M&T Bank Corporation (MTB) Income Statement
MTB 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMTB revenue and net income
Where MTB's revenue goes
2025Each bar shows an amount and its share of revenue. MTB kept 23.2% of revenue as net income.
MTB profit margins
MTB growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −8.2% | +13.4% | +14.4% | +9.4% |
| Gross profit | +6.5% | +7.0% | +12.2% | +7.4% |
| Operating income | +11.5% | +12.2% | +15.8% | +8.2% |
| Net income | +10.2% | +12.7% | +16.1% | +10.2% |
| EPS (diluted) | +16.8% | +6.5% | +11.2% | +8.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MTB quarterly EPS vs estimates
M&T Bank beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: January 19, 2027.
MTB income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.31B | $13.40B | $12.51B | $8.44B | $6.08B | $6.28B | $6.94B | $6.45B | $6.02B | $5.72B |
| Cost of revenue | $3.12B | $4.78B | $3.75B | $942.0M | $39.0M | $1.13B | $925.3M | $658.4M | $554.8M | $616.0M |
| Gross profit | $9.19B | $8.62B | $8.75B | $7.50B | $6.04B | $5.15B | $6.02B | $5.80B | $5.46B | $5.11B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $3.24B | $3.38B | $3.22B | $2.97B | $2.18B | $2.07B | $2.04B | $1.91B | $1.82B | $1.81B |
| Total operating expenses | $5.49B | $5.31B | $5.13B | $4.88B | $3.58B | $3.39B | $3.47B | $3.29B | $3.14B | $3.05B |
| Operating income | $3.69B | $3.31B | $3.62B | $2.61B | $2.46B | $1.77B | $2.55B | $2.51B | $2.32B | $2.06B |
| Interest income | $10.49B | $11.03B | $9.56B | $6.25B | $3.94B | $4.19B | $4.88B | $4.60B | $4.17B | $3.90B |
| Interest expense | $3.54B | $4.17B | $3.11B | $425.0M | $114.0M | $326.4M | $749.3M | $526.4M | $386.8M | $426.0M |
| Income before taxes | $3.69B | $3.31B | $3.62B | $2.61B | $2.46B | $1.77B | $2.55B | $2.51B | $2.32B | $2.06B |
| Income taxes | $841.0M | $722.0M | $878.0M | $620.0M | $596.0M | $416.4M | $618.1M | $590.2M | $915.6M | $743.3M |
| Net income | $2.85B | $2.59B | $2.74B | $1.99B | $1.86B | $1.35B | $1.93B | $1.92B | $1.41B | $1.32B |
| EBITDA | $4.19B | $3.82B | $4.12B | $3.05B | $2.78B | $2.09B | $2.85B | $2.69B | $2.52B | $2.26B |
| EPS (diluted) | $17.05 | $14.60 | $15.70 | $14.13 | $15.44 | $10.01 | $14.13 | $13.37 | $9.34 | $7.82 |
| Gross margin | 74.6% | 64.3% | 70.0% | 88.8% | 99.4% | 82.1% | 86.7% | 89.8% | 90.8% | 89.2% |
| Operating margin | 30.0% | 24.7% | 28.9% | 31.0% | 40.4% | 28.2% | 36.7% | 38.9% | 38.6% | 36.0% |
| Net margin | 23.2% | 19.3% | 21.9% | 23.6% | 30.6% | 21.5% | 27.8% | 29.7% | 23.4% | 23.0% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.41B | $3.36B | $3.23B | $3.33B | $2.51B | $3.29B | $3.17B | $3.34B | $3.39B | $3.37B | $3.30B | $3.30B |
| Cost of revenue | $1.01B | $948.0M | $924.0M | $983.0M | $125.0M | $1.02B | $995.0M | $1.12B | $1.18B | $1.22B | $1.26B | $1.24B |
| Gross profit | $2.40B | $2.41B | $2.30B | $2.35B | $2.39B | $2.27B | $2.18B | $2.22B | $2.21B | $2.15B | $2.04B | $2.06B |
| Sales, general & admin | $1.17B | $1.15B | $1.42B | $809.0M | $663.0M | $838.0M | $932.0M | $810.0M | $827.0M | $828.0M | $884.0M | $781.1M |
