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M&T Bank Corporation

MTB Financial Banks Regional

M&T Bank Corporation’s revenue for fiscal 2025 (year ended December 2025) was $13.2 billion, down 1.67% from fiscal 2024. In the quarter to June 2026, revenue grew 2.07%, EPS grew 25.6%, free cash flow grew 52.4% and total debt rose 9.60%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years.

215.28 3.37 −1.54%
Market cap
$31.6B
P/E
11.3×
Fwd P/E
11.9×
Dividend yield
2.79%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 26.38
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 2 — 2 5 — — 1 3 2 4 1 —
Insider Ownership 1.36%

Capital & Financial Ratios $m

Market Cap 31,580.00
Revenue 13,350.00
Net Income 3,033.00
Free Cash Flow 3,595.00
Net Debt (3,870.00)
Current Ratio 0.96
Debt/Equity 0.49
P/E ratio 11.29
Fwd P/E 11.90
P/S ratio 2.35
P/B ratio 1.23
Past 5Y EPS Growth 11.33%
This Y EPS Growth 13.52%
Next Y EPS Growth 8.85%
Next Y revenue growth (24.00%) (below 0%: weak)
Next 5Y EPS Growth 10.05%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 26.50%
10-year low 10-year high
P/S against its own 10 years 27.50%
10-year low 10-year high
P/B against its own 10 years 45.78%
10-year low 10-year high

Dividends

Payout Ratio 0.32
Annual Dividend Rate 6.00
Annual Dividend Yield 2.79%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 6.15
1.50
1.50
1.50
2025 5.70
1.35
1.35
1.50
1.50
2024 5.35
1.30
1.35
1.35
1.35
2023 5.20
1.30
1.30
1.30
1.30
2022 4.80
1.20
1.20
1.20
1.20
2021 4.50
1.10
1.10
1.10
1.20
2020 4.40
1.10
1.10
1.10
1.10
2019 4.10
1.00
1.00
1.00
1.10
2018 3.55
0.75
0.80
1.00
1.00
2017 3.00
0.75
0.75
0.75
0.75
2016 2.80
0.70
0.70
0.70
0.70
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 29,906 20,883 18,866 17,438
Receivables — — — —
Inventory — — — —
Other — — — —
171,016 163,790 166,703 170,648
2023 2024 2025 Q'26
Payables 163,274 161,095 166,909 168,885
ST’ Debt — — — —
Other — — — —
173,106 166,473 173,422 177,747

Compound Annual Growth %

10y 5y 3y
Sales 10.23% 16.06% 15.42%
Cash Flow 5.59% 30.64% (13.09%)
Earnings 10.58% 16.11% 12.59%
Book Value 6.08% 12.51% 4.84%

Revenue $m

Mar Jun Sep Dec Year
’26 3,225 3,360 — — —
’25 3,171 3,292 3,432 3,333 13,228
’24 3,325 3,373 3,391 3,364 13,453
’23 2,914 3,319 3,201 3,318 12,752
’22 1,469 2,036 2,345 2,754 8,604
’21 1,523 1,484 1,562 1,537 6,106
’20 1,650 1,520 1,522 1,590 6,281
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,012 1,268 — — —
’25 635 844 1,001 523 3,003
’24 608 1,354 (28) 1,676 3,610
’23 428 1,257 1,420 800 3,905
’22 1,296 1,187 1,137 954 4,574
’21 995 537 486 697 2,715
’20 (394) 526 (6) 664 789
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 916 1,247 — — —
’25 610 818 965 467 2,860
’24 573 1,288 (58) 1,591 3,394
’23 373 1,211 1,353 712 3,649
’22 1,268 1,128 1,098 867 4,360
’21 964 524 444 635 2,566
’20 (446) 483 (38) 617 617
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 4.13 5.32 — — —
’25 3.32 4.24 4.82 4.67 17.00
’24 3.02 3.73 4.02 3.86 14.64
’23 4.01 5.05 3.98 2.74 15.79
’22 2.62 1.08 3.53 4.29 11.53
’21 3.33 3.41 3.69 3.37 13.80
’20 1.93 1.74 2.75 3.52 9.94
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 100.08 141.12 133.78 141.11 85.09 125.45 138.43 108.53 128.31 150.75

