M&T Bank

Financials Regional Banks Buffalo, New York Last filing Feb 18, 2026 · FY2025

                    Revenue
                    FY2025
                
$10.5B
                    3y CAGR +18.8%
                    
                    P66
                    
                    -4.9%
                    
                    Net income
                    FY2025
                
$2.9B
                    Net margin +27.2%
                    
                    P77
                    
                    +10.2%
                    
                    Total assets
                    FY2025
                
$213.5B
                    ROA +1.3%
                    
                    P33
                    
                    +2.6%
                    
                    Operating cash flow
                    FY2025
                
$3.0B
                    
                    -16.8%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

19 accounts · 10 years

Total assets $213.5B

Total liabilities $184.3B

Shareholders equity $29.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	179.0%	188.5%	16.9%	24.3%	34.0%	37.0%	29.4%	34.9%	34.1%	33.9%
Property,Plant and Equipment	15.5%	15.5%	17.0%	26.5%	29.1%	27.7%	23.4%	14.1%	15.5%	17.3%
Goodwill	80.7%	76.8%	82.8%	135.9%	116.6%	109.5%	94.1%	99.9%	110.2%	117.9%
Intangible Assets	0.6%	0.9%	1.4%	3.4%	0.1%	0.3%	0.6%	1.0%	1.7%	2.5%
Total Assets	2036.1%	1887.4%	2037.0%	3213.2%	3937.7%	3401.2%	2456.6%	2611.5%	2845.5%	3168.7%
Liabilities
Current Portion of Long Term Debt	20.5%	9.6%	52.0%	56.9%	1.2%	1.4%	1.3%	95.6%	4.2%	4.2%
Other Current Liabilities	41.6%	39.2%	44.2%	70.1%	54.0%	51.7%	47.9%	35.6%	38.2%	46.5%
Total Current Liabilities	1757.9%	1624.1%	1773.3%	2807.9%	3483.2%	3015.1%	2134.5%	2275.4%	2455.6%	2745.5%
Long Term Debt	104.1%	114.3%	80.2%	63.5%	88.5%	104.5%	143.2%	183.6%	195.3%	243.7%
Other Noncurrent Liabilities	41.6%	39.2%	44.2%	70.1%	54.0%	51.7%	47.9%	35.6%	38.2%	46.5%
Total Liabilities	1757.9%	1624.1%	1773.3%	2807.9%	3483.2%	3015.1%	2134.5%	2275.4%	2455.6%	2745.5%
Equity
Preferred Stock	27.0%	21.7%	19.7%	32.2%	44.4%	29.8%	25.6%	26.8%	29.5%	31.6%
Common Stock	0.9%	0.8%	0.9%	1.4%	2.0%	1.9%	1.6%	1.7%	1.9%	2.1%
Additional Paid In Capital	95.5%	90.7%	98.0%	160.1%	168.4%	157.8%	135.1%	143.1%	158.1%	171.4%
Retained Earnings	199.1%	173.0%	171.4%	252.2%	371.8%	320.7%	262.7%	250.4%	243.9%	236.7%
Treasury Stock	46.9%	21.5%	21.8%	28.0%	129.0%	122.7%	98.8%	76.7%	34.9%	11.1%
Accumulated Other Comprehensive Income	2.6%	-1.5%	-4.5%	-12.6%	-3.2%	-1.5%	-4.2%	-9.1%	-8.7%	-7.6%
Total Stockholders Equity	278.2%	263.3%	263.7%	405.3%	454.5%	386.1%	322.1%	336.2%	389.9%	423.2%
Total Liabilitiesand Equity	2036.1%	1887.4%	2037.0%	3213.2%	3937.7%	3401.2%	2456.6%	2611.5%	2845.5%	3168.7%

Income Statement

Revenue, expense, and profitability

14 accounts · 10 years

Revenue $10.5B

Operating income $2.9B

Net income $2.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Selling,General and Administrative	1.0%	0.9%	1.1%	1.4%	1.6%	1.5%	1.9%	1.9%	1.7%	2.2%
Expenses Depreciation and Amortization	3.1%	2.9%	3.0%	4.5%	0.3%	0.4%	0.4%	2.3%	2.6%	2.7%
Expenses Share Based Compensation	1.3%	1.1%	1.2%	1.8%	2.2%	1.9%	1.6%	1.4%	1.5%	1.7%
Other Income Expense Operating Income	27.2%	23.5%	26.8%	31.9%	47.2%	32.3%	39.5%	41.7%	33.8%	33.8%
Other Income Expense Interest Income	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Other Income Expense Income Before Tax	35.2%	30.0%	35.4%	41.8%	62.3%	42.2%	52.2%	54.5%	55.8%	52.8%
Income Tax Income Tax Expense	8.0%	6.5%	8.6%	9.9%	15.1%	9.9%	12.7%	12.8%	22.0%	19.1%
net Income net Income	27.2%	23.5%	26.8%	31.9%	47.2%	32.3%	39.5%	41.7%	33.8%	33.8%
net Income Comprehensive Income	31.4%	26.1%	30.0%	21.3%	45.5%	35.7%	43.9%	40.9%	33.7%	32.7%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.5%	1.5%	1.6%	2.6%	3.3%	3.1%	2.8%	3.1%	3.7%	4.0%
Earnings Per Share Weighted Average Shares Diluted	1.5%	1.5%	1.6%	2.6%	3.3%	3.1%	2.8%	3.1%	3.7%	4.0%