| Total operating expenses | $1.39B | $1.15B | $1.44B | $1.38B | $1.36B | $1.34B | $1.42B | $1.34B | $1.30B | $1.30B | $1.37B | $1.43B |
| Operating income | $1.01B | $1.27B | $863.0M | $971.0M | $1.02B | $935.0M | $761.0M | $882.0M | $909.0M | $855.0M | $664.0M | $625.7M |
| Interest income | — | $2.62B | $2.54B | $2.64B | $2.68B | $2.61B | $2.56B | $2.71B | $2.79B | $2.79B | $2.75B | $2.74B |
| Interest expense | $874.0M | $828.0M | $784.0M | $858.0M | $919.0M | $896.0M | $865.0M | $979.0M | $1.06B | $1.07B | $1.06B | $1.02B |
| Income before taxes | $1.01B | $1.06B | $863.0M | $971.0M | $1.02B | $935.0M | $761.0M | $882.0M | $909.0M | $855.0M | $664.0M | $625.7M |
| Income taxes | $233.0M | $245.0M | $199.0M | $212.0M | $233.0M | $219.0M | $177.0M | $201.0M | $188.0M | $200.0M | $133.0M | $143.3M |
| Net income | $775.0M | $818.0M | $664.0M | $759.0M | $792.0M | $716.0M | $584.0M | $681.0M | $721.0M | $655.0M | $531.0M | $482.4M |
| EBITDA | $1.01B | $1.33B | $960.0M | $1.09B | $1.15B | $1.06B | $891.0M | $1.01B | $1.03B | $982.0M | $794.0M | $755.0M |
| EPS (diluted) | $5.08 | $5.35 | $4.13 | $4.67 | $4.82 | $4.24 | $3.32 | $3.77 | $4.03 | $3.79 | $3.01 | $3.60 |
| Gross margin | 70.4% | 71.8% | 71.3% | 70.5% | 95.0% | 69.0% | 68.6% | 66.5% | 65.2% | 63.8% | 61.7% | 62.3% |
| Operating margin | 29.6% | 37.7% | 26.8% | 29.1% | 40.8% | 28.4% | 24.0% | 26.4% | 26.8% | 25.3% | 20.1% | 19.0% |
| Net margin | 22.7% | 24.3% | 20.6% | 22.8% | 31.5% | 21.7% | 18.4% | 20.4% | 21.3% | 19.4% | 16.1% | 14.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MTB's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MTB financial results
In fiscal year 2025 (ended December 31, 2025), M&T Bank reported revenue of $12.3 billion, down 8.2% from the year before. It had net income of $2.9 billion (up 10.2%), a net profit margin of 23.2%. Diluted earnings per share came to $17.05. Over five years revenue grew at an average rate of 14.4% a year.
See the MTB stock overview for the latest quote and news, or the MTB chart for price history and technical indicators.
MTB income statement FAQ
What is M&T Bank's annual revenue?
M&T Bank reported total revenue of $12.3 billion for fiscal year 2025, which ended on December 31, 2025. That was down 8.2% from $13.4 billion the previous year.
Is M&T Bank profitable?
Yes. M&T Bank reported net income of $2.9 billion in fiscal 2025, a net profit margin of 23.2%; its operating margin was 30.0%.
What is M&T Bank's gross margin?
M&T Bank's gross margin was 74.6% in fiscal 2025: for every $100 of revenue, M&T Bank kept $75 after the direct cost of its products and services.
How fast is M&T Bank growing?
Revenue grew 14.4% a year on average over the last five fiscal years, from $6.3 billion to $12.3 billion.
What are M&T Bank's earnings per share?
M&T Bank earned $17.05 per diluted share in fiscal 2025, compared with $14.60 a year earlier.
When will M&T Bank report its next earnings?
M&T Bank is expected to report results for the quarter ending December 31, 2026 on January 19, 2027 before the market opens.
When does M&T Bank's fiscal year end?
M&T Bank's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.