Analyst estimates 2026–2028

Powerpack
High 158.35 176.62 197.37 176.11 174.00 168.27 193.42 161.99 225.70 208.26
People
People Employees 16,973 16,794 17,267 17,773 17,373 17,569 22,808 22,223 22,354 22,278
Revenue/emp, $m 0.34 0.36 0.37 0.39 0.36 0.35 0.38 0.57 0.60 0.59
Income, $m
Income, $m Revenue 5,722 6,019 6,455 6,941 6,281 6,106 8,604 12,752 13,453 13,228
Gross margin, % 92.56 93.57 91.84 89.20 94.80 98.13 95.06 75.62 68.97 73.25
EBT 2,058 2,324 2,508 2,547 1,770 2,455 2,612 3,619 3,310 3,692
EBT margin, % 35.97 38.61 38.86 36.70 28.17 40.21 30.36 28.38 24.60 27.91
Net income 1,315 1,408 1,918 1,929 1,353 1,859 1,992 2,741 2,588 2,851
Depreciation 201 197 179 301 320 324 435 497 508 498
Per share, $
Per share, $ Revenue 36.50 39.56 44.83 51.64 48.83 47.46 52.73 76.65 80.81 83.79
Earnings 7.80 8.72 12.75 13.76 9.94 13.81 11.59 15.85 14.71 17.10
Cash flow 7.55 18.28 14.51 17.54 6.13 21.10 28.03 23.47 21.68 19.02
Capex (0.69) (0.52) (0.68) (1.32) (1.34) (1.16) (1.31) (1.54) (1.30) (0.91)
Free cash flow 6.86 17.76 13.84 16.21 4.80 19.95 26.72 21.93 20.39 18.12
Book value 105.16 106.80 107.37 116.92 125.84 139.16 155.16 162.04 174.36 184.81
Shares, m 157 152 144 134 129 129 163 166 166 158
Valuation, ×
Valuation, × P/E 20.09 19.68 11.18 12.34 12.81 11.12 12.52 8.77 12.78 11.76
P/S 4.29 4.33 3.19 3.29 2.61 3.24 2.75 1.81 2.33 2.40
P/B 1.61 1.73 1.45 1.58 1.10 1.22 1.01 0.93 1.18 1.21
EV/Sales 4.79 4.58 2.97 2.98 (0.88) (3.28) 0.12 0.11 1.71 1.81
EV/FCF 25.49 10.20 9.62 9.50 (8.96) (7.80) 0.23 0.39 6.78 8.37
Cash, $m
Cash, $m Operating cash flow 1,183 2,782 2,090 2,358 789 2,715 4,574 3,905 3,610 3,003
Capex (108) (79) (98) (178) (172) (149) (214) (256) (216) (143)
Free cash flow 1,076 2,703 1,992 2,180 617 2,566 4,360 3,649 3,394 2,860
Balance, $m
Balance, $m Working capital 4,364 4,417 5,925 7,442 7,755 8,491 (6,281) (2,090) (2,683) (6,719)
Total debt 9,494 8,141 8,445 6,986 4,382 3,485 3,965 8,201 12,605 10,911
Net debt 2,849 1,509 (1,451) (2,110) (21,903) (39,774) (22,632) (21,705) (8,278) (7,955)
Shareholders’ equity 16,487 16,251 15,460 15,717 16,187 17,903 25,318 26,957 29,027 29,177
Returns, %
Returns, % ROA 0.99 1.10 1.54 1.54 0.97 1.19 1.06 1.29 1.18 1.28
ROIC 6.65 8.18 11.19 11.70 0.00 0.00 60.78 43.07 9.97 10.87
ROE 8.10 8.77 12.55 12.89 8.70 11.43 9.58 10.93 9.50 10.19
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

M&T Bank Corporation vs peers in Banks Regional (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
KB KB Financial Group Inc $41.7B 10.1× — +25.89% (above 0%: growing) +12.12% (above 0%: growing) +482.05% (above 0%: growing) 61.64% 0.00% Compare
SHG Shinhan Financial Group Co Ltd $33.1B 9.5× 9.1× +27.14% (above 0%: growing) +10.37% (above 0%: growing) +120.93% (above 0%: growing) 63.24% 0.00% Compare
MTB M&T Bank Corporation $31.6B 11.3× 11.9× +2.07% (above 0%: growing) +25.59% (above 0%: growing) +52.44% (above 0%: growing) 75.36% 0.00%
HBAN Huntington Bancshares Incorporated $31.0B 11.6× 11.3× +37.66% (above 0%: growing) −2.86% (below 0%: shrinking) +105.40% (above 0%: growing) 68.08% 0.00% Compare
BAP Credicorp Ltd. $30.9B 14.5× 10.9× +12.23% (above 0%: growing) +16.83% (above 0%: growing) +76.09% (above 0%: growing) 82.34% 0.00% Compare
BBDO Banco Bradesco SA $28.5B 8.6× — +32.31% (above 0%: growing) +30.00% (above 0%: growing) −266.98% (below 0%: shrinking) 36.36% 0.00% Compare
CFG Citizens Financial Group, Inc. $26.7B 13.6× 12.3× +6.25% (above 0%: growing) +40.86% (above 0%: growing) −17.35% (below 0%: shrinking) 71.46% 0.00% Compare
RF Regions Financial Corporation $23.3B 11.1× 10.9× −2.14% (below 0%: shrinking) +8.47% (above 0%: growing) −39.63% (below 0%: shrinking) 80.19% 0.00% Compare
FCNCA First Citizens BancShares, Inc. $23.3B 11.4× 11.8× +0.11% (above 0%: growing) +31.07% (above 0%: growing) +28.65% (above 0%: growing) 67.05% 0.00% Compare
Median of peers $29.7B 11.2× 11.1× +19.06% +14.48% +52.37% 67.57% 0.00%

All 323 Banks Regional stocks →

MTB metrics, ten years each

M&T Bank Corporation (MTB) key facts

  • Concern: M&T Bank Corporation’s revenue for fiscal 2025 (year ended December 2025) was $13.2 billion, down 1.67% from fiscal 2024.
  • Strength: Net income was $2.9 billion, or $17.10 per share (basic), a net margin of 20.4%.
  • M&T Bank Corporation (MTB) is a Banks Regional company in the Financial sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, MTB traded at $215.28, a market capitalization of $31.6 billion.
  • At that price the stock trades at 11.3× trailing-twelve-month earnings and 2.4× sales; its P/E is higher than 27% of its own readings over the past ten years.
  • M&T Bank Corporation pays an annual dividend of $6.00 per share, a yield of 2.79%, with a payout ratio of 31.7%.
  • Return on equity was 10.2% and debt-to-equity 0.49.
  • Its Piotroski F-score is 7 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

M&T Bank Corporation (MTB) Latest News

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stockrow.com/MTB · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com