	—	—	2.7%	0.3%	—	$3.6B	$1.4B

Valuation over time

How the market has priced MTB against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 8.7× (Mar '23) to 12.2× (Sep '26).
The price-to-sales ratio has risen from 11.3× (Mar '23) to 20.9× (Sep '26).
The dividend yield has fallen from 4.5% (Mar '23) to 2.6% (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is MTB growing its revenue and profit?

Over the past 5 years, M&T Bank's revenue has grown 2.8% per year, and net income grown 16.1% per year. These are computed facts, not advice.

How much debt does MTB have?

As of FY2025, M&T Bank reported $13.1B of total debt against $18.8B of cash.

What is MTB's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin 172.1%.

What is MTB's P/E ratio?

As of Sep '26, M&T Bank traded at a price-to-earnings ratio of about 12.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.