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 10 years

Operating cash flow $3.0B

Investing cash flow $-6.8B

Financing cash flow $1.8B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	27.2%	23.5%	26.8%	31.9%	47.2%	32.3%	39.5%	41.7%	33.8%	33.8%
Operating Activities Depreciation and Amortization	3.1%	2.9%	3.0%	4.5%	0.3%	0.4%	0.4%	2.3%	2.6%	2.7%
Operating Activities Stock Based Compensation	1.3%	1.1%	1.2%	1.8%	2.2%	1.9%	1.6%	1.4%	1.5%	1.7%
Operating Activities Deferred Income Taxes	-0.2%	-0.2%	-0.9%	-0.5%	2.2%	-0.7%	1.2%	0.3%	9.6%	4.5%
Operating Activities Changes In Operating Assets and Liabilities	-0.1%	-2.6%	-5.5%	1.1%	-1.3%	10.0%	-1.6%	-0.3%	4.8%	-1.5%
Operating Activities Other Non Cash Items	-0.1%	-2.6%	-5.5%	1.1%	-1.3%	10.0%	-1.6%	-0.3%	4.8%	-1.5%
Operating Activities net Cash From Operating Activities	28.6%	32.7%	38.2%	73.2%	68.9%	18.8%	48.3%	45.4%	66.7%	30.4%
Investing Activities Purchases of Investments	80.5%	131.3%	3.4%	115.6%	17.2%	0.2%	0.6%	0.3%	6.0%	91.4%
Investing Activities Proceeds From Sale of Investments	42.5%	55.1%	7.3%	12.7%	36.4%	38.5%	0.0%	0.0%	12.8%	1.6%
Investing Activities Other Investing Activities	-0.2%	4.9%	4.3%	9.9%	13.0%	-1.6%	4.0%	-1.0%	-0.5%	-7.1%
Investing Activities net Cash From Investing Activities	-65.0%	-88.4%	-46.6%	265.6%	-346.1%	-525.2%	14.9%	-30.7%	81.5%	-18.5%
Financing Activities Proceeds From Debt	33.7%	49.9%	49.2%	16.0%	0.3%	—	—	38.6%	51.5%	—
Financing Activities Repayment of Debt	51.3%	9.2%	8.1%	14.5%	21.7%	63.6%	31.8%	31.7%	82.4%	28.7%
Financing Activities Repurchase of Common Stock	25.1%	3.6%	5.8%	28.8%	—	8.9%	27.7%	47.7%	28.9%	16.5%
Financing Activities Dividends Paid	8.6%	8.1%	8.5%	12.6%	14.7%	13.5%	11.3%	11.1%	11.0%	11.3%
Financing Activities Proceeds From Stock Issuance	0.2%	1.3%	0.3%	0.6%	—	—	—	—	—	—
Financing Activities Other Financing Activities	-0.2%	1.0%	0.2%	-0.2%	-0.7%	-0.3%	-0.5%	0.4%	0.3%	4.2%
Financing Activities net Cash From Financing Activities	17.2%	-26.1%	40.9%	-335.9%	271.7%	509.2%	-66.7%	-10.8%	-145.8%	-13.1%
Cash Reconciliation Effect of Exchange Rate On Cash	179.0%	188.5%	16.9%	24.3%	34.0%	37.0%	29.4%	34.9%	34.1%	33.9%
Cash Reconciliation net Change In Cash	-19.2%	-81.8%	32.5%	2.9%	-5.5%	2.8%	-3.5%	4.0%	2.4%	-1.2%
Cash Reconciliation Cash At Beginning of Period	179.0%	188.5%	16.9%	24.3%	34.0%	37.0%	29.4%	34.9%	34.1%	33.9%
Cash Reconciliation Cash At End of Period	179.0%	188.5%	16.9%	24.3%	34.0%	37.0%	29.4%	34.9%	34.1%	33.9%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	+27.2%	+23.5%	+26.8%	+31.9%	+47.2%	+32.3%	+39.5%	+41.7%	+33.8%	+33.8%
Net margin	+27.2%	+23.5%	+26.8%	+31.9%	+47.2%	+32.3%	+39.5%	+41.7%	+33.8%	+33.8%
FCF margin	—	—	—	—	—	—	—	—	—	—
Growth
Revenue CAGR (3y)	+18.8%	+40.9%	+34.6%	+8.6%	-5.0%	+0.2%	+7.8%	+13.2%	+12.1%	+9.6%
Returns
ROE	+9.8%	+8.9%	+10.2%	+7.9%	+10.4%	+8.4%	+12.3%	+12.4%	+8.7%	+8.0%
ROA	+1.3%	+1.2%	+1.3%	+1.0%	+1.2%	+0.9%	+1.6%	+1.6%	+1.2%	+1.1%
ROIC	+9.4%	+9.2%	+5.4%	+4.9%	+7.0%	+5.4%	+6.8%	+5.5%	+3.7%	+3.4%
Liquidity
Current ratio	—	—	—	—	—	—	—	—	—	—
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	6.32x	6.17x	6.73x	6.93x	7.66x	7.81x	6.63x	6.77x	6.30x	6.49x
Interest coverage	—	—	0.88x	4.69x	16.31x	4.15x	2.57x	3.64x	3.64x	3.09x
Efficiency
Asset turnover	0.05x	0.05x	0.05x	0.03x	0.03x	0.03x	0.04x	0.04x	0.04x	0.03x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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M&T Bank

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