M&T Bank Corporation
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 6.08B | 8.44B | 12.51B | 13.40B | 12.31B | -8.2% | |
| Cost of Revenue | (39.00M) | (942.00M) | (3.75B) | (4.78B) | (3.12B) | -34.7% | |
Gross Profit | 6.04B | 7.50B | 8.75B | 8.62B | 9.19B | 6.5% | |
| Operating Expenses | |||||||
| Research & Development | — | — | — | — | — | — | |
| Selling, General & Administrative | (2.18B) | (2.97B) | (3.22B) | (3.38B) | (3.24B) | -4.0% | |
| General & Administrative | (2.12B) | (2.88B) | (3.12B) | (3.27B) | (3.13B) | -4.3% | |
| Selling & Marketing | (64.00M) | (90.00M) | (108.00M) | (104.00M) | (110.00M) | 5.8% | |
| Depreciation & Amortization | (324.00M) | (435.00M) | (497.00M) | (508.00M) | (264.00M) | -48.0% | |
Operating Income (EBIT) | 2.46B | 2.61B | 3.62B | 3.31B | 3.69B | 11.5% | |
| Non-Operating Items | |||||||
| Interest Income | 3.94B | 6.25B | 10.22B | 11.03B | 10.49B | -4.9% | |
| Interest Expense | (114.00M) | (425.00M) | (3.11B) | (4.17B) | (3.54B) | -15.2% | |
| Other Income/Expenses (Net) | — | — | — | — | — | — | |
Income Before Tax | 2.46B | 2.61B | 3.62B | 3.31B | 3.69B | 11.5% | |
| Income Tax Expense | (596.00M) | (620.00M) | (878.00M) | (722.00M) | (841.00M) | 16.5% | |
Net Income | 1.86B | 1.99B | 2.74B | 2.59B | 2.85B | 10.2% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $14 | $12 | $16 | $15 | $17 | 16.2% | |
| Weighted Avg Shares Outstanding | 128.67M | 163.17M | 166.36M | 166.48M | 163.30M | -1.9% | |
| Weighted Avg Shares Outstanding (Diluted) | 128.81M | 164.03M | 167.00M | 167.32M | 156.55M | -6.4% | |
EBITDA | 2.78B | 3.05B | 4.12B | 3.82B | 3.96B | 3.6% |
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