BMO

MKT CAP:$107B

Bank of Montreal

Market Cap

$107B

Financial Services·Banks - Diversified·🇨🇦 Canada·NYSE

Financials·Banks·🇨🇦·NYSE

Stock Price

$152.21+$20.01 (+15.14%)

Apr 24, 2026

Company Details

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice se...

CEO

William Darryl White

IPO Date

Oct 27, 1994

Website

www.bmo.com

Key Metrics TTM

Revenue

$56.3B

-4.0% YoY

Net Income

$6.6B

EPS (Diluted)

$8.75

Free Cash Flow

$8.0B

Revenue / Share

$79.26

Gross Margin

43.3%

Operating Margin

15.6%

Net Margin

11.8%

FCF Margin

14.2%

P/S

1.9x

P/E

16.2x

Earnings Reports

Q1 2026

Feb 25, 2026

$14.1B-5.5%EPS $2.48

FY 2025

Dec 4, 2025

$57.1B-0.5%EPS $8.36

Q4 2025

Dec 4, 2025

$14.1B-2.4%EPS $2.15

Q3 2025

Aug 26, 2025

$14.0B-6.2%EPS $2.29

Q2 2025

May 28, 2025

$14.1B-1.7%EPS $1.83

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$5.4B	$4.1B	$4.6B
Q3 22	$7.2B	$5.0B	$1.2B
Q4 22	$8.7B	$4.6B	$4.3B
Q1 23	$10.5B	$5.0B	$365M
Q2 23	$12.2B	$5.4B	$924M
Q3 23	$13.1B	$5.5B	$1.5B
Q4 23	$13.9B	$5.8B	$1.6B
Q1 24	$13.7B	$5.1B	$1.2B
Q2 24	$14.3B	$5.3B	$1.8B
Q3 24	$15.0B	$5.3B	$1.8B
Q4 24	$14.4B	$5.0B	$2.2B
Q1 25	$14.9B	$6.0B	$2.1B
Q2 25	$14.1B	$5.6B	$1.9B
Q3 25	$14.0B	$6.0B	$2.3B
Q4 25	$14.1B	$6.2B	$2.2B
Q1 26	$14.1B	$6.6B	$2.4B

Valuation

Quarter	P/S	P/E
Q2 22	3.1x	8.3x
Q3 22	2.8x	8.3x
Q4 22	2.3x	6.4x
Q1 23	3.0x	12.2x
Q2 23	1.7x	12.6x
Q3 23	1.5x	12.6x
Q4 23	1.2x	18.6x
Q1 24	1.3x	17.4x
Q2 24	1.2x	14.2x
Q3 24	1.1x	13.1x
Q4 24	1.2x	12.7x
Q1 25	1.2x	11.9x
Q2 25	1.2x	11.6x
Q3 25	1.4x	12.9x
Q4 25	1.6x	14.1x
Q1 26	1.8x	15.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$9.2B	$9.0B
Q3 22	-$1.4B	-$1.7B
Q4 22	$13.1B	$12.7B
Q1 23	$14.5B	$14.2B
Q2 23	-$17.9B	-$18.2B
Q3 23	$7.8B	$7.5B
Q4 23	$2.6B	$2.2B
Q1 24	$11.7B	$11.4B
Q2 24	$2.9B	$2.7B
Q3 24	$1.5B	$1.2B
Q4 24	$3.4B	$3.1B
Q1 25	$3.6B	$3.3B
Q2 25	-$2.3B	-$2.7B
Q3 25	-$3.1B	-$3.4B
Q4 25	$9.3B	$9.0B
Q1 26	$5.4B	$5.1B

Capital Expenditures

Quarter	CapEx
Q2 22	$240M
Q3 22	$265M
Q4 22	$357M
Q1 23	$268M
Q2 23	$295M
Q3 23	$269M
Q4 23	$394M
Q1 24	$286M
Q2 24	$239M
Q3 24	$302M
Q4 24	$316M
Q1 25	$282M
Q2 25	$321M
Q3 25	$296M
Q4 25	$365M
Q1 26	$281M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	-1.4%	-82.6%
Q3 22	+10.4%	+37.2%
Q4 22	+52.2%	+18.6%
Q1 23	+73.2%	+214.7%
Q2 23	+127.9%	+1502.6%
Q3 23	+83.5%	+97.3%
Q4 23	+60.3%	+184.6%
Q1 24	+30.5%	+23.2%
Q2 24	+17.2%	+11.1%
Q3 24	+13.9%	+12.7%
Q4 24	+4.0%	-0.4%
Q1 25	+8.8%	+2.9%
Q2 25	-1.7%	-3.0%
Q3 25	-6.2%	-10.6%
Q4 25	-2.4%	-2.9%
Q1 26	-5.5%	-9.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%
Q1 26	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$935M	$84M
Q3 22	$1.9B	$99M
Q4 22	$1.4B	$118M
Q1 23	$1.9B	$102M
Q2 23	$2.2B	$143M
Q3 23	$2.2B	$159M
Q4 23	$2.2B	$190M
Q1 24	$2.1B	$140M
Q2 24	$1.9B	$148M
Q3 24	$2.0B	$159M
Q4 24	$2.0B	$166M
Q1 25	$2.4B	$127M
Q2 25	$2.1B	$153M
Q3 25	$2.2B	$145M
Q4 25	$2.2B	$164M
Q1 26	$2.6B	$132M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$57.0B	$27.7B	$84.7B
Q3 22	$56.2B	$28.7B	$84.9B
Q4 22	$68.1B	$31.8B	$99.9B
Q1 23	$79.2B	$35.3B	$114.6B
Q2 23	$53.9B	$41.3B	$95.2B
Q3 23	$62.8B	$39.3B	$102.1B
Q4 23	$60.0B	$45.9B	$105.9B
Q1 24	$57.6B	$50.8B	$108.4B
Q2 24	$61.5B	$51.4B	$113.0B
Q3 24	$57.2B	$59.5B	$116.8B
Q4 24	$50.2B	$32.7B	$83.0B
Q1 25	$58.3B	$73.3B	$131.6B
Q2 25	$50.1B	$77.4B	$127.5B
Q3 25	$45.9B	$77.8B	$123.7B
Q4 25	$51.4B	$24.7B	$76.1B
Q1 26	$49.2B	$221.3B	$270.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	660M	+1.5%	+1.8%
Q3 22	675M	+2.2%	+4.0%
Q4 22	689M	+2.0%	+5.9%
Q1 23	693M	+0.6%	+6.5%
Q2 23	713M	+2.9%	+8.0%
Q3 23	716M	+0.5%	+6.2%
Q4 23	720M	+0.5%	+4.6%
Q1 24	725M	+0.6%	+4.6%
Q2 24	729M	+0.6%	+2.3%
Q3 24	730M	+0.1%	+1.9%
Q4 24	729M	-0.2%	+1.2%
Q1 25	729M	0.0%	+0.5%
Q2 25	726M	-0.3%	-0.4%
Q3 25	721M	-0.8%	-1.3%
Q4 25	723M	+0.3%	-0.7%
Q1 26	710M	-1.8%	-2.5%

Shares Outstanding