MTB-PJ FY 2021 Earnings Report — M&T Bank Corporation Revenue & Financial Results | Market Cap Arena

M&T Bank CorporationMTB-PJ

FY 2021 Earnings

Reported February 16, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$6.1B	—	$6.3B	—	-3.3%
Op. Income	$2.5B	—	$1.8B	—	38.7%
Gross Margin	99.4%	—	82.1%	—	17.3pp
Net Margin	30.6%	—	21.5%	—	9.1pp
EPS (Diluted)	$13.80	—	$9.94	—	38.8%
Free Cash Flow	$2.6B	—	$617M	—	315.9%

Revenue Flow

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$39M
GROSS PROFIT	$6.0B
R&D Expenses	$0
Selling & Marketing	$64M
General & Administrative	$2.1B
SG&A Expenses	$2.2B
Other Expenses	$1.4B
Operating Expenses	$3.6B
Cost & Expenses	$3.6B
OPERATING INCOME	$2.5B
Interest Income	$3.9B
Interest Expense	$114M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.5B
Income Tax Expense	$596M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$324M
EBIT	$2.5B
EBITDA	$2.8B
EPS	$14
EPS Diluted	$14

Income Statement

Item	Amount
REVENUE	$6.1B
Cost of Revenue	$39M
GROSS PROFIT	$6.0B
R&D Expenses	$0
Selling & Marketing	$64M
General & Administrative	$2.1B
SG&A Expenses	$2.2B
Other Expenses	$1.4B
Operating Expenses	$3.6B
Cost & Expenses	$3.6B
OPERATING INCOME	$2.5B
Interest Income	$3.9B
Interest Expense	$114M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.5B
Income Tax Expense	$596M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$324M
EBIT	$2.5B
EBITDA	$2.8B
EPS	$14
EPS Diluted	$14

Cash Flow Statement

Item	Amount
Net Income	$1.9B
Depreciation & Amortization	$324M
Stock-Based Compensation	$0
Deferred Income Tax	$87M
Other Non-Cash Items	-$77M
Change in Working Capital	$522M
OPERATING CASH FLOW	$2.7B
Capital Expenditure	-$149M
Acquisitions (Net)	$0
Purchases of Investments	-$2.3B
Sales/Maturities of Investments	$2.1B
Other Investing Activities	-$13.2B
NET CASH FROM INVESTING	-$13.6B
Net Debt Issuance	-$856M
Common Stock Repurchased	-$495M
Common Dividends Paid	-$580M
Other Financing Activities	$11.7B
NET CASH FROM FINANCING	$10.7B
FREE CASH FLOW	$2.6B
Net Change in Cash	-$215M

Balance Sheet

Item	Amount
Cash & Equivalents	$43.2B
Short-Term Investments	$4.0B
Net Receivables	$1.1B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$48.3B
PP&E (Net)	$1.1B
Goodwill	$4.6B
Intangible Assets	$4M
Long-Term Investments	$93.5B
Tax Assets	$0
Other Non-Current Assets	$7.5B
TOTAL NON-CURRENT ASSETS	$106.8B
TOTAL ASSETS	$155.1B
Account Payables	$2.1B
Short-Term Debt	$47M
Deferred Revenue	$0
Other Current Liabilities	$131.5B
TOTAL CURRENT LIABILITIES	$133.7B
Long-Term Debt	$3.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$3.5B
TOTAL LIABILITIES	$137.2B
Common Stock	$81M
Additional Paid-In Capital	$6.6B
Retained Earnings	$14.6B
Treasury Stock	-$5.1B
Accum. Other Comp. Income	-$128M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$17.9B
Minority Interest	$0
TOTAL EQUITY	$17.9B
TOTAL LIABILITIES & EQUITY	$155.1B
Total Debt	$3.5B
Net Debt	-$39.7B