MTB-PJ FY 2022 Earnings Report — M&T Bank Corporation Revenue & Financial Results | Market Cap Arena

M&T Bank CorporationMTB-PJ

FY 2022 Earnings

Reported February 22, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$8.4B	—	$6.1B	—	38.9%
Op. Income	$2.6B	—	$2.5B	—	6.4%
Gross Margin	88.8%	—	99.4%	—	-10.5pp
Net Margin	23.6%	—	30.6%	—	-7.0pp
EPS (Diluted)	$11.53	—	$13.80	—	-16.4%
Free Cash Flow	$4.4B	—	$2.6B	—	69.9%

Revenue Flow

Item	Amount
REVENUE	$8.4B
Cost of Revenue	$942M
GROSS PROFIT	$7.5B
R&D Expenses	$0
Selling & Marketing	$90M
General & Administrative	$2.9B
SG&A Expenses	$3.0B
Other Expenses	$1.9B
Operating Expenses	$4.9B
Cost & Expenses	$5.8B
OPERATING INCOME	$2.6B
Interest Income	$6.2B
Interest Expense	$425M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.6B
Income Tax Expense	$620M
Net Income from Continuing Ops	$2.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$435M
EBIT	$2.6B
EBITDA	$3.0B
EPS	$12
EPS Diluted	$12

Income Statement

Item	Amount
REVENUE	$8.4B
Cost of Revenue	$942M
GROSS PROFIT	$7.5B
R&D Expenses	$0
Selling & Marketing	$90M
General & Administrative	$2.9B
SG&A Expenses	$3.0B
Other Expenses	$1.9B
Operating Expenses	$4.9B
Cost & Expenses	$5.8B
OPERATING INCOME	$2.6B
Interest Income	$6.2B
Interest Expense	$425M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.6B
Income Tax Expense	$620M
Net Income from Continuing Ops	$2.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$435M
EBIT	$2.6B
EBITDA	$3.0B
EPS	$12
EPS Diluted	$12

Cash Flow Statement

Item	Amount
Net Income	$2.0B
Depreciation & Amortization	$435M
Stock-Based Compensation	$0
Deferred Income Tax	-$30M
Other Non-Cash Items	$372M
Change in Working Capital	$1.8B
OPERATING CASH FLOW	$4.6B
Capital Expenditure	-$214M
Acquisitions (Net)	$394M
Purchases of Investments	-$9.6B
Sales/Maturities of Investments	$2.6B
Other Investing Activities	$23.4B
NET CASH FROM INVESTING	$16.6B
Net Debt Issuance	$2.7B
Common Stock Repurchased	-$1.8B
Common Dividends Paid	-$784M
Other Financing Activities	-$21.0B
NET CASH FROM FINANCING	-$21.0B
FREE CASH FLOW	$4.4B
Net Change in Cash	$183M

Balance Sheet

Item	Amount
Cash & Equivalents	$26.5B
Short-Term Investments	$10.7B
Net Receivables	$2.6B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$39.9B
PP&E (Net)	$1.7B
Goodwill	$8.5B
Intangible Assets	$209M
Long-Term Investments	$141.5B
Tax Assets	$0
Other Non-Current Assets	$8.9B
TOTAL NON-CURRENT ASSETS	$160.8B
TOTAL ASSETS	$200.7B
Account Payables	$4.4B
Short-Term Debt	$3.6B
Deferred Revenue	$0
Other Current Liabilities	$163.5B
TOTAL CURRENT LIABILITIES	$171.4B
Long-Term Debt	$4.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$4.0B
TOTAL LIABILITIES	$175.4B
Common Stock	$91M
Additional Paid-In Capital	$10.0B
Retained Earnings	$15.8B
Treasury Stock	-$1.8B
Accum. Other Comp. Income	-$790M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$25.3B
Minority Interest	$0
TOTAL EQUITY	$25.3B
TOTAL LIABILITIES & EQUITY	$200.7B
Total Debt	$7.5B
Net Debt	-$19.0B