M&T Bank Corporation (USD). For the year ended 31 December 2025, revenue was 10.49B, −4.9 % on the previous year, net income was 2.85B. Debt as of 30 June 2026 stood at 18.18B.
Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | 31/12/2025 | 31/12/2024 |
|---|---|---|
| Revenue | 10.49B | 11.03B |
| Interest expense | 3.54B | 4.17B |
| Pre-tax income | 3.69B | 3.31B |
The series is stated in the current share scale after splits; dividends are not included in the price
M&T Bank is a north-eastern regional bank known for a conservative approach to lending.
Household and business deposits fund corporate loans, commercial real estate and mortgages; the rate spread supplies most of the result. The bank has historically come through crises with smaller losses than the sector average — a consequence of cautious borrower selection rather than luck.
A noticeable share of the book is commercial real estate, and that is the main focus of attention: offices lost value after the shift to remote work, while the loan against them is serviced until maturity, which is when the collateral's real value emerges. Fee income — mortgage servicing and wealth management — smooths the rate cycle. The bank pays a dividend.
| Income tax | 841M | 722M |
| Net income | 2.85B | 2.59B |
| Earnings per share | 17.10 | 14.71 |
| Earnings per share, diluted | 17.00 | 14.64 |
| Weighted average shares | 158M | 166M |
| Weighted average shares, diluted | 159M | 167M |
| Metric | 30/06/2026 | 31/03/2026 | 31/12/2025 | 30/09/2025 | 30/06/2025 | 31/03/2025 | 31/12/2024 | 30/09/2024 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 17.44B | 16.35B | 18.77B | 1.95B | 21.43B | 22.77B | 20.78B | 2.22B |
| Property, plant and equipment | 1.73B | 1.72B | 1.63B | 1.62B | 1.65B | 1.66B | 1.71B | 1.69B |
| Goodwill | 8.47B | 8.47B | 8.47B | 8.47B | 8.47B | 8.47B | 8.47B | 8.47B |
| Total assets | 219.26B | 214.74B | 213.51B | 211.28B | 211.58B | 210.32B | 208.11B | 211.79B |
| Short-term debt | 4.61B | 7.85B | 2.15B | 2.06B | 2.07B | 1.57B | 1.06B | 2.61B |
| Long-term debt | 13.57B | 11.18B | 10.91B | 12.93B | 12.38B | 10.50B | 12.61B | 11.58B |
| Total liabilities | 191.32B | 186.76B | 184.33B | 182.55B | 183.06B | 181.33B | 179.08B | 182.91B |
| Equity | 27.95B | 27.97B | 29.18B | 28.73B | 28.53B | 28.99B | 29.03B | 28.88B |
| Shares outstanding | — | — | 179M | 179M | 179M | 179M | 179M | 179M |
| Shares issued | 179M | 179M | 179M | 179M | 179M | 179M | 179M | 179M |
| Treasury shares | 35M | 33M | 28M | 25M | 23M | 17M | 14M | 13M |
| Metric | 31/12/2025 | 31/12/2024 |
|---|---|---|
| Operating cash flow | 3.00B | 3.61B |
| Depreciation and amortisation | 323M | 316M |
| Investing cash flow | −6.82B | −9.75B |
| Dividends paid | 899M | 895M |
| Share buybacks | 2.63B | 396M |
| Financing cash flow | 1.80B | −2.88B |
A company's accounts come as three tables, and each answers its own question. The income statement shows what the company earned over a period: revenue at the top, costs below it and net income at the bottom, which is what is left for shareholders after tax. When revenue grows and net income does not, costs are growing faster, so it is worth finding out which line has moved.
The balance sheet is a snapshot on a single date: what the company owns and what it owes. Assets equal liabilities plus shareholders' equity. Debt is best judged against cash and earnings rather than on its own, because the same amount can be unremarkable for a large company and dangerous for a small one. Note that a balance sheet is published every quarter, so its date is often more recent than the date of the annual income statement.
The cash flow statement shows how much money actually came in. Net income is an accounting figure, while operating cash flow is what the business really collected. A healthy company usually brings in at least as much in cash as it reports on paper. Out of that flow it pays for equipment, pays dividends and buys back its own shares.
Every column carries the date its period ended, because companies close their financial years in different months. A dash means the company did not report that line, not that it equals zero: a bank, for example, has no cost of revenue. Annual figures give the overall picture, and quarterly ones reveal a turning point sooner, although they are more seasonal, so compare a quarter with the same quarter of the previous year.
Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator