A Business at a Glance
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M&T is a New York business corporation that has elected to be treated as an FHC under the BHCA and is a BHC under Article III-A of the New York Banking Law. M&T was incorporated in November 1969. At December 31, 2025, M&T had two wholly-owned bank subsidiaries: M&T Bank and Wilmington Trust, N.A. The banks collectively offer a wide range of retail and commercial banking, wealth management, trust and institutional services to their customers. The Company had consolidated total assets of $213.5 billion, deposits of $166.9 billion and shareholders’ equity of $29.2 billion at December 31, 2025. The principal executive offices of M&T and M&T Bank are located in Buffalo, New York. M&T Bank is a banking corporation that is incorporated under the laws of the State of New York. M&T Bank is a member of the Federal Reserve System and the FHLB System, and its deposits are insured by the FDIC through its DIF up to applicable limits.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 13.2B | 13.2B | 13.5B | 12.8B | 8.6B | 6.1B |
| Net Income | 2.7B | 2.7B | 2.4B | 2.6B | 1.9B | 1.8B |
| EPS | $17.00 | $17.00 | $14.64 | $15.79 | $11.53 | $13.80 |
| Free Cash Flow | 2.9B | 2.9B | 3.4B | 3.6B | 4.4B | 2.6B |
| ROIC | 6.7% | 6.6% | 5.9% | 7.5% | 6.5% | 8.3% |
| Gross Margin | 79.0% | 79.0% | 76.8% | 81.3% | 89.1% | 96.9% |
| Debt/Equity | 0.45 | 0.45 | 0.47 | 0.50 | 0.30 | 0.20 |
| Dividends/Share | $5.66 | $5.70 | $5.35 | $5.20 | $4.78 | $4.51 |
| Operating Income | 726M | 726M | 632M | 809M | 703M | 483M |
| Operating Margin | 5.5% | 5.5% | 4.7% | 6.3% | 8.2% | 7.9% |
| ROE | 9.3% | 9.3% | 8.4% | 9.8% | 7.5% | 9.9% |
| Shares Outstanding | 159M | 159M | 167M | 167M | 164M | 129M |
M&T BANK CORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
M&T BANK CORP trades at 13.0x trailing earnings, compared to its 15-year median P/E of 11.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 11.5x vs a median of 8.4x. The company's 5-year average ROIC is 7.0% with a gross margin of 84.6%. Total shareholder yield (dividends + buybacks) is 10.0%. At current prices, the estimated annualized return to fair value is +11.9%.
M&T BANK CORP (MTB) has a current P/E ratio of 13.0, compared to its historical median P/E of 11.0. The stock is currently considered Fair based on its historical valuation range.
M&T BANK CORP (MTB) has a 5-year average return on invested capital (ROIC) of 7.0%. This is below average and may indicate limited pricing power.
M&T BANK CORP (MTB) has a market capitalization of $35.1B. It is classified as a large-cap stock.
Yes, M&T BANK CORP (MTB) pays a dividend with a trailing twelve-month yield of 2.56%. The company also returns capital through share buybacks, with a buyback yield of 7.49%.
Based on historical P/E analysis, M&T BANK CORP (MTB) appears fair. The current P/E of 13.0 is 18% above its historical median of 11.0. The estimated fair value CAGR (P/E method) is 5.1%.
M&T BANK CORP (MTB) operates in the State Commercial Banks industry, within the Financials sector.
M&T BANK CORP (MTB) reported annual revenue of $13.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
M&T BANK CORP (MTB) has a net profit margin of 20.4%. This is a strong margin indicating high profitability.
M&T BANK CORP (MTB) generated $2.9 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
M&T BANK CORP (MTB) has a debt-to-equity ratio of 0.45. This indicates a conservatively financed balance sheet.
M&T BANK CORP (MTB) reported earnings per share (EPS) of $17.00 in its most recent fiscal year.
M&T BANK CORP (MTB) has a return on equity (ROE) of 9.3%. This indicates moderate shareholder returns.
M&T BANK CORP (MTB) has a 5-year average gross margin of 84.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 19 years of financial data for M&T BANK CORP (MTB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
M&T BANK CORP (MTB) has a book value per share of $183.78, based on its most recent annual SEC filing.